Shanky Finance a end to end lending platform, which gets creditworthy borrowers and willing investors together to transact on short to medium term personal unsecured loans.
A personal loan is a non-collateral (unsecured) loan that provides funds to salaried as well as self-employed individuals. A borrower can take a personal loan for any unforeseen financial need. In today's time when everything is digitizing, getting a personal loan is quicker through online process. The main advantage of a personal loan is that it offers higher loan amount, attractive interest rates and flexible repayment period without any security.
Features and Benefits of Personal Loans
Unsecured Loan: A personal loan is given on the basis of the financial stability of the borrower. Unlike other loans, there is no security for a personal loan.
Freedom to Use Funds: A borrower has the freedom to use the loan money for any purpose be it a personal need or a professional one.
Flexible Loan Tenure: In a personal loan, there is flexibility in tenure that makes it more convenient for a borrower to pay back the loan amount.
Higher Loan Amount: On the basis of the income profile, generally, a borrower can get a personal loan of Minimum of 1,00,000/- up to the Maximum of 15 lakhs to 20 lakhs.
Shanky Finance goes beyond conventional forms of risk analysis of the borrower in order to serve a broader user base. Banks typically look at CIBIL or other credit bureau scores to make loan decisions. Shanky Finance takes into account 1000s of data points to assess the creditworthiness of the borrower such as net salary, expenditure trends, locality of stay, educational qualification, utility and mobile bills, asset holding, Investments, Credit card bills and online spending behavior etc. This approach ensures that individuals with a less favorable CIBIL score are also likely to get a loan through our platform if they are credit worthy as our proprietary machine learning algorithm generates a more holistic credit profile of the borrower.
Shanky Finance offers borrowers with the convenience to getting loans while sitting at home without having to visit a bank numerous times to sign papers and other formalities
We ensure that the process is completely transparent with no hidden charges levied on the borrower
Shanky Finance offers a streamlined and efficient approach to personal finance making the process a very pleasant experience for the borrowers
We also offer borrowers a chance to send and receive proposals from prospective investors to ensure that both parties reach a mutually beneficial arrangement.
What Documents are required for procuring a Personal loan in India?
(I) ID Proof
(II) Employment/Salary Proof
(III) Ownership Proof of Residence or Office
(IV) Bank Statement 6 Months
(V) Latest ITR of Co-Applicants - For last 2 Years
(VI) Proof of Continuity Of Business/Service
(VII) CA Certified or Audited P/L Acc Statement and for >40 Lacs cases Audit report along with schedules of P&L and Balance Sheet - for last 2 years
(VIII) Address Proof
(IX) ITR & Statement Of Computation of Income - for last 2 Years
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