Capital First Personal Loan Online – Check Loans Eligibility and Interest Rates

Going through a financial crisis and need some help? You may apply for a Capital First personal loan online! Established in 2010, Capital First is one of India’s leading NBFCs (non-banking financial company). With the aim to serve both retail customers and MSMEs, Capital First offers a range of financial products, one of which is their personal loans. Their other specialties include insurance, mortgage loans, consumer durable finance, and other unsecured loans for both individuals and businesses. Though headquartered in Mumbai, the company has operations in many of the major towns and cities across India.

If this is your first time looking into Capital First personal loans, you are sure to have a ton of questions. Loan Sumo, a leading online lending platform, is here to help you out! Our goal is to help borrowers find the best personal loan deals from legitimate and trusted lenders. We will also help you make an educated decision based on correct information.

Features and benefits of Capital First personal loan online schemes

Do you want to give your house a makeover, go on your dream vacation, or buy the latest gadgets or appliances? We all have such desires, but most people struggle to fulfil them because of the lack of money. Thanks to Capital First personal loan online applications, you can now get the funds you need to lead a fulfilling life. These loans are also suitable for emergencies such as medical care or hospitalisation, urgent car repair, rent, and utility bill payment and more. Unlike business loans or auto loans, personal loans do not have a specific usage. You can borrow to meet any personal expense. Here are some of the popular features and benefits of Capital First personal loans.

Features

Benefits

·         Quick online application, minimal documentation, and fast processing.

·         Loan approval without the need to provide collateral or mortgage.

·         Monthly interest calculations.

·         Insurance facility available with personal loans at an affordable premium.

·         The option of foreclosure of the loan is available.

·         The convenience of doorstep service and in-home visitation from company representatives.

·         Customized offers for women professionals and corporate employees.

·         Low rates of interest and fast loan disbursal.

 

·         Borrow up to Rs. 10 lakhs with a tenure of 5 years.

·         Easy loan application process and transparent terms and conditions.

·         Special interest rates, offers, and charges.

·         Zero hidden charges, minimal processing fees, and flexible repayment options.

·         Personalized loan offers for eligible applicants.

·         Option to check eligibility & interest rates online.

·         The option to obtain Personal Accident Cover Insurance with the personal loan.

·         24X7 customer care support.

Eligibility requirements for Capital First personal loans

Before you plan on applying for the Capital First personal loan online, you need to consider whether you are eligible. Not every applicant will get the approval. Responsible lenders will always judge your creditworthiness based on a number of factors before deciding the fate of your application. If you meet their criteria, you will get the approval. Here are some of the eligibility requirements that you need to fulfil to be able to obtain Capital First personal loans.

  • The minimum age for salaried employees is 23 years, whereas, the minimum age for self-employed individuals is 28 years.
  • The maximum age for salaried employees is 58 years, whereas, the maximum age for self-employed individuals is 65 years.
  • Salaried employees need to have a minimum income of Rs. 20,000 per month. Self-employed individuals need to have a minimum income of Rs.10,00,000 per annum.
  • Both salaried employees and self-employed individuals need to have a minimum CIBIL score of 750.

How does credit score affect your eligibility for a personal loan?

As mentioned above, when you apply for a personal loan, lenders assess your creditworthiness based on a range of factors, one of which is your credit rating. The CIBIL score represents your credit score, and it plays a huge role in your financial life. After you submit your application for a Capital First personal loan online, the lenders will conduct a hard credit check. They will take into account your credit history, credit record, and credit score. If they find your past loan performance satisfactory, they will be more inclined to approve your application. Typically, the CIBIL score ranges from 300 to 900. While 900 is an excellent credit score, 300 is considered poor.

Your credit score may go down for a number of reasons. Financial mismanagement, poor loan performance, late payments on credit card bills, and reckless spending can have a damaging effect on your credit ratings. Also, every time you apply for a loan and the lender conducts a hard credit check, it leaves a negative impact on your credit record. Your credit rating may go further down because of that as well. If you have bad or no credit rating, the chances are that you will not get approved for a conventional personal loan. In that case, Loan Sumo can arrange bad credit personal loans for you. You can also take steps towards improving your credit score so that you can apply for a Capital First personal loan later.

Capital First personal loan interest rates and charges

Just as your CIBIL score can affect your eligibility, it can also determine how much you have to pay in interest. Having excellent credit scores makes you eligible for the best rates and terms. If you have an average credit rating, you may have to pay steep interest rates and charges. You can check your CIBIL score to have an idea of how much interest the loan will bear. Here is a list of the rates and charges for Capital First personal loan online application. Make sure to conduct a rough calculation to find out how much the loan may cost you.

Loan Amount Rs. 1 lakh to Rs. 25 lakhs
Tenure 1 to 5 years
Interest rate 13.00% – 20.00%
Monthly EMI Rs. 2,275 – Rs, 2,649 per lakh
Processing fees Up to 2.5% of the loan amount