Apply Instant Personal Loan Online

To avail a personal loan, the documents you need to provide are:

• Aadhar card/ Voter Id Card (To verify your name, address proof and nationality)
• Bank Account Details (To transfer the funds)
• Proof of Your Earnings (To prove that you have a certain earning and capable of repaying the loan.)

If you want a top up on your existing personal loans, and have been paying your EMI regularly, then we are always ready to help you with a top up, even though you have an existing one.

As the name suggests itself, a personal loan is something you can avail to meet any of your personal needs. Some of the key features of personal loan are:

• Fast Transfer of Funds
• Minimum Documentation Required
• Flexible Loan Amount and EMI
• Flexible Usage

You can repay your personal loan at your convenience. The only thing you have to do is to select the method you want to choose, to repay your loan. Some of the methods available to repay your EMI as of now are: Automatic Payment – You can set up auto-pay through Internet banking, and the amount will be debited from your account on the mentioned day. Manual Online Transfer – You can transfer your funds online by yourself to repay your EMI as well. Cheques – You can also use post-dated cheques or drafts to repay your EMI if that’s convenient for you. Standing Instructions – You can instruct your bank to make the payment for your EMI on your behalf on a particular date. Please note that repayment options vary from organization to organization. Hence, it's best to verify the repayment options while availing of your personal loan.

You can easily know your EMI amount from the Personal Loan EMI Calculator designed by us. Just enter your loan amount, preferred tenure of the loan, and the interest rate, and the calculator will display your EMI rate.

To be eligible for a personal loan you have to meet 3 major criteria. Once you meet them, availing a personal loan is no big deal. The 3 criteria that you must meet to be eligible for a personal loan are:
You have to Above 21 Years of Age while applying for the Loan.
You must have a minimum of income of Rs. 15000/month.
To prove your employment stability you must have worked at least for 2 years in your current profession, be it business or service (including at least 1 year of service in the current organization, if employed.)

Once your personal loan is approved and you have signed the loan application, you can choose 2 options to get your funds transferred.
Online Transfer – The amount will be directly sent to your bank account
Payee Cheque – We will send an account payee cheque to your address by post which you can en cash later.
Please note that sending the cheque by post is completely safe and we ensure that they reach to you safely.

This is a special category of personal loan, which a bank offers only when you have an account on that bank for a particular amount of time. The bank decided the loan amount (non-negotiable), which they can pay to you, and the process requires minimum to no documentation as well, since the bank has all your information already. The availing time of a pre-approved personal loan can be as fast as 10 seconds only.

A personal loan is a collateral-free loan that can be used for multiple purposes. It becomes more convenient and effective when you apply instant personal loan online to save time and energy. You can literally manage any of your personal expenses, whether it’s major or minor. MyFinPartner allows you to get instant personal loans at a competitive rate of interest for a flexible tenure and on easy terms and conditions.

Lenders won’t ask for a particular reason and don’t restrict the usage of the personal loan quantum. So you can easily use a personal loan for the reasons like,

• Traveling
• Higher Education
• Wedding
• Funding a business
• Medical expenses
• Home renovations
• Purchase costly items
• Debt consolidation.

Whatever your reasons are, your lender will only bother about the timely repayment of the loan.

To apply instant personal loan online, you need to submit the following documents on the portal

• PAN Card
• Aadhaar Card
• Salary slips of last 3 months for salaried persons.
• Latest ITR for self-employed individuals.
• Latest bank statements.
• Passport size photographs.
• Other documents that the respective lender may ask for.

Whatever your reasons are, your lender will only bother about the timely repayment of the loan.

The eligibility criteria of MyFinPartner are very easy to meet to apply instant personal loan on the platform.

• Make sure that you’re an Indian citizen.
• You should be either a salaried person or a self-employed person.
• Your age should be between 21 years and 58 years.

To apply instant personal loan through MyFinPartner, the minimum income requirement will differ based on your profession.

• If you’re a salaried person, your minimum monthly salary should be Rs. 12,000.
• If you’re a self-employed person, your minimum monthly income should be Rs. 25,000.

Yes, you can calculate EMIs on MyFinPartner’s platform as the EMI calculator can do it within seconds. All you have to is enter the loan amount, tenure, and expected rate of interest on the calculator. Click on the ‘calculate’ option and you will able to see the estimated EMI on the screen.

A credit score that is 750 and above is considered an excellent score to bag a personal loan in. But on MyFinPartner, it is comparatively convenient as here you can find multiple lenders with various credit score requirements. And some of them will also lend money to the applicants who have zero or poor credit score. It certainly creates an impact on the ROI offered to the applicant by the lender, but those lenders make it easy to get a personal loan even with a low credit score.

MyFinPartner offers loan amounts depending on the profession and the net income of the applicant. However, a salaried person can get a personal loan of up to Rs. 40 lakh, where a self-employed person can get up to Rs. 1 crore as a personal loan amount. So, if you apply instant personal loan through MyFinPartner, then you can get quite a high loan amount.

Well, not a single reason will be enough to answer your question as the personal loans on MyFinPartner offer multiple beneficial features.

• Multiple lenders to compare and choose from.
• High loan quantum to meet your expenses.
• Competitive rates of interest.
• Flexible repayment tenure.
• Easy eligibility criteria.
• EMI calculator to calculate the EMIs.
• Collateral-free loans
• Hassle-free online application process.
• Instant approval.
• Quick disbursal.
• Lenders offer top-up loans, balance transfer facility, foreclosure facility, etc.
• Minimal documentation and doorstep service.

When you apply instant personal loan online, you have to make sure that the eligibility criteria are clear to you. Because to assure instant approval from your end, you need to meet the eligibility criteria thoroughly. Upload the relevant documents online that can prove your eligibility well. Then the initial approval process will take a few minutes. And if everything seems perfect to the lender, you will be notified of the instant approval.

When you apply instant personal loan through MyFinPartner, you will have two different options for the disbursal after your loan application gets approved and you’ve signed the documents,

• Online transfer- Your loan amount will be credited directly into your bank account.
• Payee cheque- MyFinPartner will send a payee cheque to your address via post. It is completely safe and secure.

To apply instant personal loan online, one thing that you can come across now and then is the pre-approved personal loans. Banks offer pre-approved personal loan to their existing customers. These loans have comparatively simple criteria like low-interest rates, good loan quantum, quicker loan process, etc. Banks have credit information of their existing customers so it becomes easy to process the loan in the least time.

There are four different ways to repay your personal loan when you apply instant personal loan online.

• You can give standing instructions to your bank to pay the loan EMI on the due dates. It reduces the risk of missing any EMI payment.
• You can use a net banking facility to automatically pay the EMI online.
• A manual online transfer facility allows you to transfer the fund online yourself.
• You can issue post-dated cheques to repay the personal loan amount.

When you apply instant personal loan through MyFinPartner, you get the freedom to choose from multiple top-rated lenders after comparing them. Different lenders have different rates of interest along with different loan criteria. As per your eligibility and requirement, MyFinPartner will present you with the most suitable lenders for you when you apply instant personal loan online. Then you can check them thoroughly and get a clear perception of the lowest rates of interest available in the market. So you can surely get a low-interest personal loan.

Yes, there are enough possibilities of rejection if you make certain mistakes when you apply instant personal loan online.

• Your income should be ideal to repay the loan amount you’ve asked for.
• If you’ve asked for a reasonable amount, then your application can get rejected.
• Too many existing loans and a high FOIR can lead your application towards rejection.
• A low credit score or poor credit history can be the reason behind the rejection.
• Applying with more than one lender can create a bad impression on your credibility which can lead to rejection of your loan application.
• If you’ve applied with a lender that is not suitable for your requirements, then the lender can reject your application.

These are just a few basic reasons for rejection. However, individual lenders can show additional reasons too.

Whether you apply online or offline, only the respective lenders can tell you the amount you can get as a personal loan as your credibility and potential depends on the following factors.

• Income
• Age
• Occupation
• Age of the occupation
• The reputation of your employer or your business.
• Your existing debts.

After considering every vital factor, the lender will decide the loan amount that you can get.