It is often perceived as personal loans are meant for individuals earning high income only. While lenders seek the income aspect into consideration when deciding upon the interest rate and loan amount to sanctions, but it is not true that low income doesn’t get you a personal loan. LoansJagat helps you to get quick personal loans without any hassle. The LoansJagat online portal offers personal loan approval as quickly as within 24 hours of the loan application.
Personal loans are saviours in times of financial emergencies. These are unsecured loans and do not require any collateral to be kept as a security against the loan. That is why lenders charge a higher rate of interest on personal loans. Also, personal loans are flexible in terms of usage and the borrower can use the loan amount as per his discretion. One can use the loan amount to finance a wedding, pay for education, vacation, home improvement projects, consolidate debts, or even for meeting out medical emergencies.
The market is flooded with lenders offering personal loans at competitive prices. It is imperative to compare different lenders before finalising one. Different lenders offer different interest rates and charge processing fees. Based on your credibility, you can negotiate with the lender for the best possible offer.
Tips to Get a Quick Personal Loan?
LoansJagat is dedicated to offering personal loans to everyone. Low-income group individuals can also get access to the best offer on personal loans. One can compare different lenders on the online platform on account of their offerings in terms of interest rates, loan amount, EMI etc and choose the lender with which you want to get a personal loan.
The steps mentioned below help to find quick personal loans.
- Filling up of loan application form: Once you have zeroed in on the lender, you can fill up their loan application form directly through the LoansJagat portal. You need to enter the KYC and income details in the form.
- Checking the eligibility criteria: Check the eligibility criteria and ensure you comply with each else your loan application can get rejected.
- Submitting the documents: The applicant needs to submit a few documents alongside the loan application. One can either upload the documents directly on the portal or physically submit them at the chosen bank. Submitting via LoansJagat portal is a faster way of getting loan processed.
- Getting a call from the lender for verification and discussion: Once your application form and documents are submitted, you will get a call from the lender for the verification process.
- Loan approval: Get loan approval as quickly as within 24 hours.
- Loan Disbursal: Post the loan approval, the sanctioned amount will be disbursed in your loan account.
Advantages of Quick personal loan at LoansJagat
- Quick approval: LoansJagat ensures instant personal loan application approval. This is subject to the fact that you comply with the eligibility criteria and submit the requisite documents alongside the application.
- Loan disbursal as quickly as within 24 hours: Once the personal loan has been approved and your documents verified, the loan amount gets disbursed directly into your account as quickly as within 24 hours.
- Flexible loan tenure: One can choose a longer repayment tenure and get an EMI drafted as per one’s monthly income which can be easily afforded.
- No requirement of any collateral: Loansjagat offers quick personal loans without the requirement of any collateral to be kept as security.
- Transparent Platform: Loansjagat offers a transparent platform wherein all the hidden charges are laid before the borrower beforehand only. They have their terms and conditions clearly defined. LoansJagat helps the borrower to be alert and enables to read between the lines and get any doubt cleared if need be.
- Dedicated loan advisor: LoansJagat allots a dedicated loan advisor who takes care of your loan processing, application, approval and disbursal and guides you at every step. They ensure quick personal loan approvals and maintains communication between you and the lender throughout.
Thus LoansJaagat is your one-stop platform for getting quick personal loans even with low income. However, it must be noted that personal loans like any loan are a liability which must be paid back on time. With low income, it can be difficult to manage finances sometimes. It is therefore advisable to go for the loan amount which you actually need to meet your financial emergency and which you would be able to pay back easily in small equated monthly instalments. This is very crucial as a low debt to income ratio or default in making the payments to the lender on time can have a significantly bad effect on your credit score. A bad credit score will create a pothole in your credit report and you will have difficulty in getting loans in the future.