How Can a Personal Loan Help You in Any Stage of Your Life?

personal loan

A need for extra cash can arise at any time. It could be for a medical emergency or to consolidate your credit card debt. In such a situation, opting for a personal loan can provide you with much required financial assistance. A personal loan is one of the most sought-after loans in India. When used wisely, it can fill the gap in your budget quite effortlessly.

A Loan for Everyone and Every Need

Unlike a student loan, home loan or car loan that is approved for specific purposes, a personal loan is sanctioned for any end-goal. If you fit the personal loan eligibility criteria as outlined by your lender, you can apply for personal loan and use the sanctioned amount to fulfil your long-lasting aspirations. Given below are a few ways in which you can use personal loans. 

  • Finance your child’s higher studies without compromising on quality education with the help of a personal loan. 
  •  Whether you want to purchase a house for the first time or plan to renovate your current residence, an instant personal loan can help out, while giving you additional tax benefits.
  • Weddings are always an expensive affair, but with the help of a personal loan, you can fund the wedding of your dreams. Using a personal loan for a wedding also saves you from draining your savings or liquefying assets.
  • Whether it is you or any other family member, a medical emergency that calls for urgent funding can happen anytime. In such a scenario, a personal loan is the ideal financial aid.
  • If you have solo or group travel travels, finance it with a personal loan. This type of loan allows you to tick things off your bucket list without spending all your savings. 
  • If you are amid a financial crunch, you can avail of a personal loan to help with day-to-day expenses like payment of bills, etc.

Other Unsung Benefits

No collateral required

A personal loan usually is an unsecured loan, meaning that no collateral or asset is required to avail it. The personal loan is offered based on your repayment capacity and credit history.

Minimal documentation

To get a personal loan, you don’t have to go through a lengthy documentation process. Most lenders offer personal loans with minimal documentation.

When looking for an instant personal loan, choose Tata Capital. Tata Capital offers personal loan for self-employed as well as salaried-individuals at attractive and affordable personal loan interest rates. 

Financial institutions also provide a personal loan EMI calculator on their website, so that you can plan your EMIs better.

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