After 2020 being a challenging year, we are eagerly waiting for the new year and hoping to have a great one ahead. Along with new year resolutions, we all have dreams to accomplish in the new year, like, buying a car, a foreign tour, or maybe an expensive gift for your loved one.
Dreams usually have no boundaries, but your finances do. You can’t keep waiting to live your dreams if you don’t have enough money at your disposal. And, if the inadequacy of funds is putting your dreams to a standstill, a personal loan should be your way out for it.
What Is A Personal Loan and How is it Different from Other Loans?
A personal loan is usually a multi-purpose loan. Unlike other types of loans, it is an unsecured form of a loan, and the processing of this loan is done at a faster pace. The amount is paid back in installments, the amount of which usually depends on your income sources and the amount of debt you already owe. By filling in your necessary details, you can quickly calculate your EMI amount using the personal loan EMI calculator.
Find below a few reasons why you should choose a personal loan to fulfill your high-end dreams:
Flexible Repayment Tenure with EMI Option
The tenure and the number of installments are fixed while considering your other financial commitments. You’re not burdened all of a sudden with the repayment of the amount. The personal loan’s primary benefit is that it doesn’t drag you into distress, and you can comfortably repay the amount.
Competitive Interest Rates
The interest rates for personal loans are usually lower than the other types of loans. You can easily calculate your installment amount and interest rate as per your financial record using a personal loan EMI calculator.
Loan without Collateral
Generally, while planning to borrow money via loan requires pledging of some collateral as a security. Sometimes, due to the non-availability of collateral, you step back from taking a loan. Unlike other loans, personal loans do not have any collateral requirements, thus putting off the hurdle of availing loans to fulfill your dreams.
Higher Loan Amount
A substantial amount of loan can be availed via a personal loan. The amount might vary depending on the bank from whom the loan is being taken. A standard amount starts from Rs 50,000 and might go till Rs. 15-20 lakhs. You can comfortably work towards achieving your long pending dreams without additional burden.
Swift Disbursal with Minimal Documentation
The processing of the amount is quicker than the other sources and requires minimal documentation. In addition to this, it just needs to know your financial statement such that the amount of installments can be calculated in a better way, and it doesn’t seem to be burdensome.
Personal Loan: A Perfect Solution to Fulfil Your Dreams
No one should let their most cherished dreams take a backseat due to lack of funds. Like it is said, money is not everything, but a few goals can be fulfilled only with the help of money. And, renowned banks like Axis Bank provide personal loans at affordable rates online to give wings to your dreams. Personal loans provide you with all benefits and do not put an additional financial burden. You just need to pay out the installments along with interest at regular intervals. Finance shouldn’t be a hindrance in the process of following your dreams.
Bring about your dreams by signing up today!