Loan Singh Explains – What is a Personal Loan Needed For?

personal-loan-needs

Introduction

As a digital lending platform, we are often asked about reasons for which someone can apply for a personal loan. What makes a personal loan the best option for quick funds? What is a personal loan needed for? There are many people, like you, who do not know about the different purposes of applying for a personal loan. Before we look at what a personal loan is needed for, let’s look at what a personal loan is, why it is a good source for quick funds, what is the eligibility criteria for a personal loan, reasons why your personal loan application can be rejected with Loan Singh and how you can pay your personal loan EMIs regularly.

 

What is a Personal loan?

Personal loan is an unsecured type of credit, that is availed to meet financial needs. As it is an unsecured credit, there is no mortgage or collateral needed by Loan Singh. As no collateral is needed, Loan Singh looks at your credit bureau score to understand how prompt you are with your credit responsibilities. Based on how good your score is, your personal loan application is approved. The report helps Loan Singh to mitigate any risks in loan EMI defaults. A personal loan from Loan Singh is advantageous because there is no paperwork involved. With a digital process, everything happens online. No collateral also means that time is saved in cross verifying collateral papers, references etc. Loan Singh treats it as a moral duty – to serve the under-served credit worthy Indians, who get their personal loan application rejected by banks for various errors. Salaried professionals with no credit history are thwarted by banks, but not so with Loan Singh. If you are salaried for the past 3 months, you can get a personal loan with no credit history. Similarly, you as a borrower can also find personal loan as a great option for your financial needs.

 

Why Personal loan is a good source for quick funds?

The times of financial emergency can hit any one of us. Loan Singh’s endeavor is to serve the credit starved people of India, who are left with close to zero options after rejection from the banks.  Let’s look at some reasons of a personal loan being a good source for quick funds.

No collateral, security or guarantor

Having no collateral gives personal loan an advantage, over secured loan, because you can get funds even if you do not own any fixed assets. Plus, no guarantor is needed for availing a personal loan with Loan Singh.

Multiple purposes

The different purposes could be purchasing electronic gadgets, home improvement or repair, job relocation, medical expenses, wedding, holiday travel and purchase of household appliances.

Hassle-free process

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 from the confines of your home, and get the loan approved in just a few clicks. You also don’t have to worry about the physical storage of approved documents or attested photocopies, like in traditional lending solutions.

Less time consuming 

As the whole process from approval to disbursement is online, you avoid the time and fuel wasted in visiting the bank repeatedly to submit documents and forms.

No prepayment penalty

At Loan Singh, you can clear a personal loan ahead of tenure with no prepayment penalty – unlike banks.

Personal loan eligibility checklist

For availing a personal loan from a digital lending platform, like Loan Singh, you need to be eligible. Mentioned below are some parameters to be eligible for a personal loan.

Salaried Professional

The minimum monthly salary that you should be earning is Rs.15,000. You must have enough balance left each month, for personal expenses, once all the loan EMIs are paid. You must be of at least 21 years of age, and of Indian nationality.

Credit Bureau Score

You will be deemed credit worthy, only if you have been prompt in your credit responsibilities such as loan EMI repayments and credit card bill payments. If you have no credit history, you must be salaried for at least 3 months to be considered eligible.

 

What is a personal loan needed for?

There are many purposes for availing a personal loan. Some of them are

Travel

Whether it is a honeymoon trip round the world or visiting friends or family, you can avail a personal loan to satisfy your wanderlust.

Medical

An accident or dire illness can rupture your financial planning dearly. A personal loan is perfect for such circumstances where quick funds are needed.

Wedding

Your wedding requires nothing but the best. A quick personal loan can pay for the music, venue and dining; making sure you have the best wedding ever.

More financial needs that can be solved with a personal loan are hair transplant, home improvement, gadget funding, online shopping etc.

 

How to pay your loan EMIs without a hitch?

Some tips from Loan Singh that can help you pay your loan EMIs without any problem are:

Pay your EMIs on time

Generate urgency when coming to pay loan EMIs. Remember your credit bureau score can take a beating if you do not pay the loan EMIs on time. If you are absent minded, keep reminders or set an auto debit feature for direct debits from your bank account.

Set up a budget

A good budget will help you to have the money to continue making prompt EMI repayments. Tweak your budget as and when you get a raise. If you are someone who likes to spend big all the time, ensure you do not put your regular EMI payments at risk. A good budget also includes proper tracking of expenses.

 

67 thoughts on “Loan Singh Explains – What is a Personal Loan Needed For?

  1. Pingback:Loan Singh Explains - Personal Loan Approval To Your Application

  2. Pingback:Loan Singh Explains – Credit Bureau Remarks & Score

  3. Pingback:Are You Really Ready For Personal Loan At Loan Singh?

  4. Pingback:Loan Singh Explains – How to Read Your Credit Information Report

  5. Pingback:Loan Singh Guide - 5 Personal Loan Pitfalls You Can Avoid

  6. Pingback:Loan Singh Explains - How To Use Your Credit Card Smartly

  7. Pingback:6 Simple Tips to Improve Your Credit Score like A Pro

  8. Pingback:What Makes Personal Loan Your Savior in Emergencies!

  9. Pingback:Loan Singh Explains: Pre-approved Personal Loan

  10. Привет! Класный у вас сайт!
    Нашел интересные материалы для владельцев частных домов и не только: мебельный щит в нижнем новгороде

    Здесь: купить мебельный щит сосна в екатеринбурге http://35stupenek.ru/mebelnyj-shhit-iz-sosny.html
    Тут: срощенный мебельный щит
    Здесь: http://35stupenek.ru/prajs-list
    щит мебельный сосна экстра цена http://35stupenek.ru/mebelnyj-shhit-iz-sosny.html
    http://35stupenek.ru/dveri-iz-duba.html
    Здесь: мебельный щит сосна тула http://35stupenek.ru/mebelnyj-shhit-iz-sosny.html
    Тут: балясины и столбы деревянные http://35stupenek.ru/reznye-balyasiny-i-stolby.html

  11. Приветствую всех! Класный у вас сайт!
    Что скажете по поводу этих новостей?
    Перечень месторождений для перевода на НДД вряд ли появится в октябре http://firstnewz.ru/news/5477-perechen-mestorozhdeniy-dlya-perevoda-na-ndd-vryad-li-poyavitsya-v-oktyabre.html
    Компьютерный ремонт или почему ломается техника
    http://firstnewz.ru/news/6056-rossiya-ugrozhaet-ukraine-predoplatoy.html
    Сланцевый газ не сможет обеспечить ЕС энергонезависимость http://firstnewz.ru/news/4529-slancevyy-gaz-ne-smozhet-obespechit-es-energonezavisimost.html
    http://firstnewz.ru/news/13441-svodki-ot-opolcheniya-novorossii-14102015.html
    Ещё тут много интересного:
    Новости политики, Россия США Украина Белоруссия Новороссия Донбасс ЛНР ДНР Новости политики, Россия США Украина Белоруссия Новороссия Донбасс ЛНР ДНР
    новости днр 12 12 2014 http://firstnewz.ru/
    новости новороссии 10 11 2014 потери армии днр
    лнр youtube заявление путина о донбассе

  12. Dyeing fabrics http://allchemicals.info/index.php?option=com_xmap&view=html&id=1 is giving the fibers a togs color that has a guaranteed mandate of strength. The methods of dyeing are unequivocally dissimilar, depending on the properties of the dyes and the dyed fibers.

    Dyeing of fibrous materials http://allchemicals.info/index.php?option=com_xmap&view=html&id=1 until the nub of the 19th century was produced at immediate illuminati dyes of machinery and kitschy emblem (craps, hematipes, indigo, cochineal) and partly mineral (iron blanca, chromic yellow, Berlin depressed).

  13. В аэропорту Барселоны viptour-transfer.com всегда много автомобилей такси. Для того, чтобы сесть в такси необходимо встать в очередь и ждать, пока вас не направят к конкретной машине. “Голосовать” трансферы в Барселоне на стоянке такси аэропорта Барселоны нельзя. Стоянки такси находятся как напротив Терминала 1 (Т1), так и Терминала 2 (Т2) аэропорта Барселоны.

  14. Pingback:Loan Singh Explains: The Personal Loan Underwriting Process

  15. Pingback:Loan Singh Explains: Personal Loan Post Approval Process

  16. Pingback:Why Loan Singh is the Best Source for a Second Hand Car Loan

  17. I have been exploring for a little bit for any high-quality articles or blog posts on this kind of space .Exploring in Yahoo I ultimately stumbled upon this website.Reading this info So i am happy to exhibit that I have a very good uncanny feeling I came upon just what I needed.I most definitely will make sure to do not fail to remember this web site and give it a glance regularly. ไปรษณีย์ไทย ems เช็คของ

  18. 15 Apr 2014 The scope and complexity of Rick and Morty should be no surprise meticulously-constructed television on his other series, Community. Jan 12, 2016 If you’ve been binge-watching Netflix’s latest hit “Making A Murderer,” you know that officers of the law can sometimes ignore evidence or do
    go to my site
    123Movies Watch The Carbonaro Effect: Season 1 Online | the carbonaro effect: The Carbonaro Effect S01 | Director: | Cast: Michael Carbonaro, Keith Ham. you want to watch, Simple way to watch thousands movies and tv shows online. 8 Aug 2014 Watch Siblings Online – Siblings Streaming: Siblings is a new BBC Three sitcom created and written by Keith Akushie (Fresh Meat), starring

  19. Pingback:Loan Singh Explains: Personal Loan for Debt Consolidation

  20. Pingback:Loan Singh Teaches You 5 Benefits of Prompt EMI Repayments

  21. Pingback:What Happens When You Face A Personal Loan Default?

  22. Pingback:9 Things to Keep in Mind before Getting a New Credit Card

  23. Pingback:6 Tips to Ensure Your Personal Loan Application is Approved

  24. Pingback:Top 6 Reasons for Your Personal Loan Application to Be Rejected

  25. Its like you read my mind! You seem to know a lot about this, like you wrote the book in it or something.I think that you could do with some pics to drive the message home a bit, but instead of that, this is wonderful blog.A great read.I will certainly be back. เช็ค ems

  26. Pingback:5 Things to Remember Once Your Personal Loan is Approved

  27. Pingback:6 Discreet Ways Credit Cards Ruin Your CIBIL Score

  28. Pingback:Loan Singh Explains - A Beginner’s Guide to Credit Cards

  29. Pingback:Introducing Loan Singh - The Face of Digital Lending In India

  30. Pingback:5 Things to Remember When Availing an Online Personal Loan

  31. Pingback:Loan Singh Explains: The Importance of Credit Card Safety

  32. Pingback:3 Things Every Salaried Individual Should Know About Income Tax Returns

  33. Pingback:8 Personal Loan Rejections And How To Avoid Them!

  34. Pingback:Loan Singh Offers Personal Loan for Overseas Travel and 5 Cool Travel Tips

  35. I have checked your site and i have found some duplicate content, that’s why you don’t rank high in google’s search results, but there is a
    tool that can help you to create 100% unique content, search for; Boorfe’s tips unlimited content

  36. I have checked your page and i have found some duplicate content, that’s why you don’t rank high in google’s search results,
    but there is a tool that can help you to create 100% unique articles, search for:
    Boorfe’s tips unlimited content

  37. wonderful publish, very informative. I ponder why the other specialists of this sector do not realize this. You should continue your writing. I am sure, you have a huge readers’ base already!

  38. In the awesome pattern of things you’ll receive a B- for hard work. Where exactly you lost me personally was on all the details. You know, as the maxim goes, details make or break the argument.. And that could not be more true at this point. Having said that, let me tell you precisely what did give good results. The text can be highly engaging which is possibly the reason why I am taking the effort to comment. I do not really make it a regular habit of doing that. Second, despite the fact that I can easily notice a leaps in reason you make, I am not certain of exactly how you seem to connect the points which in turn help to make the conclusion. For now I shall yield to your issue but trust in the near future you link your dots better.

Leave a Reply

Your email address will not be published. Required fields are marked *