- APPLY FOR INSTANT PERSONAL LOAN -
A personal loan is a type of unsecured or secured financing where you borrow a lump sum of money from a lender (like a bank, credit union, or online provider) and repay it in fixed monthly installments over a set period, typically including interest. Unlike credit cards, which offer revolving credit, personal loans provide one-time funding for a specific amount, making them ideal for one-off expenses.
AVA Loans helps you to get an urgent personal loan in India in a minimal time, reducing the path between you and your dreams. We are assisting the needful in getting a personal loan online and offline with the lowest interest rate as per your requirement
The eligibility criteria for personal loans are minimal, with the requirement to meet the following:
Note: **The minimum salary requirement for a personal loan will differ depending on the profile of the applicant.
The basic documents required for personal loan online approval are:
| Types of Personal Loan | Description |
|---|---|
| Personal Loan for Wedding | Make your wedding grand with low-interest personal loan for wedding! |
| Personal Loan for Travel | Go travel and explore the world with our personal loan for travel at affordable EMIs. |
| Personal Loan for Medical Emergency | Manage urgent bills with our personal loan for medical emergency – quick approval & speedy disbursal! |
| Advance Salary Loan | Struggling with funds before payday? Get an advance salary loan instantly! |
| Personal Overdraft Loan | Receive additional money at any time through a convenient personal overdraft loan. |
Interest rates for personal loans, which start from 10% to 24% per annum. It depends on factors such as the credit score, income, loan amount, and lender’s policies.
If you want to pay off your loan early, lenders may charge a prepayment fee between 2% to 5% of the outstanding loan amount. But some lenders allow partial prepayments without a fee after a specific period.
Bouncing an EMI payment can result in a late payment fee of 2% to 3% per month on the overdue amount. It might affect your credit score.
There are some steps to calculate the cost of Personal Loan:
- Total interest paid over the loan term
- Processing fees
- Prepayment or late fees (if applicable)
A simple formula:
Total Cost = (EMI * Loan Tenure in Months) + Fees and Charges
