Personal Loan

When it comes to Personal Loan, most of us get a little scary but they can be your great saviour to manage unforeseen expenditure. The best thing is to get a better deal with just a few steps away!

What is your reason to take Personal loan?
To Consolidate Debt
To pay off Credit cards bills
To renovate your Home
To manage Wedding expenses
To plan a Vacation
To buy a Car or Gadgets

Whatever is your reason; MeraEmi offers flexible Personal Loan options to suit your unique needs. MeraEmi will help you to get a personal loan as quickly as possible. Personal loan earlier were difficult to get; now they are easy but yes there are few strict qualifying requirements to avail the same. Further being an unsecured loan, the interest rates on personal loan are higher than the rest of loans.

Personal Loan Amount and Tenure

The personal loan amount can range between Rs 1 lacs – 20 lacs loan limit and repayment tenure are between 1 to 5 years, depending on the lender and the borrower’s ability to pay back.

Personal Loan process

Personal Loan sanction process is very fast as compared to other loan processes, as the lender does not have to verify any asset. The entire process can take anywhere between 2 to 7 working days. Once all the necessary documents are submitted and the verification process is completed, the loan if sanctioned can be disbursed within 7 working days by the bank/NBFC. For salaried customers, the process is much easier if your organization has your salary account in the same bank. The bank will already have a pre-approved loan limit at special rates ready for withdrawal whenever you need it in the form of a Term Loan or Overdraft facility. This enables you to take care of any unexpected fund requirement in case of Accidents, Educational fees, Urgent Home Repairs, etc.

Features

No Collateral

A personal loan is sanctioned on the basis of an individual’s credibility,
For eg: age, credit score, salary, repayment capacity etc. All these criteria are enough to get a Personal Loan.

Flexible Use

You can use it for any purpose like education, wedding, vacation, household expenses, medical bills etc.

Flexible Tenure

In a personal loan, there is the flexible repayment tenure from 1 to 5 years which can be opted as per individual’s repayment ability.

Minimum Documentation

You need to submit minimum documents from the comfort of your home which is collected by the customer representative.

Quick Disbursal

The loan amount is disbursed within minimum number of days.

Eligibility

Lenders assess Personal Loan eligibility with a combination of factors including customer’s ability to repay loan, and other factors like age, residential stability, occupation and credit history. You need to meet some basic conditions to be eligible for a Personal Loan. Following are the general Personal Loan eligibility factors:

You should be between 22-58 years of age.
You should have a monthly income of 20,000
You should be in the same job for 6 months
You should have a minimum of 1-year of work experience.

However, the criteria are relaxed for well-qualified personnel in reputed organizations who have salary accounts with their respective banks

Documentation

  • Photo Identity Proof:-expand_more
    Passport
    Driving Licence
    Voter i/d card
    PAN Card
    UID Card (Aadhar)
  • Signature Proofexpand_more
    Passport
    PAN Card
    Driving Licence
    Letter from the existing banker ( Scheduled Commercial Bank ) attesting name, address, photograph and signature on bank's letterhead.
  • Address Proofexpand_more
    Passport
    Driving Licence
    Utility Bills ( Electricity / Telephone / Gas / Mobile : Not more than 2 months old )
    Latest ( Within the last 3 months ) bank statement/passbook of any scheduled commercial bank
    Latest ( Within the last 3 months ) bank statement/passbook of any scheduled commercial bank
    UID Card ( Aadhar )
    Municipal tax bill
  • Income Documents expand_more
    Copies of last 3 months salary slip.
    Copies of Form No 16.
    Copies of Last 6 months bank statements where salary gets credited.
  • Business Proof (Only for Self-Employed) expand_more
    MoA & AoA
    Partnership deed
    Professional degree for SEP
    Membership certificate for SEP
    List of directors & Shareholding pattern - if applicable
    Shop & Establishment certificate
Why choose us?
Maximum loan amount
Lowest Interest rate offers
Hassle-free easy Loan Process
Quick response
Best customer service.
Helping new users/users with no credit history
Top Lenders Rates In One Place
Easy Collection of Documents
Quick Approvals & Disbursals
How to Apply?
Check your Eligibility.
Fill the online Application form.
Get Your Loan sanctioned online.
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