About Personal Loan:
A personal loan refers to funds that are borrowed from a financial institution for multipurpose uses. In opposition to long-term loans, personal loans are taken for relatively short to medium terms. Generally, personal loans are used to pay for one-time or short term expenses where the borrower doesn’t need to disclose the specific reason for taking this loan. This type of loan is used by many to resolve their current financial needs. A personal loan is taken for a tenure that lasts between 1 to 5 years. Also these require the least number of formalities and no kind of collateral or security.
It is a type of unsecured loan which can be availed on the basis of various criteria. Level of income, employment history, credit score and scope for repayment are those specific criteria. Considering these criteria and lender, the APR (Annual Percentage Rate) of personal loan can be anywhere between 11.29% to 35%.
Why Should You Take A Personal Loan from Tata Capital?
In every individual’s life there comes a moment where you urgently need a specific amount of money which can’t be covered by your savings. The amount can be needed for any personal reason like home or vehicle repair, to pay unexpected medical bills, for wedding, travel, credit card outstanding balance transfer etc. Here the option of getting this desired amount via personal loan comes extremely handy. Tata Capital offers you the best personal loan with an easy EMI option, fixed interest rate and quick loan approval. They offer instant personal loans for your personal needs. Flexible tenure, no collateral and simple documentation makes it one of the most popular personal loans in India.
What are the Eligibility Criteria to avail a Personal Loan from Tata Capital?
Tata Capital offers personal loans to customers who fulfill their designed eligibility. The eligibility criteria changes as per the profile of the borrower. But there are some commonalities which you have to follow or acquire to get a Tata Capital personal loan. Tata Capital gives personal loans by dividing their customer’s profession and their income history. You can refer the following table for a gross understanding of Tata Capital’s eligibility criteria:
