Unsecured Personal Loan

Unsecured Personal Loan

Only For Salaried Customer
Loan Amount
  • 15 to 20 Lacs & above
  • 10 to 15 Lacs
  • 5 to 10 Lacs
  • 1 to 5 Lacs
Rate Of Interest
  • 10.99%
  • 12.50%
  • 13.50%
  • 14%
Processing Fees
  • 1999/-
  • 1999/-
  • 1%
  • 2%

The above rates mentioned are only for limited period. These rates may vary from bank to bank and rates would be solely decided at the discretion of the bank.


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Unsecured Personal Loan is issued and supported only by the borrower's credit worthiness, rather than by a type of collateral. An Unsecured Personal Loan is one that is obtained without the use of property as collateral for the loan. Borrowers generally must have high credit ratings to be approved for an Unsecured Personal Loan.

Because an Unsecured Personal Loan is not guaranteed by any type of property, these loans are bigger risks for lenders and, as such, typically have higher interest rates than secured loans (such as a mortgage). Although the interest rates are higher, the rates may still be lower than those of credit cards. Unlike mortgage loans, the interest on an Unsecured Personal Loan is not tax deductible.

An Unsecured Personal Loan may be a good option for individuals who do not have enough equity in their homes to be approved for a home equity loan. An Unsecured Personal Loan may have a fixed interest rate and be due at the end of a specified term, or it can exist as a revolving line of credit with a variable interest rate. You can use Unsecured Personal Loan as per your convenience without being monitored for the actual end usage.

  • Our expertise to get u the right Banks / Institute to fulfill your requirement.
  • Loan repayment in flexible tenures from 12 months up to 60 months.
  • No collateral/ guarantor / security required.
  • Speedy approvals
  • Attractive Rate of Interest
  • Special Interest Rate for professional Doctors/ CA & Architect.
  • Minimum/Hassle free Documentation.
  • Funds available for business expansion, working capital, child's education or home renovation.
  • Convenience of doorstep service.

There are several steps in the Unsecured personal Loan process. Here are the steps in brief:

  • Application form & Document submission
  • Cibil report check
  • Residence verfication
  • Office verification
  • Eligibility calculation
  • Personal Discussion
  • Credit decision
  • Signing of agreements and submitting post-dated cheques
  • Disbursement

SELF EMPLOYED INDIVIDUAL

  • An Indian Resident
  • You should be in business for a minimum of 3 years.
  • You should be self employed Minimum 24 to maximum 65 years of age.
  • Your current place of residence should be occupied for a minimum of 3 years in the city.
  • You should have residence or office owned

SELF EMPLOYED PROFESSIONAL

  • An Indian Resident
  • You should be in business for a minimum of 3 years.
  • You should be self employed Minimum 24 to maximum 65 years of age.
  • Your current place of residence should be occupied for a minimum of 3 years in the city.
  • You should have residence or office owned

Salaried

  • You should have 3 years work Experience.
  • Your Minimum age should be 24
  • Your maximum age should be 58/60 at the time of closer of the loan.
  • You should have Minimum Rs 20000/- Net Salary

To qualify for a Unsecured Personal Loan, most of the lending institutions in India require you to be:

Documents Salaried Self Employed Properitorship Firm Self Employed Partnership Firm Self Employed Pvt Ltd / Ltd
Application Form With Photograph Duly Signed Personal Loan Personal Loan Personal Loan Personal Loan
Clear Pancard Copy, (Applicant & Co-Applicant) Personal Loan Personal Loan Personal Loan Personal Loan
Latest Residence proof (Applicant & Co-Applicant) Personal Loan Personal Loan Personal Loan Personal Loan
Latest Office Proof (Applicant & Co-Applicant) Personal Loan Personal Loan Personal Loan Personal Loan
Last 3 Months Salary-Slips Personal Loan Personal Loan Personal Loan Personal Loan
Last 12 Months Bank Statements Personal Loan Personal Loan Personal Loan Personal Loan
Form 16 / Income Tax Returns Of Last 3 Yrs Personal Loan Personal Loan Personal Loan Personal Loan
All Loan Sanction Letter If Any Personal Loan Personal Loan Personal Loan Personal Loan
Business Profile Personal Loan Personal Loan Personal Loan Personal Loan
Proof Of Business Existence ( Gumasta License , Sales Tax Certificate , Form 26AS , ) Personal Loan Personal Loan Personal Loan Personal Loan
Last 3 Years Income Tax Returns With Computation Of Income Personal Loan Personal Loan Personal Loan Personal Loan
Last 3 Years CA Certified / Audited Balance Sheet And Profit & Loss Account Personal Loan Personal Loan Personal Loan Personal Loan
MOA / AOA Personal Loan Personal Loan Personal Loan Personal Loan
Partnership Deed Personal Loan Personal Loan Personal Loan Personal Loan
Company Pancard Clear Copy Personal Loan Personal Loan Personal Loan Personal Loan
Shareholding Pattern On Letterhead Personal Loan Personal Loan Personal Loan Personal Loan
Sundry Debtor & Creditor List Last 1year Personal Loan Personal Loan Personal Loan Personal Loan
Personal Loan Eligibility Calculator

Equated Monthly Installment - EMI for short - is the amount payable every month to the bank or any other financial institution until the loan amount is fully paid off. It consists of the interest on loan as well as part of the principal amount to be repaid. The sum of principal amount and interest is divided by the tenure, i.e., number of months, in which the loan has to be repaid. This amount has to be paid monthly. The interest component of the EMI would be larger during the initial months and gradually reduce with each payment. The exact percentage allocated towards payment of the principal depends on the interest rate. Even though your monthly EMI payment won't change, the proportion of principal and interest components will change with time. With each successive payment, you'll pay more towards the principal and less in interest.

In EMI calculator you will be able to analysis the total output of interest you will be paying. In this mechanism you will be able to know the total EMI paid and the interest payable. In EMI Calculator you can also come to know how much interest you will be paying throughout the tenure. To work effectively on EMI Calculator you must be aware of the Loan Amount and the rate of interest. In EMI calculator you will come to know the total interest paid at the end of the Loan tenure.

If you are not satisfied with the calculator output please call us for a personalized solution for your requirement.

Important information

All applications for credit are subject to Banks normal credit approval criteria. Terms and conditions are available on application of every bank in which loan will be applied.

This is an estimate and it is provided for illustrative purposes only and is based on the accuracy of information provided. It does not constitute a quote. To apply for a loan you must complete an application.

The repayment amount and total interest payable excludes Processing fees and Mortgage Insurance / Life Insurance.

If a Variable Rate Loan is selected, the interest rate will be subject to market change throughout the term of the Loan.

Results are based on amortised scheduled repayments and, once any discount or fixed rate period expires, the current variable rate or the variable rate is applied for the remainder of the loan term (unless another fixed rate period is taken).

Creative Finserve will not store the information provided in this calculator.

What is the need for Unsecured Personal Loan?
Unsecured Personal Loan is taken to fill as a short term capital fund for business expansion or for any urgent requirement. Be it a loan for a holiday abroad, your child's education loan, a loan for home renovation, a loan for a marriage or wedding in the family, an emergency or even buying that precious gift for your loved one Unsecured Personal Loan is the best option. Fulfill all your financial needs with hassle free Personal Loans, which are designed to help you live life at the fullest. Unsecured Personal Loan can be obtained with simple documentation, quick processing and speedy disbursal.
Who are eligible for Unsecured Personal Loan?

The general factors taken into account while determining eligibility of Unsecured Personal Loan are Listed below:

1. Age (Min. 21 Year )

2. Maximum 58 age at time of closure of the loan for the salaried

3. Maximum 65 age at time of closure of the loan for the self employed

4. Total work / business Experience 3 yrs

5. Indian resident

Who can avail Unsecured Personal Loan?

Following are the list who can avail for Unsecured Personal Loan which is as follows:

Self Employed Individuals/Professionals

Proprietorship Firms / Proprietor

Partner in Partnership Firms

Director in Private Limited Companies

What all document are required for applying for a Unsecured Personal Loan?

1. Identity Proof

2. Address Proof

3. Bank Statement (Latest 12 months)

4. 3 Months pay slip / Last 3 yrs ITR along with other relevant docs like Balance Sheet, P&L, Audit Report (Certified by a CA)

5. 3 years Form 16 / Business proof

6. All Loan Sanctions Letter

Please refer the complete list of documents on our website in the document section of Personal Loan.

What is the process involved in availing Unsecured Personal Loan?

Following are the list of the documents required for Unsecured Personal Loan:

• Application

• Documentation

• Processing

• Sanctioning of the Loan

• Disbursement

The Process may vary from bank to bank in which they will do your verification of documents, residence, office, and cibil check.

What are the loan tenure options for Unsecured Personal Loan?
Unsecured Personal Loan generally is available for 12 months to 5 Years. It may vary from bank to bank.
How much amount can I borrow in Unsecured Personal Loan?
It mainly depends on your financial profile, credit reputation, the purpose of borrowing the loan and your loan repayment ability. Lenders (Banks and NBFC's) evaluate these factors to consider what the amount of an Unsecured Personal Loan should be.
How to apply for and get a Unsecured Personal Loan?

You just need to visit our website to upload the documents or call our professionals for your Unsecured Personal Loan. Creative Finserve gives you personalize solution and helps you to meet your financial requirement. In fact our professional team will suggest you the right product / services suitable to your requirements.

How is the interest charged/calculated in Unsecured Personal Loan?

In Unsecured Personal Loan interest is calculated on a monthly reducing basis which means interest is calculated on outstanding principal amount left after payment of each installment.

What security/collateral do I have to provide in Unsecured Personal Loan?

In Unsecured Personal Loan no security/collateral is required. This is totally unsecured form of lending where your eligibility is calculated on basis of your income.

Will an existing loan affect my application for Unsecured Personal Loan?

For any loan your eligibility and credit history is taken in to consideration. So in Unsecured Personal Loan Your eligibility is calculated as per your income and the existing loan (obligation).

Who can be the co-applicants for Unsecured Personal Loan?

Generally in Unsecured Personal Loan no co-applicant is required, but if they ask for than any individual who has the ability to repay the loan as per the bank standards residing in the same city can be taken as co-applicant. This requirement varies from case to case and Bank to Bank.

How do I repay the Unsecured Personal Loan?

In Unsecured Personal Loan you can repay it through PDC (post dated cheque's) or ECS which is termed as EMI (Equated Monthly Installments)

Can I pre-pay my Unsecured Personal Loan?

Yes you can pre-pay the loan after repaying a min. of 6 EMI's to 12 EMI's. Foreclosure charges would be applicable as per the banks term and condition.

How much time does it take for the disbursement of the Unsecured Personal Loan?

In Unsecured Personal Loan the disbursement takes Approx 10 working days after all the documents are submitted. Since it is unsecured form of lending it does not require valuation and legal and hence the process is very fast.

Should I compare Personal Loan online?

Comparing Personal Loan online depends on many factors such as your salary, company in which you are working, your obligation (existing loan) etc,. In online approach you will get general comparisons while you can get a personalize solution from Creative Finserve, which will help you with the best rate of interest and services for Personal Loan.

Should I apply Personal Loan online?

There is no process for applying online Personal Loan unless and until you have a relationship with the same bank. Creative Finserve gives you a personalized solution for Personal Loan, so why to confuse yourself with online approach if you can get better rate of interest and maximum eligibility through Creative Finserve.

Who all can apply Personal Loan online?

Customers having online banking can approach their respective banks for Personal Loan through net banking and get information about Personal Loan. Appling online Personal Loan will give you information of your bank, and if you apply through us you will get information about other banks for better rate of interest, foreclosure charges, tenure and processing fees.

What are the drawbacks on applying for Personal Loan online?

Appling online Personal Loan will give you information about particular bank. And if you apply through us our professionals will get exciting offers from other banks for better rate of interest, foreclosure charges, tenure and processing fees.

What is Personal Loan eligibility calculator?

Personal Loan eligibility calculator is a mechanism where you can calculate your Personal Loan eligibility by sharing your information such as your salary/income. This loan eligibility calculator cannot get you the exact loan amount so we recommend you to get in touch with our professional team to serve you better.

How to get best rate of interest for Personal Loan?

Rather than hunting in the market or approaching unprofessional consultants for better offers give your few details and upload your few documents and get a personalized solution for your Personal Loan for better rate of interest in few minutes from our professional team.

How will I get best rate of interest for Personal loan?

Since Creative Finserve has immense experience and tied up with all multinational and private banks, we would be able to guide you and give you the best deal available in Personal Loan.

What is Personal Loan EMI Calculator?

Personal Loan emi calculator is a process where you will be able to come to know the exact Personal Loan emi (installments) which includes principal and interest component according to your requirements.

How can I get personalized solution through creative finserve for my Personal Loan?

We professional at Creative Finserve puts our best effort to give you a complete personalized solution. We take the pain of coordinating with various banks for you to give the best offer and service available in Personal Loan.

How to choose the right bank for my Personal Loan?

Choosing a right bank for Personal Loan is a cumbersome process, Creative Finserve guides you properly according to your requirements and gives you a personalize solution for your Personal Loan.

How I will come to know whether my Personal Loan is sanctioned or rejected?

Once your Personal Loan is sanctioned or rejected you will get a sms alert or call from the bank and if you have applied through us we will coordinate with the respective banks and inform you.

What is preapproved Personal Loan?

If you are a account holder or a credit card holder with multinational or private banks with good track record and healthy transactions banks might offer you a preapproved Personal Loan. Sometimes preapproved loans are costlier affair because banks offer you at higher rate of interest, so we recommend you to call us or upload your documents for personalized solution to get best offers on Personal Loan available in the market.

Is balance transfer of Personal Loan suggested?

It depends upon the current rate of interest of your existing Personal Loan as against the rate of interest available in the market. We recommend you to compare both the offers in our loan comparison calculator or else call us to get a personalized solution for your Personal Loan.

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