How to pick the best personal loan?


Loan can be availed to start or carry out existing needs that require funds.It can be used for various purposes-to purchase a new car, go on a holiday, child’s education or to fund a personal & business project.

Personal loan and car loan are the most common financing options.



Is personal and car loan different?

A personal loan in Ahmedabad is an unsecured short-term loan which can be availed at any time to meet your current financial needs. They could be availed for wedding, vacation or home improvement purposes etc.

A car loan in Ahmedabad is a secured loan against the vehicle you intend to purchase where purpose is strictly defined (as the name implies) for purchasing a new vehicle.

Choosing the best loan can be tough. With so many borrowing options available at present, can astonish you in making right decision.

Surat and Ahmedabad are one of the fastest growing cities of Gujarat. With increasing needs of middle class in these cities, loans have become a formidable way to fulfil your desires. You can get personal loan in Surat up to Rs 20,00,000 for your needs. And, there has been a drastic increase for car loan in Ahmedabad; primary due to working younger generation.

Eligibility criteria to avail loan is based on your credit history. Whether you avail loan from Surat or Ahmedabad, the process to apply for loan will remain the same. 

Things to know before you apply for personal loan:

• No restrictions on how you spend the funds
• It can be short or long term; payment structure is flexible
• Interest rates could be high depending on credit history
• Consumers with poor credit score does not qualify

Things to know before you apply for car loan:

• Interest rates are comparatively low
• Provides ‘on the spot’ finance solution
• You are not an owner to the car until final repayment is made
• An upfront deposit is required to secure the loan

There has been an increased demand to avail for loan from Salaried Class. Lenders are also happy to provide loans to people with regular income. This has led to a push for easier availability of car and personal loan in the market.

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