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Personal Loan in New Delhi

Delhi is a delightful combination of history and modernity. There are centuries of history associated with this ancient city which was called by a different name then. But because it is the capital city of the country, it also has a modern face. Although it is mostly the political hub of the country but commerce is not far behind either. There are several small, medium and large business houses based out of New Delhi which employ lakhs of people. Additionally, several big companies operate out of New Delhi.

It is no wonder that Delhi is home to several branches of every financial institution of the country. Because of the high percentage of expatriates in New Delhi, most banks offer forex and foreign trade services. But the majority of clients are Indian, and so the regular products are most popular.

One of the most common financial products that every bank in New Delhi offers to its clients is the personal loan. It is a simple unsecured loan with a higher rate of interest. Because there is no collateral involved, the repayment capacity of the borrower determines the amount of loan that can be taken.

Banks do not insist that customers come down to the branches in person for making the application for a personal loan. They can easily apply online for an instant personal cash loan in new delhi. The KYC (know your customer) verification can be done by the bank easily, and based on the salary details and previous loan repayment track, the bank can quickly decide if the loan is possible or not, and the tenure, loan amount and rate of interest of the personal loan.

Given that most people use smartphones for financial as well as other transactions now, banks have also offered a personal loan app in new delhi. The app needs to be installed on the smartphone of the borrower before he or she can apply for a personal loan using the app. This convenience has made it really easy to apply for a personal loan, and for a bank to complete the assessment of the application.

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