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Personal Loan

Do you know how to get a personal loan? What is the interest rate? Mudra pay provides you an easy personal loan with low-interest rates. Get more info here.

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Personal Loan

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  1. There are so many types of loans. 1. Business Loan 2. Personal Loan 3. Home Loan 4. Quick Loan Mudra Pay providing you here information about Personal loan. We will understand step by step about Personal Loan. What is a personal loan : A personal loan is an unsecured-loan given based on Salary or Business Income. It doesn’t require any collateral or deposit.

  2. When can one take a personal loan : Personal loans can be taken for various purposes like health emergencies, outdoor traveling plans, child’s education, home interior, buying vehicles, paying outstanding credit card bills, etc. Who can get a personal loan? Generally anyone salaried in the Public, Pvt sector or Proprietorship firm can get it. PERSONAL LOAN INTEREST RATE & TYPES Different ROI on a personal loan

  3. The rate of interest varies from 7.99% and goes up to 42% annually. It primarily depends on the profile yours. If you have a good CIBIL and credit history it will be less. Types of Personal Loan 1. Term Loan: This is a general unsecured loan of a bigger amount and for larger tenure like 36 months and above. 2. Flexi Loan: Here you get the credit line of the pre-approved loan amount. Till you don’t withdraw the amount there are no charges on it. You only have to pay for the amount that you withdraw from the total amount. Ex: You can apply for Rs 5 Lakh for a credit line. It will show on the dashboard of the banking APP. Out of which you withdraw Rs 1 Lakh, in that case, you have to pay EMI only for Rs 1 Lakh. Also, you can again repay the whole amount before the tenure of it. 3. Payday Loans: These are the new Loan products that provide the facility of having a loan for short amounts and for a short duration. Its eligibility and amount are dependent on the salary withdrawn.

  4. MudraPay in aggregation with its Banking partners is providing the Personal Loan with the lowest interest rate. Apply Personal Loan Online on MudraPay and get the Instant Personal Loan principal approval within 48 hours. Get approved easily.

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