Business

Personal loan in India

Dialabank

- 07-Sep-2020

A huge number of people apply for a personal loan every year in India. In this agony due to COVID, the personal loan window has witnessed a considerable increase in the number of applications. In India among different kinds of borrowing a personal loan remains a top-notch choice in India because of its multiple uses and easy processing.

A personal loan helps in many ways, it is totally dependent on the planning of borrowers how to utilise the fund, the financial institutions are never eager to know where did you spend it. They are only keen to know how easily and conveniently you can repay the loan amount. For disbursement of the loan amount financial institutions try to lure the customers by providing competitive interest rates because the interest paid on the principal amount works as a source of income for every financial institution.

This year has been fatal especially for the people of North Bihar, First COVID and then flood broke the backbones of the economy leading to non-earnings of people which has resulted in a financial crisis in the state. So to cope with this financial problem personal loans can play a most promising role and can really help to get the situation under control.

Availing a personal loan is never a tedious job, it is as simple as filling the application form while we try to take the benefits of a government scheme. A customer needs to fulfil the personal loan eligibility criteria ( predetermined conditions) set by a lender and then basic documentation is brought to the doorstep of the customer and once everything is validated a personal loan amount is disbursed instantly.

For knowing the fact whether a customer is eligible or not it can be checked online also without visiting the branch. A customer needs to fill up a few details like:

PAN, CITY, AGE, CIBIL Score, INCOME and the online window will decide itself whether a customer is qualified to be granted a personal loan or not. In addition to this, a customer can also check the repayment method by using the EMI ( equated monthly instalment) calculator which gives precise results and helps customers to manage their monthly spending wisely.

Understanding the grief of people in this circumstances Manappuram personal loan finanace Limited has taken a bold decision to empower the customers in this time. When people are hoping for an assistance from the financial institution personal loan will help them for their survival and it will also open the scope of new opportunities for them.