Lower Parel is one of the leading commercial suburbs with plenty of retail hubs. It is famous for plenty of establishments – retail shops and markets. Lower paradise is said to be shopper’s heaven. It is closely connected to the eastern express highway. This locality is a brilliant mix of residency and commercial retail shops. Leading hospitals and schools are located in this area. Monorail stations and Lower Parel trains are served to this location. This place is connected with the major places like Worli, Dadar, and Mahalaxmi. But being the expensive place of Mumbai and with the rise in prices and lifestyle changes, sometimes it becomes difficult to manage the monthly expenses.
And at that time, personal loans act as the life saviour for many people. Apply for a loan online and use it for multiple purposes. No matter whether you are planning to buy your dream home or traveling to dream destination or need to meet medical emergencies, you can use the personal loan as per your needs. If you are a resident of lower panel and looking for financial assistance, then read on!!
Wondering if taking a personal loan is the right choice in Lower Parel?
Don’t worry; here are the benefits of considering getting a Personal loan.
Compared to other loans, which will take 3 to 4 weeks. A personal loan only takes 24 hours. It is most helpful when you need cash. If you have a credit history and CIBIL score higher than 750, you’ll get the loan approval quickly with a low-interest rate.
Collaterals not required –
You don’t have to provide any collateral; if it is an unsecured loan; this is one of the reasons you can get a personal loan easily compared to a home loan, auto loan etc.
Loan is helpful in Home renovation, holidays, or buying any personal gadget without any limited cause. Personal loans, Flexibility makes them the number one choice for many people.
Chance of building credit score –
In case of a low credit score or a new credit account, the best way to build your score is to take a personal loan and be timely with payment. Your credit score will increase if you pay your EMIs timely along with an agreed interest rate. However, it is essential to get a loan amount that comes within your repayment ability. If you tend to miss EMIs( Equated monthly instalments) can cause harm to your credit score.
Easy availability and minimal documentation –
It takes minimal documentation to avail of online personal loans. The application procedure is also simple. These loans are available online within a few minutes, and disbursal amount ranges from 10,000 to 5,00,000 with payment of tenure of upto 60 months.
Tax benefit on Personal Loan:-
There are no benefits on Personal loans like Home loans. In certain situations, there are possibilities if the loan is available for renovating a home, business expansion or purchasing assets like gold. Although each reason is subject to different terms and conditions, it might not be available for everyone.
Reasons to keep in mind before you choose a personal loan in Lower Parel:-
- Make Sure that availing of loan repayment is within your limit.
- Consider and clarify all the terms and conditions before you avail of the loan.
- Analyse and compare interest rates from Bank websites and reliable fintech companies, and choose the best appropriate option for you.
Various reasons to take a personal loan in a city like Lower Parel
We all know Lower Parel is a fully developed industrial and residential area. It is one of the most important cities in India, So the need for a personal loan is immense for salaried individuals and self-employed. The town people can avail of personal loans from Buddy Loan for various personal purposes. They can also monitor credit scores using Buddy Score to benefit from low-interest rates. You can borrow upto 15 lakhs and tenure of 6 months to 5 years and an interest rate starting from 11.99% without hidden charges and prepayment. It is one of the best and most trustworthy platforms to avail of loans with easy steps. You can help with a personal loan for:-
- Home renovation – This city is one of the developed oldest cities, so it’s evident for a home renovation for many people. There are many houses in Mumbai. You should take up an instant loan if needed.
- Buying a vehicle – It’s understandable to get a loan to buy a two or four-wheeler. In this city, many people use public trains, and it’s pretty tricky always to choose public transport; a better option is to have your vehicle in your comfort.
- Wedding expenses – weddings in India are a grandeur celebration; spends will be high for everything from decoration to food. It makes it easier to take a loan to either spend extra and avail more luxury for marriage or pay for regular expenses.
- Buy jewellery: You can avail loan to buy gold; it is a good investment when gold rates are lesser, as it also has resale value. You know you’re investing in something that will be useful.
The bottom line is:-
Lower Parel is an important commercial hub with a mix of premium housing estate development. This city is eligible for many people in Mumbai who want to borrow loans, and lenders can easily avail of it. It is why it’s recommended to Apply for a loan online hassle-free and make your life easy.