About Personal Loan

Today, getting a personal loan is not difficult, especially if you have a financial emergency. This sort of loan allows you to access the money instantly and requires minimum documentation, making them convenient for you to use.

For those who are looking to get a loan for financial needs, there are several different ways you can borrow money. The most common type of loan is a personal loan. Whether you're self-employed, a business owner or a first time borrower, personal loans can help you get the situation under control. With a personal loan, you do not have to manage your money and spend it yourself. When used responsibly, personal loans are a great way to control your financial future and improve your credit. They are also great for struggling borrowers who need help getting their credit back on track.

Personal loans are sums of money that can be borrowed for various purposes. It can be used for consolidating debts, home renovation, or for planning a dream wedding. Personal loans can be obtained from a bank, credit union, or an online lender.

Typically, you must repay the borrowed money with interest over time, and there may also be fees associated with the personal loans.

Personal loans can be used for just about anything. However, sometimes some lenders want to know what you will do with the money they lend you, but as long as you've borrowed it for a responsible and legal reason, you can do what you want with it. The approval rate of personal loans has been based on the individual's credit history.

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Types of Personal Loan

Personal Loan For Medical Emergency

Medical emergencies do not come with a warning, and with the increase in cost of medical treatments and hospital bills, you may not have enough liquid cash with you during the time of an emergency. In such situations, an instant personal loan for a medical emergency can be a lifesaver. Depending on your eligibility and creditworthiness, you can quickly get a Personal Loan for emergencies up to ₹25 lakhs for a tenure of up to 5 years.

Personal Loans to Finance a Wedding

Weddings in India are costly compared to other countries. It can even blow away all your savings. A wedding budget that involves all your savings is not a wise choice. Personal Loan can ease this problem and give you the chance to have the marriage of your dreams. Thus, planning a wedding is now easier than ever.

Personal Loan To Finance Your Travel/Vacation

A personal loan is an excellent option if you plan a vacation and want to pay your travel expenses without breaking the bank or affecting your monthly budget. Even though credit cards can also fulfill your needs, a holiday loan can make your travel plans easier and at a lower interest rate. Due to its convenience and economic appeal, Personal Loan for Travel is a viable alternative. The main feature is that the application process is simple and you can get your loan easily approved. Many banks offer you a personal loan of up to ₹25 Lakhs and the repayment tenure of the loan goes up to 5 years.

Personal Loan for Higher Education

Secured Personal Loan are offered against collateral such as your degree certificate or a real estate property. But many lenders offer unsecured personal loans to help you finance your higher education. You can get a personal loan to pay your tuition fee, residence fee and use it for any other academic purpose. Most banks will offer you a personal loan to cover expenses related to your education and the loan amounts up to ₹25 Lakhs. The repayment tenure for a personal loan taken to use education can go up to 5 years.

Top Features and Benefits of Personal Loan

Flexible Loan Amount

Everyone's requirements will vary therefore applicants can borrow any amount between Rs.1,000 to Rs.25 lakhs based on their eligibility.

Instant Loan From Multiple Banks

To provide you with a variety of the best and most convenient personal loan offers, we've partnered with numerous banks and NBFCs.

Affordable Interest Rates

We understand how important interest rates are as they determine the EMI amount to be paid. At Money View, the interest rate starts at just 18% - 36% p.a

Free Expert Consultancy

Our experts will advise you throughout the entire loan process, empowering you to make wiser choices.

Personal Loan - Eligibility

Any salaried, self-employed or professional Public and Privat companies, Government sector employees including Public Sector is eligible for a personal loan.

For Salaried Individuals

Applicants must be between 21 years and 57 years.
Income should be at least Rs.15000 monthly and must be credited directly to the applicant's bank account.
You should have a minimum of two years of employment with your present organization for salary purposes.
A minimum CIBIL score of 600 or more or Experian score 650 or more

For Self-Employed Individuals

Applicants must have a minimum In-hand income of Rs. 15,000 per month
Income must be directly credited to the applicant's bank account
A minimum CIBIL score of 600 or more or Experian score 650 or more
Applicants must be between the ages of 21 years and 57 years

Frequently Ask Questions

What Is A Personal Loan, And How Does It Work?

A personal loan is a standard loan that you can avail of from RBS Loan Prime Membership Card. There is no need to pledge any collateral to avail of it. All you must do is apply online, and you will be able to use the loan amount however you like.

How Can We Get Approval For A Personal Loan?

Getting approval for the application process for a personal loan via RBS Loan is easy. You need to keep all your documents ready as the documents vary from one lender to another. However, the approval of most applications mostly depends on your credit history.

What Is The Minimum Salary Required To Avail Of A Personal Loan?

RBS loan has the most straight forward application process to apply for. However, the minimum salary required is ₹15,000 for non-metro cities and ₹20,000 for metro cities.

What Are The Eligibility Criteria To Get A Personal Loan?

Here are the requirements you need to meet:

You must be a citizen of India.
Your age must be between 21 and 57 years.
You must be employed with an MNC, public agency, a private firm, or self-employed individuals.
You must meet the salary requirements as specified based on your city of residence.

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