What is a Personal Loan?
A personal loan is an unsecured loan with fixed or variable interest rates and usually provided to individuals to meet unexpected expenses, home improvement, debt consolidation and for other expenses not covered by regular loans. Personal loans usually have higher interest rates compared to other secured loans like Home Loan, car loan etc. and that’s because of the unsecured nature of personal loans. A personal loan can help a borrower tide over an unexpected financial crisis without providing any collateral for the loans.
Also, personal loans are approved and disbursed quickly, and this makes it a preferred loan option for many borrowers.
Apply for Personal Loan
If you are thinking of applying for a Personal Loan, then what pops into your mind first? The banks, of course. But, do keep in mind that banks have little or no incentive to offer competitive interest rates to you. You might find your best personal loan rate on the internet rather than in the brick and mortar banks. Also, on the internet, you will have to research multiple bank websites and compare terms, interest rates, loan processing charges, eligibility criteria, pre-closure charges, documentation required and other important details. Jeevan Utthaan, India’s premier Fintech company has partnered with public and private sector banks and other NBFCs to offer customers personal loans at competitive rates. Customers can evaluate personal loan offers from multiple banks in a single dashboard without the hassles of comparing rates, interest-free period, annual fees and benefits on multiple bank websites. With many banks offer instant, paperless approvals, applying for a personal loan is extremely easy.
How it Works