About Personal Loan

Want to order that premium buffet for your wedding but budget isn’t supporting? Or upset about cash scarcity for your career plan abroad? Or need financial assistance for that urgent surgery? Then you have come to the right place.

We, at Jothifinserv, understand the importance of each stage in your life and are humbled to make an impact. Our motto is to help you with an honest intention.

Personal Loan is a short/medium tenured loan which requires no collateral/security for validation. The time taken to disburse these loans varies from a few hours to few days with minimal/no paperwork. Personal loans are specifically considered for its flexible end-use feature. These loans can be used for various purposes including emergency medical expenses, home renovation, wedding, etc.

Get best personal loan offers

Now apply for a Personal Loan online, All you need to do is provide your details below application form.

Personal Loan- Main Eligibility

During the loan application processing stage, lenders check your credit history to understand your trust-worthiness in fulfilling your debt obligations. Credit score of 750 or above shows that the borrower has demonstrated a consistent track record of making timely repayments. Hence, lenders conclude that specified borrower doesn’t fall under defaulter list and approve the personal loan immediately.

Age

Minimum age of Applicant: 21 years

Income

Minimum net monthly income: Rs. 15,000 per month

Credit Rating

Applicant should have the bank specified credit score.

Personal Loan Offerings

With the right kind of assistance at the right time, it’s time to achieve all your goals and aspirations! Here are some of our personal loan offerings:

Medical Emergency

Borrow, a reputed loan company, offers personal loans for any unexpected medical emergencies, instantly.

Wedding Ceremonies

Have a wedding ceremony planned and wondering about your budget. Worry no more! Here’s our little gift for your dream wedding- an instant personal loan. Happy wedding!

Abroad Travel

Have a career planned abroad and paused due to the cash crunch? Head to Borrow, get instant personal loan to cover all the travel expenditure, and climb the ladder of your career towards success. Safe travel!

Educations

Want to encourage your child to pursue higher studies but struggling to arrange enough funds? Not anymore, as we provide personal loans for your child’s higher education.

Get financing for whatever you need now

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Why should you choose us anyway?

Here’s a sneak peak of some features of our personal loan:

1.Faster loan processing

During medical emergencies, we understand the time will be ticking and hence, process your personal loan faster with no collateral verification.

2.Choose your amount

You have the liberty to choose the amount and write that in the loan quotation form.

3.Best rates

We offer reasonable rates for your personal loan, which indicates transparency.

4.Choose your tenure

Along with choosing your amount, you also have the choice of choosing your tenure.

Frequently Ask Questions

If you have a question that deals with clients, customers or the public in general, there is bound to be a need for the FAQ page.

Why do I take a Personal loan?

Personal loans can be used to finance anything from funding an unexpected medical emergency, marriage, family vacation, home renovation to even education fees.
Personal loan interest rates are mostly fixed and higher than other loan types. If you have a low CIBIL score, then you should not apply in multiple banks for loans as each rejection will drop your CIBIL score.

How much can I borrow on a Personal loan?

Normally it can go beyond 60% of net take-home salary. Most banks prescribe certain limits on Personal loan based on your income and ability to repay. However, it is always advisable to borrow an amount that you will be able to safely repay without much discomfort.

The personal loan amount you are eligible for is also dependent on some other important factors like the bank-wise company category listing for the same bankers and the banking credit history in the last few years.

What is the CIBIL score for personal loan?

CIBIL score ranges from 300 to 900. A score of 750 and above is considered a good score to get personal loan.

Higher the credit score, the higher the chances to get the loan application approved.

What are the tax benefits available on personal loans?

Interest paid on personal loans, car loans, and credit cards is generally not tax deductible.
However, you may be able to claim interest you’ve paid when you file your taxes if you take out a loan or accrue credit card charges to finance business expenses.
Interest on qualified student loans, which are used to pay for qualified educational expenses, is tax deductible.

Personal Loan vs Credit Card Loan: Which is the Right Choice for You?

For loans without submitting any collateral or guarantee, personal loan and the credit card loan offers the best option. But do you know which is the better option between the two? We will discuss it here today.

Personal Loan

Loan for various purposes such as weddings, traveling, medical expenses, children’s education, etc.
Eligible for a higher loan amount depending on your income and CIBIL score.
Tenure of loan maximum of 5 years.
The low-interest-rate compares to loans on the credit card. The interest rate depends on your credit profile.
Loan to be repaid as EMIs for a specific tenure.

Credit Card

Loan Credit Card for small and big purchases for personal or business needs.
Can use amount up to the predetermined monthly credit limit.
Interest-free credit period of upto 50 days.
Loan Credit Card interest rate is higher than personal loans if late or part payments.
Credit Card bill to be paid at the end of credit period.

Personal Loan

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