Personal loans are available through MyShubhLife if you require instant finances. You can easily obtain a loan in the amount of Rs. 75,000 to Rs. 5 lakh. The loan can be repaid in one to four years. The loan’s interest rate ranges from 1.25 percent to 2 percent (flat monthly rate). After paying 12 EMIs on time, you can foreclose on the debt.
Features of MyShubhLife
- MyShubhLife has a simple application process via a mobile app
- Amounts ranging from Rs.75,000 to Rs.5 lakh are available as loans.
- Loan repayment periods of up to four years are available.
- Monthly interest rates are fixed and range from 1.25 percent to 2 percent.
- After repaying 50% of the current loan, a top-up loan is available.
- After 12 months of repayment, the loan might be pre-closed.
- Document collection is simple with agent pickup at a pre-arranged time and location at your business or home.
Eligibility Criteria for MyShubhLife
Salaried individuals with a minimum monthly income of Rs.12,000 are eligible for MyShubhLife.
Minimum age of 21 and maximum age of 60 are required.
Documents Required for MyShubhLife
- Documents needed to prove your identity on MyShubhLife: PAN Card and Aadhaar Card
- Rental agreement/utility bill/postpaid mobile bill/valid government KYC documents in the name of the loan applicant are acceptable forms of proof of address.
- Recent bank statements showing pay credits from the preceding three months, as well as salary slips
- Photograph: Selfie
How to Avail MyShubhLife
- Register for an account on the MyShubhLife mobile application.
- Fill in your personal information when your cellphone number has been validated.
- Upload a photo of your PAN and fill out the form.
- Include information about your home address, schooling, work experience, present job, and pay.
- Link your MyShubhLife account to your net banking account or upload the bank statement papers in PDF format to upload your bank statement.
- You can apply for the loan when your bank statements have been quickly validated.
- Choose the EMI amount you can afford, the loan amount you need, the payback term you choose, and the loan purpose.
- Upload a photo of yourself.
- Upload your latest payslip and proof of residential address in PDF format.
- Share the contact details of two references
- Your loan application is now complete and will be processed within 2 working days once approved.
In which cities is MyShubhLife now available?
Ahmedabad, Bangalore, Chandigarh, Chennai, Coimbatore, Delhi NCR, Hyderabad, Jaipur, Kolkata, Mumbai, Mysore, Nashik, and Pune are the cities where MyShubhLife is currently available.