What are Personal Loans
Seamless Personal Loans from Antworks Money
In an ideal scenario, we would have tons of money to fulfil all our dreams and desires. The reality, unfortunately, is quite different. This is where personal loan by on the Antworks Money web portal come handy. Our virtual marketplace enables the procurement of personal loans at the best rates without going through the hassles of endless documentation.
What is a personal loan?
As the name suggests, a personal loan can be used to meet a variety of multi-purpose needs. Whether you want to buy an expensive gadget, get married, go for a honeymoon, pay for your child’s education or cover an unexpected medical emergency, a personal loan can help accomplish all these objectives. In fact, it can also be used for debt consolidation and clearing mounting credit card payments.
A personal loan is an unsecured debt that can be acquired by a salaried, professional, or self-employed individual from a bank or a non-banking financial company (NBFC) without offering collateral or any kind of guarantees like an asset, gold or property. All that is needed is a signature provided you meet the set eligibility criteria in terms of income source, credit history, employment status, repayment capacity, etc.
If you’re thinking about taking out a personal loan online, here are some things you should know.
Amount & repayment tenure:
While, the amount of money that can be borrowed varies, most lending institutes offer a minimum principal amount of Rs.30, 000. This can go up as per requirements. Regarding the loan tenure, you generally get 1 to 5 years duration. The borrowed amount can be repaid in fixed Equated Monthly Instalments (EMI’s).
Interest rate:
Given that personal loans are unsecured and a tad risky, they come with a high rate of interest, something to the tune of 11% to 22% a year. The interest rate varies from person to person and lender to lender. It is typically fixed after factoring the borrowers’ age, income, creditworthiness, repayment capacity and so on. Before taking the plunge, it is important to compare personal loan rates charged by different lenders to help clinch the most lucrative deal available.
From where should one borrow?
The personal loan arena is a fiercely competitive arena. This where Antworks Money steps in. A leading peer-to-peer (P2P) lending platform in India, Antworks Money is among the best alternatives for acquiring instant personal loans online in a cost-effective manner with complete transparency.
Personal Loans on Antworks Money:
Antworks Money offers a comparison platform online personal loan from leading banks and NBFCs without any stringent procedures or paperwork. The process is a seamless, quick, and convenient. You can verify your eligibility status online and if everything is in compliance with the specified policies, just upload the required documents for further course of action.
Our digital channel provides access to an array of pre-approved loans from multiple lenders along with estimations by each regarding interest rate, processing fee, and the repayment requisites etc. Just compare personal loans to select a lender that provides the best terms and conditions.
Apart from online personal loans, our peer-to-peer (P2P) lending platform is the easiest and the fastest way to borrow money when in dire need.
So stop fretting about arranging funds for personal aspirations! With Antworks Money, taking out a personal loan is just a few clicks away.
