Whether it’s going to Bahamas on a family vacation or attending a friend’s destination wedding, or renovating your home to make it more beautiful, well friends, whatever the reasons you have, a personal loan comes handy for all your personal needs. Yes, that’s right!
If you have many dreams/desires in life that you need to fulfill, but due to lack of funds or financial crisis, you won’t be able to that freely or can’t enjoy such moments easily,nothing to worry as here is a solution of all your problems.Yes, with the help of availing this credit facility, you can meet all your desires in life as you get the funds instantly for the same. But, when it comes to availing this credit, which lender offers the best facility?
Which lender is the best amongst many? Well, if you are getting confused as which lender to choose, nothing to worry because we are here to help.
Yes, to keep you away from that hassle, here we have the SBI Personal loan that can actually be a big relief. The personal loan being offered by this lender can easily be used to fulfill your various needs as the lender offers you the amount instantly without any hassle.
However, one thing that needs to be mentioned here is the fact that there are many lenders available in the market for the same, but there are very few on whom you can actually trust. But, that is not the case with State Bank of India (SBI) as it is no doubt one of the leading names in the banking arena whom you can trust blindly. This leading lender offers you the loan at an interest rate of 11.90%-16.55% (secured), 10.55%-15.65% (unsecured) for a tenure of upto 5 years along with a one-time processing fee of 1% of the loan amount. Moreover, the best thing about this bank is the fact that it has no prepayment charges and also it does not even ask for a collateral or security deposit.
This is the reason that many people of the country, when in need of a Personal loan prefer to avail the same through this reputed bank. Also, the process of availing the loan is quick, convenient and simple, hence you won’t face any hassle while going for the same. As a result, these things itself make SBI a reliable and trustworthy brand in the financial world, grabbing the eyeballs of many. Furthermore, this credit facility comes with many remarkable features and benefits to choose from, hence there are many components/key factors that make this bank stand out. The bank offers you many personal loan schemes such as the Xpress Credit and Jai Jawan Pension Loan.
So, depending upon your eligibility criteria, you can easily choose the scheme that best suits your profile. However, let’s just take a moment and throw some light on eligibility. Why it is so important? What if you does not meet the eligibility criteria set by the bank? Well, if you want to avail this unsecured credit, meeting the eligibility norms is highly important as it is the main factor that actually decides whether you are eligible to apply and avail the same or not.
Usually the bank offers the loan to both salaried as well as self-employed individuals, deciding the same on various parameters such as age, income, work experience, etc. If you meet these criteria set by the lender then only you would be consider eligible to avail the loan, if not than the credit will not be provided to you.
Another crucial factor you need to keep in mind while applying for the same is the documentation. Yes, until and unless you won’t have a complete list of documents ready with you, the bank will not offer you this unsecured credit. Moreover, if things are in your favor and you have a good credit score as well, there is no looking back. The lender would be more than happy to give you the credit instantly and ensures that you have a hassle-free loan journey.
But, before avail SBI personal loan, calculating your monthly installments is also a vital factor. You should ensure that the exact amount of your monthly installments should be pocket-friendly so that you can easily repay the same. And, that calculation you can easily do with the help of an EMI calculator.
So, I hope with this piece of information above, you can have a smooth loan buying journey, if you are availing a Personal loan from SBI in the future.