Personal Loan

Applying for personal loan online, keep these things in mind

Personal loan online

The cheapest personal loan is available in Punjab National Bank. The personal loan interest rates here range from 8.95 to 14.50 percent per annum. The interest rate on personal loans in HDFC Bank is running from 10.50 percent to 21 percent per annum. A personal loan is being offered in ICICI Bank at an interest rate ranging from 10.50 percent to 19 percent per annum.

Take Personal Loan Online

Nowadays taking a personal loan has become the easiest option to meet the need for money. Do you also want to know whether you can get a personal loan online or not? The best way for this is that if you are eligible to get an offline personal loan then you can also get an online personal loan. All the salaried people and professionals etc. can easily get a personal loan online.

Which bank will get a personal loan?

If you also want to take a personal loan, then you can take a personal loan from all the major banks, non-banking finance companies (NBFCs), and fintech platforms in the country. You should keep in mind that it is not necessary that you will get a personal loan from the bank where your salary comes from or where you have a savings bank account. Any customer can take a personal loan from any bank.

Interest on Online Personal Loan

The interest rates on online personal loans are not high. It is also not that the processing fee is high in these. In fact, an online personal loan can be cheaper than an offline personal loan. Online personal loans have low working expenses, which can be beneficial to the borrower. The interest rates on online personal loans depend on the income of the borrower, their employer, and the loan amount.

Digital KYC required

To avail of an online personal loan, it is important that your KYC document is updated. KYC i.e. Know Your Customer or Know Your Customer is actually a formality in which the lending institution takes your complete information. This may include your Aadhaar number, PAN card, your address proof, and information related to your employer. Taking an online personal loan can be very easy if you have already done KYC online.

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