The capital city of Tamil Nadu, with an exquisite mix of old-world charm and modern city life, Chennai is colloquially known as "the cultural capital of South India”. However, the city has so much more to explore. With an expanding and upgrading IT sector, increasing industrial development, and growing startup culture, Chennai is a bustling, dazzling city that brings many dreams to fruition.
Living in Chennai can be exciting. However, living the full-blown city life has its own set of challenges. Keeping up with ever-increasing needs in the city can be tough. Managing and streamlining your finances could be a hassle. For instance, you might want to upskill with a course, but it might be expensive, avoid traveling to the office in overcrowded trains, but don’t own a car or even start your own side hustle, but don’t have sufficient capital.
But fret not- there is a resolution to your problems. You can avail of a Personal Loan in Chennai to get your life on track.
To manage finances efficiently, citizens of Chennai can apply for an easy Personal Loan with Poonawalla Fincorp. Poonawalla Fincorp, a leading NBFC and loan company in Chennai, gives you nothing less than the best to meet all of your financial needs.
To understand how a Personal Loan can just be the best remedy for most of your needs, let us first understand what availing of a Personal Loan entails-
A Personal Loan is an unsecured loan given by financial institutions after reviewing several important aspects of the borrower like repayment ability, employment history, level of income, credit health, etc. Unlike other loans, access to a Personal Loan is not tied to its end use. Given this flexibility, a Personal Loan in Chennai can be availed for a variety of purposes ranging from traveling abroad, buying a car to even financing a medical emergency. You are not required to put up any collateral to secure the loan and if you qualify for a loan, the processing is fairly quick.
When you take out a Personal Loan, you avail numerous benefits which are as follows:
Now that you’ve understood the features & benefits of Personal Loans, you may be ready to make your loan application. However, before you do that, there are certain things you need to check and keep in mind before approaching a lender.
Also Read: What all can a Personal Loan be used for?
3. Set a repayment schedule: When you decide to apply for a Personal Loan, ensure that you’re well prepared to service the loan as well. For this, you need to review your finances and earmark some funds purely for the purpose of repaying the debt. This may entail diverting some funds from your investments towards EMI payments or deducting a set amount from your monthly salary credit. But you should ensure that the funds you set aside is sufficient to pay the monthly installments. If you have other debt obligations such as monthly credit card payments, you need to take those into consideration as well while charting a repayment plan.
4. Reveal all sources of income: In order to sanction a loan, lenders need to check your income sources to gauge your ability to service the Personal Loan. If you are a salaried employee, that means the lender will check your monthly income. Alongside that, you also need to ensure that any other source of income is also included in the evaluation. For example, you could have monthly rental income, dividend income, interest income, or even income from a side hustle. Since a Personal Loan is an unsecured loan, lenders need to be assured of your capacity to repay the debt. Thus, you need to assimilate and provide proof of all possible sources so that your chances of getting loan approval are enhanced.
5. Interest rates: Interest rates for Personal Loans usually range between 10-20%. Getting an attractive interest rate for your Personal Loan can make a huge difference to your overall loan repayment. Even when you’re choosing to pay through small monthly instalments, availing of a loan at a competitive rate can help rationalize your payments over the lifetime of the loan. Thus, keep track of various interest rates and charges levied by different banks and non-banking financial companies (NBFCs). Choose the one that keeps your overall loan repayment manageable. Poonawalla Fincorp offers some of the most competitive Personal Loan interest rates in the industry. You can go through their official website to know more details.
Personal Loans can be very helpful when you’re in the midst of upgrading your lifestyle and aligning your needs to the city you’re living in. Poonawalla Fincorp, a loan company in Chennai is the best choice as a lender for a Personal Loan. If you ever need a loan in Chennai, Poonawalla Fincorp with its simple application process, minimal paperwork, and quick approval and disbursal, is the company you should approach.
All businesses need financial support to establish or expand the scope of their operations. The healthcare industry is characterized by large investments that are needed to improve infrastructure and processes.
The medical profession is a noble profession. It is one of the oldest and most respected professions. It not only allows you to earn a good amount of money but also provides an opportunity to serve humankind in a truly remarkable way.
Medical spaces and equipment require quite a hefty investment, with each machine costing a significant amount after you have already spent a small fortune on college. Since this amount can be too much for any single person to afford, there are other avenues these days that can help you finance your practice and fulfil your dream.
Technology and medicine go hand in hand in todayâ€™s times. With the rapid advancement in the field of technology and medicine, being up to date is essential for any doctor or medical professional.
If you are a doctor planning to start your career or someone who is about to open a clinic, you will need to invest in medical equipment and technology and that is where a medical equipment loan comes in.
Leave a Comment