There are many times that we face a sudden huge expense and without the proper capital, it can be quite troublesome. Do not worry as there are many banks that let you “Apply For Personal Loan Online“. Personal loans are brilliant as you do not have to keep anything as collateral, that is, you are not pledging anything as security. As a result, you would have to have a good credit history to be eligible for applying for such a loan. You can use the money taken out for any reason as you deem worthy. You can use it to go out for a vacation, for your marriage, sudden medical emergency or even for home renovation. Personal loans are very flexible and the best part is nowadays you do not have to wait in long lines to get your loan application processed; just log on to the website of your preferred bank and follow the necessary steps to apply for the loan online. Apply for a personal loan in tricity today without any hassle!

What to do before you apply for the loan?

Before you “Apply For Personal Loan“ there are few things to reconsider. Carefully assess why you need the loan and how you will manage to pay it back. For this, you must be aware of your credit history. A through research should also be done by you so that you can get the best interest rate.

Eligibility criteria to full fill

After you have compared the different banks and picked the ones that you like. It is best to go through the eligibility criteria prescribed by them. The following eligibility criteria are common to most banks. The bank of your choice may have its own policies so it is better that you go through all the literature given in the terms and conditions so that you can make the best choice for yourself. The eligibility criteria for a self-employed person very from a salaried person so be sure to check out what you need.

The following are criteria which must be fully by a salaried person:

● The age of the person should be between 24 years to 60 years.
● The net monthly income of the person must not be less than 20000 rupees.
● The credit score of the person must be above 750.
● The minimum loan amount that the salaried person must take out is 100000 rupees while the maximum limit is 20 lacs.

The following are criteria which must be fulfilled by self-employed person:

● The age of the person should be between 24 years to 55 years.
● The net monthly income of the person must not be less than 25000 rupees.
● The credit score of the person must be above 750.
● The minimum loan amount that the salaried person must take out is 100000 rupees while the maximum limit is 30 lacs

Say goodbye to the long lines that you had to wait in for long hours to get your loans approved. Go through all the necessary information online. Apply for the loan from anywhere and be at ease as you get the best services from your preferred bank from the comforts of your house.