PERSONAL LOAN
About Loan
A personal loan is a special type of loan taken to fulfill one’s personal needs. It is an unsecured
loan that can help to achieve many personal objectives, such as:
a) Planning family vacation
b) Meeting an unexpected medical expense
c) Financing home renovation
d) Providing for your child’s professional education
e) Debt consolidation
f) Meeting wedding expenses
g) Buying an electronic gadget
h) Others
Features of a Personal Loan
1. Since it is unsecured, so it is processed faster than other types of loans, within 1 to 3
working days, if the documentation is proper.
2. Since there is no security or asset as collateral, so there is no risk on the personal assets of
the person taking this loan.
3. There are flexible payment alternatives and many lending options available to the one who
needs this loan.
4. The risk factor is also lesser than the other loans.
5. For availing these features, they charge interest at a little higher rate than other loans due
to their unsecured nature.
What do we offer
At Kartik Credit, we believe in providing personal loans at attractive interest rates to needy
people. You can make repayment of this amount at your desired pace, as per the negotiations
with our lending partners. Our team of experts can help you compare various types of loans
and select the one which is most suitable for you. We promise to keep the paperwork to the
minimum and ensure faster disbursal of the loan amount. So, connect with us now and get the
loan just when you need it to achieve your immediate goals.
Documents Required
Latest photograph
Last 2 months’ Salary Slip
Bank statement of Salary Accounts - Last three months updated.
Form 16 / Appointment letter
Identity Proof
Address Proof
Eligibility Criteria
Credit Score: Those who have a valid Credit score are eligible for this loan
Minimum Income: The minimum income required to be earned is Rs. 15000 per month.
Existing Loan (if any): Eligibility is also checked with respect to the existing loan amount and the
EMIs being given against it.
F.A.Q.
1. Where can I get a Personal Loan from?
A. You can easily get a personal loan from any scheduled, commercial bank permitted by RBI to provide
loans.
2. Who can apply for a Personal Loan?
A. Anyone with a stable source of income can apply for this loan.
3. What if EMIs are not paid on time?
A. Even though it is always recommended to pay EMI on time, delay or default in payment of EMI will
adversely affect your credit score and make it difficult for you to get a loan in the future. Banks share the
credit history of a borrower with the Credit Bureau, which in turn shares it with other banks.
4. What is the maximum Tenor of a Personal Loan?
A. The tenor of a personal loan varies from 12 to 60 months. However, most banks provide this loan for
a maximum period of 36 months.
5. What if I want to prepay my loan?
A. Most banks allow their borrowers to prepay their loan within 6 months of allotment. However, they
take prepayment charges at a rate of outstanding principal for early repayment of loan.
