5 Frequently Asked Questions When Applying For An Instant Personal Loan In Delhi

Delhi is one of India’s Union Territories and is the country’s capital. Being the political seat of India since the 12th century, today New Delhi is one of the largest and most populous cities in India.

Talking about the lifestyle in tier I cities like Delhi, the cost is higher in comparison to tier II and tier III cities as the city supports a good lifestyle. Hence it is not that surprising to believe that the Delhiites need a personal loan for their unexpected expenses.

If you are planning to apply for an instant personal loan in Delhi, then you need to check out on some of the most frequently asked questions by Delhiites.

1. What are the best possible ways of getting an instant personal loan in Delhi?

There are various ways to get an instant personal loan in Delhi. Some of the best options are:

• Banks
• Credit unions and
• NBFC (non-banking financial companies) and
• Other online lending platforms

But it is always advisable to check your eligibility criteria with your lender and then proceed ahead with the application process.

2. What are the various reasons to avail an instant personal loan in Delhi?

• For your child’s education.
• Pay for any last-minute wedding expenses.
• For any house repairs or renovation.
• To travel around the world.
• To pay off your credit card debt.
• To upgrade any electronic appliances at home.
• To buy a new vehicle or start a new business.

3. How do I apply for an instant personal loan in Delhi?

The common application process followed by most of the lenders are as follows:

• To apply for an instant personal loan in Delhi, you can either visit the official website of your lender or download their official mobile app and apply for a loan.
• Fill in the personal loan application form with requested details.
• Upload the requested mandatory documents for eKYC.
• Submit the application form.

After submitting, you will instantly get to know the result of your application. If you are approved, the loan amount gets credited into your account instantly.

4. How much monthly income should I get to apply for an instant personal loan in Delhi?

To get an instant personal loan in Delhi, the minimum income requirement depends on where you are applying.

Most lenders have a minimum income requirement of between INR 15,000 to INR 20,000. In cities like Delhi, the income limit can be even higher. But when you apply for a loan with a lender like FlexSalary, the minimum income requirement they request is just INR 8,000 per month.

5. How do I get an instant personal loan on a low credit score in Delhi?

Most of the lenders prefer borrowers with a good credit score. The ideal credit score preferred is 750+ and hence it will be easy for you to qualify for a loan with lower interest rates. But if you have a low credit score i.e., below 750, you may get approved for a loan but with a higher interest rate. Not all lenders approve a loan if you have a bad credit score, but there are few lenders like FlexSalary, which approves you a loan even if your credit score is low.

Hence, applying for an instant personal loan in Delhi has undefinable benefits. Because of the ever-growing lifestyle changes in Delhi, many people face financial disturbances. So balance your financial health with an instant personal loan from lenders like FlexSalary, who quickly approve and instantly disburse your loan into your account within a few hours!

I am a free lance writer an mostly write on loans related topics