We don't require you to
submit your property papers
or anything as a collateral
Approval for your
A quick personal loan can be a real lifesaver. PayMe's Personal loan is equipped with multiple benefits and features tailored especially for your urgent needs. These features include quick disbursal, instant approval and minimal paperwork. Whether it's unexpected medical expenses, debt consolidation, or your dream vacation, having the option to secure a ₹1 Lakh loan promptly is vital.
At PayMe, we recognize the immediacy of such needs and offer a seamless approval process for obtaining a personal loan of ₹1 lakh whenever you need, without unnecessary delays.
Before you decide to borrow money, it's really important to know how much you'll need to pay back each month. Our EMI calculator tool makes this easy. You just have to put in the amount of the loan, the interest rate, and how long you want to take to pay it back. Then, the tool will tell you how much your monthly payments will be. This helps you make a smart choice that fits your budget and money plans.
It's really important to know the money details of a personal loan so that there are no doubts or queries later on. We believe in being very clear about this.
|Personal Loan Interest Rates||Starting from 1.5% p.m.|
|Loan Processing Fees||2 to 10%|
|Loan Tenure||3 to 24 months|
|Late Payment Charges||₹500|
When a borrower takes out a loan, they are required to cover the cost of borrowing, commonly referred to as Equated Monthly Installments (EMIs). These monthly payments are significantly impacted by factors such as the loan amount, repayment period, and interest rate.
The flexibility of repayment tenure allows you to choose a loan duration that suits your financial circumstances.
|1 year||₹9168 per month|
|2 years||₹4992 per month|
PayMe offers an amazing borrowing experience for its customers. The ₹1 Lakh personal loan comes with a range of features and benefits designed to make your borrowing experience smooth and convenient:
Experience fast loan approval and get funds when you need them.
You can choose how much time you want to take to pay us back. Choose the repayment tenure that suits your financial capacity best.
Streamlined documentation requirements so that you won't need to do a lot of complicated paperwork to apply.
The cost of borrowing money from us is fair and not too high.
Transparency is key, and we promise to tell you that there are no hidden fees or charges.
To avail of a personal loan of ₹1 Lakh, applicants must meet the following eligibility criteria:
Applicants must be between the ages of 21 and 60 years.
A stable source of income is essential to demonstrate repayment capability.
A good credit score improves your chances of approval and might even lead to better interest rates.
Common documents include identity proof, address proof, income proof, and bank statements.
Identity proof is used to confirm the identity of an individual. It usually includes documents with a photograph, name, and other personal details. It is required to check whether the person is really who he/she claims to be. Common forms of identity proof include:
Address proof is used to verify an individual's current residential address. Common address proof documents include:
Proof of employment is typically required in situations where the individual's employment status is relevant. This could include:
A financial statement provides an overview of an individual's financial health and is often required for financial transactions or when applying for credit or loans. These may include:
Applying for a ₹1 Lakh personal loan is a simple and convenient process, with us, you can apply for a personal loan in a hassle-free way and with minimum paperwork:
Getting a personal loan without traditional income proof and extensive documentation might sound daunting, but it is not impossible. There are certain cases in which one can get a personal loan without having an income proof, like having one of the following:
Our user-friendly interface and efficient evaluation process ensure that you receive timely assistance when you need it most.
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