Financial emergencies can crop up any time in anyone’s life. It may be some medical emergencies, expense of wedding arrangements, higher education expenses, vacation with your loved ones and more. The best option to get rid of all these financial chunks is the personal loan.
Personal loans is the exact financial solution to offset all your financial needs .As there is no need to worry about pledging any collateral, you Simply have to meet the basic eligibility criteria only. There are host of banks and NBFCs (Non- Banking financial Companies) are present in the market which offers the personal loan to the individuals. One can easily apply the personal loan from Bajaj Finance. As the company approved the loan application within 24 hours, only if you meet the eligibility criteria given by the company.
Personal loans is the exact financial solution to offset all your financial needs .As there is no need to worry about pledging any collateral, you Simply have to meet the basic eligibility criteria only. There are host of banks and NBFCs (Non- Banking financial Companies) are present in the market which offers the personal loan to the individuals. One can easily apply the personal loan from Bajaj Finance. As the company approved the loan application within 24 hours, only if you meet the eligibility criteria given by the company.
Things to keep in mind for applying personal loan
Some of the things that you have to check before applying the loan from any bank or financial institution are given below –
- Interest rate
An interest rate is an amount charged by the loan providers on the loan amount based on other factors. So, it is advisable to choose the best lender, which offers you the lowest interest rate on the personal loan. But you don’t have to worry about it the Bajaj finance loan comes with the attractive and affordable interest rate starting from 12%.
- Fees and charges
The interest cost is not the only cost that you have to bear. There are other charges too, namely Processing Fee, Prepayment Fee, Late Payment Fee etc. that you have to pay. These fees and charges related to personal loan vary from financial institution to institutions. But the Bajaj finance caters the personal loan at a very low processing fee starting from 1.50% up to 3% for salaried individuals and charged up to 2% for self- employed one.
- Loan quantum
Loan quantum is the loan amount that you borrow from the lender. The loan amount of the personal loan also affects the interest rate charged on it. So, it is advisable to decide the loan amount wisely. However, Bajaj finance provides the attractive loan amount up to Rs.25 Lakhs with minimal documentation.
- Flexible loan tenure
The loan tenure is the time duration at which the lenders sanctioned the loan to the individuals. The loan tenure influences that how much rate you have to pay on loan, i.e., shorter your loan term, the lower interest rate you have to pay. So, try to choose the lender, which gives you the flexibility for repayment of the loan. One can apply for a loan from Bajaj finance, as the loan repayment of the Bajaj Finance loan is from 12 months to 60 months.
Know more about Bajaj finances loan, from here https://www.applykaroo.com/loans/bajaj-finserv-personal-loan.
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