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Introduction to Personal Loans in Nagpur

Nagpur, known as the orange city, is one of India's growing metropolitan areas. It is the third-largest city in Maharashtra. The city is considered a commercial hub and has a lot of small businesses. Because Nagpur is a significant trading hub for the nation's orange crop, it is also known as "Orange City."

Nagpur is also proposed as one of the Smartest Cities of Maharashtra, and hence you find here lot of economic activities here. The world's largest hollow Buddhist stupa, Deekshabhoomi, is located in Nagpur. Many businesses and individuals in Nagpur have to rely on personal loans for immediate financing.

lendingplate is one of the most popular lenders in Nagpur. We offer urgent personal loan in Nagpur at affordable interest rates. You can apply for this loan online. Using your laptop or smartphone, you can finish the loan application procedure in a matter of minutes.

Personal Loan EMI Calculator

Want to plan your payments with our personal loan EMI calculator monthly? Get clear numbers in seconds to make smarter borrowing decisions.

Amount
25000
Duration
12 M
Interest Rate
36 %
Monthly EMI

₹2512

Total Interest ₹5144
Total Amount ₹30144

Features and Benefits of Personal Loans in Nagpur

People opt for personal loans during times of emergencies and various other needs. Let’s go through some of the major features and benefits of an instant personal loan in Nagpur: -

Collateral free

Personal loans are unsecured loans. Hence, you don’t have to give any collateral to get loans.

Low Interest Loans

We offer urgent personal loan in Nagpur at reduced rates. Our personal loans start at 12% per annum of interest rate.

Flexible Repayment Tenure

Considering the customer’s convenience, we offer flexible repayment tenure. One can choose to select the tenure of loan repayment between 3 months to 15 months.

Multi-Purpose Usage

The loan we offer can be used for a wedding, debt consolidation, home renovation and any other purpose. There are no limitations to its usage.

No Hidden Charges

There are no hidden charges on the loans we offer. Whatever charges are there we reveal it on an upfront basis.

Eligibility

The personal loans are unsecured loans. Due to this, they don’t require any collateral. Hence, applicant eligibility becomes very important. Here are the eligibility requirements for personal loan finance in Nagpur: -

  • Citizenship: Only Indian citizens are eligible for an instant personal loan in Nagpur.
  • Work Experience: Minimum 1 year of experience is a must.
  • Monthly Salary: The borrower shall have a minimum monthly salary of ₹20,000.
  • Credit Rating: The credit score shall not be less than 750.
  • Age Bracket: The age of the applicant can be between 21-58 years.
  • Occupation: Those working in the private and public sectors, as well as government employees, are eligible.
  • Salary Credit: Your bank account shall reflect salary credit for at least the last 3 months.

Documents

At lendingplate there is a minimal documentation process. Here are the documents required for an urgent personal loan in Nagpur: -

  • Proof of Photo Identity: Driving License, Passport, PAN card, Aadhar Card.
  • Proof of Address: Utility bill, Rental agreement, home loan statement.
  • Proof of Income: Six-month salary slips or bank statements, Form 16.
  • Job Continuity Proof: Appointment letter from current employer
  • Mandatory Documents: Filled loan application form, Passport size coloured photograph.

 

How to Apply for a Personal Loan in Nagpur?

The online loan process for an instant personal loan in Nagpur saves a lot of time. Here is how one can apply for a personal loan finance in Nagpur through lendingplate.

Verify Loan Eligibility

There are certain minimum standards that you need to qualify for if you want to apply for a personal loan. Check if you meet those standards. Then only you can proceed with the application process.

Begin Your Application

After checking your eligibility for an instant loan in Nagpur, you can then start your loan application online. You must complete the online form and submit it with your information.

Submit Documents

After submitting the application form, you also need to submit the documents. There are some basic documents required for loan processing which you need to submit online.

Verification

We have a team of experts who verify the application and documents. After verification, they give the final loan approval.

Quick Disbursal

As soon as the loan is approved, we provide prompt disbursement. The money will be credited to your bank account upon loan approval.

Interest Rates and Charges on Personal Loans in Nagpur

We at lendingplate maintain complete transparency with our interest rates as well as other charges mentioned below –

Charges Details about the Charges
Processing Fee 1% - 5% of loan amount
Conversion Fee 1 - 5% of the amount
Interest Rate 12% - 36% per annum
Foreclosure 5% of the amount [Nil when prepaid on or after your]
Mandate Return Fee 500/- [inclusive of GST]

lendingplate’s Personal Loan Available Across India

Frequently Asked Questions

Salaried borrowers should have a minimum monthly income of ₹20,000 to apply for a personal loan.

Without a credit score, loan processing is not possible. You shall have a minimum credit score of 750 to be eligible for an instant personal loan in Nagpur.

It won’t take more than 24 hours to process the loan.

Failure to repay the loan can lead to penalties. Also, your credit score will be affected, and you won’t get the loan so easily.

Opting personal loan for some purposes like starting a business, home renovation, education expenses, etc, can get you tax benefits.

Only Indian citizens can apply for personal loans in Nagpur.

The maximum loan amount you can expect from lendingplate is ₹2.50 lakhs.

Before applying for a loan, you can use a personal loan eligibility calculator to calculate if you are eligible or not.

Personal Loan as per Budget

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Personal Loan as per Salary

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