How Do I Apply for a Personal Loan?


You can apply for a personal loan in 2 ways i.e. Online or Offline.


Offline:

You can walk into the bank where you hold an account. After visiting the bank you can tell them about your requirement. You must let them know about Personal loan amount you require and discuss about how much EMI you can pay. The Bank will then check your credit history and accordingly give you a good deal. The paperwork in such cases is very minimal as the Bank already has all your personal and financial information. Since you are visiting the Bank for the loan where you hold an account, you might be able for a relationship discount. The Bank might also offer you some additional benefits.

Online:

You can log on to websites of different Banks online. Once you visit the website, you will have to fill a form with your name, contact number, email and loan requirement. The Bank will receive your information and will give you a call to understand your requirement. They will need some documents and financial information to understand your credit history and accordingly will provide you with a credit score. Since there are many Banks online, you will have to visit them individually and complete the whole process.

Our verdict:

You can choose to opt for either route. But we highly recommend that you save your time and efforts by visiting Ruloans. Our portal has information from more than 20+ Banks and NBFC’s. Once you fill the form, you will see the latest deals being offered from all the major players. You can compare and choose accordingly as per your requirement. So next time you have a requirement, do visit us!

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