Indore, a popular town in India, is the largest city in Madhya Pradesh. It has salaried as well as self-employed individuals in its demography. Being an educational as well as a professional hub, the cost of living in Indore has increased over the years. If you live in Indore and have a requirement for some funds, you can always opt for a personal loan in Indore to meet your needs.
Read on to know how to get an instant personal loan in Indore.
Here are the steps involved in availing of an Indore loan through Navi –
The personal loan in Indore offered by Navi bears the following features and benefits –
The loan is unsecured in nature. This means that you don’t have to pledge any asset as collateral security or find someone to offer a guarantee on the loan. The loan is sanctioned easily depending on your income level and eligibility parameters.
There are some eligibility parameters that you need to meet to become eligible for the loan. However, there are no fixed eligibility parameters for Navi. Navi uses a technology-based model to assess your eligibility and approve a loan amount. You can, therefore, download the Navi app on Android or iOS and check your eligibility instantly.
To avail of a personal loan in Indore through another lender, here are some eligibility requirements that you should meet –
|Age||You should be aged at least 18 years and above to avail of the loan. Some lenders might have a higher minimum age criterion ranging between 21 and 25 years. The maximum age for loan application is, usually, 65 years|
|Occupation||You should be engaged in a steady job or have a steady business of your own|
|Income||You should have a minimum monthly income level as specified by the lender|
|Credit score||A credit score of 650 and above is needed to get the loan easily|
To get a loan through Navi, no documents are needed. You need to simply click your selfie and enter the numbers of your PAN card and Aadhaar card to get the loan.
However, other lenders might need you to submit a set of documents for loan applications. Such documents include the following –
Also Read: Advantages Of Personal Loans
Getting personal loans from Navi does not require you to be only in Indore. You can avail a loan from anywhere in India using the Navi app. The app can be downloaded on your Smartphone and the loan application process can be completed using it. You just need to upload your documents online without having to go anywhere and the application process would be completed.
Navi’s app is an on-the-go solution that allows you to apply for an instant cash loan from any part of the country. Getting a loan can never be this easy!
So, use Navi’s simple loan app and get a loan for your financial needs in Indore or anywhere else in India.
Ans: Navi does not need any collateral security to sanction the loan. So, you don’t have to pledge your jewellery to get a loan from Navi. The loan would be issued simply by applying for it if you meet the eligibility parameters.
Ans: Yes, the EMI can be changed if you change the loan amount and/or the repayment tenure. If you reduce the loan amount the EMI would reduce and vice-versa. Similarly, if you increase the repayment tenure the EMI would reduce and vice-versa. By changing the EMI, therefore, you can find the most affordable amount.
Ans: Yes, the interest on the outstanding amount of the loan is payable every month. This interest forms a part of the EMI.
Before you go…