Overview – Personal Loan For Debt Consolidation
Over the years, personal loans have helped many people. They have helped people pay for emergencies and other costs that came up quickly. And they do even more now. Personal loans make people happy by making good things happen in their lives. Events like weddings, college, etc., can lead to unexpected costs that are easy to cover with a personal loan. People in our country can go after their dreams now that personal loans are so common, which has increased consumption. It’s mostly because interest rates on personal loans are low, and digitization has made it easier to get one.
Importance of Debt Consolidation
Many times, multiple debts can be stressful. If you leave them, you might feel better. It could be hard to keep track of multiple payments and manage work and household costs simultaneously. It could also feel overwhelming. Debt consolidation is a great way to deal with debt because it lets you combine loans. When you use a personal loan to consolidate debt, you combine all of your debts into one monthly payment. So, if you pay off all your other debts, you will be left with a single loan and a monthly estimated payment (EMI). It will relieve you greatly because you’ll only have to worry about one monthly payment.
Debt consolidation is one of the best ways to get your finances in good shape today. It is a clear case where personal loans can help. There are two big reasons to do this. The first is keeping track of monthly payments, which will help you budget for future costs. The second goal is to get interest rates to go down. It can be done with a loan from FINTITUDE. You can even use our free online EMI calculators to figure out the monthly payment on a personal loan. It will help you figure out how much money is going out.
Advantages of Personal Loans for Debt Consolidation:
Personal loans of up to Rs. 25 Lakhs can be used to pay off debt.
Personal loans from FINTITUDE come with very good interest rates. For example, the interest rate on a personal loan can start at 11.99%.
The paperwork process is easy and doesn’t use any paper.
One can fill out an application online and even upload documents.
The approval process can take as little as 30 minutes, and the money can be sent out within 72 hours, giving you an instant personal loan.
Repayment is flexible.
If you apply online, you’ll know immediately if you’re eligible after sending in your application.
Simple Personal Loan Documentation Process:
- A voter ID card, driving license, PAN card, or passport copy with a photo and proof of age.
- Filled up and signed the application form
- Coloured Photograph
- Proof of residence (ration card, telephone bill, rental agreement, passport copy, driving license, bank passbook or statement, or electricity bill)
- Last 6 months’ bank statement
Paycheck stubs from the last three months, a Form 16, or an Income Tax Return are additional documents that applicants who get paid need to bring.
Self-employed applicants also need to show their last 3 years of income tax returns, a calculation of their income, and a certified Balance Sheet and Profit and Loss Account from the last 3 years.
When someone applies for a loan, they may be asked for more documents based on their profile and the type of loan they want.
FINTITUDE offers personal loans that are easy to get and have low-interest rates. You can be financially free if you get a personal loan right away and pay it back in three days. Find out how to apply for a personal loan on this page. The team at FINTITUDE can be reached by phone or email.