About personal loan

An increasing number of people are now taking personal loans for their purchases, for children’s higher education, in cases of medical contingencies, and for buying big travel tickets.

Simply put a personal loan is an unsecured loan taken by individuals to meet their personal needs. It is provided on the basis of key criteria such as income level, credit, employment history and repayment capacity, etc. A personal loan is not secure against any asset. The borrower does not put up collateral like gold or property to avail it. The lender, in case of a default cannot auction anything you own.

Lenbor Personal Loans are easy-to-get, quick and convenient. You can use a Lenbor personal loan for a variety of purposes, including travel, wedding expenses, home renovation, in a medical emergency or to buy a gadget.

Besides speedy and transparent processing, the Lenbor offers a host of other benefits on its personal loans including flexible tenures and competitive interest rates.

Personal Loan Products

Achieve all your goals and aspirations; with the right kind of help, exactly when you need it.

Medical Emergency

Borrow Loan Company offers you personal loan for your unexpected medical emergency. Get instant personal loan for your all kind of medical emergency expenses.

Wedding Purpose

You can manage your dream marriage day with our personal loan option. Have the wedding celebration of your dreams. Apply now personal loan for wedding purpose.

Abroad Travel

Get the funds for the expenditure involved in going abroad for taking up employment or you can easily plan a vacation? There might be some people who think that taking a loan for travel is not a great idea. But its also true that if one continues to wait for years to accumulate enough money to travel, then the best age of travelling will be long gone. Hence it is suggested to take the balanced approach. So give a deep thought to this option, avail travel loan with Lenbor to facilitate foreign travel and cut down long years of wait.

Child Education

We at Lenbor are providing customized education loans for higher studies. We give wings to your children’s dreams.

Purchasing latest electronic gadgets or home appliances

Lenbor provides loans for keeping up with this tech-savvy world. You can update your lifestyle by upgrading your existing home appliances to keep pace with the changing technology.

Others

You can get easy loan for fixing your car, for down-payment of a house.

Get financing for whatever you need now!!!

Features of Personal Loan

All loans are not created equal, personal loan has become a great option for people to use.

Faster loan

Contingencies can come up at any time to anyone. Under such times of trial, you would require urgent financial assistance. You would want an option that is hassle free, dependable and fast. Lenbor understands such needs and wants to help you as your financial partner. Our online process eliminates paperwork and provides an easy and fast way to get money quickly.

Choose your amount

All charges are communicated up front in writing along with the loan quotation.

When calculating the maximum personal loan amount in case of salaried people, Lenbor takes care that the EMI does not exceed 30& to 40% of the applicant’s take home salary. Any existing loans serviced by the applicant are also considered when calculating the personal loan amount. And for self employed the loan value will be determined on the basis of the profit earned as per the most recent acknowledged Profit and Loss statement while taking into account any additional liabilities that the applicant might have.

Enjoy the best rates

With the advancement in analytical decision-making and more information being available about individuals, pricing a loan has become more and more complicated. Lenbor provides a transparent platform by providing verified information about participants and integrates with lenders to give you loans at the best competitive interest rates.

Our loan rates and charges are very attractive.

Decide your tenure

The most challenging aspect of getting a loan is to choose the terms available such as loan tenure. Going for a longer tenure means higher interest and a shorter one implies bigger EMI. The term tenure in the loan is used to denote the time frame given by the borrower to the lender during which the loan amount including interest charges should be paid in monthly installment (EMI).

This write up is aimed to help you in choosing the most optimal term for your personal loan amount since selecting an inappropriate one can lead to monetary losses and prolonged loan repayment.

Personal Loan – Eligibility

Any salaried, self-employed or professional Public and Private companies, Government sector employees including Public Sector are eligible for a personal loan.

Age

Maximum age of applicant at loan maturity: 60 years

Income

Minimum Net Monthly Income: Rs 15,000

Credit Rating

Applicant should have the bank specified credit score.

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.

Can I pay off my loan early?

Yes. There is never a fee for making prepayments or paying your loan off early.

To pay off your loan or to see what your payoff amount is for a given date, Sign in to your Lenbor account. You will see a line titled “Remaining balance”, which shows the entire amount due on your loan as of today. To see what your payoff amount is for a future date or to schedule a payment, simply select the “Pay off loan” link and choose the date you’d like to pay your loan off. The “Payoff amount” button will display the balance on your loan on the selected date. To schedule a payment select “Make an additional payment”.

Do you offer refinancing?

“Refinancing a personal loan means that you pay off the old loan-ideally with the new one that has better terms such as a lower fixed interest rate and lower fixed monthly payments” This is where refinancing a personal loan may really help.

At Lenbor you can apply for a refi loan with your current lender or another. We make sure that you get the best deal possible.

Steps to refinance personal loan

                                                                                                      You can easily-

When should I apply?

You are wise enough to weigh the pros and cons of refinancing. Though, before rushing in to apply for a refinance, Here’s a three step plan to make a decision.

With the information above you should have a feel for how easy it will be to refinance.

So adjust your money considerations as every penny counts!

 

 

 

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