Personal Loan in Delhi - Loan Trivia


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Personal Loan in Delhi

How Can a Self-Employed Person Get a Personal Loan in Delhi ?

All self-employed individuals can get a personal loan in Delhi provided they have a sound financial background and decent CIBIL score of 750 or above. Since these loans are unsecured loans, you do not have to provide any security or collateral. However, most financial institutions place great emphasis on financial antecedents and it is vital that you maintain good money management skills.

In India, almost all financial institutions separate self-employed people with technical degrees as opposed to those who do not have one. For the sake of clarity, the two categories are defined below.

# Self-employed professionals: This section incorporates everyone who has successfully completed a technical degree. People with MBBS, BDS, MD/MS, and B.Tech, among other technical degrees, are eligible to apply for a personal loan in Delhi.

# Self-employed non-professionals: All loan applicants who are educated but may not necessarily have a technical degree fall under this category. Such applicants may be eligible to apply for a loan.
In the last 5 years, unsecured personal loans have grown by 32%, according to the latest reports. Thus, regardless of whether you have a technical or non-technical background, you can easily avail a personal loan from renowned NBFCs like Bajaj Finserv.

Criteria You Must Fulfill

There are certain criteria that you must fulfill before you apply for a personal loan in Delhi, irrespective of whether you have a technical background or otherwise. A loan acts as the seed capital to build and then expand your business.

Before Applying For Personal Loans, Ensure That You –

Are between 23 to 55 years of age.
Have a business vintage of at least 3 years.
Have submitted all income tax returns for the last financial year. At least one year’s IT returns must be presented for quick loan disbursal.
Have submitted the audited report of your business’ previous year’s turnover. The audit must be carried out by a certified chartered accountant.

Once you have ensured that your documentation is in proper shape, there is no reason why your application for a personal loan in Delhi should be rejected. Always ensure your previous and outstanding debts are settled and never take too many loans simultaneously.