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Personal Loan

What is Personal Loan ?


A personal loan is an amount of money you can borrow for a specific purpose. For example, personal loans are often taken out from financial institutions to help pay for big expenses such as a wedding, home renovations, debt consolidation, holidays or buying a car.


IThe loan amount, plus any interest and fees, must be paid back within a certain timeframe (known as the loan term). This typically ranges from one to seven years.


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Personal Loan

What can a personal loan be used for ?

A personal loan can be a useful financial tool to help fund all sorts of things. However, they're most commonly used for bigger expenses like Holidays, Home Renovations or Children's Wedding.


What you need the loan for might make a difference to what kind of loan you go for. For example, if you're after a personal loan for:

  • Holidays
  • Wedding
  • Study Purposes
  • Celebrate Festivals
  • Medical Emergencies
  • Debt Consolidation
  • Buying a Car Park Space
  • Renovation or Home Improvement

Documentation for Personal Loan

  • Income Proof For Salaried Individuals:

    • Salary Slips/ Bank Account Statement/ Form 16

  • Identity Proof:

    • Passport/PAN Card/ Voter’s ID/ Aadhaar Card/ Driving License

  • Address Proof:

    • Passport/ Aadhaar Card/ Lease/ Property Purchase Agreement/ Utility Bills (not more than 3 months old)/ Passport/ Driving License

  • Income Proof For Self-employed Professionals:

    • Previous Years’ ITR/ P&L Statement and Balance Sheet/ Bank Account Statement

  • Business Proof For Self-employed Individuals:

    • Business Incorporation Certificate/ Professional Degree/ Certificate of Practice/ Partnership Deed/ GST Registration and Filing Documents/ MOA & AOA/ Shop Act License

Features & Benefits of Personal Loan

Here are some of the main Features and Benefits of opting for Personal Loan:

  • Rapid Disbursal
  • Flexible Tenure
  • Flexible Loan Amount
  • No Collateral Needed
  • Tax Benefits
  • Minimal Paperwork
  • Attractive Interest Rates
  • Flexibility of Use

LOANBOOKS is an easy way out when you need money without too much of a hassle. It’s Trusted, Easy, and Fast – and offers competitive interest rates. Avail of a personal loan today and enjoy a host of unmatched benefits like never before!