Recent times have witnessed a rise in the percentage of consumers who avail Personal Loans for their purchases, particularly the big-ticket ones. They are also converting their purchases into equated monthly installments (EMIs). To put it simply, a Personal Loan in Vizag offers by banks and non-banking financial companies (NBFC) to meet their personal needs, including higher education, medical contingencies, vacation, and so on. One can apply on the basis of some key criteria such as income level, credit and employment history, repayment capacity, etc.
Being an unsecured loan, the borrower does not put up collateral like gold or property. however, due to the greater risk perceived when sanctioning them, the interest rates on Personal Loans are higher than those on others due to the higher perceived risk when sanctioning them.
Vizag is the largest city and financial capital of the Indian state of Andhra Pradesh. One of the 100 fastest growing cities in the world, Vizag has been witnessing a major boost in the IT sector, which has in turn, facilitated the growth of the local economy. The fishing harbor is one of the oldest and largest in the city, which provides livelihood for a large number of people. Besides the fishing industry, road-rail connectivity, as well as heavy industries like Vizag Steel, GAIL, Hindusthan Shipyard, Visakhapatnam Steel Plant, etc. have transformed the city into an industrial hub from a small hamlet. Since the city is replete with many tourist spots, tourism also plays a key role in generating revenue. There are Special Economic Zones (SEZs) and industrial corridors, besides heavy industries, minerals and resources, and the software industry.
Bajaj Finserv came into being in April 2007, when it demerged from its parent organization, Bajaj Auto Limited. Following the demerger, Bajaj Finserv independently ventured into the core businesses of Lending, Insurance, and Wealth Advisory. Currently engaged in consumer finance businesses, life insurance, and general insurance, it has plans of business expansion in terms of offering various financial products and services in India.
To meet the financial demands of consumers in Vizag, which is rising continually, Bajaj Finserv offers hassle-free Personal Loans, which you can apply for in no time at all. Simply fill in the application form and the Bajaj Finserv executive will get in touch with you within 5 minutes. Online tracking is a huge benefit to borrowers wherein once your loan is sanctioned, you can access your online loan account and check the current status of your loan, remaining tenor, outstanding principal amount, and interest charges. If you are a member of Bajaj Finserv, you will also be impressed by the exclusive offers that are announced from time to time. The borrower has to have a minimum net salary of Rs. 30,000 per month. He/she has to be a salaried employee of an MNC, public or private company with his/her age between 25 and 58 years. The necessary documents for availing Personal Loan in Vizag include salary slips of the previous 2 months, salary bank statement of the last 3 months, employee ID card, KYC identity proof and address proof.