An easy way to avail a Personal Loan
Nowadays, availing a personal loan in India has become very simple and straightforward with the advent of online platforms like Afinoz. Customers can now apply for personal loans online, by simply answering a few questions (as given below):
- Your professional engagement (whether salaried or businessman
- Work experience, salary, total EMI of existing loans [if, any]
- Date of birth
- Mobile number
- Email ID
Answers to above questions allows our online algorithms to check your eligibility in terms of amount and the duration or tenure for which you can avail the personal loan from various banks / financial institutions.
After the initial checks the customer is presented with the following:
- List of Banks/NBFCs – The system presents the customer with the list of Banks/NBFCs who are willing to offer a personal loan to him / her. Please bear in mind that the results which are presented are based on the veracity of initial information provided to Afinoz. Any change in the customer’s information later on may also change the list of the banks extending personal loan to you.
- Selecting a bank – Along with the list of banks / NBFCs the customer also receives the following details against each bank / NBFC:
- eligible amount
- interest rate applicable
- tenure of the PL
- Equated Monthly Instalment amount
- Processing Fees
- An option to apply.
Since all the information is present in front of the customers, they can make a reasoned decision and choose the bank / NBFC they prefer to avail the loan from.
- Providing your personal information [Step #1] – At this stage of the process, our customers are required to provide basic details such as name, gender, marital status, address, and education.
- Employment details[Step #2] – The customer is prompted to share the next set of information which pertains to his / her employment history such as employer name, address, total work experience, city, state and the pin code.
- Employment details[Step #3] – Customers are asked to provide details of at least two referrals. The information sought is referral’s name, contact number, address, type of loan he or she may be interested in availing and the total amount required.
- Documents [Step #4] – At the final stage of the online personal loan application submission, the customer is asked to upload documents in support of his / her loan application. Typically the customer has to upload PAN card, identity proof, residential proof, 6 months bank statement, passport size photograph, salary slips for 3 months and latest 2 years of form 16 and any other document as per the bank’s existing guidelines.
Once the customer submits the loan application a summary report is presented to the customer wherein a customer can modify or upload a document. After carefully verifying the information provided, the customer is given a unique application in an alpha-numeric format such as XXXXX686473.
Within in minutes the customer gets the best deal available in the market and can track his / her loan application on real time basis through our system.