Personal Loan in Nashik

Personal Loan

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About Personal Loan:

A personal loan refers to money that is borrowed from a financial institution, for personal (not professional or business) use. In opposition to larger and long-term loans, personal loans are taken into relatively short to medium terms. Generally personal loans are used to pay for one-time or short term expenses where a borrower (the person who is getting the loan) doesn't normally require disclosing the specific reason for the loan. This type of loan is used by many to resolve their current financial needs. A personal loan is taken for tenure of one to five years. Also these require lowest formalities and no collateral or security.

It is a type of unsecured loan which can be availed on the basis of various criteria. Level of income, employment history, credit score and scope for repayment are those specific criteria. Considering these criteria and lender, the APR (Annual Percentage Rate) of personal loan can be anywhere between 11.29% to 35%.

Why Should I Take A Personal Loan In Nashik?

In every individual's life there comes a moment where you urgently need a specific amount of money which can't be covered by your savings. The amount can be needed for any personal reason like home or vehicle repair, to pay unexpected medical bills, for wedding, travel, credit card outstanding balance transfer etc. Here the option of getting this desired amount via personal loan comes extremely handy. With a population of more than 2 million people, Nashik is growing day by day. The wine capital of India is becoming an IT hub, a strong ground for start ups, most preferred place for destination weddings, a paradise for food lovers and a place to attain religious salvation. The city is full of exciting people getting into new ventures every day. To fulfill the everyday needs of Nashikkars, be it big or small, a smart personal loan is the perfect way to get financed.

Why Choose Ruloans To Apply For Personal Loans in Nashik

Ruloans is one of India's leading distributors. A comprised team with mammoth experience in finance and internally developed highly proficient Loan Calculator algorithm, we are pledged to offer solutions to all your financial needs. Borrowers in Nashik can apply for personal loans with Ruloans' latest online application process. You can choose from a plethora of banks and NBFCs on our website for your loan. We help you borrow right.

Hassle free process

We have developed an efficient, smooth and easy process for our consumers to get a personal loan. Our easy to use online procedure allows consumers to upload documents quickly. Our highly proficient Loan Calculator also guides the consumers to embark on a hassle free process

Benefits of applying with us

We value our consumers and are always on our toes to give them benefits of our expertise. Applying for a personal loan with us, gives you a chance to avail the best offers and deals from our partner banks and NBFCs.

Compare your loan options

You can compare interest rates, offers and services on our online portal. This will guide you to make the right choice and choose the right lender for your loan as per your budget.

Free expert guidance and advice

Our financial experts are always ready to give you the perfect advice. These highly trained professionals in finance know the back and forth of the industry. Our dedicated team of experts will help you at any given time, without charging a dime.

Privacy policy

Ruloans understands the value of your documents and keeping them safe and secure. Hence be rest assured as your loan applications are processed electronically with complete privacy and transparency.

Features & Benefits of a Personal Loan

There are many reasons behind the popularity of taking an instant personal loan. Here are some of the features and benefits;

They have easy availability

The main reason behind the popularity of personal loans is untroublesome availability. The personal loans can be acquired within 24 to 48 hours of loan application and submission of required documents. Almost all banks offer personal loans to its customer thus making it easily accessible.

They need minimum documentation

Unlike the other long term or larger loans, personal loans require very little documentation. Thus these loans are approved quickly without any hassle.

You get expeditious loan approval

As many financial institutions offer personal loans and they require minimum documentation, they are approved quickly. When it comes to online personal approval, they are approved quickly where as the paper approval takes not more than one to two working days. The mechanism of approving personal loan is very easy, efficient and hassle free.

You can consolidate your debts

When it comes to financial debts, we strongly recommend clearing off a high-interest debt by taking a low-interest debt. If you happen to have multiple debts, you can combine them under one umbrella. By opting for a personal loan, you can pay off your multiple debts and be answerable to only one, which is a more hassle-free solution! Also you can clear your credit card bills by choosing personal loan for a balance transfer. This will allow you to enjoy lower interest rates.

You can take multipurpose loan

The fund from this type of loan can be used for any purpose. Be it a wedding or medical expenses; renovation or personal bulk shopping, you can use these funds as they suit you. They can mainly be used to overcome any financial adversaries. Borrower can apply and access the loan amount without disclosing the purpose of the same.

No need for any collateral

To get approval on a personal loan, you do not need to offer any collateral or guarantee. Bank approves personal loan on the basis of borrower's income details and financial history. As you do not require offering your fixed assets as mortgage or collateral, you can access the loan easily.

Offers adjustable loan amount

Based on various criteria like level of income, employment history, credit score and scope for repayment, the borrower can get a personal loan ranging anywhere between Rs. 1,00,000 to Rs. 20,00,000 Though this also depends on the bank, the amount has always been extremely flexible.

You're rewarded with flexible payback option

To payback your personal loan, banks offer you a tenure ranging from 1 year to 5 years. Thus it is easy for the borrower to pay back the loan with easy EMI policies. Though this depends on the amount of loan and the bank policies, it is always a better option from other types of loans.

What are the Eligibility Criteria to avail a Personal Loan?

Banks offer personal loans to customers who fulfill their designed eligibility. The eligibility criteria changes from bank to bank and the profile of the borrower. But there are some commonalities which you have to follow or acquire to get a personal loan from any bank. Banks give personal loans by dividing their customer's profession and their income history. You can refer the following table for a gross understanding of bank's eligibility criteria:




Minimum Loan Amount Approved

Maximum Loan Amount Approved

Loan Tenure

Salaried Borrowers

21 years to 60 years

Rs. 15,000 (Rs. 20,000 in metros)

Rs. 75,000

Rs. 15,00,000

12-72 months

Self-Employed Borrowers

23 years to 60 years

self employed borrowers - Rs. 24,00,000 (differs for professionals and non-professionals)

Rs. 75,000 to Rs. 3,00,000

Rs. 15,00,000 to 20,00,000

12-48 months

*The eligibility criteria differ from bank to bank. The above details are generic, not specific.

What are the Documents Required to avail a Personal Loan?


Identity Proof

Address Proof

Bank Statement

Additional Documents

Salaried Borrowers

Passport, Driving License, Voters ID or PAN Card

Passport or utility bills

Salary slips for last 3 months, 6 months bank statements

Self-Employed Borrowers

Passport, Driving License, Voters ID or PAN Card

Last 6 months

Last 2 years ITR, Balance sheet, Profit and Loss for last 3 years certified by CA

*The list of documents differs from bank to bank. The above given list is generic, not specific.

How can you repay your Personal Loan?

Interest rates

Personal loans are easy to pay back. Depending on eligibility criteria, the borrowed sum, payback tenure and the lender or bank, the interest rate varies on personal loan. They start from as low as 10.85%. Many banks use their specially developed interest rate calculator to give you a fare percentile of interest rate.

Easy EMI

Many banks now-a-days offer their customers to use ultra modern facility of EMI calculator. The calculator comes with two scales: loan amount and tenure. Here borrowers can choose their desired loan amount and tenure to pay it off. The calculator tells you the interest rate, processing fee and can help you to choose most suitable loan option as per your budget.

Flexible tenure

You can pay off the loan in tenure of 1 to 5 years. Some banks also offer a tenure of 7 years which depends on the profile of the borrower.


The payment of decided EMI is done through auto debit or ECS facility offered by bank.

How to Apply For a Personal Loan on Ruloans?

Applying for a personal loan on Ruloans involves few easy steps:

Step 1: Go to the 'Personal Loan in Nashik' page on our website and click on 'Apply Now' box.

Step 2: Fill out the initial personal and financial information. Once completed, our loan calculator checks your eligibility with its highly efficient algorithm.

Step 3: Our loan calculator presents you a list of banks and NBFCs most suitable for you as per your eligibility criteria. The list will include the name of the financial institutions, interest rates, required document list etc.

Step 4: From the given list, you can choose the financial institute of your choice. You can start filling up the form and upload the required documents. Here, if needed, you can call or mail our experts for advice. The contact details are given on our website.

Step 5: Your application will be sent electronically to the bank you selected. You will be informed about the status of your application via SMS, email or you can track it via website too.

Frequently Ask Questions

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