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Business News/ Brand Stories / Personal loans: a multi-purpose solution for your financial needs

Personal loans: a multi-purpose solution for your financial needs

Discover the advantages of taking out a personal loan and how it can help you achieve any of your financial goals

Many NBFCs in India extend personal loans at competitive interest rates, along with minimal documentation requirements. Premium
Many NBFCs in India extend personal loans at competitive interest rates, along with minimal documentation requirements.

When it comes to making large expenses to fulfil our aspirations, we often hesitate to pay the lumpsum amount and end up postponing it. For instance, you may have harboured the wish to renovate your home or take up that executive MBA. However, due to financial constraints, we tend to defer these aspirations.

In such circumstances, personal loans can prove to be invaluable. These unsecured loans cater to a wide range of purposes, including unforeseen medical expenses, planning an extravagant wedding, or renovating your home. Many NBFCs in India extend personal loans at competitive interest rates, along with minimal documentation requirements. One such NBFC is Bajaj Finance Limited, which is known for its swift approval process and streamlined documentation requirements.

Below are some of the benefits associated with availing a personal loan from an NBFC:

  • Easy documentation

One of the most essential benefits of personal loans is the minimal documentation requirements. Financial institutions generally require verification of your age, address, salary slips, income tax returns, credit history, and so on. These supporting documents can be submitted digitally if you are applying online.

  • Substantial loanamount

One of the main benefits ofapplying for a personal loan online is the amount available to applicants. Personal loans can give high loan amounts, depending on the lender and the borrower's creditworthiness. This is a good option for individuals who need funds for larger expenses. Bajaj FinancePersonal Loan allows you to pay for large expenses by providing loans of up to Rs. 40 lakh.

  • Quick disbursal of funds

Personal loans are processed and issuedfaster than any other type of loan. As a result, it is a popular option for those in need of money instantly. Bajaj FinancePersonal Loans are disbursed within 24 hours* of approval. As a result, it is the best solution for dealing with unplanned or urgent needs without breaking a sweat.

  • No security is needed

In contrast to secured loans like a home loanor gold loan, you are not required to put up any asset as security for the loan amount. Additionally, because there is no requirement for collateral, the verification process for personal loans is quicker and more convenient because there is no need to confirm the worth of assets.

  • Flexible tenures

Personal loans haveflexible payback terms, making debt repayment simple for borrowers. The flexible repayment choices offered by Bajaj FinancePersonal Loans make them an accessible option. You can choose a loan tenureranging from 6 to 96 months. This may be the best choice for those seeking greater freedom and flexibility in their repayment plans.

During times of financial emergency, a Bajaj Finance Personal Loan offers a dependable way to address both substantial and minor expenses. You can easily determine your monthly repayments using theonline personal loan calculator. This tool only requires basic information like the loan amount, repayment tenure, and personal loan interest rate. It allows you the flexibility to modify the monthly instalment and loan duration to align with your financial capabilities. Additionally, the personal loan EMI calculator provides a comprehensive breakdown of the principal and interest components.

Visit the Bajaj Finserv website today and apply for a personal loan.

Disclaimer: This article is a paid publication and does not have journalistic/editorial involvement of Hindustan Times. Hindustan Times does not endorse/subscribe to the content(s) of the article/advertisement and/or view(s) expressed herein. Hindustan Times shall not in any manner, be responsible and/or liable in any manner whatsoever for all that is stated in the article and/or also with regard to the view(s), opinion(s), announcement(s), declaration(s), affirmation(s) etc., stated/featured in the same. This information does not constitute a financial advice.

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Published: 20 Sep 2023, 05:08 PM IST
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