Shopping Loans – No Document Hassle Festival Loan is Here

Shopping loans are perfect for celebrating Dussehra. Also, for Diwali celebration a festival loan from Loan Singh can let you celebrate with ease.

It’s day-7 of Navratri 2018 and, by now, many of you must have already started spending towards celebrating an awesome Navratri. The fifth day of Navratri is dedicated to Goddess Skanda, and is a day when we faithfully believe in her ability to clear-off the gloom over financial disappointment and personal difficulties.

We have seen how an online personal loan can be your best solution during such a busy period of Navratri. You can apply for a Navratri Personal Loan with Loan Singh, at the same time directing your electrician on where to hang the lights. It is that simple. During Loan Singh’s Weekly Series of Navratri, You got to know more about how Loan Singh gives you quick online personal loans. Today, we continue with our Navratri series and discuss the minimal documentation process at Loan Singh – as compared to banks.

Click here, to understand all about a personal loan in India

Exhaustive Bank Documentation

As a salaried individual looking for funds to spend for Navratri, what could be the pain-points which you may experience? Time, documents or inconvenience?   We think it is all of these, and more…

It is a lengthy process to apply for a personal loan at banks. Not just time consuming; there is the added baggage of photocopies, attestation and what not. Let’s look at the documents checklist that goes into a personal loan at banks.

Identity Proof

You need to establish your identity by providing any one of the following documents to the bank or financial institution

  • PAN (Permanent Account Number) Card
  • Election Voter’s Identity Card
  • Driver’s License
  • Passport
  • Ration Card
  • Telephone Bill (either landline or postpaid mobile phone bill)
  • Electricity Bill (in your name)
  • Life Insurance Premium Receipt
  • Employer Identity Card (Government issued)
  • Lease Deed/Title Deed (both pertaining to ownership of land)
  • Municipal Tax Receipt (for house)
  • Allotment Letter (if you work for state or Central Government)

Age Proof

To establish the correct age to the bank, you need to provide

  • Birth Certificate issued by a Civic Authority
  • Passport
  • Government Employee Identity Card
  • PAN (Permanent Account Number) Card
  • Election Voter’s Identity Card
  • Secondary School Leaving Certificate (Class 10th)
  • LIC Policy or Premium Receipt that indicates your age
  • Pension Payment Order or Family Pension Order
  • Defense Identity Card (authorized to dependents of soldiers in active duty or retired)

Residence Proof

Any of the following documents, acts as a residence proof

  • Aadhaar Card
  • Ration Card
  • Bills of Electricity
  • Water bill
  • Gas Connection Book
  • Telephone Bill (either landline or postpaid mobile phone bill)

Income Proof

A key aspect of getting a personal loan approved is the income you earn. For salaried individuals, the documents needed are

  • Latest salary slips from employer
  • Last 3 months’ bank statement from the salary account
  • Appointment letter or proof of continuity of employment
  • Form 16 for the last 2 years which indicate details about income and deductions
  • Acknowledgement receipt of Income Tax returns of the last 2 years
  • For individuals who are self-employed, the list consists of
  • Proof of Employment such as Trade License
  • Sales Tax Certificate
  • Financial Audit Report of the self-run enterprise or business, for the last 2 years, which indicates annual profits and losses
  • Bank statement reflecting transactions of the last 6 months

Phew! That is a handful. Now let’s look at how you can get a personal loan from the confines of your living room.

What is United Payments Interface? Are You UPI Enabled?

Navratri Personal Loan

To cater to the 9 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.

The best place to get a really quick and easy personal loan, is a digital lending platform – such as Loan Singh. 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 up to weeks to disburse the funds. For a personal loan, the borrower’s credit worthiness determines if he/she can pay the loan EMIs regularly, and that too, without straining his/her daily living. 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 gold, holiday travel, home improvement, relocation of job, medical expenses, home renovation, marriage, etc.

Being Loan Singh Eligible

Before you begin the quick and easy application process at Loan Singh, check the following eligibility criteria required for a personal loan.

Salaried

To avail a personal loan from Loan Singh, you need to be a salaried individual – with a minimum monthly salary of Rs. 20,000.

Credit score

Loan Singh looks at your credit score, to evaluate your credit worthiness, before approving the loan. 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 bill 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.

Age

You need to be at least 21 years of age, to be considered eligible for availing a personal loan with Loan Singh. As mentioned above, you must be of Indian nationality and salaried, as well.

Financial stability

You need to have a stable monthly income. A good budget is advised to avoid times when you might find it hard to pay-off the loan EMIs.

Click here, to understand everything about credit score in India

Shopping Loan Benefits in India

Loan Singh’s hassle-free process and quick approval shopping loans are perfect for salaried individuals like you who are too busy to even take rest. The attractive EMIs and interest rates at Loan Singh, make shopping loans affordable to repay back. Add luxury to your mundane lives without putting too much strain on your finances.

Your dreams are our dreams. We help turn your dreams into reality. Brand new appliances and electronic products are also needed in case you are relocating due to your job. The job relocation personal loan at Loan Singh helps cover exactly this.

Loan Singh’s easy EMI calculator can help you understand how much you need to pay in order to clear your consumer durable loan. The calculator only needs your intending loan amount and tenure for telling you how much you need to pay each month. The consumer durable loan can be availed between Rs. 50,000 and Rs. 5 Lakhs.

Another huge benefit you have with a Loan Singh shopping loan is that you have the freedom to choose where you want to spend your loan amount on. You can apply for a shopping loan and utilize the cash to spend on an Amazon, some on Flipkart or some on Snapdeal. Unlike so many ecommerce websites that let you gain discounts for possessing a debit card or points of a particular finance provider, Loan Singh’s personal loan can be utilized to be spent on the website you want and on the product you want to spend on.

Click here, to learn about home improvement personal loan in India

About Loan Singh

Loan Singh is a digital lending platform that prides in providing online personal loan or unsecured personal loan to salaried individuals. You can apply for quick funds as an easy emergency loan which is not a bank loan. We provide a loan with the best personal loan interest rates. The instant funds, or instant loans, are loans between Rs. 50,000 and Rs.5,00,000 taken for purposes such as:

You can calculate your easy EMIs using our personal loan EMI calculator. We accept bank statement and PAN, for quick loan approval. A bad credit score or credit report errors can lead to personal loan rejection. The ‘Loan Singh Finance Blog’ is one of the best finance blogs in India. Loan Singh is a product of Seynse Technologies Pvt Ltd and is a partner to the Airtel Online Store.

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. You can find us on Loan Singh Facebook, Loan Singh Twitter, Loan Singh YouTube, Loan Singh Pinterest, Loan Singh Instagram, Loan Singh LinkedIn, Loan Singh Blogarama, Loan Singh Google Review, Loan Singh Medium, Loan Singh Reddit, Loan Singh Tumblr, Loan Singh Scoop It, Loan Singh Storify, Loan Singh Digg and Loan Singh Blogger.

Shopping loans are perfect for celebrating Dussehra. Also, for Diwali celebration a festival loan from Loan Singh can let you celebrate with ease.

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