Private Loan in Chennai

The gateway to south India, Chennai, is one of the biggest cultural, educational and economic centers. It is also the fourth most populous agglomeration in India. This directly translates to the presence of a large number of households here from all parts of the country. Tidel Park, one of the largest IT Parks in Asia is situated here, the presence of young IT professionals here just cannot be wished away. The various needs and aspirations of the urban young sometimes cannot be met by the salary alone. Rising inflation and high living standards have ensured that they hardly have access to emergency funds. Private loans in Chennai are helping such young households make ends meet.

In case of unforeseen circumstances, instant personal loans have emerged as the best financial support system for the young urban households. The fast disbursal cash loans in Chennai are quick, easy and hassle-free. Qbera, a leading Fintech company for instance, will inform you about your loan eligibility in 2 mins. The documentation and validations are all done online with minimum paperwork. After the completion of all checks, the amount is deposited directly into your bank account in 24-48 hours. The eligibility for a private loan in Chennai are:

• You must be a salaried individual.
• You must have a min net salary of Rs.20 000/- per month.
• You must be above 23 years of age and less than 55 years
• A minimum CIBIL score of 575 and no defaults in the last 24 months

The CIBIL score plays an important part in defining the loan eligibility of an individual and the interest rate that is being offered. So, with Fintechs who are cash loan lenders in Chennai, even if the CIBIL score is marginally less, the personal loan application is processed. The rate of interest, however, will be on the higher side. These Fintech companies also offer the benefit of flexible repayment tenures, from 6 months to 60 months. Accordingly, the applicant can choose a private loan in Chennai with an affordable rate of interest and tenure so that the monthly budget is managed.

The loan amount is directly disbursed to the applicant’s bank account and there is no restriction on the end-usage. The applicant can use the amount to pay for medical bills or carry out extensive repairs and renovations to his house. He can also finance his marriage, education or simply use the amount to consolidate his debts. If he so wishes, he can use the amount to go on a vacation as well. These instant personal loans are truly multi-dimensional. There is minimal paperwork which is required once the loan amount is approved. The documents needed are:

• Aadhaar Card
• PAN Card
• Proof of address
• Salary and income documents
• Bank statements for the last 3 months
• Photographs