Your Dreams, Our Funds!
Approve in 2 Hrs* | Quick Disbursal | Lowest Interest Rate*
Personal Loan @ 10.50%*
Personal loans provide quick funds without collateral, suitable for various needs. Flexible repayment terms, competitive rates, and online applications enhance convenience and affordability for borrowers.
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04 Benefits To Choose Personal Loan
At Aviira Finserv, we ensure a seamless and stress-free loan application process with swift disbursement for our customers. Here are the advantages you’ll enjoy when applying for a personal loan with us:
Attractive Interest Rate*
Quick Loan Approval and Disbursal
No Hidden Charges
Flexible Tenure
Personal Loan Eligibility And Documents
Eligibility Criteria :
Your eligibility for a personal loan depends on various factors, including your credit score, income, employment history, and existing debts. Lenders typically evaluate these factors to determine your creditworthiness and the terms of the loan they can offer you. Here are some key factors that can affect your eligibility:
- Age: You should be at least 21 years old at the time of applying for the loan and no more than 65 years old at the end of the loan tenure.
- Employment: You need to be salaried or self-employed with a stable source of income.
- Income: Your minimum monthly income should minimum 21000 rupees, ensuring your ability to repay the loan.
- Credit Score: While a minimum 650+ credit score enhances your chances of loan approval.
Documentation:
Identification Documents:
- Aadhaar Card
- Passport
- Voter ID Card
- Driver’s License
- PAN Card (Permanent Account Number)
Proof of Address:
- Aadhaar Card
- Passport
- Voter ID Card
- Utility bills (electricity bill, water bill, gas bill) – preferably recent
- Ration Card
- Rent Agreement
Proof of Income:
- Salary slips or salary certificate for the last few months (usually covering the last three to six months)
- Form 16 (for salaried individuals) or Income Tax Returns (ITR) for the last two to three years
- Bank statements showing salary credits for the last six months
- Business proof (for self-employed individuals)
- Income Tax Returns (ITR) and audited financial statements (for self-employed individuals)
Employment Verification:
- Employment verification letter from your employer or appointment letter
- Contact information for your employer (name, address, phone number)
Bank Statements:
- Bank statements for the last six months to verify your income and account transactions
- Bank statements for the last six months to verify your income and account transactions
Credit Information:
- Credit Report (though the lender might pull this themselves)
- Credit Report (though the lender might pull this themselves)
Photographs:
- Passport-size photographs (usually 2 to 4)
Personal Loan : Rate of Interest and Charges
Interest Rate : 10.50% to 16% p.a.*
Interest rates for Personal Loan are competitive and vary based on factors such as the loan amount, tenure, and applicant's creditworthiness.
Loan amount of up to Rs. 40 lakh
Banks and NBFCs offers Loan amount of up to Rs. 40 lakh
Processing Fee : 0.5% to 4%*
Banks & NBFCs nominal processing fee at the time of loan approval. This fee covers the administrative costs associated with processing your loan application
Prepayment Charges : 0.25% to 2%*
Prepayment charges may apply if you decide to repay the loan amount before the completion of the loan tenure. However, some loan products offer prepayment flexibility without any additional charges.
Late Payment Fees:
In case of delayed payments, a late payment fee may be levied as per the terms and conditions of the loan agreement. It is advisable to repay your loan installments on time to avoid any penalties.
Loan tenure of up to 7 years
Yes, many Personal loans offer repayment terms of up to 7 years, which can help spread out the cost of the vehicle over a longer period, resulting in more affordable monthly payments
Avail a Personal Loan in Simple steps!
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Questions & Answers
What are the typical eligibility criteria for a personal loan?
Typical eligibility criteria include a stable income, good credit history, and a low debt-to-income ratio. Lenders also consider factors like employment status and age.
How does the interest rate affect the cost of a personal loan?
The interest rate determines the cost of borrowing. A lower rate means lower monthly payments and less interest paid over the loan term, while a higher rate results in higher overall costs.
What are the consequences of defaulting on a personal loan?
Defaulting on a personal loan can lead to severe consequences, including damage to credit scores, collection efforts by lenders, and legal actions such as wage garnishment or asset seizure. It’s crucial to communicate with the lender if facing difficulties in making payments.
Aviira Finserv
Your financial ally, simplifying loans with tailored solutions for your every need. Your success, our priority.