When to Choose Personal Loan

When Should You Take a Personal Loan?

When it comes to choosing one funding option over the other, borrowers often get confused. The choice of loan critically depends on whether a person wants to or can provide collateral to avail the credit or not. While secured loans require you to mortgage your property to avail the funds, unsecured loans like a personal loan are available without any security.

You may, thus, avail the same against minimum eligibility criteria & documents. However, as personal loans come with no restriction on usage of funds, it is essential to know when you should avail this loan. Knowing the same helps in managing your finances properly and you may be able to use the funds optimally.

Know When to Choose a Personal Loan:

• When You Have Multiple Debts to Consolidate
  Consolidation of multiple debts into one reduces the hassle of managing several credits. It also reduces the EMI burden as you have to pay only one EMI instead of many. Hence, debt consolidation is one of the reasons you should choose a personal loan.
  Avail the same at attractive rate of interests with Bajaj Finserv and repay in easy EMIs.
• If You Need Funds For Home Improvement
  Personal loan for home improvement is also one of the reasons why you can opt for this credit. Home renovation requires hefty funds, which may stress a person’s finances. Hence, availing personal loan meet the cost of home improvement without straining your income or exhausting your savings.
• To Finance High-End Marriage Expenses
  Avail this personal credit in the form of a marriage loan to meet big-ticket expenses involved in marriages.
• When You Plan To Travel Abroad
  You may also avail it as a travel loan to fulfil your travelling plans in India or overseas.
  Meet the necessary eligibility criteria and know how to apply for the loan, to proceed further with your application and avail the same.

Personal Loan Part-Prepayment and Foreclosure Charges

When is it a good idea to apply for a Personal Loan?

How to Get a Personal Loan?

How to Check Bajaj Finserv Personal Loan Account Statement?

How to Track Bajaj Finserv Personal Loan Application Status?

What Are the Things to Consider Before Applying For a Personal Loan?

How to Improve Your Chances of Getting Approved For a Personal Loan?

What Are the Do’s and Don’ts While Taking a Personal Loan?

Why A Credit Report is Important in Personal Loan Sanction?

What Is the Bajaj Finserv Moratorium Period in Personal Loan?

What is Personal Loan Amortization Schedule?

What is Loan Repayment and How it Works?

What is the Difference Between Co-Borrower and Co-Signer

What is an Unsecured Loan?

What are the Types of Unsecured Loans Available in India?

What is Prepayment Penalty on Personal Loan?

How to Refinance Your Personal Loan?