Know About Personal Loan:
A personal loan stands as an unsecured financial option, devoid of collateral or security backing. This characteristic imparts flexibility to its utility, allowing for unrestricted use. The following are ways in which a personal loan can prove beneficial:
Debt Consolidation: By consolidating multiple debts into a single loan featuring a lower interest rate, one can save on interest payments and streamline the management of debts.
Home Renovation: Utilizing a personal loan for funding home renovation projects can enhance the value of your home and elevate your living conditions.
Medical Expenses: In the event of unforeseen medical costs, such as emergency surgery or hospitalization, a personal loan can serve as a financial resource to cover the incurred expenses.
Emergency Expenses: Personal loans are valuable for covering unexpected costs, like medical emergencies or car repairs, thereby preventing financial hardship.
To qualify for a personal loan, you have to meet certain criteria. Below are the important factors that lenders take into consideration to decide your eligibility for a personal loan.
- Age should fall under the range of 21 years to 60 years
- Net monthly income should be 15,000/- for salaried and self-employed, yearly transactions should be a minimum of 20 lakhs
- Credit score must be above 650
- Debt-to-income ratio
- Employment stability
- Maintained a good credit score
- Clear repayment history
- Must be a Resident Citizen of India
Identity Proof – Passport, Voter’s ID, Driving License, PAN Card, Aadhaar Card
Proof of Residence or Address Proof – Passport, Voter’s ID, Driving License, PAN Card, Aadhaar Card, Electricity Bill, Telephone Bill, Ration Card
Age Proof – Passport, Voter’s ID, Driving License, PAN Card, Aadhaar Card
Income Proof – 1 year Bank statement, 3 months Salary Slips
Employment Proof – Employment Certificate, Office address proof
GST or VAT Registration for Self-employed
Photograph – Passport-size photographs
Business proof – Business registration documents such as a partnership deed, Memorandum of Association (MOA), Articles of Association (AOA), etc.
Income tax returns – Documents of the past 2-3 years to verify income and tax payment history
All applicable charges will be determined in accordance with the policies and regulations of the respective Bank and Non-Banking Financial Company (NBFC). The fees and charges associated with services, transactions, or financial products will be subject to the terms and conditions set forth by the specific institution. It is advisable to carefully review the fee structure, interest rates, and any other associated costs provided by the Bank or NBFC before availing any services or entering into financial agreements. Additionally, for the most accurate and up-to-date information, it is recommended to directly contact the institution in question or refer to their official documentation.
FAQs
Brzlego India provides Direct Selling Agent (DSA) services for a variety of loans, including Personal Loan, Home Loan, Business Loan, Education Loan, Loan Against Property, Doctor’s Loan, Car Loan, Two-Wheeler Loan, and Plot Loan.
Brzlego India has partnerships with ICICI Bank, HDFC Bank, LIC HFL, Chola, Aadhar Housing Finance, Fullerton Financial, Utkarsh Small Finance Bank, Jana Small Finance Bank, Lendingkart, and Faircent.
You can apply for a loan through Brzlego India by contacting our team or visiting our website. Our expert team will guide you through the application process.
Brzlego India offers a wide range of loans, including Personal Loan, Home Loan, Business Loan, Education Loan, Loan Against Property, Doctor’s Loan, Car Loan, Two-Wheeler Loan, and Plot Loan.
No, Brzlego India is not a financial institution. We are a Direct Selling Agent (DSA) facilitating loan services through our partner banks and financial institutions.
While credit scores are considered, each case is unique. Contact our team, and we will explore the options available for you.
The required documents vary based on the type of loan. Generally, proof of identity, address, income, and property documents are needed. Our team will guide you through the specific requirements.
The approval time varies depending on the type of loan and the documentation provided. We strive to ensure a quick and hassle-free approval process.
Yes, many of our partner banks allow prepayment of loans. However, terms and conditions may apply. Please check with our team for details.
We are transparent about the charges associated with loans. Our team will provide you with a clear understanding of all applicable fees and charges.
We are transparent about the charges associated with loans. Our team will provide you with a clear understanding of all applicable fees and charges.
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