Purpose and suitability
Consider whether a personal loan is appropriate for the planned expense and whether instalments will remain affordable.
About Personal Loan
Personal loans can help eligible borrowers manage planned household expenditure, education-related costs, family needs and other permitted purposes. The suitable amount and tenure depend on affordability and the terms applicable to the specific facility.
Repayment planning
Compare the monthly instalment with existing commitments and review the total interest payable over the full tenure.
Understanding eligibility
Eligibility may be assessed using age, occupation, income stability, existing financial commitments, repayment history, identity and address verification, and other criteria specified for the product. Meeting initial criteria does not guarantee sanction.
Documents and verification
Applicants may be asked for identity and address documents, income records, bank statements, business records, property records or vehicle quotations depending on the loan type. Documents should be shared only through an authorised and secure process.
Loan costs and repayment
The total borrowing cost can include interest, processing charges, applicable taxes and other charges disclosed in the relevant product documents. Customers should review the repayment schedule, total amount payable and consequences of missed instalments.
Application and assessment
An enquiry is the first step. The relevant team may discuss requirements, seek information, assess eligibility and explain the next steps. Any final sanction or disbursal is subject to formal assessment and applicable documentation.
Responsible borrowing
Borrow only what can reasonably be repaid. Compare repayment obligations with monthly income, maintain an emergency buffer and read the complete loan agreement before accepting a financial commitment.