This Navratri, Take an Online Personal Loan From Loan Singh



Navratri is here, and none of us can hold our excitement. The second day is all about happiness, prosperity and peace. We feel happy when our financial obligations, and needs, are taken care of. There is so much to plan, shop and spend upon, during Navratri. Being a salaried individual, you would not have the time to go from one bank to another applying for a personal loan for your Navratri expenses. To celebrate a stress-free and hassle-free Navratri, we need a convenient process to apply for the cash we would require.

So, what is the best source of quick funds that is void of inconvenience and time delays? A digital lending platform, such as Loan Singh, ofcourse. But what makes an online personal loan such a good option? How can the woes of traditional lending be replaced by a quicker and smoother process? All these questions are answered by the latest data driven technology called Digital Lending.


Digital Lending

No human intervention in the loan application process allows for better streamlining. With the number of documents down to just PAN Card and Bank Statement PDF (that too fetched from your net-banking account), you save your precious time instead of going around accumulating multiple documents and attestations needed by traditional lending solutions, such as banks. Technology has equipped digital lending platforms, such as Loan Singh, to serve the salaried and underserved individuals – like you. Loan Singh’s mission is to improve on traditional banking pain points such as delay in loan approval, time taken in disbursement, etc. With digitization enabling Indians to make use of online payment modes, the option to avail an online personal loan does not seem farfetched. Eligible salaried individuals, such as you, are provided funds based on their credit worthiness.

A digital lending platform is set-up in such a way that the borrower’s personal information, financial information and social authorization, are evaluated by the platform; and his/her credit worthiness is calculated. Loan Singh then decides if the loan is to be approved, or not. No bank statement photocopies, no attested documents, no reference forms and no heaps of application forms are needed. With no time wasted in documentation, this mode of personal loan disbursement is faster and quicker than traditional bank solutions.


Online Personal Loan

One of Loan Singh’s unique offerings is to provide an online personal loan to salaried individuals who have never availed any credit before. To cater to the 10 days of festivities, during Navratri, it is obvious that you need a source of funds to celebrate the festival in all its pomp and fervor. Personal loans are unsecured loans that are availed to meet these exact fund requirements. As it is an unsecured loan, it does not require any collateral.

For salaried individuals, to gather up funds to celebrate Navratri within a short span of time is possible only through digital means; as traditional banking solutions would take weeks to disburse the funds. Loan Singh looks at your credit worthiness to determine if you can pay the loan EMIs regularly, or not. The idea is to not strain you with credit, but to make sure that your salary and savings permit you to avail credit. Your credit report acts like a gauge for Loan Singh. It shows how prompt you have been in your previous credit responsibilities and how trustworthy you are. Loan Singh is perfect because of

No collateral – Having no collateral gives personal loan an advantage over secured loan. Even if you do not own any fixed assets, you can at least get funds from Loan Singh.

Multiple purposes – A personal loan can be availed for a number of purposes such as shopping for Navratri, purchase of household appliances, electronic gadgets, purchase of gold, holiday travel, home improvement, relocation of job, medical expenses, home renovation, marriage, etc.


Application process at Loan Singh

Not only is personal loan the best alternative for quick funds, Loan Singh’s quick and easy application process also helps you get the funds you need for any financial emergency. The process to get an easy and quick loan with Loan Singh, is mentioned below:

Get Started Page – Select ‘PERSONAL LOAN’ from the drop-down for ‘Loan Type’ and enter the loan amount with the desired repayment tenure.

Registration page – Add your contact number, personal email ID and corporate email ID

Social Authorization – Connect your Facebook, Google+ and LinkedIn profiles for discounted rates

Profile Page – Fill in your name, gender, father’s name, number of dependents and PAN Details. We use your PAN Card Number to check your Credit Score and as a KYC document.

Address Page – Choose your type of residence; mention your street address, city, state and pin code.

Job Profile Page – Mention your current designation, total work experience, company name, highest qualification, last institution attended and monthly salary.

Financials page – Upload your latest 6 months bank statement from your computer, your GMail account or from your net-banking account.

Auto Debit Page – Provide permissions to your bank name, account number and IFSC code so that Loan Singh can auto debit the EMI amount from your account every month. This way you don’t need to set reminders or miss-out on any loan EMI repayments.


Things to Remember

Switching your mindset from the traditional solutions, such as banks, is a tough ask. For generations, you have seen your friends & family run to-and-fro from bank to bank trying to get the money they needed to celebrate Navratri. For this reason, you are somehow fine with the offline & time unbound method. But, times have changed, your salary has improved and also the work you need to put in each day to improve your income and lifestyle, has changed. You do not have time to apply for a half day leave, carry a bunch of documents to the bank and wait for your turn at counters. 5 things that you should remember while applying for an Online Personal Loan for Navratri are


Everyone does, and you should too. Despite Loan Singh’s digital presence on Facebook, Twitter, Google+ and LinkedIn, you need to understand how digital lending is different from offline modes. Read about Loan Singh’s FAQs, and find out which documents are needed to be kept handy during the online application process. The actual documents should be provided digitally.


Just because you have an internet connection, and you are in need of funds, does not mean a digital lending platform will approve your loan application. You need to be at least 21 years of age & salaried. The minimum monthly salary you should be earning should be Rs.15,000. A competent credit score is key to get that ‘Amount credited’ SMS flashing on your smartphone. Before approving the loan, Loan Singh looks at your credit score to evaluate your credit worthiness. A credit worthy borrower is someone who has been prompt in his/her previous loan EMI payments, maintains a good credit utilization ratio, has been paying-off his/her credit card bills on time and has never overspent over the credit card limit. If you have never availed of a loan before, you will have no credit history. In that case, you need to be salaried for at least 3 months to be eligible for a loan at Loan Singh. The lower your credit score, the lower your chances of being eligible for a personal loan.


The amount you need to borrow will be based on your income and your repayment capacity. The amount should also be intertwined with the personal loan purpose. Navratri is a 10 days festival, and so requesting the correct amount for the celebrations is important.


The process, though dominantly online, is easy and breezy. You can apply for the personal loan from your home, while travelling from work in an Uber, while stuck at a traffic signal, etc. As long as you have internet access and can access your Gmail or Netbanking account, you can finish the process in as short a time as 10 minutes.


Once the personal loan is approved and disbursed to your account, your responsibility should become to ensure you do not default in any of the monthly EMIs. You can set-up an auto debit feature with Loan Singh to debit the EMI amount from your account directly. For some reason if you do default, your credit score is negatively affected, and a penalty for default is levied, as well.


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