HOW TO GET A TOUCHLESS PERSONAL LOAN ONLINE?
HOW TO SIMPLY APPLY FOR A PERSONAL LOAN IN 5 EASY STEPS?
Applying for a personal loan is not such a big task but a simple thing. A personal loan is preferred when in need of money because the tenure of repayment in a personal loan is flexible, and also, there is no requirement of any collateral or security.Following are the five easy steps as to how a person can get a personal loan: -
Determine your requirements- The first and foremost step is to determine your requirements. It means checking why you need a personal loan and how much money you require. It can be for the renovation of your home or a wedding or vacation too. The purpose of a personal loan is not restricted like other loans such as home loans, auto loans, etc.
Check your loan eligibility- Once you have determined the requirements, the next step is to check the loan eligibility. You can check the loan eligibility by visiting the personal loan eligibility calculator.
Calculate the monthly instalments- The third step is to calculate the monthly instalments, known as the equated monthly instalments (EMIs), which are to be paid by you every month, after the disbursal of the loan. The amount of the EMIs can be checked with the help of a Personal Loan EMI Calculator. You just need to fill in the basic details like the amount of loan, rate of interest, etc., and you will get the amount of EMIs that you need to pay every month.
Approach the bank- You can apply for a personal loan or can avail of a personal loan in a variety of ways. For example, you can visit/go to the nearest bank branch and then can apply for a personal loan, or you can also apply online by visiting the website of the bank.
Submit the documents- After that, you need to know about the important documents that are required for a personal loan. You must ensure that you have all the important documents like income proof, identity proof, address proof, etc. Also, carry copies of all these documents. After following all these steps, the amount of the loan will be disbursed in your bank account within minutes. Then, you have to repay the loan to the bank in the form of monthly instalments. If a person defaults on the EMIs, his credit score will be affected badly.
HOW TO GET A TOUCHLESS PERSONAL LOAN ONLINE?
This is the age of science and digitalisation, and everything is being done online with the help of the internet. Therefore, digitalisation has made it possible to apply for a personal loan online and to get a touchless personal loan with zero contact. During these times of coronavirus, nobody wants to visit the bank or come in contact with a lot of people as it is dangerous, and due to this pandemic of coronavirus, everything is 'touchless'. Any person who is eligible to apply for a normal personal loan online can apply for an online personal loan too. This means all the salaried employees, business people and self-employed individuals are eligible to apply for an online personal loan.
Also, the reach of an online personal loan is really wider as compared to normal personal loans. This is owing to the fact that there is no geographical restriction in the case of an online personal loan.These 'touchless personal loans' or online personal loans are available from all the leading banks in the country, all the Non-Banking Financial Institutions and the fintech platforms. If you are applying for an online personal loan, you should compare different personal loans and can also compare the rate of interest. After this, you should also calculate the amount of EMIs that you have to pay every month, which can be done with the help of an SBI Personal Loan Calculator, which is available online on the official website of the SBI bank.
