Lotus Temple, Delhi, India

Personal Loan in Delhi

Over the years, the expenses and standard of living is on a constant high in the capital city of India. Delhi is a concoction of political power, bureaucrats, historical culture, fashion hub and the top media nerve all stay here. Many aspirants migrate to Delhi in search of jobs, education and a better future.

Life in metro cities like Delhi seems great but requires strong financial backing for survival and sustainability. Hence, personal loans in Delhi are gaining popularity. It is a type of personal credit that helps borrowers in Delhi with immediate money. Absence of collateral makes Personal loans even more accessible in times of need.

Many financial institutions and non-banking financial companies (NBFC’s) have emerged in Delhi to provide a personal loan with flexible interest rate and low processing fees. For ease of application, financers and lenders in Delhi have also switched to the online Instant loan app. These digital loan apps offer instant approval to the borrowers with a good credit score.

Personal Loan Interest Rates in Delhi

Personal loans have a fixed interest rate that does not fluctuate like other loans. The interest rate charged over the loan amount is a critical deciding factor for borrowers. Therefore, to balance the financial burden for borrowers in Delhi, personal loan is offered at an affordable interest rate with low processing fees. This ensures easy repayment of EMIs. Personal loan interest rate in Delhi starts at 10.50%. However, the percentage keeps changing based on the norms and regulations of the loan providers. Moreover, borrower’s financial history also plays a significant role to avail an affordable interest rate.

Feature and Benefits of Personal Loan in Delhi

Several financial companies observed the need for personal loan in Delhi. The crowd in Delhi is young, ambitious and aspiring to achieve the best in life. Personal loan truly offers timely financial support to fulfil the monetary needs. Here are the prominent features and benefits of availing a personal loan in Delhi:

Affordable Interest Rate

Personal loan in Delhi offers an attractive rate of interest for both salaried and self-employed individuals.

Collateral Free

Borrowers are not required to mortgage any property or asset against a personal loan.

Calculate EMI in Advance

The EMI loan calculator gives a perception to plan your personal loan amount and repayment tenure with simple scrolling and sliding the loan Emi calculator on the online loan app.

Simple and Easy Documentation

No physical documents are required in online loan application. Loan approval is given on paperless verification of KYC documents.

Quick Disbursal

On 100% verification of the submitted details, the loan amount gets disbursed instantly within 24 to 48 hours.

How to Apply For Personal Loan in Delhi

Who will take a long way when short cuts are available! Will you prefer visiting a bank branch or apply for a loan online sipping a hot cup of tea? The online apps have made loan applications simpler. It suits the fast pace life in Delhi where people hardly find extra time to personally visit the branch for loan application. So, Simply Cash is one latest personal loan app that borrowers can download in their smartphones and proceed with the loan application process.:
  • 1. Launch the personal loan app in your smartphone through Google Play store
  • 2. Register and log in by entering your mobile number or email Id for verification via OTP
  • 3. Check your loan eligibility through loan EMI calculator
  • 4. Fill in the form with Aadhaar card number linked to your mobile number/PAN card/ Driving Licence.
  • 5. Scan your Photograph for ID proof and other documents as required by the financial companies
  • 6. Fill in other personal details like your profession, company address, and income status.
  • 7. Upload all the required documents or schedule an executive for pickup of application from home or office.
  • 8. Application and other documents will be verified immediately, once verified personal loan will be approved instantly.
  • 9. After the application is approved, the loan amount will be transferred immediately into your said account.

Documents Required and Eligibility Criteria

Submission of accurate documents and eligibility criteria of the applicants plays a major role in instant approval of personal loan. In the absence of any required documents or if the eligibility criteria do not match the required standards, your application for personal loan can be rejected or delayed. So, to avoid delayed loan disbursement or rejection check the below mentioned basic requisites and eligibility criteria applicable in Delhi:

  • 1 Identity Proof (Aadhar card/Passport/Driving License)
  • 2 Address Proof (Ration card/Passport/ Electricity bill/Telephone bill)
  • 3 Income Proof (Bank account statement, 6months salary slip, Income tax return file)
  • 4You should be the resident of India
  • 5You should be either salaried or self-employed individual/ businessman
  • 6Your minimum monthly income should meet the criteria fixed by the lender
  • 7You should be at least 21-58 years of age
  • 8Your credit history should meet the criteria set by the lender. Mostly the credit history should be 750 or above. But credit score may vary as different lenders set different credit score as per their standards
  • 9So, these are the minimum and paperless documents required when applying for personal loan in Delhi.


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