Personal Loans at Easy Terms And Fast Speed: Instant Loans Online
Personal Loan - iServeU

Personal Loans at Easy Terms And Fast Speed: Instant Loans Online

In simple terms, a Personal loan is an unsecured loan given to an individual where they don’t have to show any collateral/security for the approval of the loan. It can be a short to medium-term loan. The key features of this loan are it generally disbursed in a few hours to a few days. It doesn’t require any paperwork as well. It has a flexible end-use. The fast loan approval makes it desirable and you can use it for emergency expenses, to starting your own business, and as per your needs. The tenure of this loan lies between 12 months to 60 months. Generally, higher interest rates are charged on the amount borrowed by the borrower.

Am I eligible for a Personal Loan?

Many people have this query about whether they can apply for the loan or not. So, certain criteria need to be fulfilled for fast loan approval.

  • Age: 21- 60 years
  • Income: Rs 15000 per month
  • Employment stability: Minimum 2 years

Can I get Personal loans online with instant approval?

 Yes, you can get personal loans online with instant approval. All you need to do is choose a suitable lender that matches your criteria. The document you need for personal loans online with instant approval is the same for all banks. The list of documents are:

  • Your Identity proofs
  • Your Address proofs
  • Your Bank statement of at least three months
  • Your Salary slips

With these minimum documents, you can avail of pre-approved loans instantly and get flexibility in amount and tenure. Many banks do fast loan approvals and within 3 seconds, you can avail of the personal loans.

What is a Microfinance Personal loan?

 Unlike personal loans, microfinance personal loans are taken by small companies and individual businesses. Microfinance personal loan helps individuals to start a company and run it smoothly by getting capital in time. Those who are financially underserved can avail of this loan to start a new business, otherwise, these individuals have to pay high-interest rates or borrow money from friends or family members.

How we can avail of instant small cash loans?

 An instant small cash loan can be easily availed from friends or family members but in case you want to avail small cash loans, many banks are offering Rs. 50,000 to Rs. 1,50,000 cash loan almost instantly with a better payback option. For fast approval of the personal loans, the least documentation is required. Finances for travel, wedding, education, or any other reasons are covered under instant fast approval personal loans.

 What are Personal Microloans?

 Personal Microloans are short-term loans where you can avail yourself of smaller loan amounts. These loans are for startups, self-employed, small businesses, and people with fewer capital requirements. Those who have no access to financial or lending institutions can easily apply for this loan.

Government of India, RBI has started this to provide funding to the unbanked & underbanked people. NGOs and MFI provide personal microloans.

How can I pay Personal Loan EMI?

 To maintain a clean credit history, one needs to pay EMI on time, failing to pay EMI on time can cost you extra charges.

Following are some ways to pay personal loan EMI:

  • Automatic payment of EMI – with internet banking, you can set-up autopay for EMI payment
  • Standing Instructions – You can use NACH (National Automated Clearing House) mandate
  • Transfer Online– Pay your EMI online using different online payment methods like RTGS, NEFT, IMPS payments
  • Cheque/Draft – You can use Post-dated cheques (PDC) or drafts for EMI payments

Fees Related to Personal Loan

 Some additional charges are needed.

  • Loan processing fees: It generally lies between 1%- 2% on loan sanctioned.
  • Repayment/foreclosure charges: When a person wants to close the loan before its tenure then he/she has to pay nil to 5% charges on the principal amount prepaid.
  • Late EMI payments: This is a certain charge that the borrower will require to return simultaneously with the expected amount.
  • Cheque Bounce rate: In case the cheque is bounced then the borrower needs to pay around Rs 500.

Do you need instant cash to fulfill your dreams like starting your own company? Come to iServeU Online Portal. You can avail of an instant Microloan. For fast loan approval, you need to call iServeU and fulfill your capital needs in a few seconds. Our Business correspond agents can help you to approve your loan even you are not eligible to take loans from banks. For more info, visit us at iserveu.in/ and know about our services in detail.