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Personal Loan in Thane

Thane is no longer a small outskirt of the bustling city of Mumbai. It has become a city in its own right and grown out of the shadow of Mumbai many years back. One big reason for this growth is the high cost of real estate in Mumbai. This forced Mumbaikars to seek accommodation in suburbs like Thane and Kalyan and commute to work every day. Over the decades this resulted in a lot of well-off professionals making Thane their home and settling here.

This is the reason banks have made a dash for offering their products and services in Thane. All banks have their branches in Thane and offer both asset and liability products. Of all the loan products, the one that gets most traction is the personal loan. It is a loan that doesn’t demand any security. The bank, instead, uses the credit history of the applicant to decide if a loan can be granted. A Cibil score of more than 700 should usually be good enough for a loan application to be valid, unless there are any bad loans earlier. The income stream of the applicant is used to judge the maximum loan amount permissible. The logic behind the calculations is to take away all the regular commitments (like insurance policy monthly premiums, other loan EMIs, and standing instructions for SIPs or RDs etc.) from the monthly income, and see whether the EMI is within 55% of the monthly income.

An applicant can go to any branch of a bank to apply for an instant personal cash loan in thane. But banks have made more provisions to ensure that prospective loan customers are not lost because of the inconvenience of having to come to the branch. An applicant can log on to the bank’s website and apply conveniently by submitting income and KYC details. In case the applicant is more comfortable using a smartphone rather than a desktop, he or she could opt for the personal loan app in thane to conveniently apply through a smartphone. This makes the process of application even more simpler and faster for the applicant.

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