Looking for a personal loan in Medak? Whether you’re looking for funds to pay your medical bill, a wedding, or a sudden repair, it is very easily accessible in Medak.
A pilgrim’s paradise, Medak is one of the most popular towns in Telangana. The town also has the Medak Cathedral, which is said to be the largest church in Asia. In this article, we will talk about personal loans, eligibility, documents required, among other things.
Yes, personal loans are easily available in Medak. Banks, NBFCs, and online lending apps all actively service Medak. You can visit bank branches in places like Auto Nagar, Sadasivpet, Dubbaka, and other pockets. Apart from that, online lenders are obviously accessible from phones and laptops.
Interest rates vary by lender, your credit score, loan size, and many other things. Generally, borrowers in smaller towns, like Medak, typically see rates anywhere from about 10% to the low 20s, depending on creditworthiness and the lender’s offer.
However, if you choose to take a personal loan through Moneyview, the rate of interest starts from 14% per annum.
Want to know if you are eligible for a loan? Just like the ROI, the eligibility criteria also depend on the lender. But, as an example, here are the eligibility criteria to get a personal loan from Moneyview’s lending partners -
You can be salaried or self-employed
Your monthly in-hand income should be ₹25,000 minimum
Your CIBIL score should be at least 650
Your monthly income should be directly credited to your bank account
You must be between the ages of 21 and 57
Generally, you don’t need a lot of documents to apply for a personal loan. All you need are -
Identity Proof: Aadhaar or PAN card
Address Proof, in case your Aadhaar card is not your current address proof
An Income Proof: Last 3 months’ statement with salary credits, if you are salaried. If you are self-employed, you will need to submit your Income Tax Return Verification Form for the last 2 years.
The application process varies based on the lender you choose. However, here we have described in detail the simple process of applying for a personal loan through Moneyview -
1
Check Eligibility
Visit the Moneyview website or download the loan app and provide all the details required. We will then let you know your eligibility in just 2 minutes.
2
Select Loan Tenure
Select the loan amount and repayment term of your choice based on your eligibility.
3
Upload Documents
Upload the required documents online effortlessly.
4
Amount Disbursed
After your documents are verified and the loan agreement is submitted, the loan amount will be credited to your bank account within 24 hours in most cases.
Major lenders with local reach include national banks and NBFCs like HDFC, Bajaj Finserv, Tata Capital, Hero FinCorp, and Mahindra Finance. Online lenders like Moneyview also service Medak, and you can get a loan on your phone very easily.
Here are some tips you can use to get better loan offers in Medak -
Consider all your salary history and any other additional income sources you have. That way, you will be able to get a higher loan offer.
Don’t apply to too many lenders at once. Lenders perform hard enquiries and too many of these may make you look credit hungry.
If you are unsure about application process, etc. visit any local branch of a lender to help you with it.
If you want speed and minimal paperwork, try reputable instant loan apps (pre-approval first, then finalize documents). If you want hands-on help, visit a local branch or authorised agent in Medak to walk through the process. Whichever route you take, compare the full cost and pick the lender that fits your repayment plan.
If you want an instant loan offer, just head over to the Moneyview website! There, you can calculate your EMI and plan ahead. Then, just apply for a loan of your preferred amount on the website or the app.Disclaimer
The starting interest rate depends on factors such as credit history, financial obligations, specific lender's criteria and Terms and conditions. Moneyview is a digital lending platform; all loans are evaluated and disbursed by our lending partners, who are registered as Non-Banking Financial Companies or Banks with the Reserve Bank of India.
This article is for informational purposes only and does not constitute financial or legal advice. Always consult with your financial advisor for specific guidance.
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