Turn your dreams into reality with a Personal Loan from OMLp2p. This loan is useful if you have a family need to meet or complete the home renovation that has been pending. With an OMLp2p Personal Loan, you can do it all. You can borrow up to Rs. 2.5 lakh and get loan approval on it with minimal documentation. Fulfil our easy-to-meet eligibility parameters and basic documentation process to avail the money you need. With our flexible tenors ranging up to 12 months, repay your loan as per your convenience. Our Low EMI personal loan is available for salaried professionals in India at attractive interest rates of 11.49% p.a.
All salaried individuals can get a loan from us. Check if you are eligible below:
- Age: The borrower's minimum age should be 21 and maximum should be 60
- Income: Minimum net income of 1.5 lakhs per month
- Residence Type: Self, parental or rented
- Locations: 72 Cities- Tier 1 and Tier 2 Cities & Others
- Employment Type: Only salaried individuals are eligible to apply for a loan.
The documents that you will need to submit when applying for a Short-term loan are as follows:
- PAN Card
- Proof of Residence: Latest electricity bill
- Proof of Income: Salary slips for the most recent 3 months
- Bank statements for the last 3 months (Salary credits should reflect by company's name)
Loan processing fee is charged at the time of loan disbursal. Processing fee is 3% (2% of the loan amount + 1% towards Insurance) and applicable taxes. Fixed documentation charge of Rs. 1,000 is charged from each borrower. The total amount is deducted from the disbursed amount.
Personal Loan FAQs
- Is it a good idea to get a personal loan?
Personal loans can be an ideal solution for whatever purpose: home renovation, family need to meet, medical emergency, etc. A personal loan can be your solution to meet the immediate financial requirements as they are easy-to-get, fast in disbursal and require no collateral.
- How to get best rate for the personal loan?
The best personal loan differs from borrower to borrower's credit profile. A credit profile includes the credit score, monthly income, employer, employment type and others. All the above factors are considered to find the best personal loan.
- Can taking personal loan impact your credit score?
Personal loans can help improve your credit as long as you make consistent, on-time repayments. Your credit score will be hurt if you pay late or default on the loan.
- How long does it take to get approved for a personal loan?
Due to digitisation, personal loan approval has become quite fast. However, the disbursal could take a period of 5-7 days due to the documentation process. Disbursement can happen within a day if all required documents are provided along with application.
- Can you pay off a personal loan early?
Of course you can pay off a personal loan early. This is known as prepayment of a personal loan. This is however subjected to T&C mentioned on platform.
Fulfill your financial need with OMLp2p. Apply for an online personal loan at low interest rates and get instant approval.