{"id":399,"date":"2024-02-28T08:10:15","date_gmt":"2024-02-28T08:10:15","guid":{"rendered":"https:\/\/instantfunds.in\/blog\/?p=399"},"modified":"2024-02-28T08:33:15","modified_gmt":"2024-02-28T08:33:15","slug":"how-can-i-get-personal-loan-on-emi","status":"publish","type":"post","link":"http:\/\/instantfunds.in\/blog\/?p=399","title":{"rendered":"How Can I Get Personal Loan of 20k On EMI?"},"content":{"rendered":"\n<p>To obtain a personal loan with an Equated Monthly Installment (<a href=\"https:\/\/en.wikipedia.org\/wiki\/EMI\" data-type=\"link\" data-id=\"https:\/\/en.wikipedia.org\/wiki\/EMI\" target=\"_blank\" rel=\"noopener\">EMI<\/a>) repayment plan, you typically need to follow these steps: Determine the amount you need to borrow. Ensure it&#8217;s realistic and within your repayment capacity. Different lenders have varying eligibility criteria, including factors such as age, income, credit score, employment status, etc. Assess your eligibility against these criteria before applying. If you need personal loan then you can apply from<a href=\"https:\/\/instantfunds.in\/\" data-type=\"link\" data-id=\"https:\/\/instantfunds.in\/\"> Instant Funds<\/a> .<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"http:\/\/instantfunds.in\/blog\/?p=399\/#Check_your_eligibility\" title=\"Check your eligibility:\">Check your eligibility:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"http:\/\/instantfunds.in\/blog\/?p=399\/#Research_lenders\" title=\"Research lenders:\">Research lenders:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"http:\/\/instantfunds.in\/blog\/?p=399\/#Calculate_EMI\" title=\"Calculate EMI:\">Calculate EMI:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"http:\/\/instantfunds.in\/blog\/?p=399\/#Prepare_necessary_documents\" title=\"Prepare necessary documents:\">Prepare necessary documents:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"http:\/\/instantfunds.in\/blog\/?p=399\/#Apply_for_the_loan\" title=\"Apply for the loan:\">Apply for the loan:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"http:\/\/instantfunds.in\/blog\/?p=399\/#Verification_process\" title=\"Verification process:\">Verification process:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"http:\/\/instantfunds.in\/blog\/?p=399\/#Loan_approval\" title=\"Loan approval:\">Loan approval:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"http:\/\/instantfunds.in\/blog\/?p=399\/#Loan_disbursal\" title=\"Loan disbursal:\">Loan disbursal:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"http:\/\/instantfunds.in\/blog\/?p=399\/#Repayment\" title=\"Repayment:\">Repayment:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"http:\/\/instantfunds.in\/blog\/?p=399\/#Monitor_your_loan\" title=\"Monitor your loan:\">Monitor your loan:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"http:\/\/instantfunds.in\/blog\/?p=399\/#Approval_of_Loan\" title=\"Approval of Loan:\">Approval of Loan:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"http:\/\/instantfunds.in\/blog\/?p=399\/#Signing_Loan_Agreement\" title=\"Signing Loan Agreement:\">Signing Loan Agreement:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"http:\/\/instantfunds.in\/blog\/?p=399\/#Verification_of_EMI\" title=\"Verification of EMI:\">Verification of EMI:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"http:\/\/instantfunds.in\/blog\/?p=399\/#Disbursal\" title=\"Disbursal:\">Disbursal:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"http:\/\/instantfunds.in\/blog\/?p=399\/#Notification\" title=\"Notification:\">Notification:<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Check_your_eligibility\"><\/span><strong>Check your eligibility<\/strong>:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Different lenders have varying eligibility criteria based on factors like age, income, employment status, credit score, etc. Make sure you meet the requirements before applying.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/instantfunds.in\/blog\/wp-content\/uploads\/2024\/02\/pexels-ravi-roshan-14907356-1024x683.jpg\" alt=\"\" class=\"wp-image-400\" srcset=\"http:\/\/instantfunds.in\/blog\/wp-content\/uploads\/2024\/02\/pexels-ravi-roshan-14907356-1024x683.jpg 1024w, http:\/\/instantfunds.in\/blog\/wp-content\/uploads\/2024\/02\/pexels-ravi-roshan-14907356-300x200.jpg 300w, http:\/\/instantfunds.in\/blog\/wp-content\/uploads\/2024\/02\/pexels-ravi-roshan-14907356-768x512.jpg 768w, http:\/\/instantfunds.in\/blog\/wp-content\/uploads\/2024\/02\/pexels-ravi-roshan-14907356-1536x1024.jpg 1536w, http:\/\/instantfunds.in\/blog\/wp-content\/uploads\/2024\/02\/pexels-ravi-roshan-14907356-2048x1365.jpg 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Research_lenders\"><\/span><strong>Research lenders<\/strong>:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Compare interest rates, loan terms, processing fees, and other conditions from various banks, credit unions, or online lenders. Choose a lender that offers favorable terms suited to your financial situation.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Calculate_EMI\"><\/span><strong>Calculate EMI<\/strong>:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Use an online EMI calculator available on most lender websites or financial portals to estimate your monthly payments based on the loan amount, interest rate, and tenure. Ensure that the EMI fits comfortably within your budget. Utilize an online EMI calculator available on lender websites or financial portals. Input the loan amount, interest rate, and tenure to estimate your monthly installment amount. Ensure it fits comfortably within your budget.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Prepare_necessary_documents\"><\/span><strong>Prepare necessary documents<\/strong>:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/instantfunds.in\/blog\/wp-content\/uploads\/2024\/02\/pexels-ravi-roshan-8566288-1-1024x683.jpg\" alt=\"\" class=\"wp-image-401\" srcset=\"http:\/\/instantfunds.in\/blog\/wp-content\/uploads\/2024\/02\/pexels-ravi-roshan-8566288-1-1024x683.jpg 1024w, http:\/\/instantfunds.in\/blog\/wp-content\/uploads\/2024\/02\/pexels-ravi-roshan-8566288-1-300x200.jpg 300w, http:\/\/instantfunds.in\/blog\/wp-content\/uploads\/2024\/02\/pexels-ravi-roshan-8566288-1-768x512.jpg 768w, http:\/\/instantfunds.in\/blog\/wp-content\/uploads\/2024\/02\/pexels-ravi-roshan-8566288-1-1536x1024.jpg 1536w, http:\/\/instantfunds.in\/blog\/wp-content\/uploads\/2024\/02\/pexels-ravi-roshan-8566288-1-2048x1365.jpg 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Common documents required for a personal loan application include identification proof, address proof, income proof (salary slips, bank statements), employment details, and in some cases, guarantor details.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Apply_for_the_loan\"><\/span><strong>Apply for the loan<\/strong>:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>You can apply for a personal loan online through the lender&#8217;s website or visit their branch office. Fill out the application form accurately and submit the required documents.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Verification_process\"><\/span><strong>Verification process<\/strong>:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>After receiving your application, the lender will verify the information provided, including your credit score. They may contact you for further clarification or documentation if needed.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Loan_approval\"><\/span><strong>Loan approval<\/strong>:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Upon successful verification, the lender will approve your loan application and communicate the terms and conditions, including the interest rate, tenure, and EMI amount.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Loan_disbursal\"><\/span><strong>Loan disbursal<\/strong>:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/instantfunds.in\/blog\/wp-content\/uploads\/2024\/02\/pexels-karolina-grabowska-4968650-1024x683.jpg\" alt=\"\" class=\"wp-image-402\" srcset=\"http:\/\/instantfunds.in\/blog\/wp-content\/uploads\/2024\/02\/pexels-karolina-grabowska-4968650-1024x683.jpg 1024w, http:\/\/instantfunds.in\/blog\/wp-content\/uploads\/2024\/02\/pexels-karolina-grabowska-4968650-300x200.jpg 300w, http:\/\/instantfunds.in\/blog\/wp-content\/uploads\/2024\/02\/pexels-karolina-grabowska-4968650-768x512.jpg 768w, http:\/\/instantfunds.in\/blog\/wp-content\/uploads\/2024\/02\/pexels-karolina-grabowska-4968650-1536x1024.jpg 1536w, http:\/\/instantfunds.in\/blog\/wp-content\/uploads\/2024\/02\/pexels-karolina-grabowska-4968650-2048x1365.jpg 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Once you accept the loan offer, the lender will disburse the loan amount to your bank account. This process may take a few days depending on the lender&#8217;s procedures.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Repayment\"><\/span><strong>Repayment<\/strong>:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Start repaying the loan as per the agreed EMI schedule. Ensure that you have sufficient funds in your account on the due date to avoid late payment charges.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Monitor_your_loan\"><\/span><strong>Monitor your loan<\/strong>:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Keep track of your loan account through statements provided by the lender. If you face any issues or difficulties in repayment, communicate with the lender proactively to explore possible solutions.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Approval_of_Loan\"><\/span><strong>Approval of Loan<\/strong>:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>After reviewing your application and necessary documents, if the lender finds you eligible for the loan, they will approve your loan request.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Signing_Loan_Agreement\"><\/span><strong>Signing Loan Agreement<\/strong>:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Before disbursing the loan amount, you&#8217;ll need to sign a loan agreement that outlines the terms and conditions of the loan, including the interest rate, repayment schedule, fees, and other relevant details. Read the agreement carefully and ensure you understand all terms before signing.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Verification_of_EMI\"><\/span><strong>Verification<\/strong> of EMI:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Some lenders may conduct a final verification of your details before disbursing the loan amount. This verification may include confirming your employment status, income details, and other relevant information.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/instantfunds.in\/blog\/wp-content\/uploads\/2024\/02\/pexels-karolina-grabowska-4968382-1024x683.jpg\" alt=\"\" class=\"wp-image-403\" srcset=\"http:\/\/instantfunds.in\/blog\/wp-content\/uploads\/2024\/02\/pexels-karolina-grabowska-4968382-1024x683.jpg 1024w, http:\/\/instantfunds.in\/blog\/wp-content\/uploads\/2024\/02\/pexels-karolina-grabowska-4968382-300x200.jpg 300w, http:\/\/instantfunds.in\/blog\/wp-content\/uploads\/2024\/02\/pexels-karolina-grabowska-4968382-768x512.jpg 768w, http:\/\/instantfunds.in\/blog\/wp-content\/uploads\/2024\/02\/pexels-karolina-grabowska-4968382-1536x1024.jpg 1536w, http:\/\/instantfunds.in\/blog\/wp-content\/uploads\/2024\/02\/pexels-karolina-grabowska-4968382-2048x1365.jpg 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Disbursal\"><\/span><strong>Disbursal<\/strong>:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Once all formalities are completed and the loan is approved, the lender will disburse the loan amount. The disbursement method can vary depending on the lender&#8217;s policies. In most cases, the loan amount is directly credited to your bank account through electronic transfer. Some lenders may also provide a physical check or other methods of disbursal.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Notification\"><\/span><strong>Notification<\/strong>:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>After disbursing the loan amount, the lender will typically notify you about the disbursal details, including the amount credited to your account and any other relevant information. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>To obtain a personal loan with an Equated Monthly Installment (EMI) repayment plan, you typically need to follow these steps: Determine the amount you need to borrow. Ensure it&#8217;s realistic &#8230;<\/p>\n","protected":false},"author":1,"featured_media":402,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"http:\/\/instantfunds.in\/blog\/index.php?rest_route=\/wp\/v2\/posts\/399"}],"collection":[{"href":"http:\/\/instantfunds.in\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/instantfunds.in\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/instantfunds.in\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/instantfunds.in\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=399"}],"version-history":[{"count":2,"href":"http:\/\/instantfunds.in\/blog\/index.php?rest_route=\/wp\/v2\/posts\/399\/revisions"}],"predecessor-version":[{"id":407,"href":"http:\/\/instantfunds.in\/blog\/index.php?rest_route=\/wp\/v2\/posts\/399\/revisions\/407"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/instantfunds.in\/blog\/index.php?rest_route=\/wp\/v2\/media\/402"}],"wp:attachment":[{"href":"http:\/\/instantfunds.in\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=399"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/instantfunds.in\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=399"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/instantfunds.in\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=399"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}