How it Works

1

Quick Register

Fill the simple form

2

Select Multiple offers

List of offers from multiple banks

3

Apply

Quick apply less than 2 minutes

Personal Loan – Low interest rate personal loans from a wide range of lenders

Personal loans are an unsecured form of credit that is popular to meet immediate requirements. It is multi-purpose in nature and therefore can be used for various purposes including wedding, home renovation, travel purposes and more. Moreover, there is no restriction for the amount borrowed and can be used for any purpose they want. In fact, a personal loan can help you build your credit faster when compared with other forms of credit. This is because of the risk it carries due to being unsecured.

All in all, a personal loan can offset any temporary financial crisis.

Benefits and Features of Personal Loan

No collateral required

One of the benefits associated with an online personal loan is that it is unsecured in nature. This means you don’t need to pledge any collateral for your loan. Although this can be a reason for your interest rate, you can get a low-interest personal loan easily if you meet the eligibility requirements.

Minimal Documentation

In this age of digitisation, the process of verification and documentation has now become short. This is applicable for an instant personal loan as they are fast in disbursal and require minimum documents for approval.

Easy Approval

You can get personal loans that are quick and easy in approval. This is why it is the best bet in times of financial emergency. Moreover, the process has become digital; thus reducing time in the verification process.

Multipurpose in nature

A personal loan can be used for anything except for investment and illegal activities. Apart from that, it is multipurpose in nature and can be used for anything. Other forms of credit when taken are for a specific purpose and can be used only for the same. For example, a home loan is used for purchasing a house whereas a car loan is taken to buy a car. However, a personal loan can be taken to offset any immediate requirements.

Personal Loan Eligibility

Personal loans are provided by most of the banks/NBFCs but with different eligibility requirements. However, there are certain criteria that are common for all financial institutions. The eligibility criteria to get an online personal loan approval for salaried and self-employed amerisafe are:

Age 18/21 years - 60/65 years
Employment Type 1. Salaried
2. Self-Employed professionals
Credit score 750 or above with a good credit history
Minimum Net Income (Monthly)
  • ₹15,000(non-metro cities)
  • ₹20,000( metro cities)
Loan Amount Up to ₹50 lacs depending on the credit profile
Work Experience Salaried
  • Employed at current company for at least 6/12 months
Self-Employed
  • Business tenure of at least 3 years (continuous)
  • ITR of last 3 years

Documents Required for Personal Loan

The common documents required for an online personal loan approval are given below:

For Salaried amerisafe

1. Identity & Age Proof

2. Completely filled personal loan application with photograph

3. PAN Card

4. Residence proof - Passport driving licence, Voter ID, postpaid/landline bill, utility bills (electricity/water/gas)

5. Bank statements for the last 3 months(preferably your salary account)

6. Salary Slips of last 3 months

7. Form 16 or Income Tax Returns of last 3 years

For Self-Employed amerisafe

1. Identity & Age Proof

2. Completely filled personal loan application with photograph

3. PAN Card

4. Residence proof - Passport driving licence, Voter ID, postpaid/landline bill, utility bills (electricity/water/gas)

5. Bank statements for the last 3 months(preferably your salary account)

6. Salary Slips of last 3 months

7. Last 3 years Income Tax Returns with computation of Income

8. Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

*The figures provided in the table are indicative subject to change from time.

Representative Example:

With a representative 10.75% APR based on borrowing ₹ 10 lacs and repaying over 60 months with 60 monthly repayments. Monthly repayments of ₹ 21618.

Types of Personal Loan:

Here are the different types of online personal loan:

Personal Loan EMI Calculator

When you plan to apply for a personal loan, EMI plays the most important factor. Whether or not the EMI will fit in your monthly budget can help in deciding your personal loan. This is where a personal loan EMI calculator can help you. A loan calculator helps you get the following results:

Personal Loan Interest Rates

Personal Loan Details
Interest Rates 10.75% - 35%
Processing Fee Differs from bank to bank; generally ranges between 1-3% of the loan amount
Loan Tenure 12 months to 60 months
Loan Amount ₹15000 - ₹50 lakhs
Lock-in period Varies from lender to lender
Preclosure Charges Differs; Generally between 2%-5% of the loan outstanding
Guarantor Required Varies on different conditions

Why should you apply for a personal loan at amerisafe?

amerisafe is a one-stop solution for all your financial needs. In here, we try to provide you with the best services that are hassle-free and quick in nature. For personal loans, we provide you with a comparative analysis of what different banks are offering and assist you in your final decision.

Here are a few reasons for you to apply for a personal loan at amerisafe:

Fast assistance

amerisafe offers 24*7 services for all its customers. You can contact us at anytime of the day and we will try our best to get back to you as soon as possible. Moreover, the process for personal loan approval is fast and quick in nature.
You can simply write to us at support@ amerisafe.com for any grievances, complaints or feedbacks.

Customer needs in forefront

Your needs are our priority. We promise to deliver you with services that are best on our capabilities. By handpicking the personal loan offers based on customer profile, we try to give you the most personalised experience. The services for all our customers are free of cost.

Compare Offers Online

With more than 40 lenders as partners, you can compare the different offers of financial institutions to make the right call. In fact, we help you find the best lender as per your eligibility requirements. There is a personalised relationship lender for every customer who helps him/her select the bank of his/her choice.

Real-time customer support

Our customer support team is fast and efficient to clear all your doubts regarding personal loan eligibility, procedures, offers, documentation and repayment options. We even contact with the respective lender on behalf of you.

How To Apply For A Personal Loan at amerisafe?

Applying for a personal loan involves three simple steps:

Step-1: Fill the eligibility form

In the first step, the customer needs to fill in the eligibility form which includes filling the following details:

Step-2: Select from the multiple offer(s)

You will be given a list of lenders based on the information provided by you in Step-1. The offer could be one or more than one based on your profile. Out of the list, select the lender you wish to go ahead with. Please remember to consider the following points when choosing the lender:

Step-3: Apply for the loan

Particulars Salaried Individual
Interest Rate 11.00% - 24.00%
Loan Tenure 12-48 months
Age 21 years - 58 years
Processing Fee Up to 2.5% of the loan amount + GST and other applicable statutory levies
Lock-in period 12 months
Prepayment/ Preclosure charges 5% of the outstanding amount + GST on principal outstanding
*The figures provided in the table are indicative subject to change from time.

Amerisafe Personal Loan

The Amerisafe personal loans are non-collateral loans with minimal documentation. Moreover, the loans are available at flexible EMI’s ranging from a year to 5 years.

Particulars Salaried Individual
Interest Rate 12.00% - 16.00%
Loan Tenure 12-60 months
Age 25 years - 58 years
Processing Fee Up to 3.99% of the loan amount
Lock-in period 1 months
Prepayment/ Preclosure charges 4% plus applicable taxes on principal outstanding

What Our Customers Say

4.4/5

Rating in google-plus

Great app showing all credit data at one platform in detailed in secured way. Fast processing of cards and loans.

Disclaimer

Amerisafe Business Solutions Pvt. Ltd. is just an financial Advisory institution which is being involve to advice finance subject. It is involve to prepare advisory report and project report and on behalf of the prosperous applicants and all kinds of loans, as per the procedural requirements of NBFC'S Public Financial Institutions etc. is respect of Amerisafe Business Solutions Pvt. Ltd. charges consultancy fee that is being denoted as processing fee.