Ensure your wedding celebration is stress-free by securing a Personal Loan of up to ₹30 Lakh, turning your dream of a grand wedding into reality. With features such as easy eligibility criteria, minimal paperwork, swift fund disbursal, and a flexible repayment tenure, our Personal Loans guarantee that nothing hinders you from creating memorable moments on your special day. Rest easy, as our wedding loans offer attractive interest rates, alleviating concerns about high EMIs.
| Interest Rates | 9.99%* p.a. onwards |
| Loan Amount | ₹1 Lakh to ₹30 lakh |
| Processing Fees | Up to 2% plus taxes |
| Lowest EMI per month | Starting from ₹2,124* per Lakh for 60 months |
| Loan Tenure | 12 – 60 months |
| Prepayment/Foreclosure Charges | 0%* If paid from own sources & 4% If paid from other sources |
| Default Interest | 3% per month |
| Repayment Instrument Dishonor Charges | ₹500 per bounce plus applicable taxes |
| Stamp Duty | At actuals (as per state) |
| Hidden Charges | nil |
Our goal is to offer quick and hassle-free financing, allowing you to focus on enjoying your wedding without any worries. The features and benefits of our Personal Loan for Marriage are designed to make your borrowing experience seamless.
Apply online for a marriage loan to easily meet all your wedding financial requirements. Our wedding loan eligibility criteria include:
Age:-22 years at the time of loan application and not more than 57 years
Citizenship:-The applicant must be an Indian citizen
Work Experience:- Salaried employees with 1 year of work experience
Monthly Income:-Starting ₹30,000, based on your city of residence
Note: The above-mentioned eligibility criteria are indicative. Additional criteria may be considered during loan processing.
Commence your wedding planning promptly by submitting the necessary documents for a Personal Loan:
Note: The listed documents are indicative; additional requirements may arise during the loan processing.
Indian weddings are typically grand and often come with substantial costs. Regardless of the scale, wedding expenses can easily exceed the budget. By opting for a Personal Loan for a wedding, you can effortlessly cover these expenses and repay the loan through affordable EMIs. Moreover, you have the flexibility to tailor your tenure according to your repayment capability.
Click on Apply Now and fill out your contact information.
Enter your date of birth, qualification, and residential address.
Submit and upload all the information for verification.
After your documents are verified, the loan amount will be disbursed instantly.
A Personal Loan for wedding expenses can be availed of to finance the expenses of a marriage ceremony. The funds can be used to cover the cost of decoration, accommodation, venue, catering, and more!
To ascertain your eligibility for a Personal Loan for a Wedding, visit our official webpage and review the outlined criteria. Alternatively, you can reach out to our online support team or visit the nearest branch for further guidance.
Applying for our Personal Loan for a Wedding is a straightforward and hassle-free process. Simply follow these steps:
Upon successful verification, the loan amount will be transferred to your bank account.
*Terms & Conditions Apply
Mangalam Industrial Finance Limited places a strong emphasis on providing a comprehensive Personal Loan solution for customers across various locations. The Personal Loan, an unsecured financial offering, assists individuals in fulfilling diverse financial requirements. Understanding the essential features of this loan is crucial before considering it as an option.
Our unsecured Personal Loan provides necessary funds without requiring any collateral, allowing you to retain possession of your assets.
Choose a repayment tenure between 12 to 60 months, offering flexibility aligned with your repayment capacity.
Avail of a Personal Loan at competitive interest rates, ensuring savings through lower Equated Monthly Installments (EMIs).
As an unsecured loan, Personal Loan documentation is streamlined, ensuring a straightforward and swift process.
Access a loan amount of up to ₹30 Lakh for various purposes, including medical expenses, home renovation, and higher education funding.
Enjoy the freedom to prepay the loan without incurring additional charges when paid from your own sources.
Transparent loan conditions with no hidden charges; you only pay what has been clearly communicated.
Streamlined loan processing with minimal eligibility criteria ensures instant approval and swift disbursal.
Leverage technology for a simplified online application process, making it easy to obtain a Personal Loan.
With versatile usage options, a Personal Loan can cater to various expenses such as:
Applying for a Personal Loan is convenient and can be completed in three simple steps:
Step 1: Click on the ‘Apply Now’ button.
Step 2: Fill in the required details on the loan application form.
Step 3: Upload necessary documents.
Upon successful verification, the loan amount will be disbursed directly into your bank account.
It is an unsecured financial offering for meeting personal expenses without restrictions.
No collateral or assets are required for this unsecured offering.
Common reasons include medical bills, debt consolidation, higher education funding, and home renovation.
Quick approval and disbursal can happen within one working day for applicants with a good financial profile.
Depending on your profile, you can qualify for a sanction of a Personal Loan up to ₹30 Lakh.
Yes, the entire application and disbursal process happens electronically once you apply online and receive approval.
Mangalam Industrial Finance Limited offers Personal Loans with features like the lowest interest rates, zero pre-payment charges, a completely online process, and full transparency, prioritizing your convenience for a comfortable borrowing experience.
*Terms & Conditions Apply
Mangalam Industrial Finance Limited presents a hassle-free Personal Loan option with straightforward eligibility criteria and minimal documentation. Apply for the loan to secure a substantial amount at a competitive interest rate with just a few clicks. Ensure a seamless application process by accurately submitting all required documents.
Qualifying for Mangalam Industrial Finance Limited's Personal Loan is convenient, as there is no extensive eligibility checklist. The streamlined eligibility process facilitates quick loan approval, minimizing potential delays in disbursing the loan amount. Personal Loan Requirements:
| Factor | Personal Loan Requirements |
|---|---|
| Age | Applicants should be between 22 and 57 years old at the time of application. |
| Citizenship | Applicants must have Indian citizenship. |
| Employment | Applicants must have a full-time job at Central Govt, PSU, MNC, Listed, Unlisted Public Ltd, Pvt Ltd, LLP, or companies listed internally. |
| Work Experience | Applicants must have at least 1 year of job experience and at least 1 month of stable employment at the current job. |
| Monthly Income | Monthly net take home salary of at least ₹30,000. |
Additionally, a good credit score and credit history are required. Meeting these criteria ensures a swift online Personal Loan approval.
| Document Category | Personal Loan Documents Required |
|---|---|
| KYC Documents | PAN Card/Aadhaar Card/Driving licence/Voter ID/Passport |
| Current Address Proof | Passport/ Utility bills/ Rent Agreement |
| Income Documents | Latest salary slips for the last 3 months |
| Financial Documents | Bank Statement for the last 3 months |
| Employment Proof | Official mail ID confirmation /Employee ID Card (in case official mail ID confirmation is not possible) |
Note:Note: The provided list of Personal Loan documents is indicative, and additional documents may be requested during loan processing.
There are a lot of factors that affect your Personal Loan eligibility, such as:
Ensures borrowers can manage debt comfortably based on their working years.
More work experience signals financial stability.
Assesses affordability and disposable income after considering existing obligations.
A critical factor depicting creditworthiness and timely repayments.
Visit the official Mangalam Industrial Finance Limited website and navigate to the 'Eligibility and Documents' tab for detailed eligibility requirements.
Indian citizenship, age between 22 and 57, monthly income of at least ₹30,000, 1 year of job experience, and 1 month of current job continuity.
Basic KYC, income, financial, and employment-related documents. Find the complete list on the eligibility and documents page.
No, salary slips are mandatory for the Personal Loan application process.
Latest salary slip and last 3 salary credit bank statements in original PDF format, not older than 15 days.
Lenders consider credit score, income stability, debt-to-income ratio, loan amount, existing financial obligations, repayment history, and the borrower's relationship with the lender.
Yes, a No Objection Certificate (NOC) can be obtained after settling the loan, confirming the closure of the loan account and fulfilment of all financial obligations.
*Terms & Conditions Apply
A Personal Loan is a collateral-free loan that offers borrowers funds without the need for security. The borrowed amount can be repaid to the lenders in monthly instalments over the loan period, also referred to as the 'term.' Prioritizing affordability is crucial when considering a loan.
Opting for Mangalam Industrial Finance Limited’s Personal Loan provides access to cost-effective loans with competitive interest rates tailored to your profile. Secure a Personal Loan at an attractive interest rate, free from hidden charges, and enjoy even more favourable terms with a strong financial profile.
Recognizing the significance of affordability, Mangalam Industrial Finance Limited offers Personal Loans with attractive interest rates. Starting at 9.99%* p.a., our rates are among the most competitive in the industry, making them a prudent choice. Apply at Mangalam Industrial Finance Limited to avail yourself of competitive interest-rate Personal Loans in India.
Processing fees for Personal Loans vary among lenders. Regardless of whether you choose an online Personal Loan or another type, administrative charges are applicable. Mangalam Industrial Finance Limited ensures minimal processing fees, ranging between 0% and 2% of the loan amount plus taxes, to keep your costs low and savings optimal.
Personal Loan pre-payment charges can impact potential savings. Mangalam Industrial Finance Limited's Personal Loan, however, has zero prepayment or foreclosure charges if paid from its own sources. A 4% prepayment or foreclosure charge is applicable if paid from other sources. Coupled with low charges, we offer low-interest Personal Loans in India.
Mangalam Industrial Finance Limited’s Personal Loan is devoid of hidden charges. Transparency is paramount, and all charges and conditions, from processing fees to administrative fees, are clearly communicated during the loan transaction process.
Missing EMI payments during the loan tenure attracts a late payment penalty:
Planning your loan is vital for smart borrowing. Use our Personal Loan EMI Calculator to simplify calculations and determine the interest amount to be paid based on the latest Personal Loan interest rates. Apply at Mangalam Industrial Finance Limited and secure an attractive interest rate on your Personal Loan.
The interest rate for a personal loan can vary depending on a number of factors, including your credit score, the amount you're borrowing, the lender you choose, and the loan term.
Check your credit score:Lenders use your credit score to determine your creditworthiness, and a higher score can help you secure a lower interest rate. Make sure your credit report is accurate and dispute any errors.
Choose a shorter loan term:A shorter loan term typically comes with a lower interest rate, as the lender takes on less risk.
Improve your credit score:
If your credit score is low, take steps to improve it before applying for a personal
loan. Pay your bills on time, pay down credit card debt, and avoid applying for new
credit.
Using the loan amount and the interest rate offered to you, you can calculate your
monthly payments to plan your budget in a better way. The following formula is used
to
calculate the EMI amount on your Personal Loan.
Here's the formula for calculating the interest:
E = [P x R x (1+R) N] / [(1+R) (N-1)]
Where,
| Personal Loan Interest Rates | 9.99%* p.a. onwards |
| Loan Amount | ₹1 Lakh to ₹30 lakh |
| Loan Processing Fees | Up to 2% plus applicable taxes |
| Lowest EMI per month | Starting from ₹2,124* per Lakh for 60 months |
| Loan Tenure | 12 – 60 months |
| Prepayment/Foreclosure Charges | 0%* If paid from own sources & 4% If paid from other sources |
| Default Interest | 3% per month |
| Repayment Instrument Dishonor Charges | ₹500 per bounce plus applicable taxes |
| Stamp Duty | At actuals (as per state) |
| No Other Hidden Charges | |
Several factors, including income, credit score, employment status, credit history, existing debt, and relationship with the lender, are assessed to determine the most appropriate interest rate. Mangalam Industrial Finance Limited offers competitive Personal Loan interest rates based on financial stability, credit history, and income status.
Here are the different factors that affect the Personal Loan interest rate & charges.
There are two types of Personal Loan interest rates: fixed and floating.
Fixed Interest Rate -
Remains constant
throughout the tenure, suitable for those who prefer stability. However, it
may cost slightly more than a floating-interest-rate loan.
Floating Interest Rate -
Changes based on
the financial market, suitable for those comfortable with some risk.
Interest rates may increase or decrease based on market fluctuations.
Apply at Mangalam Industrial Finance Limited to secure competitive Personal Loan interest rates in India.
A Personal Loan with a low-interest rate is ideal for achieving specific goals without straining your budget. Maintaining a high credit score, exploring pre-approved offers, ensuring a stable income, and choosing the right mix of principal and tenure are key considerations. Follow these tips to secure Personal Loans at a low-interest rate.
Following are some points that you need to bear in mind for getting a Personal Loan at a lower interest rate:
The current interest rates on Mangalam Industrial Finance Limited’s Personal Loans start at 9.99%* p.a., subject to various factors like income, credit score, employment, and existing obligations.
The processing fee for a Personal Loan is a charge incurred for the assessment and processing of your loan application. It varies from 0% to 2% of the approved loan amount. It's essential to note that since the processing fee is a service charge for a Personal Loan, an additional tax amount is applicable.
To secure a Personal Loan with a reduced interest rate, consider the following:
Your Personal Loan Rate of Interest (ROI)
determines the monthly EMIs
for
loan repayment. While the lending institution sets the interest
rate,
you can calculate the interest component using the following
formula:
A = P (1 + r/n) nt
Where,
P = Principal amount
r = rate of interest
n = number of times interest is compounded every year
t = time (in years)
You have the flexibility to foreclose your Personal Loan at any time before the designated tenure concludes.
No charges or penalties are applicable for foreclosure payments on a Personal Loan from Mangalam Industrial Finance Limited. However, it is crucial to note that for this benefit to be applicable, the payment must originate from your own funds.
Similar to foreclosure, you have the option to make a partial prepayment at any time before the tenure reaches its conclusion.
*Terms & Conditions Apply
There are three key components that you should keep in mind while using the Personal Loan EMI calculator online. You can get accurate results by changing these values based on the loan terms offered to you for planning your loan accordingly. Here is a quick guide:
Loan Amount - This is the loan sanction you want or have been approved by the leader. During the planning phase, you should enter the amount you want to borrow. Do note that you can enter the values for the loan amount numerically or by using the slider feature on the calculator.
Interest Rate - Interest rate can be calculated easily using the Personal Loan interest rate calculator. Generally, it starts at an attractive rate of 9.99%* p.a, but can vary based on your financial profile. Enter the interest rate accurately, as it dictates your interest payable and the EMI amount.
Tenure - Personal Loan tenure implies loan repayment duration and is a factor you should plan for very carefully. Choosing a short tenure reduces the interest payable but increases the monthly instalment amount as well. On the other hand, a long tenure reduces the EMI amount but also increases the interest on the loan. The ideal tenure has an acceptable EMI amount and total interest payable.
To borrow efficiently and optimally, you must plan your loan using an online Personal Loan calculator. This means knowing the amount you need, the tenure you’re comfortable with, and identifying the EMIs you can handle. Proper loan planning can be very helpful and is a must-do for all borrowers. When done right, it can save you money in the form of interest and keep you from making common, costly mistakes.
The EMI calculator for Personal loans is one of the best tools to aid this planning process. With it, you can easily calculate the interest payable and know your Personal Loan online repayment schedule within seconds.
Mangalam Industrial Finance Limited provides a Personal Loan EMI calculator to assist you in making informed selections based on reliable data. A Personal Loan calculator is a tool that allows you to calculate your EMI depending on a variety of scenarios. Multiple loan amounts and tenures can be chosen, and the appropriate EMI can be calculated in seconds. This is a free online tool residing on our website that makes borrowing a lot easier. It’s easy to use, accessible from our website, and incredibly user-friendly. Our digital solutions are meant to make borrowing more convenient, given how important it is to borrow wisely.
Step 1: Visit the webpage
Step 2: Enter the loan amount you wish to borrow
Step 3: Enter the interest rate offered to you
Step 4: Input the loan duration in years under the section ‘Tenure’
Step 5: Click on the ‘Calculate’ button
Step 6: Check the auto-generated results under ‘EMI Amount’
The personal Loan EMI calculator has numerous benefits, which help the borrower to plan the loan tenure easily. Here are a few benefits of the Personal Loan EMI calculator that you must be aware of as a borrower:
Planning the loan tenure - While applying for a Personal Loan, the EMI calculator helps in planning the Personal Loan tenure. It helps decide the time period that is suitable for the borrower.
Planning the loan repayment - Timely repayment is considered a healthy financial habit for a borrower. It helps create a good image of the borrower in the lender’s eyes. Also, it helps in maintaining a good credit score. Using the Personal EMI calculator directly assists you in planning the Personal Loan repayment schedule.
Easy to use - Personal Loan EMI Calculator is easy to use, allowing you to understand factors such as loan tenure, loan repayment, monthly EMI, etc. Prior to applying for a Loan, it is advisable that you should use the Personal Loan EMI Calculator.
A Personal Loan EMI calculator is used for calculating EMIs. You can calculate your Personal Loan EMI using the below-mentioned methods:
Online calculator - The easiest and quickest approach to get accurate answers is to use the Personal Loan EMI calculator. All you have to do to calculate Personal Loan EMI is to enter the loan amount, tenure, and interest rate. The result will be generated almost instantly.
Online EMI calculators can be a great way to determine your monthly EMIs without manually calculating the amount. We offer an easy-to-use online EMI calculator on our official website to help you plan your loan amount informatively. To use the calculator, all you have to do is:
The tool will give an automated response to estimate your monthly EMI amount. For example, if your loan amount is Rs. 10,00,000, and you wish to repay your loan over a tenure of 5 years, your monthly EMI amount will be Rs. 21,198.*
Please note that the calculated amount is just an estimation of your monthly EMI on the basis of the information entered by you. Your actual EMI amount may differ based on other terms and conditions.
Microsoft Excel - This method necessitates using the Microsoft Excel application and the ‘PMT’ formula. Select a cell on the sheet, select a formula, and precisely enter the loan data into the following variables.
Manual calculation - Use the following formula to manually determine the EMI amount for a Personal Loan: E = [P x R x (1+R) N] / [(1+R) (N-1)] Where,
There are various factors that help in reducing EMIs on a Personal Loan such as opting for longer repayment tenure on the Personal Loan, getting a co-applicant with a higher income and credit score, etc. While you keep these factors in mind, you can choose a Personal Loan repayment calculator in India to calculate your remaining loan amount and Personal Loan tenure.
Here is a detailed description of factors that help in reducing EMIs:
Increasing Your Credit Score - Your credit score is one of the most important factors that can influence the interest rate on your Personal Loan. Lenders prefer loan applicants with good credit scores and offer lower interest rates to such applicants.
Choose a longer tenure - Consider extending the length of your Personal Loan to reduce your EMIs.
Make an effort to get a reduced interest rate - If the individual has
a
good working relationship with their lender, they may be able to negotiate a
lower interest rate on the loan. Banks/NBFCs may be willing to do so for
existing customers to increase brand loyalty and attract new customers.
Before trying any of these tactics, be sure to use a Personal Loan
calculator
and conduct a thorough cost-benefit analysis.
Personal Loan prepayment is where the borrower repays the Personal Loan prior to end of the pre-determined loan tenure. Generally, while taking a loan, the lender and borrower agree upon a pre-determined loan tenure. Loan tenure is the time that is given to the borrower to pay back the loan amount. In a few cases, lenders impose prepayment fees for early repayment. However, if there is no such clause in the loan agreement, you should repay the loan before ending the loan tenure. Also, this will help you in saving the existing EMI amount. To ensure that you pay the EMIs on time and know if you can repay the loan prior to the end of the loan tenure, you should use a Personal Loan prepayment calculator in India.
The current interest rates on Mangalam Industrial Finance Limited’s Personal Loans start at 9.99%* p.a., subject to various factors like income, credit score, employment, and existing obligations.
The processing fee for a Personal Loan is a charge incurred for the assessment and processing of your loan application. It varies from 0% to 2% of the approved loan amount. It's essential to note that since the processing fee is a service charge for a Personal Loan, an additional tax amount is applicable.
To secure a Personal Loan with a reduced interest rate, consider the following:
Your Personal Loan Rate of Interest (ROI)
determines the monthly EMIs
for
loan repayment. While the lending institution sets the interest
rate,
you can calculate the interest component using the following
formula:
A = P (1 + r/n) nt
Where,
P = Principal amount
r = rate of interest
n = number of times interest is compounded every year
t = time (in years)
You have the flexibility to foreclose your Personal Loan at any time before the designated tenure concludes.
No charges or penalties are applicable for foreclosure payments on a Personal Loan from Mangalam Industrial Finance Limited. However, it is crucial to note that for this benefit to be applicable, the payment must originate from your own funds.
*Terms & Conditions Apply
To be a well-informed borrower, it is crucial to comprehend all facets of loans, particularly Personal Loans. Borrowers might have queries, misconceptions, or a desire for more information regarding specific borrowing aspects. Below, we provide answers to the most Frequently Asked Questions (FAQs) pertaining to the Mangalam Industrial Finance Limited Personal Loan.
The process of applying for a Personal Loan with Mangalam Industrial Finance Limited is straightforward and expeditious. Simply adhere to the eligibility criteria, furnish the necessary documents outlined in the Personal Loan document list, and complete a user-friendly online application form.
Certainly, instant approval for a Mangalam Industrial Finance Limited Personal Loan is attainable. It's important to note that this perk is exclusively available to applicants who satisfy all the Personal Loan eligibility criteria.
Several factors influence the interest rate on a Personal Loan. To ensure the most favourable rate, consider the following tips:
The minimum loan amount available is 1 Lakh, while the maximum loan amount stands at 30 Lakh.
For a Mangalam Industrial Finance Limited Personal Loan, the minimum loan tenure is one year, with the maximum duration extending to five years.
The interest rate for Mangalam Industrial Finance Limited's Personal Loan commences at a competitive 9.99%* p.a. Additionally, a processing fee, equivalent to up to 2% of the sanctioned amount plus applicable taxes, is required for processing the loan application. For a detailed breakdown of applicable interest rates and charges, please refer to our dedicated webpage.
No, there is no extra charge or penalty for foreclosing your loan prematurely, provided that the payments are made using your own funds.
To obtain a Mangalam Industrial Finance Limited Personal Loan, only essential documents such as KYC documents, address proofs, income documents, etc., need to be submitted. The comprehensive list of required Personal Loan documents is accessible online.
*Terms & Conditions Apply
Mangalam Industrial Finance Limited is a Non-banking Financial Institution providing hassle-free loans. with easy and quick loan facilities. We aid our customers with financial solutions primarily for the purchase of Electric Two-Wheelers.
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