A personal loan has no collateral or security requirements and minimal documentation requirements. The funds from this loan can be utilized to meet any reasonable financial need. However, just like any other loan, you must repay it according to the bank’s agreed-upon terms.
Features and benefits of Personal loan
- Hassle-free application
The hassle of visiting a bank and the documentation process takes a significant amount of time. Furthermore, applicants are frequently confused about what to attach to their applications. Therefore, at Insta Loan Services, you have to fill out a simple application form and submit the documents mentioned below.
- Flexible Tenor
The personal loan repayment period will be based on the amount of loan you’re taking. The interest rate, and loan eligibility. Moreover, personal loans at Insta Loan Services have flexible periods where you can pay without getting into any debt trap.
- Complete professional support
With Insta Loan Services, you get professionals and their complete time. Furthermore, you can put across any question or query until you get complete satisfaction. Also, you can have free advice from our professionals on processes like repayment, interest rate, and others.
- Low-interest rates
You can acquire a personal loan with a low annual interest rate if you are a working individual or self-employed. Moreover, we guarantee customized personal loan agreements with no hidden fees and low-interest loan consolidation.
Eligibility for a personal loan
The age must be 21 years old for the individual applying for a personal loan. Also, you can apply for a personal loan if you are a government employee with a pension. However, the age bar is up to 70 years. If you work for a private company, you can only use it until you reach the age of 60.
When it comes to your employment, you can only apply for personal loans if you work for a public sector undertaking firm, a government institution, or a public corporation such as a private limited company or a limited company. Furthermore, If you work for a proprietorship firm, such as an individual proprietorship or a HUF, a partnership firm, such as an LLC, a multinational corporation, or a proprietorship firm-run institution, you can apply.
You’ll have to give identity proof(copy of passport/ Aadhaar card/ voter ID card/ driving license). The second document is address proof. Additionally, you have to give the bank statement for the past three months, plus the two latest salary slips.
- Credit score