PERSONAL LOAN
Achieve Your Dreams with the Perfect Personal Loan!
Our Personal Loans are designed to meet your immediate financial needs, whether it’s for a wedding, travel, medical expenses, or other personal projects. With minimal documentation and quick disbursal, Vagami Fincorp makes accessing funds easy.
Features and Benefits of our Personal Loan
A personal loan is an unsecured loan that is not backed by collateral or security. This makes it a flexible financing option, as there are no limitations on its use.
The followings are the ways a personal loan can be useful:
- Debt consolidation: Combining multiple debts into a single loan with a lower interest rate to save money on interest payments and make it easier to manage debts.
- Home renovation: Using a personal loan to fund home renovation projects can increase the value of your home and improve your living conditions.
- Medical expenses: If you have unexpected medical expenses, such as emergency surgery or hospitalisation, a personal loan can help cover the costs.
- Emergency expenses: A personal loan can help cover unexpected expenses like medical emergencies or car repairs to avoid financial hardship.
Personal Loan Eligibility Criteria
To qualify for a personal loan, you have to meet certain criteria. Below are the important factors that lenders take into consideration to decide your eligibility for a personal loan.
- Age should fall under the range of 21 years to 60 years
- Net monthly income should be 15,000/- for salaried and self-employed, yearly transactions should be a minimum of 20 lakhs
- Credit score must be above 650
- Debt-to-income ratio
- Employment stability
- Maintained a good credit score
- Clear repayment history
- Must be a Resident Citizen of India
Documents required to apply for Personal Loan
- Identity Proof – Passport, Voter’s ID, Driving License, PAN Card, Aadhaar Card
- Proof of Residence or Address Proof – Passport, Voter’s ID, Driving License, PAN Card, Aadhaar Card, Electricity Bill, Telephone Bill, Ration Card
- Age Proof – Passport, Voter’s ID, Driving License, PAN Card, Aadhaar Card
- Income Proof – 1 year Bank statement, 3 months Salary Slips
- Employment Proof – Employment Certificate, Office address proof
- GST or VAT Registration for Self-employed
- Photograph – Passport-size photographs
- Business proof – Business registration documents such as a partnership deed, Memorandum of Association (MOA), Articles of Association (AOA), etc.
- Income tax returns – Documents of the past 2-3 years to verify income and tax payment history
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