What is the Fastest and Easiest Way to Get a Personal Loan?

Dreaming about larger-than-life plans might be easy. What’s not so easy is financing them. Be it your dream wedding or giving the best possible education to your child, it is important to know how to pay for such large expenses.

While personal loans seem like a good option, you should be aware of the application process and terms of repayment. 

We, at Piramal Finance, give not just one but several ways for customers to apply for a digital personal loan. We understand that different customers have different needs that need to be taken care of. 

What is a personal loan?

A personal loan gives you the funds needed to meet any personal monetary obligations. It is an easy way to fulfill existing money demands, such as repaying existing debt or covering expanding money needs, such as buying your dream car, paying for your child’s education, vacationing, or planning your destination wedding.

To save you time, effort, and patience, Piramal Finance makes it easy to apply for a digital personal loan in a variety of ways, allowing you to select the option that best meets your needs.

Features of a personal loan include:

• There are no foreclosure penalties.
• Loans range from Rs. 1 lakh to Rs. 10 lakh.
• Less paperwork is needed
• Quick approval and quick disbursement
• Monthly EMIs that are as per your choice
• Flexible payback terms ranging from 12 to 60 months
• Income pooling for more loan eligibility

How to Get a Personal Loan From Piramal Finance?

Here are the steps you need to know to apply for Piramal Finance’s digital personal loan:

• How much money do you need?Before applying for a personal loan, check how much money you need to borrow.  
• Are you eligible for such a loan?Check the eligibility criteria for the loan, since it can be different for each bank. We at Piramal Finance have easy loan criteria and aim to give finance to all who is in need.  
• How do you want to repay EMI/ Lump Sum?Check the repayment options of the loan you are borrowing and if they suit you. 
• Approach the bank or instituteAfter a thorough analysis of your desired bank or institute, approach them through their website or visit their nearest office.  
• Submit the needed documentsOnce you contact your desired bank or institute, you will need to fill out the application form. The bank or institute may also ask you to submit a few documents. Once this is done, your loan amount will be given to you in 3-5 working days.

Documents Required While Applying for a Personal Loan

The most time taking step of a digital personal loan application is documentation. Once your documents are in place, you are almost there. Thus, you should know what documents are needed to speed up the loan process. 

The documents needed for a digital personal loan are:

• PAN Card 
• ID Proof: Aadhar Card, Passport, License, Voter ID
• Address Proof: Passport, Aadhar Card, Driving License, Voter ID, Utility Bills
• Proof of Income: Pay slips and bank statements
• Photos of the applicant and co-applicant in passport size (if any).

Before you apply for a personal loan, ensure that your documents are valid. Only original copies of the documents will be accepted by the banks. You should avoid carrying only photocopies of your documents.

Fastest and Easiest Way to Apply for a Personal Loan

There are several ways by which you can apply for a personal loan that are fast and easy.

We, at Piramal Finance, understand that everyone has different needs. We aim to fulfill all their loan needs and are thus, working towards giving multiple options to apply for a digital personal loan.

 Below are the many ways in which you can apply for a loan through Piramal Finance:

• Piramal Website: You can visit Piramal Finance’s official website, which has a user-friendly interface that makes it easy to navigate and apply for a digital personal loan.
• Piramal Mobile App: You can quickly download and use the Piramal Mobile App, which is accessible on both iOS and Android smartphones.
• Request a call from an executive: If you are not aware of, or don’t want to apply online, you can simply request a call from Piramal Finance or dial their toll-free number. An executive will be in touch with you soon.
• Physical Application: You can submit your application in person at any Piramal Finance branch.

The Bottom Line

Personal loans have seen a huge rise in popularity lately. It is due to the easy grant terms, less trouble, quick access to money, and simple loan repayment that people prefer personal loans for their urgent money needs. But to get a personal loan in the fastest way, it is better to have a good credit score, a regular income, or a good credit history.

India is a diverse country, where people have diverse needs. If you are not well-versed in technology, it doesn’t mean you will have to give up on what you need. At Piramal Finance, we aim to give loans to everyone in need in the best possible manner, acting as “a friend in need to a friend who needs.“.

If you have a busy schedule, you could save time by selecting the online options to apply for a digital personal loan. Or, you could just visit the nearest Piramal Finance branch, meet with an executive, and discuss the best options for you. We, at Piramal Finance, have it all for you. If you want to read more such articles, visit Piramal Finance right now.