Key Factors You Need to Know Before Applying for Aditya Birla Personal Loan

Curious to avail a personal loan but don’t know which lender offers the best deal? Well, there is not only one but many reputed lenders out there that offer you a deal, which you can’t resist. And, Aditya Birla personal loan is one such name. If we talk more about the same, this renowned lender with its best of services always meet the varied needs of one and all. This is the reason that why people are always eager to know to avail a loan from the same. So, without wasting any time further, let’s let’s get into the detail and talk more about the same in the article below:

Interest Rates: Any loan journey begins from knowing the personal loan interest rates first. Currently, this lender is offering the loan to the applicants at a rate of 14% per annum and goes up to 26% per annum. With this range, it is easy for an applicant to enjoy a hassle-free journey as the lower rates you have the better it is for you in the long run. Yes, the rates will play an integral role in the overall journey of an applicant. So, it is better that your rates should be lower, as then only you would be able to enjoy everything.

EMIs: Talking about EMIs, make sure that your monthly installments should be pocket-friendly so that you can easily repay your loan in the future. The affordable EMIs you have , better it is for you. With easy EMIs, less burden will be there on your shoulders as far as loan repayment is concerned. In order to know the calculation of your monthly installment, all you need to do is just calculate your EMIs via using a personal loan EMI Calculator. This magical device with its well-designed algorithms allows you to know the exact values of not only your EMI but Interest Outgo as well.  

This device soon after taking into account- loan amount, interest rate and tenure give you the values in the least time frame so that you can easily take a calculative decision.

Processing Fee:Talking about the charges, your personal loan online journey is incomplete without the same. At the time of availing the loan, there are certain charges that you need to bear. And, giving processing fee to the lender is one of them. Talking about the fee, in case of a personal loan online, it stands at 2% of the loan amount. At the time of availing a loan, a borrower has to pay the same so as to enjoy a hassle-free journey.

Credit Score: Make sure that your credit score should not be less than 700 so as to enjoy the best deal. For a better deal, your score should be 700 or above because in such a case, you would be able to enjoy your journey.

Eligibility: Talking about personal loan eligibility, the minimum age of an applicant should be 23 years and maximum should be 60 years at the time of loan maturity. Not only this, the net monthly income of an applicant should be Rs.25,000 while availing an Aditya Birla personal loan online. 

Documents: Apart from all these things, make sure that one should have a complete set of documents ready. Yes, proper documentation is important in order to enjoy the best of the journey.