Quick Personal loan

We all face sudden expenditures that are beyond our planning. Be it a wedding of a close relative or, maybe a long-pending holiday break or maybe to change your old laptop. You need sudden unplanned cash in all these situations. Applying for a quick personal loan is the most convenient way to overcome such barriers.

Following are a few most convenient ways to get a quick personal loan, Loan against FD

• If you have a fixed deposit in the bank then you can apply for a quick loan against your FD.

• As the bank already has your KYC, the process needs almost no documentations except filling up the loan application form.

• Banks offer 90-95% of the FD value as the loan amount.

• The bank charges 1-2% extra interest than what you are getting from that FD.

• You get the loan on the same day you are applying for.

Credit Card loans

• You can apply for this online personal loan if you are using a credit card.

• This is a pre-approved loan offered by the service provider.

• The amount depends on your credit score and, the credit limit of your card.

• A processing fee is applicable.

• The rate of interest varies from 12-24% / annum

• It offers a flexible repayment tenure varying between 3 months and 2 years.

Gold Loan

• With gold price increasing and attaining a record high at its pick point in the recent past, it is easier to avail of a gold loan.

• Banks offer up to 90% of the value of your gold jewelleries and ornaments as a loan.

• The application process is easy and you can get the cash on the same day itself.

• The interest rate is also low as compared to other loans as this is a secured loan. Banks also offer flexible options for repayment.

Covid-19 personal loan

• Many nationalised banks like PNB (Punjab National Bank), Bank of India (BOI), and Bank of Baroda (BOB) is offering a special loan for pandemics.

• The loan is named “Covid-19 Personal Loan”. They are offering this loan to their customers holding their salary accounts in their banks.

• This loan has comparatively stringent criteria to get approved as compared to a general personal loan for other non-customer salaried people.

Hope the above options will solve your need for quick personal loan .

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