The Best Personal Loan Deals For An Emergency

Posted by Himanshu Kataria on February 9th, 2021

A financial emergency could hit us any time, considering the times we are living in. It is better to be prepared to know how to have a quick backup rather than waiting for bad timing. A Personal Loan is the best way to deal with these kinds of situations. 

However, choosing a personal loan lender is a complicated process. There are several factors involved in the process. We have chosen two lenders who offer great deals on an instant cash loan. 

They are Vintage finance personal loan and Axis bank personal loan. The former is an NBFC, while the latter is a Bank. We will get to know their details, so you choose the best lender as per your need. 

Vintage Finance personal loan

Vintage finance was established in 1992 as an NBFC focusing specifically on property, personal, or Auto loans. Whether you are a seasoned professional or a salaried individual, the loan is available. Vintage finance personal loan does not require a guarantor or collateral to provide the loan. 

• Vintage finance offers a loan amount of up to Rs 15 lakhs. 

• The rate of interest is from 16% to 20% P.A

• The loan tenure is from 12 months to 2 years. 

• The pre-closure is 2% of the outstanding balance. 

• The pre-payment charge is 2% on the prepaid amount.

• The instrument swap charge is Rs 500 per instance. 

Features & Benefits of Vintage Finance personal loan

• Vintage finances offer a high loan amount with a competitive interest rate. 

• Vintage personal loans are available only for Delhi/NCR residents. 

• The loan process does not have any hidden charges and completely transparent. 

• The loan approval rate is speedy. 

• It does not require collateral to provide the loan. 

• It has nominal charges, minimal documentation. 

• There are good offers on personal loan for Honeywell employees. 

Vintage finance personal loan eligibility criteria

• Vintage finance allows only salaried individuals to apply for the loan. 

• The applicant should have a minimum of 2 years of work experience. 

• The applicant should have been working in the current organization for a minimum of 6 months. 

• The applicant's age should be between 21 years and 60 years. 

• The applicant's minimum salary should be at least Rs 30,000 per month. 

Required documents for Vintage finance personal loan

• Identity proof – Aadhar card, PAN card, Employee ID Card, Driving license, Voter ID card

• Address proof – Passport, lease agreement paper, ration card, Property tax bill, latest credit card bill

• Salary slips

• ITR for the last two years

• Signature verification

• Passport size photographs

• Please note, the documents required will vary from borrower to borrower. 

How to apply for Vintage finance personal loan via Afinoz.com? 

• First, download the Afinoz app from the Google play store. 

• Sign up, choose a personal loan. 

• Fill out the loan application

• Upload the required documents. 

• Submit the loan application.

• A representative will call you for further process.

• Once the verification is complete, the loan amount is disbursed. 

Vintage Finance Personal Loan offers a competitive rate of interest with a flexible loan tenure. It has a dedicated customer care service to help you. The loan disbursement timeline is from 2 to 4 days. Now, let's check out Axis bank personal loan. 

Axis Bank personal loan

Axis Bank Personal Loan is best for meeting the immediate funds. It requires minimal documentation, does not have pre-payment charges, and offers a low-interest rate. 

• Axis bank provides personal loan from Rs 50,000 to Rs 15 lakh. 

• The rate of interest is from 16% to 24% P.A

• The processing fee is up to 2% of the loan amount. 

• The repayment tenure is from 1 year to 5 years. 

• There is no foreclosure charge. 

The eligibility criteria for Axis personal loan

• The borrower should be a salaried person or self-employed professional.

• The applicant's age should be from 21 years to 60 years. 

• The borrower's minimum monthly salary should be at least Rs 15,000. 

• The borrower should have completed two years of service in the same company. 

Documents requirement for Axis bank personal loan

• The loan application form

• Passport size photographs

• Proof of identity – Aadhar card, Driving license, PAN Card, Voter ID card

• Proof of residence – Rent agreement, telephone bill, utility bill, life insurance policy

• Proof of income – ITR for the last two years, salary slips, Bank statements, and passbook statements

• Audited balance sheets

• Qualification proof

• Profit and loss statement for the last two years.

How to apply for Axis Bank personal loan? 

Visit the Axis bank official website to apply for a personal loan. Submit the loan application form. A representative will call you for further process. The second way is to go to the nearby branch to do it. Both ways are easy and quick to apply. 

The conclusion

Upon comparing both, Vintage finance personal loan and Axis personal loan, a  borrower might find out there are many similarities in them. However, qualifying for an Axis loan is much harder than Vintage. But whichever you choose, they will give a good deal for a financial emergency for sure.