A simple guide to best personal loan lenders in 2021

A simple guide to best personal loan lenders in 2021

2021 has taken off without any big bad news, hoping it would continue throughout the year. So, if you want to start or want to do something, a personal loan could help you out. This is why today, we wanted you to look at the best personal loan apps of 2021.

These apps could help you out to get a personal loan quickly without any hiccup. However, knowing the critical information is essential. Let’s begin with understanding the lender’s name. They are Indiabulls instant personal loan, Money views personal loan, and Bajaj Finserv  personal loan. We will get to see every detail. Let’s begin.

Indiabulls instant personal loan

The Indiabulls personal loan is one of India’s best lenders. Its fast service, complete transparency, and no hidden charges have made it the borrower’s favorite.

  • Indiabulls offer the loan amount up to Rs 15 lakhs.
  • The rate of interest is 13.99% P.A onwards.
  • The loan tenure is from 3 months to three years.
  • The processing fee starts at 3%.
  • The foreclosure charge is allowed after six months at a 5% charge.

Other charges levied by Indiabulls instant personal loan

  • The late payment penalty is 3% per month.
  • The bounce charge is Rs 750.
  • The duplication repayment schedule charge is Rs 500.
  • The duplicate NOC is Rs 500 per request.
  • The loan cancellation charge is Rs 3000.
  • The loan re-booking charge is RS 1500.
  • The statement of account charge is Rs 500.

The eligibility criteria for Indiabulls instant loan

  • The borrower should be an Indian citizen.
  • The borrower’s minimum age should be 21 years old.
  • The borrower should be a salaried individual or self-employed professional.

Required documents

  • Identity proof ( Aadhar card, PAN card) 
  • Address proof ( Electricity bill, utility bill)
  • Bank statement
  • Salary slips

How to apply for Indiabulls personal loan?

To apply for Indiabulls instant personal loan, you could download it’s an app or visit the official website. There fill out the form, submit it. Then after the verification process is completed, the loan amount is disbursed. Now, we will check out the next lender.

Bajaj Finserv personal loan

Bajaj Finserv’s personal loan has easy documentation, a high approval rate, and quick processing. The entire process is done online to speed it up. You could get the loan in less than one day. And there is might particular personal loan for Tech Mahindra employees from Bajaj Finserv at a low-interest rate.

  • Bajaj  Finserv offers a loan amount of up to Rs 25 lakhs.
  • The personal loan interest rate starts at 10.99% P.A
  • The processing fee is up 3.99% of the loan amount.
  • The loan tenure is up to 5 years.
  • The penal interest is 2% of the monthly EMI.

The other charges

  • The foreclosure charge is 4% on the principal loan amount.
  • The part-payment charge is 2% of the amount.
  • The secure fee is Rs 4,499.
  • The bounce charge is between Rs 600 and Rs 1200.

Types of Bajaj Finserv personal loan

  • Personal loan for Wedding
  • Flexi loans
  • Personal loan for Travel
  • Personal loan for a medical emergency
  • Personal loan for Doctors
  • Personal loan for Chartered accountant
  • Personal loan for Self-employed

The eligibility criteria for Bajaj Finserv personal loan

  • The borrower’s age should be minimum of 23 years and a maximum of 55 years.
  • The borrower should be an Indian resident.
  • The borrower should be an employee of a private, MNC, or public company.
  • The borrower’s minimum salary should be Rs 25,000 per month.

Required documents for Bajaj Finserv personal loan

  • The application form
  • Proof of identity ( Passport, Aadhar Card, Driving license, Voter ID card)
  • Address proof ( Registered rent agreement, passport, utility bill)
  • Income proof ( ITRs Salary slips and bank statement for the last three months)

Features & Benefits of Bajaj Finserv personal loan

  • The application process is smooth and easy.
  • It offers one of the lowest EMI in the industry.
  • The loan is quickly disbursed.
  • There are exclusive offers for existing customers.

How to apply for Bajaj Finserv personal loan?

You could head to its official website to apply for the loan. There is also the Bajaj Finserv app available on the Google play store. Download the app to apply for the loan. Let’s see the next lender.

Moneyview personal loan

Moneyview personal loan is aimed at those borrowers who often face issues to get the loan. The process is entirely online and offers verification info, real-time status tracking, etc.

  • Moneyview offers a personal loan from Rs 10,000 to Rs 5 lakhs.
  • The rate of interest starts at 1.33% monthly.
  • The loan tenure is up to five years.
  • The loan processing fee is 2.5% onwards.
  • The foreclosure is allowed after 3 EMIs.
  • The interest on overdue EMIs is 2% per month.

Features & Benefits of Moneyview personal loan

  • The loan is quickly disbursed in less than 24 hours once it is approved.
  • The verification process is instantly complete.
  • The process is friendly and seamless.
  • The process is digital entirely, thus saving time and effort.

The eligibility criteria for Moneyview instant loan

  • The applicant must be an Indian citizen.
  • The applicant should be a salaried individual or self-employed professionals, or a businessperson.
  • The applicant’s age should be between 21 years and 57 years.
  • The applicant’s minimum salary should be at least Rs 13,500 monthly.
  • The applicant’s CIBIL score should be at least 650.

Moneyview loan documents required

  • Identity proof
  • Passport size photograph
  • Address proof
  • Bank statement for the last six months

How to apply?

You could download the Moneyview app from the Google Play store to begin. Follow the instructions to apply for the loan.

The conclusion

So, these are the lenders, Indiabulls instant personal loan, Bajaj finserv personal loan, and Moneyview loan to help you out in 2021 to get a personal loan. These apps will help you guide to make the right decision.

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