How To Avail An Instant Personal Loan in Agra? Few Points To Remember

How To Avail An Instant Personal Loan in Agra

The famous Taj Mahal is almost synonymous with Agra’s city, but there is much more to this metropolitan. This city is one of the major tourist hubs of this country, attracting millions of domestic and foreign visitors every year. 

Better employment opportunities and rising per-capita income complement the lifestyle choices of this city’s residents. This also creates a significant demand for short-term credits, such as instant personal loans in Agra, to manage large ticket purchases and unforeseen expenses. Affordable EMIs and flexible repayment tenure make it easy to use a personal loan to manage any expenditure.

How to get a personal loan in Agra?

Availing a credit like this is not a hassle anymore, especially with the emergence of online application facilities. One can now easily apply for credit and receive the amount within only a few working days.

Here is a step-by-step guide –

● Fill-up the loan application form online with financial and employment details.

● Select the loan amount and payment tenure.

● Once the initial verification is complete and the lender approves the application, borrowers need to submit them. 

● If everything is in order, they will receive the amount within 24-48 hours.

Eligibility criteria

To avail of a quick personal loan, one needs to fulfill the following eligibility criteria –

● Age: 23-55 years

● Credit score: 750 and above

Employment Type: Salaried employees of a private or public limited company or MNCs can apply for such a credit.

● Monthly income: As per the specific requirement of a lender.

Required documents

To complete the loan application process successfully, the following documents are mandatory.

● KYC documents

● Employee ID card

● Salary slip of last two months

● Bank account statement of the previous three months

Points to check before applying

Loan application has become significantly convenient with the online process; however, there are certain factors that one should remember while applying for the same. Here are four essential points that a borrower must consider before applying for a personal loan in Agra –

1. Credit score

A credit score, a three-digit number that summarises an applicant’s credit history, is vital for any loan application. If a borrower has a good credit score, ideally above 750, his/her chances of securing advances become higher than others. Hence, it is vital to check this score before applying. Borrowers with a low score can take necessary measures to improve their credit score.

2. Repayment capacity

Typically, personal loans are easy to avail of owing to their comparatively borrower-friendly terms. However, one must not get carried away with it and avail an amount that he/she cannot repay. Before applying for a loan, borrowers must realize their repayment capacity and then apply for an amount that they can successfully pay off.

In this regard, a personal loan EMI calculator can come in handy. They can check their monthly EMIs against a particular amount, and based on that, can make a decision.

3. The estimated cost of borrowings

Every credit comes with some associated charges, like processing fees, late payment fees, etc. These charges add up to the total cost of a loan, and if not assessed before making the application, it can increase the total cost.

4. Prepayment options

It is vital to check if a particular lender offers a prepayment option or not. Also, even if it is there, whether it has additional charges associated with it or not. In this way, one can repay their loan in advance if he/she wishes to.

Lenders like Bajaj Finserv offer prepayment facility that incurs zero charges. Borrowers can quickly repay their personal loans as per their convenience.

Additionally, the company also provides pre-approved offers, which aims to make the loan application process hassle-free. It is available on financial products like business loans, personal loans, etc. Applicants can check their pre-approved offers by submitting their essential contact details.

Availing a personal loan in Agra is not difficult anymore. With affordable EMIs and flexible tenure, one can now take a personal loan to deal with a liquidity crisis.

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How To Avail An Instant Personal Loan in Agra? Few Points To Remember

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