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!

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.

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 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.

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.

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

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.

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

The loan amount is disbursed within minimum number of days.

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:

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