Managing your monthly budget is not the easiest of things to do. Fitting all your bills, your expenses, and even your leisure activities in your monthly salary or allowance is an achievement in itself. Often there is no scope for savings in such a case. And in such scenarios, a financial emergency pops up, and you are left looking for options to get some extra cash. If you are a student, a salaried professional, or even a business owner, you can avail of a personal loan if you need some additional funds immediately. If you live in Ahmedabad, then this article about personal loans is for you. In this article, we will be looking at small cash loans in Ahmedabad, private moneylenders in Ahmedabad, directions on applying for urgent cash loans, and all other necessary details about personal loans. By the end of this article, you will be all set to apply for a personal loan in Ahmedabad.
Table Of Contents
For a better understanding of personal loans in Ahmedabad, we will be discussing the following topics in detail:
- What is Loaney? – The Best private moneylender in Ahmedabad
- Personal loan in Ahmedabad – an overview
- The procedure for applying for a personal loan in Ahmedabad
- What are the types of personal loans available in Ahmedabad?
- Fees & charges
- How to apply for a personal loan in Ahmedabad
To clear any further doubts about personal loans that you might have, we will be answering a few commonly asked questions about the same.
What Is Loaney? – The Best Private Moneylender In Ahmedabad
Borrowing a loan is no longer a challenging task. There are various types of loans available, and there is a type of loan for almost everyone. No matter your needs, what background you belong to, and what purpose the loan is needed for, you can find a loan that suits your requirements. These days, you can borrow money from banks and established financial institutions and online money lending platforms, and private loan providers. If you are looking for online loan providers or private moneylenders in Ahmedabad, Loaney can be a good option for you.
Loaney is an online platform that makes borrowing personal loans easier for all. The eligibility criteria to borrow personal loans on Loaney is simple, and the documentation required is not much. Since personal loans are unsecured debt, you also do not need to submit collateral. The interest rates charged on personal loans by Loaney are low, and the repayment tenures are short. The repayment can be made easily using a pre-generated schedule from Loaney. You can apply for and get your loan approved on Loaney within a few clicks from the comfort of your home without having to wait much.
Personal Loan In Ahmedabad – An Overview
Ahmedabad is one of the most important economic and industrial hubs in India. The city is suitable for growing your business and for financial activities. The city is also a destination for culture and heritage. Ahmedabad is known as the Manchester of India. If you are a resident of Ahmedabad and require some extra cash for your business needs or any personal activity, you can apply for a personal loan. You can easily avail of a small cash loan in Ahmedabad by applying online or borrowing from your trusted bank.
In the upcoming sections of this article, we will be looking at the necessary details and information for borrowing a personal loan in Ahmedabad.
The Procedure For Applying For A Personal Loan In Ahmedabad
Applying for loans has become more accessible in recent years, with online platforms coming up and net banking gaining more popularity. While anyone and everyone can apply for a personal loan in India, it is also crucial for the banks, moneylenders, and loan providers to know that the borrower can pay the amount back. For this reason, a specific procedure needs to be followed where the applicant’s eligibility is checked and whether or not they can apply for a loan.
The following are the eligibility criteria for a personal loan in Ahmedabad:
- The person applying for the loan must be 18 years old or above.
- The applicant must be an Indian citizen who has a PAN card.
- The applicant must have an Aadhar card that is linked to their mobile number.
- The bank account of the applicant must have a net banking facility.
- The minimum monthly income of the applicant must be between Rs. 25,000 to Rs. 30,000.
- The source of the applicant’s income must be approved and certified by a verified organization.
- The applicant must maintain a high CIBIL score and a good credit report. They must have a CIBIL score of 750 or above.
- The applicant must not be a CIBIL defaulter.
Once you are qualified to apply for a loan, the next thing you must know are the documents that you will need. Missing documents could lead to your loan application being rejected.
The following are the documents that you will need to apply for an urgent cash loan in Ahmedabad:
- Identity Proof Document- This can be your Aadhar card, PAN card, Voter ID, or even driving license.
- Address Proof Document- For this, you can present your Utility bills, Passport, or even Aadhar card and PAN card to the loan provider.
- Proof of income
- Your bank statement for the past 3 to 6 months.
To apply for a small cash loan in Ahmedabad, on Loaney, you will need only the following documents:
- PAN card
- Aadhar Card linked to the mobile number of the applicant
- Picture of the applicant
- Bank account of the applicant with an internet banking facility.
These are general eligibility criteria and documents required for applying for a loan. It might differ from one loan provider to another. If you are looking forward to borrowing a loan, you must first research your options and look for loan options that suit your needs. Then you must check the eligibility criteria and the documents required for the same. Only after being sure that you qualify for the loan you must apply you for the same and await the approval of the loan.
What Are The Types of Personal Loans Available In Ahmedabad?
Personal loans are prevalent among people these days because of their versatility. The loan provider does not demand to know the reason for borrowing the amount, and you can easily use the funds for any purpose as per your requirement. You can get a medical loan, student loan, travel loan, and many other types of personal loans. You can use the amount you borrow as a personal loan for the following:
- Paying off your credit card bills.
- Repaying any pending debts.
- Paying off hospital bills.
- Paying the fees for higher education in India or abroad.
- Funding your dream holiday.
- Investing in your business, buying new machinery for your industry.
- Building a new house or renovating the existing one.
- Buying a new vehicle.
Fees & Charges
Interest rates are one of the most common terms that are related to a loan. Every loan that you borrow has to be repaid along with the interest that is charged on it. Through the interest amount charged by the moneylender, loan provider, or bank, they make money. But you must choose a loan that charges an interest rate that you can easily payback.
Along with the interest rate, some online platforms also have an additional processing fee, platform charges, and convenience fee charged on borrowing a loan.
A few private money lenders in Ahmedabad might also charge additional fees depending on their policies. It is also true for banks and financial institutions. The fees and charges depend on the internal policies of the loan provider.
How To Apply For A Personal Loan In Ahmedabad?
We have now looked at most of the necessary points related to personal loans. Before we conclude, let us take a quick look at the application procedure for a personal loan in Ahmedabad. The following steps can help you get your personal loan approved on Loaney:
- Visit Loaney’s website.
- Register yourself on Loaney and complete the application form.
- Fill the form with your basic personal details and upload the documents as required.
- Submit the duly filled application form.
- The application submitted will be reviewed and verified.
- The application is approved after the reviewing process, and the funds are transferred to your bank account.
Once this procedure is over, you can withdraw the funds and use them as per your requirements. The repayment process on Loaney is also easy with their pre-generated plans.
1. How to get a personal loan without documents in Ahmedabad?
You can get a personal loan in Ahmedabad on Loaney without much paperwork and documentation.
2. What is the lowest interest rate on a personal loan in Ahmedabad?
The lowest interest rate on personal loans in Ahmedabad is 10.25%
3. How long does it take to get a personal loan in Ahmedabad?
If you are applying for a personal loan on Loaney, you can get the personal loan approved within a few minutes. Within 1 hour, you can have the funds transferred to your bank account.