Here’s How To Get Quick Access to Finance in Delhi

Apply For Collateral Free Unsecured Personal Loan Online

Delhi has a vibrant economy, which makes it one of the most expensive cities to live in the nation. Its per capita income has risen by over 10% from 2017–18 to 2018–19. However, due to equally increasing living costs, your salary and savings may not be sufficient to address emergencies. Faced with such urgencies, you can avail an instant personal loan and get quick access to required funds with ease. Here’s how you can apply for a personal loan in Delhi.

Evaluate Your Financial Needs

Before applying for a personal loan, evaluate your needs to ascertain the amount you require. For instance, if your purpose is to upgrade all the consumer durables in your home, you may have to avail a loan of around Rs.5 lakh. Conversely, if you have to pay for a major surgery, you may need a higher loan amount. Instead of borrowing arbitrarily, determine the purpose and then borrow an amount that suits your needs. This will ensure that you don’t over borrow and hence, overspend.

Compare Lenders and Their Offerings

Next, screen lenders and their offerings to find the best deal. Look for lenders that not only offer a substantial sanction at affordable interest rates, but also other features that elevate your experience. For instance, Bajaj Finserv sanctions high-value personal loans of up to Rs.25 lakh on a competitive interest rate, without collateral. It is disbursed to your account within 24 hours of applying for it, so you can meet emergencies and big-ticket expenses with ease.

Further, you can access this personal loan in Delhi through the flexi facility. Here you can withdraw from your sanction on the go and interest is charged only on the amount you use. Moreover, you can repay the loan through interest-only EMIs and pay the principal at the end of the tenor, to enjoy 45% lower EMIs.

Meet The Lender’s Eligibility Criteria

Next, check your lender’s eligibility criteria. Since this helps the lenders gauge your creditworthiness and repayment ability, meeting all or most of these terms will allow the lender to process your application quickly, while offering flexible terms. To increase your chances of approval of a personal loan in Delhi NCR, apply with a lender who has simple eligibility criteria, like Bajaj Finserv. Take note of the eligibility requirements:

  • You should be a resident of India between 23 and 55 years of age

  • You should be a salaried employer of an MNC, public or private organisation in Delhi

  • You should be earning a minimum monthly salary of Rs.35,000

Calculate Your EMIs Beforehand

Once you choose a lender, use an online EMI calculator to ascertain your EMIs beforehand. The calculator is easy to use and available online. Use it to tweak the loan amount and tenor until you reach a favourable EMI amount. If you think an EMI is costly, lengthen the tenor to reduce it or lower the loan amount. Likewise, if you think you can accommodate higher EMIs and repay the loan in a shorter time, decrease the tenor. Toggle the various figures until you reach a cost-effective EMI.

Keep Your Documents Handy

Once you meet the personal loan eligibility criteria, discuss the personal loan documents needed with your lender. Since documents prove your eligibility, submitting the required ones on time will hasten approval. Typically, you’re required to submit these documents:

  • KYC documents

  • Employee ID card

  • Last 2 months’ salary slips

  • Last 3 months’ bank account statements of the salary account

Your lender may also ask you to submit additional documents when processing your application, but this depends on a case-to-case basis.

once you are ready, apply for an instant personal loan in Delhi with your preferred lender from the comfort of your home. Alternatively, you can also apply by visiting the lender’s nearest branch. Before doing this, check your pre-approved personal loan offer from Bajaj Finserv. Use tailor-made offers to apply and escalate access to finance.

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Akshay Sharma

Hi! I’m Akshay Sharma. I’m a blogger at Imagination Waffle. I love to read and write about Fitness, Health & Lifestyle topics.
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