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Small Personal Loans - Instant Approval for Your Financial Needs
Often we need a small amount of money to overcome certain financial challenges. The shortage of funds can cause hindrance in your work and timely financial aid can sail you through the emergency situation seamlessly. Small personal loans are your best bet in such cases when you need a small loan amount for a short duration of time. It can be attained by individuals or by businesses. A good credit score is evident to grab the small personal loans quickly.
Many lenders offer small personal loans at a lower rate of interest. One can ask their bank with which they have their account for lending them a personal loan. The basic consideration for any lender is the credit history of the borrower. One can also look for other lenders offering small personal loans on online portals like LoansJagat and compare them to choose the most suitable lender on account of rate of interest, loan amount etc.
Types of Personal Loans
Personal Loan for Salaried Employees
Just state your salary in the past 3 months, and the money will be credited to your bank account in 24 hours.
Personal Loan for Women
We believe in empowering women. That’s why women in Noida can borrow loans at the best rate of interest with LoansJagat.
Personal Loan for Government Employees
Government employees are the most preferred candidates on the loan application priority list. Apply now and get approval within 24 hours.
Personal Loan for Education
Don’t let your low income affect your child’s education. Apply for a personal loan for educational purposes to get instant funds within 24 hours and let him/her study at the dream college.
Personal Loan for Doctors
LoansJagat helps doctors in times of need with personal loans at guaranteed lowest interest rates starting at 10.55%.
Personal Loan for Travel
Why wait for that monthly pay cheque to take a trip to your dream destination? Just apply for a personal loan to travel with us.
Personal Loan for Wedding
Don’t wait for years to have an amazing wedding. Apply for the loan now, and plan your wedding without worrying about expenses.
Personal Loan for Home Renovation
Don’t think twice to renovate, repair, or expand your home this festive season. Apply for a loan to make your home brand new.
Personal Loan for Debt Consolidation
Why are you paying multiple EMIs for multiple loans? Apply for a personal loan for debt consolidation and pay just 1 EMI/month.
Personal Loan for Overdraft Needs
Apply for an overdraft EMI-free loan even if you have 0 balance in your bank account. This will be your emergency fund, and you have to pay just interest on the used loan amount.
Benefits Of a Small Personal Loans
Small personal loans come with a large number of benefits. They can be used as per the borrower’s discretion. Here are some key benefits of small personal loans.
Save on Debt with Low-Interest Loans
Since small personal loans come with a lower rate of interest, they can be used to consolidate the debts or pay off the loans to save on some money which would otherwise have gone as interest.
Finance Big Buys with Small Loans
One can make large purchases using small personal loans with long repayment tenor. The rate of interest charged is low and thus the deal is worth grabbing.
Use Small Loans for Home Projects
These loans can be used to meet the home improvement projects which doesn’t need a big amount.
Cover Emergencies with Low-Rate Loans
Small personal loans also come handy in need of financial emergencies. Since these loans are offered at better rates than credit cards, they help you manage the financial aspect of such emergencies like medical expenses, damages, etc with ease.
Features & Benefits
Eligibility
Who can apply:
- Minimum ₹ 25000 monthly income in metro cities and ₹ 20,000 in other cities
- Salaried individual
- A credit score above 650
- Total work experience of atleast 1 year
Age:
- Above 23 years and below 58 years
Required Documents
Identity Proof
- Passport
- Voter ID
- Driving License
- Aadhar Card (Mandatory)
- Pan card (Mandatory)
Any of the following
Address Proof
- Passport
- Utility Bill
- Aadhar Card
- Driving License
Any of the following
Other Docs
Mandatory
- Salary Slips ( Last 3 months)
- Salary A/c Bank statement ( Last 3 months)
Calculator
Calculate your Loan EMI in 3 easy steps. Use the slider to set your loan amount, interest rate and tenure to understand your loan summary
Loan Summary
Loan Amount
₹ 100,000
Interest Payable
₹ 17,397
Monthly EMI
₹ 1,957
How to Apply
LoansJagat is a platform to offer small personal loan quickly and efficiently without having a difficult application process. Our aim is to offer a hassle-free process so that no one has to wait for their dream to become a possibility. Apply for a loan right away!
- Scroll Up. Fill in the basic details about your name, number, and work profile.
- Fill in your personal details. For example, your email, company name, and DOB.
- Mention your credit score, PAN number, and salary-related information.
- Compare the offers from 20+ banks and NBFCs before applying for loans.
- Organise all the documents, like the Aadhaar Card, PAN Card, residential proof, KYC details, and past 3 months' bank account statement. Submit these documents when needed.
- After successful document verification, your loan will be approved and money will be credited to your bank account.
Tips to Avoid Loan Rejection
The following guidelines assist in improving the chances of loan approval to avoid the possibility of rejection of small personal loan.
1. CIBIL Score Above 650
You have a high chance of loan approval if your CIBIL score is more than 650. So, try to increase your credit score to match this number. You have a high chance of loan approval if your CIBIL score is more than 650. So, try to increase your credit score to match this number.
2. Lower Debt-To-Income Ratio
If you majorly depend on your credit card, even after spending your monthly income, then the chances of loan approval are low.
3. Clear Existing Debts
Try to stay clear of all the outstanding debt. If you repay your loans timely, then banks will prefer to lend more loans to you.
4. Provide Verified Information
Don’t lie about your information over the tele-verification process. If found not true with supporting documents, the chances of rejection increase.
5. Stable Employment
Try to have a stable job for at least 1 year before applying for a loan. This will help you have more chances of loan application approval.
6. Credit Report of Last 6 Months
When you are planning to apply for a loan, make sure that your credit history of the last 6 months is up to the mark.
7. Timely EMI Repayments
If you pay your loan EMI on the due date/month. Then your credit score will boost instantly. This will guarantee instant loan approval.
8. Don’t Engage in Paid Fantasy Gaming Apps
Avoid getting addicted to betting on paid fantasy gaming apps like Dream 11, Ludo, Poker, etc. Remember, there is no shortcut to long-term wealth.
9. Clean Salary Bank Account Statement
Do not engage in external transactions on major stockbroking platforms. Try to keep a clean transaction history of your salary bank account.
10. Average Bank Balance
Investing in derivative products like Future and Options (F&O) trading is a very risky scenario if you are planning to avoid loan rejection.
11. Multiple F&O Transactions in the Stock Market
If you can retain 25% of your monthly income as savings in your bank account, then banks will prefer to approve your loan application.