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Personal Loan Features & Benefits


Here are some main features and benefits of a Personal Loan from Cashkumar,

Main Features

  • Loan amount to be paid in equal monthly instalments over an agreed tenure
  • Interest can be flat or reducing depending on the type of loan
  • Have fixed terms which are specified beforehand detailing the amount, processing fees, interest, tenure and EMI


  • Can be used for a variety of individual needs and not attached to a specific purpose like buying a house or vehicle
  • Great offers are available for getting out of debt trouble by consolidating loans or shifting high interest credit card balance to a personal loan
  • Some institutions have flexible payment terms including zero part-payment and pre-closure charges
  • A range of options available to borrowers from short term salary advances to longer term loans depending on requirement
  • Higher debt burden ratio offered compared to formal financial institutions making it possible to take another loan

Best deals for Personal Loan

Personal loans are flexible instruments which can be tailored to the individual requirements of a borrower. There are 3 different categories with a variety of features which borrowers can choose from. These include:

Salary Advance

These are personal loans given as a sort of credit against salary and ideal for times when monthly income is inadequate to meet expenses. They serve well in emergencies but are not ideal for a rotation as the interest rates are high and tenure is short.

Short Term Personal Loan (minimum 90 days tenure)

A short-term loan is advanced for a period of 3 months to 12 months which is ideal for a smaller credit in circumstances like a quick advance for travel, medical emergency, home purchases and above all credit card payments. While at a slightly higher interest rate they help at a time of need and resolve difficult issues.

Long Term Personal Loan

Being the most known and used form of loans, they are availed for bigger requirements in life which can include needs like marriage expenses, debt consolidation and home renovation. The loan tenure is upto 6 years and amounts can go up to Rs. 25,00,000. The interest rates are quite reasonable with rates starting about 11%. This rate and amount approved though is given only to an elite set of borrowers.

The best loan deal for a borrower can depend on the offering and the situation of the individual. While a requirement for a person can be for a larger amount, a financial institution might not fulfil it due to debut burden policy. Short-term loans are a compliment to this as they are to loan rejects due to a previous default, financial exclusion or a high interest credit card/salary advance overhead.

Quick Personal Loans from Individual Lenders at low interest rates

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Get easy personal loans at interest rates starting from Individual P2P Lenders with customized offers.

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