Get the Tata Capital App to apply for Loans & manage your account. Download Now

Blogs SUPPORT
Loans For You
Loans for Business
Investment
Insurance
Apply
Quick Links for loans
Quick Links for Insurance
Investment
Offers Quick Pay
Back

Equipment Finance

Avail Digital Equipment Loans
up to Rs. 1 Crore

  • Attractive ROIs
  • Customizable Loan tenure
Know More
Back

Equipment Leasing

Avail Leasing solutions
for all asset classes

  • Up to 100% financing
  • No additional collateral required
Know More
Menu  
 
Apply Now

Tata Capital > Blog > Personal Use Loan > Quick Guide about Personal Loan Disbursement

Personal Use Loan

Quick Guide about Personal Loan Disbursement

Quick Guide about Personal Loan Disbursement

Personal Loan Disbursal Process

Are you taking a personal loan for the first time? Then knowing the ins and outs of the disbursement process will go a long way to ensure a good borrowing experience. This becomes even more important when you’re applying for a loan to cover a financial emergency.

If you know all the steps involved in the process, you can complete all the formalities timely and get the loan quickly. Here’s a quick guide to help you get started.

1. Loan application

The personal loan disbursement process begins with the processing of your loan application. After you've submitted the form, the lender will take either a couple of hours, in the case of an online application or a week, to verify your credentials if you apply offline. 

In addition to the application form, you'll also be asked to furnish a set of document proofs for verification. Make sure all your paperwork is duly attested, wherever necessary, and updated to avoid any delays in the process.

Once the lender is satisfied with the information you've provided, you'll proceed to the next stage: loan approval.

2. Loan approval

After the document submission and verification process, your lender will initiate the loan approval process. While the approval time may vary from one lender to another, it typically takes two to three working days. However, if you apply online, you can get approval in only a matter of minutes. Just ensure that your paperwork is in order so you can get through the step without delays. 

Additional Read: How to Get Approval for Personal Loans for Low Salaried Professionals?

3. Loan disbursal

Once you've received the green flag, you'll get a sanction letter from the lender via post or email. This will contain your loan agreement and other key details like:

  • Personal loan interest rate
  • Total loan amount
  • Equated Monthly Instalments (EMI)
  • Processing fee
  • Additional charges/penalties
  • Type of loan

The amount is usually disbursed after the sanction letter and takes anywhere between 24 hours to 2 working days. Nevertheless, the personal loan disbursement time can vary from one lender to another.

Generally, you’d have to visit the lender to collect the cheque or demand draft for the loan amount, or they could also mail it to you. However, most lenders today offer instant disbursement, where the amount reaches your bank account directly via NEFT.

Additional Read: Things To Do If Your Personal Loan Gets Declined

What happens after loan disbursal?

Commencement of Repayment: Monthly installments are due on the scheduled dates, and timely payments positively impact credit scores.

Repayment Details: To make repayment simple, lenders include information like due dates and available payment options.

Impact of Delayed Payments: Defaults or delays have an adverse effect on creditworthiness and may incur fines.

Maintaining Communication: Stay in contact with the lender, update your personal information, and keep a close eye on your loan account after it has been disbursed.

Managing Finances: To ensure efficient financial management, keep up with interest rates, tenure, and outstanding balances.

Enhanced Credibility: Successful repayment boosts credibility, opening doors for future financial opportunities.

In Conclusion

As you can see, loan disbursement is pretty straightforward, but every step is crucial. While the process isn’t that time-consuming, you can ensure a faster disbursement by opting for a lender like Tata Capital.

Thanks to our simple, five-step online application process, you can apply in no time and get your loan instantly. All you need to do is enter your personal details and input loan requirements to get started. You can click here to view our disbursement process in detail or even use our handy personal loan EMI calculator to check probable EMIs before applying.

So, why go anywhere else?

Apply Now

Popular Blogs

I Need 50,000 Rupees Loan Urgently  | 50,000 Loan on Aadhar Card | 12 Unique Business Ideas | Indian Bike Company | Mortgage Deed  | 10,000 Loan on Aadhar Card | Electric Cars in India Under 5 Lakhs | Scrap Business | 20,000 Loan on Aadhar Card  | NA Plot Means  | What Are Financial Securities

Explore more about Loans

Loan Against Securities  | Bike Loan  | Bike Loan EMI Calculator  | Personal Loan Eligibility Calculator | Used Car Loan Emi Calculator | Loan Against Property Calculator  | Pre EMI Calculator  | Instant Personal Loan

Disclaimer

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Viewed Blogs

Trending Blogs

Calculator

Personal Loan EMI Calculator

Personal Loan EMI Calculator
Home Loan EMI Calculator

Home Loan EMI Calculator
Business Loan EMI Calculator

Business Loan EMI Calculator
Used Car Loan EMI Calculator

Used Car Loan EMI Calculator
Two Wheeler Loan EMI Calculator

Two Wheeler Loan EMI Calculator
Loan Against Securities Calculator

Loan Against Securities Calculator
Loan Against Property Calculator

Loan Against Property Calculator
More Tools
Our Subsidiaries
Our Other Websites

Important Information

Investor Information

Visit us on:,Visit us on: www.tatacapitalmoneyfy.com,www.tatacapitalmoneyfy.com

Our Private Equity Funds

Amalgamated Companies

Top Branches

Most Important Terms & Conditions - Home Loans

Download in your preferred language

Download

Policies, Codes & Other Documents

Most Important Terms & Conditions - Home Loans

Download in your preferred language

Download

Tata Capital Solutions & Services

Uh oh, something went wrong

Please try again later.