What is a pre-approved personal loan and how to get it?

Pre Approved Personal Loan Meaning in Hindi In this article, we will know what is a pre-approved personal loan. There are many banks and Non-Banking Financial Company (NBFC) in India which are providing pre-approved personal loan to the customers at attractive interest rates.

Before taking a personal loan from any bank or financial institution, you should know that What is personal loan, You can apply for this loan both online and offline. In this article, we will know in detail what is Pre Approved Personal Loan (PAPL Loan), what is the interest rate, eligibility, documents of this loan and how can we apply for this loan etc. Read the article completely till the end.

Also read: Money View loan

Pre Approved Personal Loan Meaning in Hindi

A pre-approved personal loan is an instant loan that is given to select customers only. this one unsecured loan falls under the category of. To take this loan, the customer does not have to give any collateral or security. This loan can be taken by the customer with less documentation. Pre approved personal loan is given to the customer on the basis of his good credit history and repayment record. if your CIBIL Score so good you Instant Personal Loan can obtain.

There are many banks and financial institutions in India which provide Best Personal Loan is providing. The processing time of Pre Approved Personal Loan (PAPL Loan) is very less. The lender offers this loan to enhance its product and meet the immediate financial needs of the customers. Personal loan requirements in different banks and financial institutions Personal loan interest rate Happens in different ways.

Also read: Manappuram Personal loan

HIGHLIGHTS:

Article	Pre Approved Personal Loan 2022
name of the lender	Banks and NBFCs
Rate of interest	Different Banks and NBFCs
loan amount	Different Banks and NBFCs
beneficiary	customers with good credit history
Application Mode	online / offline

Also read: HDB Personal Loan

Pre Approved Personal loan interest rate 2022

Under this loan, the interest rate of different banks and financial institutions can be different. Since this loan is given only to those people who have a good credit history and repayment track record, they are usually offered this loan at a lower rate of interest than a normal personal loan.

Given below are the pre-approved personal loan interest rates of some banks and financial institutions, which you can see:

name of lender	interest rate (per annum)
State Bank Of India	9.60% – 13.85%
Kotak Mahindra Bank	10.25% forward
HDFC bank	10.25% – 21%
axis Bank	10.25% forward
PNB	7.90% – 14.50%
indusind bank	10.49% ahead
ICICI Bank	10.25% forward
Tata Capital	10.99% ahead
Bajaj Finserv	13.00% forward
IDFC First Bank	10.49% – 23%
Aditya Birla Capital	14% ahead

Also read: Paisabazaar Personal Loan

Benefits and Features of Pre Approved Personal Loan (PAPL Loan)

• It is an instant loan which is given by the lender to only select customers or to their existing customers.
• This loan is given only to those people who have a good credit history and repayment track record.
• in different banks and financial institutions Pre Approved Personal Loan The interest rate and loan amount can be of different types.
• Usually the loan tenure of this loan ranges from 12 to 60 months.
• To take advantage of this loan, your credit score should be very good.
• The interest rate of a pre-approved personal loan can be lower as compared to other loans.
• You can take advantage of this loan for any of your personal purposes.
• If you want to renovate your home then you home loan No need to apply for a personal loan, you can fulfill this dream with a personal loan.
• You can take advantage of this loan with minimal or no documents.
• You do not have to provide any collateral or security to take a pre-approved personal loan (PAPL loan).
• The processing time of this loan is very less. This loan is disbursed to the customers in a very short time.
• You can easily apply for this Instant Online Personal Loan both online and offline.
• The lender can also give you special discounts on this loan such as waiver of processing fee, loan at low interest rate etc.

Also read: Muthoot Finance Personal Loan

PAPL Loan Eligibility

Not everyone can take advantage of this loan. The eligibility for this loan can be different in different banks and financial institutions. Following are some of the eligibility criteria to apply for a pre-approved loan:

• Your credit history should be very good.
• The customer should have a clean repayment track record.
• The bank gives this loan to the existing customers, but some new customers are also given this loan facility.
• Contact your lender for more information about eligibility.

Also read: Mahindra Finance Personal Loan

Pre Approved Personal Loan Documents Required

Before applying for a personal loan by visiting any bank or financial institution, you should keep all your necessary documents together so that whenever the lender asks you for documents, you can show them all the documents immediately. Documents can be in different types in different banks and Non-Banking Financial Company (NBFC). Contact your lender for more information about the document.

How to apply for a pre approved personal loan?

If you fulfill all the conditions of this loan, then you can apply for it online, offline and through mobile app. You can apply for this loan online by visiting the official website of the lender. To apply offline, you have to visit the branch of your nearest bank or financial institution.

You will have to contact the branch employee who will tell you how much loan you are eligible for based on your eligibility and your documents. After that you can apply for the loan by filling a form.

Also read: Fullerton india personal loan

Difference between personal loan and pre approved personal loan

Both these loans are taken for short duration. In both these loans, no collateral or security is required to take the loan. The main difference between these is that a pre-approved personal loan is an invitation to apply for quick funding whereas personal loan can be accepted or rejected by the lender.

Given below are some differences through which you can understand the pre-approved personal loan and personal loan:

• You can apply for a personal loan at any time whereas a pre-approved personal loan is for a fixed tenure.
• Pre-approved personal loans are given by banks to a select few customers, whereas any individual can apply for a personal loan.
• Pre-approved personal loans are disbursed to the customers in just a few minutes whereas personal loans can take anywhere from 4 hours to a few days to disburse.
• Maximum documents may be required for personal loan whereas pre-approved personal loan can be availed by you with very few or zero documents.

Also read: How to get Mahila Personal Loan

Conclusion

In this article we have you Pre Approved Personal Loan Meaning in Hindi Provided complete information about. This loan can be availed by only a select few who have a good credit history and a clean repayment track record. You can apply for this loan by visiting any bank or NBFC.

If you still have question in your mind that what is Pre approved personal loan then you can write to us in comment. Hope friends, you have found this article informative. If you liked this article then please share it.

Also read: Deutsche Bank Personal Loan

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