How to get 1 lakh immediately?

 In times of financial urgency or to meet various personal needs, a personal loan can be a helpful solution. If you need a huge amount of money urgently, a personal loan can be very beneficial. While obtaining a personal loan typically involves a process of assessment and verification by lenders, there are certain steps and strategies you can follow to explore the approval process. Here we will explore some ways to get a 1 lakh loan quickly and efficiently, ensuring your financial requirements are met with ease. Please note that individual circumstances may vary, and it is always advisable to assess your own financial situation and eligibility before proceeding with any loan application.

Rs. 1 Lakh Personal Loan Interest Rates and Charges

Description of Charges	Charges
Personal Loan Interest Rate	12% P.A.
Loan Amount	50,000 to 10,00,000
Loan Processing Fees	2 % of the loan-sanctioned amount
Loan EMI per Month	Starting from Rs. 3000*per lakh for 60 months
Loan Tenure	6 months to 60 months
prepayment/foreclosure charges	5% of principal outstanding plus applicable taxes if paid before 6 months of loan disbursal
Late Payment Charges	24% per annum plus applicable taxes

   

How To Get Rs. 1 Lakh Personal Loan

●       Visit the official website of LoanTap or download the app via the app store.

●       Click on a personal loan from the menu and click on ‘Apply Now

●       Select your employment type and select the purpose of your loan

●       Enter the required credentials

●       Submit the PAN Card and required documents

●       After the verification, your loan amount will be disbursed.

Eligibility Criteria For 1 Lakh Loan

Applicant age

At the time of loan application, the applicant's age must be between 22 and 58 years, which is the maximum age allowed at the time of loan maturity. 

Work experience

The applicant must have a minimum work experience of one year with at least two months of stability with the current employer. 

Income

The applicant must have a minimum net monthly salary of Rs. 20,000.

Employer category

The applicant should be a full-time employee with a company, private or public limited corporation, or LLP.

Citizenship

Personal loans are only available to Indian citizens.

Credit score

Most lenders require a minimum credit score of 650 or above to be approved for a personal loan. To improve their credit score, individuals should make timely repayments on existing loans, maintain a low credit utilisation ratio, and avoid defaulting on payments.

Conclusion    

You can obtain a 1 lakh loan swiftly with the right approach and preparation. It's essential to research and compare various lenders to find the most suitable option for your needs. Additionally, maintaining a good credit score and demonstrating a stable income can significantly improve your chances of quick approval. Remember to borrow responsibly and only take on a loan that you can comfortably repay. By staying informed and making informed decisions, you can navigate the loan application process with confidence and meet your financial requirements promptly.

Original Source:- How to get 1 lakh immediately?