Times are changing. The recent ‘PNB-Nirav Modi Fraud’ exposed a glaring weakness in India’s banking sector – Poor Risk Management. This, and also the fact that with layers of security measures introduced and implemented by the government, and web alike, your data (whether personal or financial) is safe with a digital lending platform.
Another need of the hour is instant approval to avail a personal loan. This is one major reason why many of us now don’t find banks attractive. Online lending solutions stress on reducing the TAT (turn-around-time) from application to disbursement. This makes online personal loan lending perfect for all borrowers.
Loan Singh’s Digital Lending Platform
There are so many questions that are asked about Loan Singh. Whether it is Loan Singh’s Google Reviews or Loan Singh’s Facebook and Twitter pages, people want to know more about online personal loan lending. Some questions that people try finding through our FAQ section are:
- What is digital lending?
- How to apply for an online personal loan?
- Which solution offers low personal loan interest rates?
- Which is the best personal loan EMI calculator?
- How to make easy EMI repayments?
- Which KYC documents are needed for a personal loan? Do we get an Aadhaar loan?
- What happens when there is an online personal loan default?
- Is Loan Singh real?
- Does Loan Singh charge prepayment penalty?
- Who provides online credit score checked loan?
- What is the difference between credit card loan and personal loan?
- How do we receive the loan amount? What are the benefits of netbanking?
- How much is GST in personal loan?
The Loan Singh digital lending platform is set-up in such a way that the borrower’s personal information, financial information, and social authorization, are evaluated digitally; basis which his/her creditworthiness 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 the documentation, this mode of personal loan disbursement is faster and quicker than traditional credit solutions.
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 netbanking account), you save your precious time instead of going around accumulating multiple documents and attestations needed by traditional lending institutions, such as banks.
Using technology, Loan Singh is able to serve the underserved salaried individuals. Loan Singh’s mission is to improve on traditional banking pain points such as delay in loan approval, a lengthy time taken in disbursement, and lack of credit history. With ‘Digital India’ encouraging Indians to make use of various digital payment modes in India, the idea to avail an online personal loan has become a reality, as well.
Online Personal Loan
A personal loan is a type of unsecured credit that is generally availed to meet urgent financial needs. Being an unsecured credit, a personal loan requires no collateral or mortgage. With no collateral, it is hard for Loan Singh to know about the borrower’s repayment capability and his/her past defaults.
Loan Singh does not meet the borrower face-to-face like banks do. Everything from loan application to amount disbursement is done online. To mitigate the prospect of risk, Loan Singh assesses your creditworthiness using your credit report. If you have a good credit history, you have a better chance of avoiding a loan rejection.
The borrower’s credit score/credit rating indicates how prompt you have been with your past credit obligations. Availing a personal loan via Loan Singh is advantageous because there is minimal paperwork involved. So, no time is wasted in cross verifying any paperwork.
The personal loan amount, along with interest rate, is calculated for the entire tenure, and in case you want to clear-off the loan before tenure completion, no prepayment penalty is levied by Loan Singh. 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 as 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…
At Loan Singh, everything from application to disbursement happens online. With only Aadhaar, PAN and Bank statement/netbanking credentials, you can apply for a personal loan and pay for your emergency requirements.
Having no collateral requirement gives a personal loan an advantage over the secured loan. Even if you do not own any assets, you can at least get funds from Loan Singh.
A personal loan can be availed for a number of purposes. The purposes of loan can be for the purchase of household appliances, electronic gadgets, debt consolidation, purchase of gold, holiday travel, instant emergency loan, home improvement, job relocation, medical expenses, home renovation, purchase of second-hand vehicles, marriage, etc.
Loan amount and tenure
The loan amount for a personal loan at Loan Singh can range from Rs.50,000- Rs.5,00,000. The repayment is done via EMIs, with interest rates on reducing balance method. The personal loan tenure can be from 3 to 36 months.
Equated Monthly Installments
You can find out about the EMI amount you will be required to pay each month by making use of Loan Singh’s personal loan EMI calculator. You can avoid the default in EMI payments by providing Loan Singh with permission to auto-debit the EMI amount before the EMI repayment due date. Your personal Loan Singh dashboard allows you to track past EMI payments, pending EMIs and tenure remaining.
The personal loan process at Loan Singh is hassle-free because there is no hefty paperwork or running from bank to bank or filling multiple forms. You can apply for a personal loan right from your home and get the loan approved in just a few clicks.
Keeps your information safe
With Loan Singh being SSL (Secure Socket Layer) certified; all your personal and financial information submitted remains private and protected. You also don’t have to worry about the physical storage of approved documents or attested photocopies like in traditional lending solutions.
At Loan Singh, you can clear a personal loan ahead of tenure and pay no prepayment penalty, unlike banks.
Online Personal Loan Application
If you find yourself fitting Loan Singh’s criteria, log on to www.loansingh.com and apply for an online personal loan. You will need to keep your Aadhaar, PAN and bank details handy. Here is how the process goes.
Get started page – Select ‘PERSONAL LOAN’ from the drop-down and enter the loan amount with the desired repayment tenure.
Registration page – Add your contact number, personal email ID, and corporate email ID
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.
Address page – Choose your type of residence, and 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 (in PDF format) either from your computer, GMail account or directly link your net-banking account. Our net-banking partner is ISO 27001 (2013 standard) certified & provides services to established banks, as well.
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 payments.
Loan Singh’s Online Presence
Loan Singh is not an anonymous digital platform. We are present on almost all leading social media platforms. All you need to do is look for us. Some destinations you can find us on are:
- Loan Singh Pinterest
- Loan Singh Medium Blog
- Loan Singh Reddit Blog
- Loan Singh Tumblr Blog
- Loan Singh Scoop It Blog
- Loan Singh Storify Blog
- Loan Singh Digg Blog
- Loan Singh Blogger
- Loan Singh Lymelight
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