Types of Personal Loans

Personal loans are versatile and can be used for various purposes. Here are some common types:

• Two-Wheeler Loan: A personal loan for purchasing a new or second-hand two-wheeler.
• Travel Loan: Ideal for financing travel or holiday expenses.
• Mobile Loan: For buying a new or second-hand mobile.
• Marriage Loan: Covers wedding-related expenses.
• Home Renovation Loan: Funds home renovation projects.
• Education Loan: Supports tuition and higher education costs.
• Consumer Loan: For purchasing consumer durables.
• Car Loan: Although typically secured, some lenders offer personal loans for car purchases.
• Medical Loan: Covers unexpected medical expenses.

Uses of Personal Loans

Personal loans are also useful for:

• Starting a Business: Can be used to fund startup costs, such as inventory or equipment.
• Emergency Expenses: Ideal for unexpected expenses like car repairs or emergency room visits.

Documents Required

Here’s a quick checklist of documents needed for an instant personal loan application:

• PAN Card for photo ID proof.
• Latest Bank Account Statement showing salary credited.
• Aadhaar Card (optional).
• Permanent Address Proof (ONE of the following: Passport, Driver’s License, Utility Bill, Voter ID Card).
• If your current address differs from your permanent address, you can submit any one of the following as proof.
• Passport Size Photo.

Once your documents are verified and approved, we process your loan, and the disbursal is credited directly to your bank account.