Personal Loan

Personal Loan is the obvious choice if your need a loan for personal expense. Purpose can be medical emergency, wedding purpose, personal requirement, travelling abroad or anything. Personal loan is the best choice if you are having urgent requirement of money.

Eligibility of personal loan:

1: Age must be above 21 years.
2: In metro cities minimum salary required is Rs 20000.
3: In other cities minimum salary required is Rs 18500.
4: Regular salary should be credited in account with valid income proof.
5: Cash salary, salary through cheque, account transfer is not considered by bank.
6: Cibil score should be above 650.
7: Minimum 6 months stability in current company for salaried borrowers.
8: 2 years ITR for self-employed / and professionals.

Sample Loan Calculation

Loan Amount	Interest Rates	Loan Term	Monthly EMI
₹10,00,000	10.99%	60 Months	₹ 21,740/-

*The associated fees shown are for representation purposes only. Actual associated fees will differ depending on individual profile. Processing Fee ranges from 0% to 2%. We do not charge any fees to our customers.

Personal Loan Interest Rates:

Rate of interest plays an important part so always go with the lowest one which is beneficial. For most of the banks personal loan interest rates starts from rate of 10.50% to 22.00%. Some of the banks offers special interest to its customers according to their net income per month, company for which they are working for (customers working in CAT A companies like Accenture, TCS, Infosys will get lower rate), residential status (NRI’s are usually charged higher rate of Interest) and their profile i.e. checking their eligibility and CIBIL / credit score. For CAT A company banks offers them lowest interest rates.

Calculation of Personal Loan:

Calculation of EMI for personal loan is the essential tool which helps the borrowers by which they can calculate that how much EMI they have to pay for the loan amount which they are planning to borrow from the bank.
In just three steps borrowers can calculate their EMI for the personal loan:
1: Go to the calculator page. i.e. Personal Loan Emi Calculator
2: Enter the required loan amount.
3: Enter the interest rates which bank offers.
4: Enter the loan tenure.
On basis of entered details calculators shows you the result of the EMI amount which you are going to pay for personal loan.

Documentation:

DOCUMENTS FOR SALARIED EMPLOYEES:
As compared to home loan the process of documentation of personal loan is very quick.
1: Identity proof [ Aadhar card, pan card, voter id etc].
2: 3 months current company salary slip.
4: Recent 6 months bank statement.
5: Address proof [ Aadhar card , rental agreement, electricity bill etc].
Documents for Self-Employed
1: Balance sheet.
2: Profit and loss account statement.
3: Partnership deed / MOA / AOA/ other company related documents.
4: 3 years ITR [Income Tax Returns]
5: GST certificate (if applicable).
and other mandatory documents which banks may ask for .
Document list for Business Loan (i.e. loan for self-employed) is usally higher than Personal Loan (loan for salaried).
On the basis of business stability almost all banks offers personal loan to self-employed and bank also check last 3 years ITR[ INCOME TAX RETURNS].
Maximum loan amount avail for self-employed is 30 lakhs (which can be increased for specific profile of borrowers)
Maximum tenure is upto 5 years.

We at AllMyFinance have tied up with multiple lending partners. With this, we are able to customize offering for each of our valued customer which would help you get a loan with lowest interest rates and processing fee along with maximum loan eligibility. There are other variables also like pre closure charges, pre payment charges and insurance premium which can impact a lot but not a lot of consumers are aware off. We all AllMyFinance would work behind the scenes with the bankers and make them compete to give you a loan which ensures you get waivers for some of these charges.

You can get Personal Loan for

Pay off your credit Card Debt
For home renovation / repairs.
Pay for a Wedding.
Medical Emergency.
Take your dream vacation.
To start a business
Buy your dream Electronic / Gadget.
Any other personal expense.

Sample Loan Calculation

Loan Amount	Interest Rates	Loan Term	Monthly EMI
₹10,00,000	10.99%	60 Months	₹ 21,740/-

*The associated fees shown are for representation purposes only. Actual associated fees will differ depending on individual profile. Processing Fee ranges from 0% to 2%.

Why

All My Finance?

Get Multiple Offers from multiple banks which would mean you could choose the Bank that gives you:
Lowest Interest Rates.
Lowest Processing Fees.
Door step Service.
Quick Loan Disbursement.
All this means that you get the best deals sitting at your home!
So just apply and we would do all the running around for you.