Benefits of Availing a Personal Loan 

With the pandemic Animesh wanted to surprise his wife Sushmita on their first wedding anniversary by organising a luxury cruise vacation for the two of them. However, the funds were posing an issue. Upon knowing about Animesh’s dilemma, his friend Salim recommended that he apply for a personal loan

Salim revealed that he had also applied for one a while back to fund his destination wedding. He shared the contact details of the IndusInd Bank executive who had assisted him and insisted that Animesh get in touch with a professional to understand the pros and cons of availing a personal loan. When Animesh personally contacted IndusInd Bank this is what he came to know…

Top 5 Benefits of Availing a Personal Loan

  1. Simple documentation

Personal loans do not have a lengthy documentation process. The process in several banks is 100% paperless and can be availed online from the comfort of your own home. Moreover, in certain banks, you need nothing more than your identity proof (PAN card, Aadhar card, etc) to apply for one. 

  1. Quick and hassle-free approval

Personal loans generally get approved in a short period and are thus especially suitable for emergencies. Lenders tend to be non-fussy if you can show a stable credit history (CIBIL score) and meet the eligibility criteria. Disbursal of the funds is also made in a lump sum allowing the applicant to use it as desired. 

  1. No collateral 

To avail of a personal loan, you do not need to leverage any of your other assets as a guarantee against non-payment of dues. If you are unable to repay your loan as per the discussed terms, you will have to endure other financial consequences but the lender will not be liable to confiscate any of your other assets. 

  1. Flexible loan tenure

Most lenders also generally offer flexible repayment options on personal loans. This means that you can decide when you would be able to repay your loan and fix the terms with your lender accordingly. A longer tenure means a lower EMI, and a shorter tenure means a lower interest rate. Thus, you can plan your repayment schedule as per your needs and finances.

  1. Attractive interest rates

When it comes to other loans, interest rates are generally fixed. However, that is not the case with personal loans. Based on your CIBIL score and employment history one can become eligible for a lower interest rate. Based on these parameters you might also qualify to borrow a higher loan amount. 


After knowing about the benefits of applying for a personal loan, Animesh immediately visited IndusInd Bank’s website to use the EMI calculator and see how much he would have to pay in each installment. Once he had a better idea of the financial planning involved, he decided to apply for the Indus Easy Credit Personal Loan online. The application process was 100% online and he was also able to get an attractive interest rate. If you also need a personal loan visit our website and apply for the Indus Easy Credit Personal Loan today. 

Related Articles

Leave a Reply