You can get a personal loan for a variety of needs, like

• Home Refurbishment
• Wedding
• Holiday
• Medical Expense
• Credit Card Payment
• Shopping
• Investments
• Used car or bike purchase
• Rental Deposit
• Starting a business

Your eligibility is determined and is calculated on following basis

• The company where you work. Each bank and NBFC has categorized Indian companies and have rated them as Cat A,B,C so on. The higher the category of the company where you work, the better shall be your eligibility.

• Loans and credit card out-standings that you already have

• Your take home or net salary

• Credit score. A good credit score is necessary to have better eligibility.

Your eligibility is determined and is calculated on following basis

• Processing fee is more or less fixed for most lenders and ranges between of 1,000 to 2.5% of loan amount.

• Prepayment or foreclosure varies from lender to lender.

• Credit history of the applicant along with his/her repayment history

• Applicant’s net annual income

• Credit score of the borrower

• Relationship with the bank

• Current employer’s reputation

• Stable source of income

• Debt-to-income ratio

• Individual negotiation skill

• Salaried professionals can get minimum of 50K to 30L as personal loan. However, the final sanction takes place after considering your net salary, CIBIL score and other eligibility criteria.

• You can choose any tenure between 12 – 60 months to repay your loan.

• Loansmojo is a neutral platform and has multiple banks and NBFCs on its platform. Each lender has a specific policy to sanction loan to the same customer. We match your requirements with the most appropriate lender so that you secure your loan easily and faster.

• Loansmojo help individuals with low CIBIL, Bad CIBIL score or those who have no CIBIL score at all.

• In many cases applicant’s company is either not listed with bank or is listed in negative industry. Relationship with banks helps these issues to be resolved in applicant’s favor. Loansmojo tries to address these issues in many cases by managing such subjectivities.

• Apply online on Loansmojo.com

• We will analyze your application and match it with best lender (bank).

• Submit required documents and relax. Your money shall be disbursed in 2-3 days !

• Yes, many banks restrict you to close your loan unless 6-12months and some banks allow after 1st EMI. Banks charge anywhere between 2-6% of remaining principal amount to foreclose your loan.