Apply for Personal Loan
Mumbai the capital city of the state of Maharashtra has the highest number of millionaires and billionaires in India. With a population of approximately 20 million, this financial centre stands as the second-most populous city in India, and the eighth most populous city in the world. A natural deep harbour situated on the Konkan coast on the country’s west shoreline, Mumbai was named an alpha world city in the 2008.
One of the costliest cities hosting numerous multinationals and corporates, this commercial city has a reputation for being the city of dreams attracting migrants in search of opportunities. To fulfil your dreams, you need money. We at RULOANS are here to help you fulfil your dreams by being a guide who assists you to secure a hassle-free personal in Mumbai at the lowest possible rate of interest on the best terms and conditions at no extra cost.
Available as a loan that requires no collateral, you can avail a personal loan easily on the basis of your income. A personal loan has many end uses, some of which are listed below.
An emergency personal loan to finance sudden and unforeseen expenses
A personal travel loan that covers expenses while on vacation or a holiday
Meet marriage related expenses with a personal wedding loan for a special occasion
Pursue higher studies with a personal education loan to cover your expenses
Pay off old debts and reduce interest payments with a personal debt consolidation loan
A personal home renovation loan to upgrade and improve your residence
The term Loan Eligibility in broad terms refers to your ability or capacity to avail a personal loan from a Bank or a NBFC. Lenders use Eligibility Criteria as a benchmark to decide the quantum of funds to be lent on the basis of your financial credentials such as your income, other obligations, additional source of income, etc., subject to your age, which decides your personal loan tenure. Income and age are not the only criteria for determining loan eligibility. Combinations of other factors such as your employment, your CIBIL score, etc., are also used to determine personal loan eligibility. Eligibility Criteria required are as listed below.
Your age becomes an important criterion as a measure of your ability to repay a Personal Loan. As a rule, you will not be denied a personal loan should you be a person aged between 21 to 60 years.
Should you be a salaried individual, you are eligible for a personal loan.
Your term or period of employment becomes a measure of your reliability to repay a loan in time. A Personal loan for salaried employees dictates that you must be working for an MNC, or a Private, or Public Limited Company, with a minimum work experience of 2 to 3 years.
The minimum salary or income required for a personal loan for eligibility differs from lender to lender. You as a salaried person should have a minimum salary of Rs. 15,000 per month.
Lenders assess your creditworthiness or ability to repay a personal loan by accessing your credit score, which derives from your credit history in your credit report. Your credit score affects the loan amount, period of credit, interest rate, and terms that you are offered. Your Credit Score (CIBIL) should be above 650.
We at Ruloans are committed to making your borrowing process smooth. Documents required for a personal loan are minimal. We request you to submit correct information and papers so that your personal loan application can be processed in the shortest possible time. Documents required are as listed below.
Step 2 : Apply
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Step 3: Fill
Fill In Personal And Financial Details
Step 4: Submit
Most banks and lending institutions offer Personal Loan Interest Rates to a loan applicant after weighing factors such as his credit score, monthly income, occupation profile, etc. Hence, personal loan interest rates offered by as many lenders as possible, based on the credit scores and other aspects of your credit profile. Consider the following to avail a personal loan at the lowest interest rate available.