Personal Loan in Delhi

A personal loan is an-all purpose loan for your own personal use. It could be for any expenses such as funding holidays, purchase of consumer durables, medical expenses, wedding expenses, buying jewellery, down-payment for a home loan, transfer of credit card outstanding, or sudden business requirement. Loans are available from Rs. 20000 to Rs. 20 lakh for any purpose depending on your requirement.

There are numerous opportunities to avail a loan and financing institutions have spared no effort to push their services. This brings in a situation where an individual is made to believe that he or she requires a loan. With this mind frame people tend to take loans without assessing the necessity for it and think of ways to spend it after availing of it. One should always determine the cause for opting for a loan and get one only if there is an absolute necessary.

“THE COMPANIONS”, a Delhi based company which is an associate of Financial Services with Market Leading Banks fulfilling requirements of Personal Loans and Business loans of individuals and companies. Personal Loan / Business loans are an UNSECURED LOAN and NO COLLATERAL or GAURANTOR is pledged or taken. The loan can be availed for any reason e.g. Marriage, Education, Investments, Vacations, Construction or Renovation etc. The Companions provide assistance in Delhi.

Loan can be availed ranging from 1 Lac to 200 Lacs.

HSBC Bank India offers personal loan scheme from the EMI (Equated Monthly Installment) is lower in the first year and higher in the subsequent years. This is probably to reduce the repayment burden on you at a time when you clearly need money for some purpose.

Another feature is that you can get a personal loan sanctioned for a higher amount, use a lower amount and pay interest on the amount actually used. Let’s say you apply for and get approval for a loan of Rs.2 lakhs but actually use only Rs.1.5 lakhs, you’ll have to pay interest on only 1.5 lakhs and not the full amount of personal loan sanctioned.

The HSBC Bank Personal loan is available to salaried/self employed persons between 21 years and 58 years of age. The upper limit for Central Government employees is 60 years while it is 65 years for the self employed. Salaried individuals need to be in continuous employment for atleast 1 year while self employed people need to be in employment for atleast 2 years.

To qualify for a personal loan, the following criteria apply

• Applicant can be a salaried / self-employed individuals and should be a resident Indians.

• Professional self-employed individuals eligible for a personal loan are Doctors, Chartered Accountants, Cost Accountants, Company Secretaries, Architects, Engineers and Management Graduates.

• The minimum age of the Applicant / Guarantor should be 21 years for salaried and self-employed individuals.

• The maximum age of the Applicant / Guarantor at loan maturity should be 58 years for salaried individuals (60 years for Central Govt. employees) and 65 years for self-employed individuals.

• The minimum years in continuous employment / business should be 1 year for salaried individuals and 2 years for self-employed individuals.

• The minimum net annual income should be Rs.75,000 p.a. (including co-applicant’s or applicant’s income) for salaried and self-employed individuals. (Different banks have different income criterias).

• The minimum stay at current residence should be 1 year for salaried and self-employed individuals.