What is eligibility for personal loan?

 Personal Loans are an unsecured form of multipurpose credit, which may be used to cover a number of personal expenses. 

You can acquire a personal loan by qualifying with preset eligibility criteria, which are minimal. The basic eligibility for personal loan criteria are as follows.

Age - Your age becomes an important criterion as a measure of your ability to repay a Personal Loan. As a rule, you will not be denied a loan if you are a salaried person aged between 21 to 58 years. 

On the other hand, if you are a self-employed professional, your age must be between 25 to 65 years.

Employment - Your term or period of employment becomes a measure of your reliability to repay a loan in time. Personal loans for salaried employees’ criterion dictates that you must be working for an MNC or a Private or Public Limited Company with a minimum work experience of 2 to 3 years. 
 Likewise, self-employed professionals must have a minimum of 3 years of experience for personal loan eligibility.

Income - The minimum salary required for a personal loan as an income criterion for eligibility differs from lender to lender.
 Your personal loan minimum salary starts from Rs. 20,000 per month.

Credit Score - Lenders assess your creditworthiness or ability to repay a personal loan by accessing your credit score, which derives from your credit history in your credit report.
 Your credit score affects the loan amount, period of credit, interest rate, and terms that you are offered.

Who is direct selling agents in India and What is a Eligibility of DSA?

The Direct Selling Agents or the DSA are the professionals trained and are given the necessary skills that will be needed for them to improve in the field and generate tons of leads. DSA works has always been to generate more leads to earn more income.

 Hence each loan partner is taught to generate as many leads as they can and earn as much as they wish to. DSA loan partners are also called as Direct Selling Agents in India .

 Eligibility for DSA: 

If you are an Indian citizen over 18 years of age, you can join our agency and be part of this loan agency program.

You can be a Individual working in a company/organization where you have to take care and manage work in a certain way.

In our partner program, you will be doing the same thing as you will administer and govern DSA work as per our set rules.

Car Refinance Loan In India - Eligibility, Benefits

 Many people choose to refinance their car loans to change the term of the loan. If the loan maturity period is extended, you will be able to repay the loan over a longer period of time. If the goal is to reduce the loan tenure, you will have to pay more EMIs in a shorter period. Before deciding to refinance a car loan, it is therefore advisable to consider the purpose of the refinancing.

Eligibility for refinancing

There seem to be no minimum eligibility criteria to obtain refinancing of a car loan in India. However, according to market practice, the new lender will consider the following factors when deciding on your loan refinancing application.

Credit score: Your credit score is an indicator of your financial health. As with any loan application, the success of your auto loan refinance application will also depend on how good your credit score is. Lenders usually expect a better credit score compared to the score you had when you took out the original loan.

The car should be worth something: Lenders usually check the condition of the vehicle before deciding to grant a refinanced loan. The age and mileage of your vehicle are factors to consider.

You have not defaulted on your current loan: No one wants to lend money to someone who has no repayments. So, if you are currently behind in your EMI payments to an existing lender, chances are that you are unable to find a bank to refinance the loan.

Benefits of refinancing your car loan

The decision to refinance your car loan in India depends on a number of factors. Before you decide to refinance your loan, you should consider each of these factors. Car loan refinancing can be beneficial in the following situations:

Interest rates have lowered: Due to the fluctuations in the economy, it is possible that you come across a car loan with a significantly lower rate of interest compared to the rate of interest currently paid by you. In order to reap the benefits of a lower rate of interest, you can choose to refinance the loan.

Credit score has improved: Each loan application depends on the individual’s credit score and further decides the terms of the loan. Chances are, your credit score has improved significantly since you took out the car loan. In such cases, refinancing your car loan will give you access to better terms.

Changing the tenure of the loan: Due to changing circumstances, you can change the repayment of the loan accordingly. Refinancing a car loan can help in cases where you can increase or decrease your holding according to your needs.

Role after becoming a loan DSA agent - Ruloans

 Many banks and fintech companies hire Loan DSA Agent, allowing them to work at their own speed and at different times. DSAs at the bank are self-employed individuals who have full control over their working hours. However, they have to establish contacts and provide loans to banks. Loan officers typically sell mutual funds, home loans, personal loans, business loans and other credit services as part of their overall profile. The basic task of each DSA is to collect relevant documentation and carry out a primary assessment. A specific procedure must be followed when applying for a loan. 

The application is then sent to the bank or NBFC they are affiliated with. DSA loan officers are also responsible for assisting the local bank branch or office and the applicant until the loan application process is complete. This will speed up the whole process and save the bank a lot of time. The bank/financial institution you are applying for as a DSA Loan will provide you with a manual or training program. The procedure and documentation required for each type of loan provided by the bank you work with will be explained to you. You can quickly learn these methods and start earning a commission on loan applications that you submit to the branch of the bank where you are affiliated.

Personal Loan in Gujarat— Features, Benefits

 The economy of Gujarat, a state in Western India, has significant agricultural as well as industrial production within India but people battling income shortage after the lockdown of 2020, the uptakes of personal loans went up, along with the average ticket size. According to a report by credit bureau, CRIF Highmark, personal loan ticket size in Gujarat went up 25% after the pandemic year .

If you are living in Gujarat and want to know how much you would get if you apply for a small personal loan here then this article will help you know everything.

Personal loan in Gujarat - Features and Benefits.

Here are some of the Features and Benefits of personal loan in Gujarat :

1. Flexibility of use — A significant advantage of a personal loan is its flexible nature. Unlike a car or home loan, this financial resource can be used for any necessity, without limitations. In other words, the amount you borrow can be used to finance a wedding, travel, education, medical expenses; purchase jewelry, electronic gadgets, etc. Put simply, it’s an easy way for you to get out of the immediate cash crunch you’re in.
2. Quick Disbursal — Pre-approval is usually quick. Meeting the eligibility criteria is key when it comes to a quick handout of a personal loan. Having a good credit score is a definite advantage. The time for disbursal depends on the bank or lender but it’s generally within 24 hours; or 72 hours at most. This makes it your best bet in an emergency. You may even be eligible for instant online approval if you are an existing customer of the bank you’re applying to.
3. Fewer Documents — To get an approval for a personal loan, only a limited number of documents are required. This makes it faster to process. With an online approval, you will be required to upload scanned documents for verification, after which you will be granted the loan within minutes. This makes it a truly hassle-free process and you can get out of the financial crisis you are in faster than you think.
4. Minimal paperwork — As with documents, the paperwork that needs to be completed is minimal. This adds to the swiftness of the procedure. If you have any queries, the customer care department of your home branch is there to assist you. They may even send an agent to your location to help with the paperwork.
5. No Collateral Needed — If you qualify and are eligible for a personal loan, you will not need to present any collateral. Thus your assets remain safe. If you do not own any assets, this is a definite advantage. Since it is unsecured, a personal loan is considered the best form of gaining urgent financial assistance. Get the initial steps sorted and you are good to go!
6. Pocket-friendly repayment — To repay your personal loan, you can opt for EMIs, instalments, post-dated cheques, online payment, etc. Typically, flexible tenures are available and you can choose one that suits you best. The longer the tenure, the lower the EMI, and vice versa.
7. Attractive Interest Rates — Personal loans come with attractive interest rates, which make them easily affordable by all. This ensures your EMI remains fixed for the entire tenure of your loan. So there’s no need to worry about ever-fluctuating interest rates that characterise other types of loans.

A Personal Loan Measure Up For All Your Financial Needs - Ruloans

  The rise in the cost of living and other major expenses have constantly been a case of concern. From rising fuel costs to escalating prices of goods and commodities, it’s becoming a challenge to put aside a portion of your savings to meet your uncertainties and future goals. To free you from the fettered financial chains and guide you to meet your significant expenses with impacting your financial health — a Personal Loan comes to your rescue!

Forms of major Personal Loan

An instant personal loan is perhaps the best invention in the past decade for every working individual. This is a debt given by Banks to any eligible individual for a shorter tenure at specific interest rates. Today you can get a, –

• Personal loan for a salaried employee (Almost every lender provides this service)
• Personal loan for self-employed (more than 50% of lenders provide this service)

To get personal loan in Mumbai website Ruloans website.

Join loan partner program with Ruloans

 Today, the market is trying to revive back in India. People are trying to restart the right way so they can secure their family’s future. Many are looking for jobs where they can become their boss.

As job security is not guaranteed anymore, we have a solution where Builders, Real estate agents, and Chartered accountants can help many people get their dream job opportunities and earn a side income.

After you join Loan Partner Program, your task will be to either,

• Find clients that need a loan and provide their details to us (Refer N Earn) or
• Find clients that need a loan. Take their details, complete their whole loan application form, get the documents, and submit the whole case file to us (Ruloans Partner Program).

In both cases, you will be paid a handsome payout. For your information, agents at the Ruloans Partner Program will get a higher payout than that of “Refer N Earn“.

Advantages of Becoming a DSA loan Agent with Ruloans

 Becoming a DSA loan agent has many advantages. A DSA plays a crucial role in the lending ecosystem. A DSA helps the banks and NBFCs find appropriate borrowers. A DSA helps borrowers find an appropriate bank that is willing to lend them money. And lastly, it helps them to make money for themselves. And nowadays anyone can become a DSA: a housewife, a working professional, a self-employed, etc., and they can make extra money on the side.

• You earn the best and biggest payouts in terms of commissions.
• You can work anytime you wish since DSAs work on flexible hours.
• You get to be your boss as a DSA.
• You don’t require an investment, a bank guarantee, or a security deposit to operate a highly lucrative career.
• If you’re someone working for a bank, you have the opportunity to access the Ruloans’ Partner Banks, and Associate NBFCs database for better customer service
• As a Ruloans Agent, you receive Recognition as a Channel Partner of a National Loan Distribution House.

How to refinance a car loan from Ruloans?

 Did you know that your car can help you in emergencies?

No, we are not talking about selling it off in order to raise money. The solution we are offering will not only help you get the money you need but also continue to own your car. The solution is “Car Refinancing”. With this solution, you can keep driving the car of your dreams.

What is Car Refinancing?

Car Refinancing is one kind of a loan where you can pledge your car as collateral with the Bank/NBFC. Your car will be evaluated first and accordingly a certain value will be given to you as loan amount. You can use this amount to clear all your problems or any financial obligations. After checking your eligibility and the verification on your vehicle, the Bank/NBFC will derive the terms on your loan. Depending on the condition of your car and its age, you can get good rates of interest.

Why apply via Ruloans?

Ruloans has been in the loan industry since the past decade. In these last 10 years, we have gained a lot of experience and help our customers in borrowing the right amount. Our motto is to provide services to our customers which are much more than money. We help our customers get the loans as per their needs and these services are provided “Free of Cost”.

Click here to know more....

Eligibility Criterion to become Loan DSA

 There is no academic qualification needed to become a bank loan agent. Even a business owner or a working professional can take up the role and work in their spare time. The most important of all is to have a liking towards the work profile. If you are willing to extend a helping hand to those looking for funds, then this role is certainly cut out for you.

Benefits availed by a bank DSA –

• Be your own business
• Earn impression payout as a commission
• Get to be a part of high profile finance industry
• Can work during flexible hours
• Slab-wise incentives offered
• Freedom to develop professional contacts
• Doesn’t require you to invest anything
• Work as a DSA while pursuing your business or job at the same time

To become Loan DSA in Mumbai you can visit Ruloans website

Pick Up the Best Car Loan from Ruloans

 Owning a car is no longer considered a privilege, it is more of a necessity today. With the market flooded with a plethora of car refinance options, consumers in India generally have a tough time selecting the right kind of loan for themselves. An ideal car loan deal would include benefits like low-interest rates, flexible tenure options, flexible monthly instalments options and the feature to choose either a fixed or floating interest rate, as per the need of the customer.

Picking the right type of car loan can be a difficult task. But knowing what is required according to the type of car purchased will always help a borrower make the correct decision. 

Learn more about how to pick up the best car loan from Ruloans.

How to Become Loan Agent?

 A Loan agent is responsible for helping consumers secure a loan whenever in need. He or she helps you connect with a lender, takes care of the primary process and manages the vital aspects of money lending. They also collect the documents and verify them to ensure authenticity.

Loan agent are also referred to as Direct Selling Agents or DSA’s. Their main purpose is to help connect individuals looking for funds with loan providers and assist them throughout the process. They are also responsible for carrying out the fundamental checks for ensuring that the individuals seeking the loan comply with the guidelines. This ends up benefiting all the parties involved in the entire process.

To become Corporate DSA in Mumbai you can visit Ruloans website

Corporate DSA in Mumbai -Loan DSA as Great Business Opportunity

 The majority of individuals do not prefer to work under anyone's supervision and prefer to be their own boss. It is not uncommon for many of us today to dream of starting their own business, such as a restaurant, retail store, etc. By becoming a survival loan, you have the opportunity to make this wish come true. There are many benefits associated with a DSA loan. 

By having a Corporate DSA in Mumbai from any reputed financial lender, you become a business partner, and by putting your effort and time in it, you will get more money. You can manage your working hours according to your flexibility, generate as many leads as you want, and earn commission for every successful referral. 

Benefits of Becoming a Loan DSA

• Regardless of your current experience, you can become a Loan DSA and earn extra income. 

• You are recognized as a channel partner of reputable financial lenders offering loans nationwide 

• An ideal opportunity to become an entrepreneur. You can close and keep your business at no extra cost and without unnecessary risk 

• You can work according to your flexibility. You may also want to work part-time 

• You do not need an initial deposit to become a DSA agent 

• You may also choose to undertake a DSA in your current job or job search. 

Features of Car Refinancing - Ruloans

 Car refinancing is a type of secured mortgage loan. You can get funds from a bank or NBFC of your desire by keeping your car as collateral. Interest rates in car refinancing are similar to personal loan but it requires much fewer documents compared to other mortgage loans. Car refinance loan is used to solve your current financial needs by mortgaging a car you already own. You can get a loan by refinancing your car without any hassle and quickly. The loan process is much simpler and faster compared to other loan types.

If you are what exactly are car refinancing and its features, read further

• Almost all leading banks and NBFCs offer car refinancing.

• The tenure for car refinancing loan ranges from 12 months to 60 months (1 year to 5 years).

• Banks and NBFCs approve and disburse the loan quickly upon the valuation of car.

• You don’t require disclosing the reason behind you taking the loan.

• You need to provide RC book and insurance copy of your car to your lender.

• The car which will be kept as mortgage should not be more than 10 years old.

• You should be of minimum 24 years and maximum 65 years old while taking the loan.

• You cannot mortgage your commercial vehicle or the vehicle which is in use for commercial/business purposes.

• Your car should not have run more than 1,00,000 miles.

• If your car is modified or was bought from a non-standard manufacturer, you won’t get a car refinancing.

• You can repay your car refinancing loan by Equated Monthly Installments (EMI).

• You can use your car while it’s being kept as collateral to the bank or NBFC.

Click here.........

DSA Loan partner program for Business Loan

 

What is a business loan?

Business loans are loans given out to specific individuals that are either running their business or plan to start up their own venture. Such loans help these visionaries with the capital that is required in the day to day running activities. With the loan amount, one can not only set up their business but also compete with other players in the market and earn profit.

There are so many business persons in India that business loans are now becoming very popular. With such demand for this loan product, Banks and NBFCs have lots of opportunities to convert many customers and help them build their dream. One such way of doing this is through a partner program.

Why join Ruloans partner program for business loan?

We at Ruloans have been in the loan industry for over a decade. We know how the industry works, the process, the timelines and also how quick payouts matter a lot to the partners. Hence we have come up with a special partner program for agents that specially deal in business loans. As a business loan partner you have to seek salaried individuals who might be in need of a business loan.

How do I join the partner program?

You can simply join the business loan dsa partner program by Ruloans through filling in your details on this form. Once you apply for the partner program, we will set up an appointment with you and discuss how the business can be taken to new heights. Grow your income and career by taking this excellent opportunity. Apply today.

Read more......

Become A Ruloans DSA - Loan DSA Partner Registration

 Direct selling agents or DSA are the people who work on commission basis to collect potential clients of banks for loans and various other types of products. The daily subsistence allowance requirement is constantly increasing, as more and more people are looking for loans to realize their dreams in life. Looking for the best deals and a faster and above all easy solution to their financial needs, people are always looking for people and lenders who can help them. In this competitive era where banks are taking their chances, the debt sustainability analytics function for loans becomes more important as banks are always looking for new customers among them, thus here loan dsa partner registration with such organizations comes into picture.

Loan DSA offers endless opportunities and allows you to reach your heavenly limits. But it means working hard in a place you are grateful for. Work harder for your benefit. There are always options open and there is always a way out for those who are constantly looking for a way out! Instead of becoming a lending DSA for banks, why not join a lending DSA by partnering with a fintech company and working more as a colleague rather than an employee?

There are a number of corporate dsa in mumbai that are constantly offering the option to join those interested in lending DSAs. Since working as a lending DSA with a FinTech company is a collaborative program where you are not covered by them as an employee, there are no such workload and restrictions. Fintech companies instead offer people looking for a lending DSA program to join their program and make progress with them.

Advantages of becoming a Loan DSA 

• A chance to collaborate with them in an associate manner, where you are the Boss of your own

• You have the complete freedom in carrying things in your own way

• You don't have to meet any targets

• You have the flexibility in the working time; work during the time, you like the most

• Much better commission as compared to the banks

• Opportunity to become an entrepreneur

• Business setup at zero investment

• More Money and better progress chances for the better of your own

• Better remuneration and benefits attached with the business

• No Prior Knowledge needed to start this venture of your own

• Loan DSA Program with Ruloans

Personal Loan in Mumbai – Features, Benefits and Eligibility

 Mumbai is India's economic capital and is the focus of all important economic activity underway. As a result, top-tier financial lenders make first-class offers available to eligible citizens in the city.

Mumbai personal loan is one of the facilities that are selling like hot cakes. A fast personal loan in Mumbai is easy to apply, the amount you can borrow is high and much more. If you are living in Mumbai and want to know how much you would get if you apply for a small personal loan here then this article will help you know everything.

 

Personal Loan in Mumbai – Features and Benefits

The instant personal loan facility in Mumbai is loaded with so many attractive features and benefits that it can help you meet your urgent and other needs.

Medical Emergency

Emergency personal loan to cover incidental and unforeseen expenses.

 Travel Loan

Personal travel loan to cover holiday or vacation expenses.

 Wedding Loan

Meet wedding expenses with a personal wedding loan for a special occasion

 Debt Consolidation

Pay off old debts and reduce interest payments with a personal debt restructuring loan

 Home Renovation

Personal loans for home improvements to upgrade and improve your home.

 Education Loan

Get higher education with a Personal Education Loan to cover your expenses.

 

Personal Loan in Mumbai – Eligibility Criteria

The term loan eligibility refers in general terms to your assets or ability to qualify for a personal loan from a bank or NBFC. Lenders use the eligibility criteria as a benchmark to decide on the amount of money to borrow based on your financial credentials such as your income, other obligations, additional source of income, etc. depending on your age, which determines the duration of your personal loan.  Income and age are not the only criteria for determining eligibility for a loan. Combinations of other factors, such as your employment, CIBIL score, etc., are also used to determine your personal loan eligibility. The required eligibility criteria are listed below.

• Your age is an important measure of your ability to repay a personal loan. As a general rule, you can avail the facility of a personal loan if you are aged between 21 and 60.
• If you a salaried individual, you are eligible for a personal loan.
• The period of your employment is a measure of your credibility to repay your loan on time. Personal loans for salaried employees states that they should be working for a multinational corporation, private or public limited company with at least 2-3 of work experience.
• The minimum wage or income required for a personal loan to qualify is different for each borrower. As a person with a salary you must have a minimum wage of Rs. 15,000 per month.
• Lenders access credit scores derived from the credit history of credit reports to assess the ability or creditworthiness of a personal loan. Your credit score affects the loan amount, credit period, interest rates, and terms offered. The credit score (CIBIL) must be 650 or higher.

Personal Loan in Mumbai – Documents Required

At Ruloans we do everything we can to make your loan process run smoothly. The documents required for a personal loan are minimal. We request that you provide the correct information and documents so that your application for a personal loan can be processed as quickly as possible. Below you will find the necessary documents.