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A quick guide to getting a personal loan

However, with limited knowledge of financial products, he is not sure of how to go about it. Tarun is not alone. Many people like Tarun find it difficult to comprehend financial products in terms of features, benefits, eligibility requirements, and needed documents. If you too are in the same spot, then this article is for you. Here is a step-by-step guide to obtaining an unsecured personal loan. But before we get going, let us first understand what an unsecured personal loan is.

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A quick guide to getting a personal loan

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  1. A quick guide to getting a personal loan

  2. What does an unsecured personal loan mean? • Funds are available without putting up any collateral.

  3. Benefits of collateral-free personal loans • You can use it for any lawful purpose. • To acquire this loan, you need to submit a few basic documents. • You get flexible repayment tenure.

  4. Personal loan qualifying criteria • Age limit- 21 to 58 years • Available to both self-employed and salaried individuals. • Minimum income- Rs 15,000 per month.

  5. Key documents required for loan processing • Application form • KYC documents, income proof, and occupation proof • Passport size photograph

  6. How to apply? You can apply either online through the website or by visiting the lender's branch.

  7. When should you opt for a personal loan? • Apply for consolidating high-interest debts. • To meet wedding or medical expenses. • Apply for paying your child's higher education fees.

  8. Things to check before applying for a personal loan • Review the qualifying criteria • Know your EMI beforehand. • Keep an eye on the loan-related fees and penalties. • Check the disbursement time.

  9. Now that you are aware of the entire personal loan application process, go to your selected lender's website and fill out an application form.

  10. Thank You Would Love to hear from you. Hero Fincorp Limited 09, Basant Lok, Vasant Vihar, New Delhi - 110057 Tel : 18001024145 Email : customer.care@herofincorp.com Website : https://www.herofincorp.com/ Know More : A Step-by-step Guide to Getting Unsecured Personal Loans

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