In turning our dreams into reality, money plays a crucial role. On particular occasions, there are moments when a shortage of money serves as a hurdle, but one should note that there are many ways in which we can solve these financial problems. Taking a loan is one such easy solution. Personal loans cover a large portion of all loans. It is an offer of immediate financial relief, primarily due to the ease of availability and flexible options. But after a borrower has taken out a loan, one more word exists in their lives, i.e. From EMI. For many, this word may be new, so let’s grasp it from the basics.
Many EMI calculators are available online and one of them is the IIFL Bank Personal Loan EMI calculator. When you measure EMI with the cost-free IIFL Bank personal loan EMI calculator, you will be amazed by its ease of use and accuracy. The IIFL personal loan EMI calculator is user-friendly because of the fashionable technology. You just need to enter the loan sum you are looking for and then evaluate the available deals based on the monthly EMI with the IIFL Bank personal loan EMI calculator.
Benefits of using the Personal Loan EMI Calculator of the IIFL Bank
The IIFL Bank personal loan EMI calculator also shows the data graphically to make it simpler for users. This has made it attractive and easier for individuals to grasp the technical aspects such as key pending, time left, interest rate, etc. This feature is a feather on the cap of the EMI calculator.
- Fast Solution- It will take hours and hours to measure manual EMI. But you can get the results in a few seconds with only a few clicks if you measure EMI with the IIFL Bank personal loan EMI calculator. One of the main advantages of an online EMI calculator is that it offers a particular result depending on the volume of the loan, repayment tenure, and interest rates.
IIFL Bank Personal Loan
- It’s very convenient to use a personal loan for days now as one can apply for IIFL Bank personal loan online. This has made the collection of personal loans easier for individuals.
- You will find a wide number of lenders on the market for personal loans. Some of the key features of one of the top personal loan lenders are listed below, i.e., IIFL Bank, take a look:
- The IIFL Bank personal loan can be used by both the salaried and self-employed.
- The IIFL Bank personal loan interest rate starts from 13 percent, although it may vary based on factors such as CIBIL score, current employment status, net salary income, etc.
- You can receive a personal loan from IIFL without any worries because they have outstanding customer support and if you fulfill the eligibility of the IIFL personal loan, the loan amount is transferred in a short period into the bank account.
- As mentioned before the online application for IIFL personal loan is easy and hassle-free than others, you can just go fully digital, even with the submission of the paper. If you go for the IIFL personal loan online, you will get additional benefits such as a low-interest rate.
- IIFL’s personal loan customer service team is so supportive that they can assist you if you face any loan issues.
- Repayment of the IIFL personal loan varies from 1 year to 5 years.
Criteria of IIFL Personal Loan Eligibility
IIFL personal loan online also provides the loan application tracking facility through which you can quickly understand your loan status for IIFL. Among the most important main elements of a personal loan are the eligibility conditions. The interest rate, loan approval, and several other factors impact as it decides or cab says.
So, if you want to take advantage of the IIFL Personal Loan, you need to meet its eligibility requirements. However, depending on the consumer profile, the eligibility requirements may vary, but the general criteria for a personal loan are given here:
- Employment: A borrower should be a self-employed person or a salaried person working for a private or public sector corporation, including a central, state-owned company, or local agencies.
- Age: The age of a borrower at the time of application should be between 21 years and 60 years.
- Working Experience: A borrower should have at least 2 years of working experience and the last 1 year must be working in the current organization.
- Income: The applicant must have a minimum amount of Rs. 15,000 per month as net income. If he or she resides in Delhi, Mumbai, Chennai, Bengaluru, Hyderabad, Pune, Ahmedabad, Kolkata, and Cochin, the monthly income should be at least Rs. 20,000.
IIFL Personal Loan Necessary Documents
Depending on many products, the appropriate list of documents can differ. Below is the general list of documents needed for the IIFL Bank Personal Loan acquisition:
- Passport-sized photograph
- PAN Card – for Company/Firm/Individual.
- A copy of any of the documents as identity proof:
- Aadhaar Card.
- Voter’s ID Card.
- PAN Card.
- Driving License.
- A copy of any address proof documents:
- Aadhaar Card.
- Voter’s ID Card.
- Driving License.
- Bank statement of the previous 6 months.
- Last 2 years ITR along.
- Audit Report.
Through the online loan request, IIFL has streamlined its loan process to make it even more convenient for you. You just need to visit the website of the lender or the application (if one has). Nearly every personal loan lender now provides online loan processing and requests to make the personal loan process convenient for the personal loan process.