Personal Loan For Shopping: Shopping Loan in India

Personal loan for shopping can help you buy your desired product within the same day. Apply instant personal loan for shopping with Roopya and get upto Rs. 25 lakhs instantly.

Who doesn’t want to take advantage of enticing deals? There are always so many jaw-dropping bargains selling everywhere, whether it’s a new device, a designer dress, or a bike you’ve wanted to buy for decades.It is difficult to turn down such attractive discounts when you see them, but doing so might cause stress in your bank account.

However, you don’t always have to wait for your payday to enjoy shopping sprees. If finances are not in your favor, you can take a personal loan for shopping, so you can avail the maximum benefits of the exciting offers and deals.

How to apply for a Personal Loan for shopping?

Apply for a personal loan for shopping in the following ways:

1. Go to Roopya’s official website and read through its qualifying requirements.
2. Input your name, gender, age, address,  income, and other details to apply for an immediate online personal loan for shopping.
3. Fill out the online application form with your basic information (identity, address, age, etc.) and submit the relevant documentation.
4. After properly completing the application, you may receive instant cash approval.
5. The credit amount will be sent straight to your bank account within one hour after approval.

Apply here: Personal Loan application Form

Unlike other personal loan platforms, Roopya provides an immediate and hassle-free personal loan borrowing experience for customers.

A personal loan for shopping application is approved in as less as 10 minutes if you are eligible and pre-approved. In case you are not pre-approved, the maximum time it takes to authenticate a customer is one hour. So, in one hour, you can be ready to get out there and shop online or offline.

5 Benefits of Personal Loan for Shopping

Personal loans for shopping provides access to the following features:

Customizable and Flexible Loan Amount

Shopping is everyone’s favourite pastime and what else can someone ask for when they get a loan which enables them to shop. A Personal Loan is designed to meet your every financial need.

Whether you’re shopping for your wedding or just want to purchase a designer dress from your wish list, the personal loan for shopping provides you with a customizable instant credit.

It goes from a couple of thousand to lakhs of rupees. As a result, it is simple to obtain a lesser loan amount for minimal buying and a greater amount for purchasing exquisite and pricey things.

Reference: Compare personal loans

Convenient and Flexible Tenure

A personal loan for shopping can be obtained for a period of up to a couple of months. You do not need to suffer long-term responsibility in order to return the amount owed.

One of the best things about a personal shopping loan is flexible repayment options so that you may select the duration that best suits your payment capacity.

Unsecured Loan

When you have to get urgent cash in your wallet to satisfy your impulsive shopping habit, you may opt for a personal loan for shopping. It comes in handy when you want to go shopping but doesn’t have enough money.

A personal shopping loan, like any other personal loan offered online, has a collateral-free aspect. As a result, no collateral is required for the credit. This also means a faster procedure.

Fewer Documents

Simple documentation is required to establish customer eligibility for a personal loan for shopping purposes. As a result, the credit is processed and disbursed quickly, allowing you to take advantage of the great shopping deals on time.

You may be preparing for a vacation or experimenting with new dishes at home. Having access to instant loan credit will guarantee that your plans do not need to be derailed due to the unanticipated expenses of your shopping needs.

No-Cost EMI

If you’re looking to do a big-ticket purchase but worry about your EMIs, think no more. Lenders partner with brands and merchants to provide you with no-cost EMI. So go ahead and shop for that premium smartphone or even a flat-screen LED TV with a personal loan for shopping.

With this feature, borrowers can easily repay their credit card dues in easy zero-cost EMI payment options without paying extra on interest.

Reference: EMI Calculator

Eligibility for Shopping Loans:

Here are the fundamental eligibility criteria for you to receive a personal loan.

1. You must either be a salaried professional or own a business.
2. The minimum age limit is 21 years old, while the maximum age limit is 58 years old.
3. There must be no defaults in the previous 24 months.
4. An excellent credit score.
5. The applicant needs to be a legal Indian citizen.
6. The minimum income should be 15,000 INR per month.

Required Documents

The documents required include:

Identity Proof

1. Aadhar Card
2. PAN Card
3. Voter Identity Card
4. Driving license

Proof of Address

1. Recent Electricity Bill
2. Recent Telephone Bill
3. Ration Card

Income Proof

1. Last month’s Pay Slip
2. Recent Bank Statement
3. Form 16

Tips to Consider Before Obtaining Personal Loan for Shopping

• You may assume that taking out a personal loan is the simplest and cheapest method to acquire something, but don’t forget to pay your EMI on time. If you take out a credit to go shopping and then fail to pay any Instalment on time, your CIBIL score will suffer and you will be unable to obtain loans in the future. As a result, it is critical for borrowers to maintain track of their past-due EMI.
• To choose the finest credit plan, go to Roopya’s official website and use their inbuilt loan calculator. It helps you understand your EMI details like interest rate, loan tenure better.

Conclusion

We understand the amount of research, time, and effort that you put in while shopping to your heart’s content. Mobile phones, electronic gadgets, fashionable outfits and accessories, the list of online shopping options are endless. But, don’t let cash be a hindrance to your wish list.

Roopya understands that shopping is an important part of a well-deserved customer lifestyle. Be it chocolates for a sweet tooth or designer wear for the extravaganza occasion, we have a solution for all your shopping desires. We offer these loans for online shopping to help you fly high in the realm of happiness.

If you have any queries, we are always delighted to assist you. Please visit our website by clicking here.

FAQs

Q. Is it feasible to repay my Shopping Loan early? 

Yes, you may pay off your personal loan before you go shopping. Some lenders impose nominal prepayment charges, but the charges vary from one to another.

Q. What if I fail to pay back the loan EMI on time?

In case you do not pay the loan EMI on time, your credit rating will suffer. Thus, next time you seek a personal loan, you will get a higher interest rate.

Q. How long does it take to avail of Shopping Loans?

If you already have borrowed from a lender, your credit will be issued in minutes. First-time loan disbursement timings, on the other hand, may take more time and the exact tenure details differ from one lender to the next.

Q. Can I get numerous Shopping Loans from a single lender?

You may be able to obtain one personal shopping loan at a moment or numerous loans simultaneously depending on the lender you are borrowing from.

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