Introduction
If you’re looking for a personal loan, you’ve come to the right place! We have been helping people to get money for decades. We advise people to avail of unsecured personal loans for anything from home improvement projects to vacations. Personal loans are available in a wide range of competitive interest rates. So if you’re ready to take advantage of this great opportunity, keep reading!
A personal loan was only available to people with guarantees and collateral in the past.
Personal loans were only available to people with guarantees and collateral in the past. If you did not have any of these things, it would take weeks to get loan approval. Banks ask for multiple branch visits and documents from your employer or property owner before approving a loan request.
Today, technology has made everything easier! We can avail of a personal loan without any collateral or guarantee! All we need is a smartphone, some basic information (namely age and income), and that’s it!
A personal loan can be accessed almost anywhere, with different terms and conditions.
Personal loans can be availed online, in person or via phone. Fill out a simple form online to apply for a personal loan.
The internet has made getting a credit facility more accessible than ever before. Gone are the long queues at financial institutions to get your hands on some cash! You need an internet connection, an active email account, and basic information about yourself, such as name and contact details (email address will do). The next step is filling out a simple application form that takes less than 5 minutes to complete!
Once the application form is submitted, a team of experts at the loan enablers like LoansJagat will check your details thoroughly before sending them across to partner lenders who may be interested in providing financing.
Applicants then receive offers from these lenders. Loan providers like LoansJagat help compare them so that applicants can make informed decisions about which one suits their needs best!
A credit score of 650 or more for an unsecured personal loan
Your credit score is a three-digit number ranging from 300 to 850. The score is the average of your credit reports and reflects how you’ve handled debt in the past.
You’ll need a 650 or higher credit score to qualify for an unsecured personal loan, but different lenders may require other scores. Some will even provide loans with lower credit scores but may come with higher interest rates.
If you’re unaware of your current credit score (or want to check if it has improved), LoansJagat offers free access to their Credit Report Card product to see how you’re doing overall and learn what steps might help improve it over time.
You’ll need a constant source of income.
A certain amount of credibility comes with having a stable source of income. Lenders look for continuous and consistent employment when considering lending you money, so you should ensure that a reputed company employs you before applying for a personal loan. If you are on contract work or have an unreliable source of income, such as freelancing, your chances of getting approval are likely lower.
Salaried professionals at established companies generally get better rates than those who work independently or do contract work.
It’s essential to provide enough proof of your current job’s reliability.
The money you receive from an unsecured personal loan is paid back over time.
You pay back over time when you get a personal loan, making it different from an automobile or home loan, which requires a lump sum payment at the beginning or end of the term.
The repayment period can be six months to 5 years, depending on your lender and how much money was borrowed. The interest rate you agree upon with your lender also determines how much you’ll pay back over time.
Personal loans in the form of Debt Consolidation loans can combine all small loans.
Debt consolidation loans combine all your small personal loans into one personal loan with a longer repayment term to reduce the lenders you have to deal with and make it easier to manage your monthly payments. Consolidating all your debts will also save you money on interest by moving them over to a lower-rate loan.
Consolidating multiple debt instruments helps improve one’s credit history by reducing the debt burden, leading to better credit score ratings.
Besides, owing more than one loan makes it difficult for people who plan their finances ahead of time as they have no idea about the payment amounts due each month. More than one loan makes planning difficult for such individuals when they have multiple loans at once, which results in unexpected costs like medical bills affecting their financial status adversely.
LoansJagat offers the best Personal Loan interest rates.
The best Personal Loan interest rates in the market are available at LoansJagat, with interest rates starting from 10% p.a.
These loans help people who have an active credit score and have been living in India for more than two years. Do you meet these criteria? Apply for a personal loan from LoansJagat now!
LoansJagat offers flexible repayment options that allow you to pay off your loan early or make partial payments on top of monthly instalments, so there is no need to worry about having problems paying back your loan on time!
Conclusion
There are several ways to borrow money, but none compares to the convenience of getting an unsecured personal loan from LendingJagat. With their online application, you can apply for a loan in just minutes and get it approved within 24 hours! They offer flexible repayment options so that you’ll never have any trouble paying back your debts—and they don’t charge any hidden fees either.
