Personal Loans
A personal loan is a credit facility that does not require collateral and is offered by banks and NBFCs to employed individuals.
Benefits
Rapid disbursal ensures timely access to funds.
Simplified application process with minimal documentation requirements.
Flexible use of funds tailored to your needs.
Access to substantial loan amounts, potentially exceeding Rs. 40 lakh based on lender approval.
Eligible borrowers may qualify for pre-approved loans with instant disbursal.
Choose from various repayment terms, with options extending up to 5 years or more.
Eligibility Requirements for Personal Loans
Age: Applicants should be between 18 and 60 years old.
Income: Salaried individuals must have a minimum monthly income of Rs 15,000.
Credit Score: A credit score of 750 or higher is preferred, as it improves the chances of loan approval and may qualify you for lower interest rates.
Employment: Only individuals whose salaries are credited to a bank account are eligible.
Employment Stability: Applicants should have at least one year of continuous employment, with at least six months in their current job.
Residency: Proof of stable residency, typically at the current address for at least one year.
Documentation: Required documents include identity proof, address proof, income proof, and bank statements.
Understanding the Annual Percentage Rate (APR) on Personal Loans
At RupeVal, we connect borrowers with a network of trusted lending partners, offering personal loans with APRs typically ranging from 11.29% to 35%. The actual rate depends on your financial situation and loan requirements, ensuring you get a personalized offer.
Key Features of RupeVal's Personal Loans
Flexible Loan Terms: Loan durations range from a few weeks to a maximum of 60 months (5 years), providing you with options that fit your financial planning.
Competitive APRs: With APRs starting at 11.29%, we strive to offer you the most favorable rates available through our partners.
Transparent Fees: All fees, including processing charges, are clearly outlined in the loan agreement to help you understand the total cost of your loan.
Example Loan Scenario
Loan Amount: ₹5,00,000
Annual Interest Rate: 11.50%
Repayment Tenure: 5 years
Processing Fee: 1.5% of the loan amount (₹7,500)
APR: 12.16%
EMI: ₹10,996 per month
Breakdown
Principal Amount: ₹5,00,000
Total Interest Charges (at 11.5%): ₹1,59,778
Loan Processing Fees (at 1.5%): ₹7,500
Total Amount Paid after 5 Years: ₹6,67,278
Note: Interest rates and processing fees may vary based on the lender's policies and the specific loan product you choose.
Why Choose RupeVal for Personal Loans?
Personalized Loan Offers: We match you with loan offers tailored to your financial profile and needs.
Fast Approval Process: Our streamlined application process ensures quick approval and disbursal.
Secure and Confidential: We prioritize your privacy and security, ensuring your personal information is protected.
How to Apply for a Personal Loan with RupeVal
Submit Your Application: Fill out our easy online application form with your basic details.
Get Matched: Receive loan offers from our lending partners.
Choose Your Offer: Select the loan offer that best suits your needs.
Receive Funds: Once approved, the funds are disbursed directly to your account.
Disclaimer: RupeVal functions as a loan aggregator and provides services on behalf of its partners, who are duly authorized for this purpose.
Office Address
AN 85 Shakuntala Nagar
Rajharsh Colony Kolar
Bhopal, Madhya Pradesh 462042
