Instant Personal Loan

Plan to finally get that home renovation done, take that overdue vacation or send your kids for their dream course abroad? But, your current financial situation is making it difficult to plan.

Why not consider applying for a personal loan on Adani One?

Personal loans are unsecured loans offered by various financial institutions that provide individuals with funds for personal use. No collateral is required for approval. Borrowers can then repay through fixed monthly instalments, typically with a fixed interest rate, over a set period agreed upon.

Gone are the days of tedious paperwork and long waits at the bank. With just a few clicks you can get a loan and enjoy the financial support you need.

Adani One Personal Loans is one of the best personal loan providers that will not only give you that financial flexibility but also enable you to make smart yet mindful decisions. They are accessible to many borrowers be it personal loans for self-employed or salaried employees basis their creditworthiness and income. Loan amounts and interest rates vary depending on the lender and the borrower’s profile, with tenures ranging from a few months to several years.

So, do your research, plan your finances and then decide on taking personal loan, one that suits your preferences and is easy to repay without unnecessary strain.

Did you know you can apply for an instant personal loan online?

With advancements in technology, applying for a personal loan online has become more straightforward, efficient, and convenient, eliminating the need for lengthy paperwork or multiple visits to the bank. The process is usually seamless as most of the data is collected through your Aadhaar and PAN, making it hassle-free for you.

We call it a Paperless Personal Loan. All you have to do is check the eligibility criteria, fill out the details of the application online, submit documents such as proof of identity, income, employment, and address, and submit and wait for approval. The lenders then review and approve your loan and share the terms of the loan.

Here’s a quick look:

• Step 1
  Add relevant details
  Enter personal and professional details for eligibility.
• Step 2
  eKYC & Video KYC
  Verify your identity with KYC.
• Step 3
  Review your loan amount and tenure
  Customise your EMI terms at your convenience and confirm.
• Step 4
  Verify loan documents and get funds
  E-sign with Aadhaar to validate and get funds in your chosen bank account.

Thanks to automated systems, many NBFC personal loan providers, and other financial institutions offer instant or same-day approval, making the process seamless. Do check important details like loan terms, interest rates, and repayment schedule before accepting the offer.

Always maintain a good CIBIL/Credit Score: First and foremost, maintain a good credit score at all times as it increases your chances of getting a loan of any kind.

Interest Rates Comparison: Compare the interest rates across different lenders to get the one that suits you.

Applicable Charges: Do look at other applicable charges (from application to processing to prepayment to foreclosure) as they might be quite substantial, making the whole experience of taking a loan unpleasant. Consider the one that has minimum to no applicable charges.

Repayment Capacity: Before taking a loan consider your expenses and other liabilities and then plan accordingly. Repayment is like clockwork and when not done timely could result in hefty fines.

When taking an online personal loan or a loan of any kind, interest rates and other applicable charges are a part of it. These may vary across different lenders/financial institutions.

Interest rates are of two types:

Fixed Interest Rate where the interest rate remains constant throughout the loan tenure, resulting in stable EMIs (Equated Monthly Instalments) and Floating Interest Rate where it fluctuates basis the market conditions leading to variable EMIs. It’s best to do your research and then choose what you want and are comfortable with.

Applicable charges while applying for a loan predominantly include processing fees charged by the lender for processing the loan application, prepayment charges if you pay your loan before the end of tenure, and late payment charges if you fail to pay EMI on time.

Adani One Personal Loan interest rate is varied and so are the applicable charges. For the monthly tenure Flexi Personal Loan product, the annualised interest rate varies between 24-29.95% and the processing fee varies from ₹65 up to ₹5,560 flat. For Personal Loan for Salaried products, the annualised interest rate varies between 17-29.95% and processing fees range from ₹500 to up to ₹13,750 flat (These charges are indicative and may change based on your profile).

Other fees like onboarding, prepayment, and late fees differ basis the loan amount and tenure. It’s best to enquire about the same in great detail while applying for the loan to avoid any surprises.

Personal loans are ideal in a situation where you need some extra funds for an expense that was unplanned or planned but cannot be managed with your current savings/expenses. They are a popular choice and offer several benefits.

Benefits:

1. No Collateral Required: You don't need to provide assets as security while taking a personal loan reducing the risk for borrowers.

2. Quick Disbursal of Personal Loan: Many lenders offer fast approval and disbursal, often within 24-48 hours, making personal loans ideal for emergencies. Adani One Personal Loans take a mere 10 minutes to approve post application. That’s how quick it is!

3. Flexible Usage: Personal loans can be used for a variety of needs. The purpose of the loan is your choice, unlike others. The top 5 purposes include:

• Wedding: Make your dream wedding a reality by opting for a personal loan for your wedding. Don’t let the lack of funds get in the way of your grand celebration.
• Medical expenses/Maternity: Covering unexpected medical bills or elective procedures not covered or declined by insurance.
• Home renovation: To carry out home improvement projects without tapping into other savings.
• Education: This is commonly used by students to pay for tuition, and books, or to cover other education-related costs.
• Travel: Fulfil your bucket list of destinations by taking a personal loan to cover your travel and stay costs. Enjoy your vacation to the fullest, without compromising.
• Debt consolidation: Combining multiple debts into a single loan with a potentially lower interest rate to better manage loans and future repayment.

4. Fixed Interest Rates: Many personal loans come with fixed interest rates, providing predictable EMIs and helping with budget management for the future.

Features:

• Varied Loan Amounts: You can borrow a small amount or a larger sum, depending on your needs and eligibility.
• Flexible Tenure: Repayment periods typically range from 12 to 60 months, allowing you to choose a term that suits your financial situation.
• Minimal Documentation: Personal loans generally require fewer documents compared to other loans, making the process faster than others.
• Online Application: Many lenders offer the convenience of applying for a personal loan online, saving time and effort.

Adani One loans have simple eligibility criteria that make getting a loan a straightforward process.

Personal Loan Eligibility Criteria

• Be an Indian citizen
• Age between 22-50
• Salaried & Self-employed
• Minimum monthly income of ₹10,000

Getting a loan can also be quite a task. There are some of the parameters that must be taken care of to ensure a seamless loan approval. Here are a few things to keep in mind — for a successful personal loan, ensure your credit score is more than 750, you have no other active loans, all your bills are paid to date including utility bills, and all your records are updated correctly.

Before you take a loan, it is essential that you get accustomed to the process of EMI calculation.

Knowing this will help you understand your capacity to repay the loan on time. With options like no-cost EMI and advanced EMI in the market, having a clear understanding of how these EMIs are calculated is important to ensure that you avoid paying more than you have to. The lenders usually calculate the EMI for you and give you clarity on what the amount would be. You can also alter the same basis what works for you. While doing this calculation do consider other charges that might be applicable as well. Processing charges, late payment charges, prepayment charges and others might apply and often differ across various lenders.

Equated Monthly Instalments, commonly known as EMIs is the most common way a loan is repaid. The amount is calculated basis the tenure and the loan amount. The repayment amount comprises a principal amount and interest, which the lender charges for supplying the funds. You get to decide the terms of a loan depending on what is comfortable for you.