Online Personal Loans India
In India a lot of customers are now looking to apply for personal loan online. A large set of these customers apply and expect a call back so they can understand how much emi and what are the interest rates they have to pay. Based on the call, they will decide whether they want to go ahead with the personal loan or not and what are the other requirements etc. With technology innovation-most banks loan eligibility calculators are available online now or you can see your loan eligibility by applying at www.deal4loans.com.
So the first hurdle on who to call and how much can a bank give me at that what rate is now click away. Within few minutes one can get online quote for most banks. The other set of process where customer need to sign application form and submit documents is a manual process.
Based on your eligibility bank outsourcing team or executive will come and take your documents and will get an application form signed up. After this Bank will de – dupe your profile with Bank defaulter list and with Cibil. If both of them are okay then they will send an executive to get a personal loan agreement signed. Once the agreement is signed the personal loan is disbursed either by giving demand draft to customer or it is credited directly into customer account. Customer should remember Bank doesn’t ask for upfront processing fee for Personal loans, so if a bank employee or an agent ask for an upfront payment of fee, he is trying to dupe the customer.
Customer should never accept such requests.Before signing the agreement the customer should read the document very carefully and then only sign the personal loan agreement. So in today scenario Personal quote is available online but pure online personal loan is not possible as there are many processes which are still to be done offline. In more developed countries like United States where online verification can happen over social security number- small ticket size personal loans are available. With Smart card being introduced in India soon some pure online loans will be possible.
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