Why should you consider taking out a personal loan from an NBFC?

BusinessBrand StoriesWhy should you consider taking out a personal loan from an NBFC?

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Explore the advantages of choosing a personal loan from an NBFC, and learn how they offer flexibility in repayment and convenience to fulfil your diverse needs.

Our long-term goals frequently become secondary as our daily expenses continue to increase. Whether aiming for higher education or renovating your home, these aspirations often face delays due to financial limitations. In such cases, considering a personal loan can be a practical solution. Numerous non-banking financial companies (NBFCs) in India offer personal loans with simple eligibility criteria and competitive interest rates.

Bajaj Finance Limited distinguishes itself as one of these NBFCs, providing swift approval and clear eligibility criteria for their personal loans.

Here are the top five benefits of taking out a personal loan from Bajaj Finance Limited:

1. No collateral is required

    Unlike secured loans, personal loans do not necessitate collateral, thereby enhancing accessibility for individuals who are hesitant to pledge their assets. Furthermore, the absence of collateral removes the need for asset verification for the lenders, facilitating a swift verification process for personal loans.

    2. Substantial loan amount

      Selecting a Bajaj Finserv Personal Loan comes with a key benefit to access substantial funds. Personal loan empower borrowers to secure a noteworthy amount of financing, depending upon the lender’s terms and the borrower’s creditworthiness. This financing option is especially attractive to individuals requiring a substantial amount for personal purposes. Bajaj Finance Limited offers personal loans of up to Rs. 40 lakh, providing the means to address various significant expenses.

      3. Simple documentation

        Another notable benefit of personal loans is the simplified documentation procedure. Bajaj Finserv’s personal loans minimise the hassle of extensive paperwork by allowing all required supporting documents for loan applications to be submitted digitally. Documents such as proof of age, address, income tax returns, credit history, and other essential details are necessary during the application process.

        4. Quick disbursement

        Bajaj Finance Limited is renowned for its rapid processing and disbursement of personal loans, making them a preferred choice for individuals in urgent need of financial assistance. Bajaj Finserv Personal Loans are disbursed within 24 hours* of approval, offering a prompt solution for handling unexpected financial obligations without straining your financial resources.

        5. Flexible tenure options

          Personal loans typically come with flexible repayment terms, allowing borrowers to manage their debt more comfortably. Bajaj Finserv Personal Loans are particularly appealing due to their flexible repayment options. Borrowers can choose a repayment tenure ranging from 6 to 96 months, making it an excellent choice for individuals who prioritise freedom and flexibility in their repayment schedules.

          A Bajaj Finserv Personal Loan is a dependable and best method to fulfil your financial responsibilities on time. Use the personal loan EMI calculator available on the Bajaj Finserv website to determine your instalments in advance by inputting essential details like the loan amount, tenure, and interest rate. Visit the Bajaj Finserv website to initiate your loan application today.

          *Terms and conditions apply

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