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Reach Us
R.C Dutt Road Vadodara-07
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Call Us Now
992 488 7788
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Send Us Email
support@asthamurtifinserv.org
Versatile, easy to avail, hassle-free application process – there are numerous advantages of personal loans. A personal loan is a great way to finance your emergency requirements. Be it an unplanned medical condition or a big-ticket purchase, a personal loan can finance all these requirements.
Let’s take a look at some of the top benefits of personal loans
By quick, we mean within 24 hours in most cases!
Personal loans are unsecured which means that you don’t have to provide collateral to avail them. This is why it is easier to avail personal loans as compared to other loans such as home loans, auto loans, etc.
Be it for an iPhone purchase, a Swiss holiday or for home refurbishing, a personal loan will be helpful without being limited by the use case. Additionally, a single loan can be used for multiple purposes and is not limited such as home loans or auto loans.
If you have a low credit score or are new to credit, a great way to build your score is by availing affordable personal loans and repaying them on time. As you pay your EMIs on time along with the pre-decided interest rate, your credit score will increase.
However, it is important to avail a loan amount that is within your repayment ability. If not, missing EMI payments can be detrimental to your credit score.
One of the biggest advantages of online personal loans is that the documentation requirements are minimal. Loan providers such as Asthamurti finserv require just few documents which can all be submitted application.
Not only this, but the application process is also quite simple keeping in mind customers’ convenience. These loans can be availed in with-in a week loan will disbursed and the amount disbursed can range from Rs. 5,00,000 to Rs. 25,00,000 with repayment tenures of upto 84 months.
Unlike home loans, there is no tax benefit on personal loans generally. However, in certain cases, exceptions may be made such as if the loan is being used for home renovation, purchase of assets such as gold or when used for business expansion.
However, each of these use cases are subject to different terms and conditions and may not be applicable for everyone.
Now that you know some of the benefits of personal loans, here are a few things that will help you choose the best possible loan –