3 Most Sought After Personal Loans in India

A loan is a debt we may need at some point of time in our life. It has become a need for us as the desires are higher and ambitions huge and just because of low budget we can’t stop living life.

In several countries, people take a Personal Loan even for buying their favorite wedding dress or getting it designed from someone who is a pro and charges like one. If an iPhoneX is not in your budget, does it mean you can’t dream of buying it?

Of course, you have all the right to dream big, live big and acquire everything that makes you happy.And if not for yourself, you can leverage the option of Personal Loans online to make your family happy by getting them the latest television set or a washing machine which reduced your mother’s efforts to zero or a play station for your son or younger brother. Setting a smile on the faces of your loved ones is what makes us the happiest, so why bother about the expense if a Low-Interest Rate Personal Loan can do it all for us. Repayment can be done in easy instalments, but what you can buy for your loved ones is simply precious.

Several options for Personal Loans are available these days. You do not need to go to the bank or wait for your turn if you wish to take a loan for renovating your house, the marriage of your daughter or buying her a new vehicle. A Personal Loan is available even for going on a vacation; all you need is a good credit score and steady income source. The desires are never-ending, but life certainly is. Do not spend it all thinking about the one day when you will have it all, rather invest in today, live in today, enjoy your present and stay prepared for the future.

Personal Loans give an option to repay your taken amount in the form of EMIs (Equated Monthly Instalments) for which a variable rate of interest is charged. It is significant to compare the amount to be paid as interest before you make a decision of taking a Personal Loan. Several websites offer this comparison, but follow your conscience when choosing the Personal Loan online.

Nowadays various nationalised banks, as well as private banks, have started offering a Personal Loan with a small rate of interest making it affordable for the customers. It is always beneficial to take low-interest rate Personal Loan for the small things in life which matter the most.

Some banks or finance companies to consider before opting for a bank loan are:

HDFC Bank Personal Loan:

HDFC has designed their loans taking utmost care of customers’ requirements and considering them as first priority. HDFC’s Personal Loan has an added advantage of customer-friendly service and affordable rates.With HDFC, fulfilling your dreams will be your first concern instead of simply paying off EMI. The loan can be paid out as early as 48 hours after issue. If you are an existing customer of the bank, you can avail other benefits as well, since HDFC provides special offers and advantages to its customers.

ICICI Bank Personal Loan:

ICICI is a bank with a varied range of banking facilities and products. ICICI provides quite rapid and simple processing of documentation. The different types of loan which are offered by ICICI are Home Loan, Personal Loan, Business Loan and many others. The bank has gained trust amongst the customers in such a short span of time with itsexclusive offers and customer satisfaction. Customers prefer to take a loan from ICICI as it offers lesser interest rates as compared to other banks witha hassle-free documentation process.

Capital First Personal Loan:

Capital first is famous for its instant loan approval and problem free loan processing with minimal documentation. It is termed to be people’s financial company as it started offering a Personal Loan with record growth and profitability. The company takes care of people while scheming a loan for them.

The following chart expresses information about the personal loans offered by the above three banks:

*The above information is subject to change as per market conditions Carefully analyse the interest rate, processing charges, features offered, and terms and conditions of all the lenders before coming to a conclusion.

Also Read: What Are Collateral Loans and How Do They Work?

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