Personal Loan
Loan on Your Doorstep
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INTRODUCTION
A personal loan from Milaap Capital can help you take control of your finances. From consolidating your debt, home improvement or renovation, financing repairs, emergencies and more, our wide range of long products can help you plan for both the expected and unexpected.
Choose our personal loan solution at low-interest rates based on your net income, profile, repayment capacity and current monthly obligations.
A financial requirement can come up at any given time. It could be a medical emergency or house repair you can no longer put off. Meeting these financial requirements from your pocket can be challenging. You are likely to burn out your savings and put your future financial plans also in jeopardy. Here’s where Milaap Capital comes to your rescue. You can apply for a Personal Loan and meet your financial requirements hassle-free.
You can get a significant loan amount at competitive interest rates for a flexible tenure. You can repay the loan amount in Equated Monthly Installments (EMI). This makes the financing option affordable and flexible. To apply for a loan, all you need to do is meet simple eligibility criteria and submit the necessary documents. On approval, the loan amount will be credited to your account within the shortest possible time frame.
Types of Personal Loan Products
The best thing about a personal loan is that you don’t have to limit the use of funds for a specific purpose, unlike a home or car loan. Some of the most popular types of personal loans where the money can be used to great effect are:
![](https://www.milaapcapital.com/wp-content/uploads/2023/08/gold-ring-engagement-3410037.png)
Wedding Loan
![](https://www.milaapcapital.com/wp-content/uploads/2023/08/holiday.png)
Holiday Loan
![](https://www.milaapcapital.com/wp-content/uploads/2023/08/home-renovation-loan.png)
Home Renovation Loan
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Fresher Funding
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Top Up Loan
WHAT ARE THE VARIOUS WAYS THE PERSONAL LOAN CAN BE USED?
A plus point of applying for a Personal Loan is it has no end-use restriction associated with it. You can use the obtained funds to meet any financial requirement. Following are the various financial requirements a Personal Loan is commonly applied for:
Medical emergency
Medical emergencies can arise at any given point in time. Most emergencies require you to act promptly. The last thing you want is your loved one not receiving treatment on time due to a lack of funds. If there is no insurance policy benefit available, applying for a Personal Loan can prove to be very helpful. You avail adequate financing right on time.
Wedding planning
Your wedding day is a very special day in your life. The expenses incurred at Indian weddings are also very high. Let not the worry of finances come in the way of celebrating this special day to the fullest. Apply for a Personal Loan and have your dream wedding, without compromising.
House renovation
Whether it’s redoing the ceiling or filling in the wall cracks, at times you need to renovate your house as a priority. Otherwise, it becomes a major safety concern. Home renovation typically requires a significant amount of financing. However, you need not worry, as by applying for a Personal Loan you can meet your requirements easily.
Debt consolidation
Keeping up with multiple loan and credit card repayments can be very challenging. You feel burdened with the high-interest liability. Furthermore, in case you miss out on a repayment you incur a penalty as well. In such a situation opting for debt consolidation is sensible. By applying for a Personal Loan, you can repay all existing loans and other financial obligations and focus on only one repayment.
ELIGIBILITY CRITERIA
![](https://www.milaapcapital.com/wp-content/uploads/2023/08/personal-loan-online-e1692668776451.jpg)
CRITERIA
- Age Salaried 23 – 58 year
- Total years in job/profession – 2 years
- Years in current residence – 1 year
![](https://www.milaapcapital.com/wp-content/uploads/2023/08/Personal-loan-Milaap-capital-Online-e1692668816583.jpg)
SALARIED
- 10.49%* onwards per annum
- Salaried individuals with minimum net salary of Rs 30,000.
- No collateral Loan
- Interest rate may vary as per Cibil Score
NOTE
We Do not Charge Any Fee for Any of Our Services
We do not charge any fee for any of our services. If someone is demanding any type of charges or fees on behalf of Milaap Capital, Kindly Register a Complaint
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Calculator Information
The Equipment Finance Calculator calculates the type of repayment required, at the frequency requested, in respect of the loan parameters entered, namely amount, term and interest rate. The Product selected determines the default interest rate for personal loan product. The Equipment Finance Calculator also calculates the time saved to pay off the loan and the amount of interest saved based on an additional input from the customer. This is if repayments are increased by the entered amount of extra contribution per repayment period. This feature is only enabled for the products that support an extra repayment. The calculations are done at the repayment frequency entered, in respect of the original loan parameters entered, namely amount, annual interest rate and term in years.Calculator Assumptions
Length of Month
All months are assumed to be of equal length. In reality, many loans accrue on a daily basis leading to a varying number of days interest dependent on the number of days in the particular month.Number of Weeks or Fortnights in a Year
One year is assumed to contain exactly 52 weeks or 26 fortnights. This implicitly assumes that a year has 364 days rather than the actual 365 or 366.Rounding of Amount of Each Repayment
In practice, repayments are rounded to at least the nearer cent. However the calculator uses the unrounded repayment to derive the amount of interest payable at points along the graph and in total over the full term of the loan. This assumption allows for a smooth graph and equal repayment amounts. Note that the final repayment after the increase in repayment amount.Rounding of Time Saved
The time saved is presented as a number of years and months, fortnights or weeks, based on the repayment frequency selected. It assumes the potential partial last repayment when calculating the savings.Amount of Interest Saved
This amount can only be approximated from the amount of time saved and based on the original loan details.Calculator Disclaimer
The results from this calculator should be used as an indication only. Results do not represent either quotes or pre-qualifications for the product. Individual institutions apply different formulas. Information such as interest rates quoted and default figures used in the assumptions are subject to change.Loan Calculator
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Calculator Disclaimer
The repayment amount shown using this calculator is an estimate, based on information you have provided. It is provided for illustrative purposes only and actual repayment amounts may vary. To find out actual repayment amounts, contact us. This calculation does not constitute a quote, loan approval, agreement or advice by the banks. It does not take into account your personal or financial circumstances.