Personal Loan in Jaipur – Check Eligibility & Apply On

Financial issues are on the rise. To meet your financial needs, do you need a loan? There is no need to look further, as you will find everything you need to know about Personal Loans in Jaipur in this article.

Jaipur as a location

Jaipur is the capital of Rajasthan. It hosts visitors from around the world. It is a popular tourist spot. Besides being a business hub, the city also has several industries. Personal loans are available in Jaipur for those who need help with money.

A person can get a personal loan without collateral and for any reason. Personal loans are unsecured loans without collateral. This loan helps solve many issues, including weddings, travel, home renovations, etc.

Personal Loan in Jaipur- Check Eligibility & Apply Online

Jaipur has a variety of personal loans, and many lenders offer this type of loan. Interest rates start at 10.99% and go up to 24.0%.

A loan amount of Rs. 40 lakhs is the most that can be borrowed. In Jaipur, personal loans are to be paid back in 12 to 60 months.

Eligibility Criteria for Personal Loans in Jaipur

One may get a personal loan in Jaipur based on the following points:

• A minimum age of 21 years and a maximum age of 60 years is required.
• It is mandatory for the applicant to be a resident of Jaipur.
• It is essential that the applicant has a regular income source.
• A good credit history of the applicant is required.

Documents Required for Personal Loans in Jaipur

To go for a personal loan in Jaipur, you will need these documents:

• PAN card, Aadhar card, Passport, etc., are all acceptable forms of identity.
• Aadhar cards, passports, electricity bills, etc., are acceptable proofs of address.
• A salary slip or bank statement can serve as proof of income.
• Documents proving your age, such as your Aadhar card or passport.
• Photocopies of photographs

Personal Loans: How to Apply For Online and Offline?

In Jaipur, you can go for a personal loan offline or online. Banks, NBFCs, and lending platforms offer online loan application forms. Loan agents or bank branches can submit offline applications.

1. Jaipur personal loans can be applied for online by following the steps below:

• You can apply online by visiting the lender’s website.
• Upload the necessary documents.
• You will receive the loan amount once the lender approves the documents.

 2. Offline applications for a personal loan in Jaipur are as follows:

• Fill out an application at the lender’s branch.
• Documents must be submitted.
• Your loan amount will be credited once the documents are approved.

a) Personal Loan Interest Rates in Jaipur

A personal loan in Jaipur can be taken out for as little as 10.99% and as much as 24%. A borrower’s credit score, income, and employment history determine their interest rate.

b) Personal Loan EMI Calculator in Jaipur

EMI calculators allow you to calculate monthly payments towards a loan. Use the EMI calculator to calculate monthly instalments.

Jaipur Personal Loan Repayment

You need to pay the EMI when you have to repay a loan. You will be charged an EMI from your account on a per-month basis. This is done till the loan is fully paid. A loan’s EMI is composed of two parts. The parts are the principal amount and the interest rate.

Set up an EMI calculator for your personal loan in Jaipur to ensure timely repayment. Plan your repayment accordingly by calculating your EMIs in advance.

Factors Affecting Personal Loan Interest Rates in Jaipur

• Credit score: High credit scores indicate a low risk for lenders, hence low-interest rates.
• Income: Low-interest rates are associated with high incomes.
• Employment history: An excellent employment history makes the lender believe the applicant is low risk.
• Loan amount: A high loan amount has a low-interest rate.
• Loan tenure: Long-term loans have low-interest rates.
• Security: Collateral secures the loan and lowers the interest rate.

Personal Loan Fees and Charges in Jaipur

The fees and charges present with personal loans in Jaipur are as follows:

• Processing fee: Lenders charge processing fees for loan applications. 1% of the loan amount is the processing fee.
• Prepayment charges: If you repay the loan early, you will be charged a prepayment charge. There is usually a 5% prepayment charge.
• Late payment charges: Lenders charge late payment charges if EMIs are not paid on time. Late payment charges are typically 2% of the outstanding amount.
• Collateral charges: The lender will charge collateral if the loan is secured by collateral. 1% of the loan amount is usually charged as collateral.

Personal Loan Balance Transfer in Jaipur

The balance not paid is transferred from one lender to another in a personal loan balance transfer. Saving on interest payments is possible when the interest rate is lower. You can transfer balances online and offline.

Online balance transfers for personal loans in Jaipur are performed as follows:

• Apply online at the new lender’s website.
• Documents must be uploaded.
• Documents will be verified, and the new lender will process the loan.
• Upon loan approval, the outstanding balance will be transferred to the new lender.

In Jaipur, you can transfer your personal loan balance offline by following the steps below:

• Fill out the application at the branch of the new lender.
• Documents must be submitted.
• Documents will be verified, and the new lender will process the loan.
• A new lender will receive the outstanding balance once approved.

Conclusion

We hope that you have gained a better understanding of personal loans and all they are about. It is said to follow the procedures in the manual above to get the financial goals you have set for yourself. Making the most of what is good for you and what you need can give you an extra edge over your requirements.

If you have issues with your loan, you may seek assistance from a prime financial company such as Piramal Finance.