Located in southern Uttar Pradesh, the city’s original name was “Pragaya” meaning place of offering. It comes from the union (Sangam) of the Ganges, Yamuna and mythical Sarasvati River. The meeting point of three rivers is known as Triveni and is considered a sacred place by the Hindus. Allahabad is the second oldest city in India. The city houses many colleges, research institutions and central and state government offices. Allahabad has hosted cultural and sporting events, including Kumbh Mela and the Indira Marathon.
Personal loan in Allahabad
It is the most commonly taken loan type as the loan procedure and disbursal time is the quickest. Personal loan are unsecured loans meaning no collateral or guarantor is required in case of this loan. Anybody who meets the eligibility criteria and is able to convince the lender that he or she has the repaying capabilities can get this loan. You can get a personal loan online as well you can visit the branch.
The loan amount will depend on your repaying capabilities.
- Collateral or guarantor not required
- The loan amount can go upto Rs 15 lakh
- There is flexibility in choosing the tenure of the loan. It can go upto 60 months.
- The loan amount can be repaid by using any of the three repayment options- ECS, autodebit and post dated cheques.
- Balance transfer facility is available. If you get a loan at lower rate you can transfer your loan balance to another lender,
- There is a prepayment option but you have to pay a small fee for it.
- Personal loans are meant for personal use. There are no limitations on where a person can use a personal loan.
- You don’t have to put your home or car as a collateral as in the case of house and car loan respectively.
- The processing and the documentation for the loan are quite easy and fast. If you meet the eligibility criteria of the lender and have repayment capabilities, then the loan is generally disbursed in 72 hours time.
- The rate of interest charged under a personal loan are lower than credit card