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What is Personal Loan?

It Is A Loan That Establishes Consumer Credit That Is Granted For Personal Use, Usually Unsecured And Based On The Borrower's Integrity And Ability To Pay.

Personal Loans Typically Dont Require Any Guarantor Or Security. It Requires Only Minimal Documentation And Is Available For Both Salaried And Self Employed.

Way toward personal loan in Thane, Mumbai, Navi Mumbai

Tenure and EMIs

Minimum 1 year — maximum 5 Years. The shorter the loan duration; the higher are the EMIs and vice versa.

Personal loan interest rates

Interest rates on personal loan range from 10 per cent to 20 per cent.

Late Payment Penalties

If there is a delay in paying off the monthly EMIs, banks will levy a late payment fee with the EMI. It usually is in the range 2—3 percent.

Personal Loan Closure Charges

Unlike secured loans personal loans are subject to pre and part payment charges. The pre closure charges for personal loan may vary from bank to banks/NBFCs and are approximately between 2-5% of the balance outstanding amount.

Apply personal loan online for instant approval – with loanfasttrack.

Check your eligibility with our personal loan EMI calculator.

Personal Loan Documentation

	Salaried Employees	Self Employed/Professionals
1	Age Proof (PAN Card, Passport, Any other Certificate from Statutory Authority)	Age Proof (PAN Card, Passport, Any other Certificate from Statutory Authority)
2	Residence Proof (Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority)	Residence Proof (Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority)
3	Latest Salary-slips for 4 months	Certificate & Proof of business existence along with Business Profile
4	Form 16 for last 2 years	Last 3 years Income Tax returns (self and business) with Profit & Loss Account & Balance Sheets duly certified/audited by a Chartered Accountant
5	Processing Fee Cheque in favour of bank.	Last 12 months Bank Account Statements (self & business)

Personal Loan Eligibility Criteria

Age: Should be minimum 21 years and maximum 58-60 years
Income: Minimum Net income of INR. 15,000/- to 20,000/- per month
Work Experience: Overall 3 years of work experience with a minimum of one month experience in the current organization

Age: Minimum age of 23 or 25 years with a maximum age of 65 years
Income: Minimum income of INR 2-2.5 Lakh per annum
Work Experience: Minimum of 3 years experience in the same business

Longer Repayment Tenure Upto 7 Years.

Why Choose Loanfasttrack ?

Loanfasttrack is a free service provider. It is one of the best personal loan provider companies. Loanfasttrack has a dedicated professional team that helps you to make smart decision on comparative evaluations of best personal loan offers and best personal loan rates of all banks. It is one such online platform for easy personal loans comparison, which helps you to know your personal loan eligibility and to secure your chance to get a low interest personal loan at a single click. You no longer have to worry on “Which bank gives lowest interest rates for unsecured loan”, Loanfasttrack guarantees instant personal loan application with the lender bank/NBFC with the best personal loan interest rates.