Hyderabad is the most populous city in Telangana. It has become a hub of IT companies, trade and commerce, pharmaceuticals, and the textiles industry. This contemporary city is also famous for Telugu -language films or Tollywood. It is a major center of famous historic sites such as Charminar, Golconda Fort, and many more. Hyderabadi Biryani is the iconic brand ambassador of Hyderabad, which attracts millions of food lovers to try out. 

Thousands of people move to Hyderabad to explore job opportunities, which leads to more demand for funds. Relocation is expensive for the aspiring workforce, as the living expenses are high and difficult to afford with an average salary. LoanTap brings you  EMI Free Loans in Hyderabad with lower interest rates and minimal repayments over a tenure. 

What is EMI Free Loan?

This EMI-free loan offers you an ideal solution when you are struggling financially at the end of the month. It allows you to pay for the other expenses without worrying about EMIs. EMI Free Loans Online provides you with a credit facility to pay the interest only on the principal outstanding. It reduces a huge monthly cash outflow for those who are earning a low income. You can apply for EMI Free Loan through the LoanTap website or mobile app for instant cash. It is an unsecured loan to provide you with a higher loan amount quickly into your savings account. This is like a personal loan, which can be used for various purposes and pay for the occasional expenses. 

But, How does EMI Free Loan Work?

EMI Free Loans are best suited for working professionals and government employees who solely depend on one source of income.  EMI Personal Loan is expensive and requires a monthly repayment of EMI. Some banks and NBFC may reject your loan application because of low income or some other factors. Since this is an interest-only payment, your monthly cash outflow is lower by around 40%. The principal needs to be repaid in bullet payments every 3/6 months. It ensures a comfortable approach to repay a part of the loan amount. The loan interest is calculated from the date of disbursal and added to your loan statement. Your EMIs can be paid on the 7th of the following month 

Why you should go for EMI Free Personal Loans 

 LoanTap provides you with EMI Free Loans Online without asking for any charges. Our team understands the customers’ requirements of getting a Personal loan in Hyderabad. Interest-only loans give you the liberty to enjoy the disbursal amount without paying full EMI for a period as decided during the sanctioning process of the loan. It comes with the following benefits which attract you to apply now. 

  • Quick Disbursal and  Approval:  LoanTap provides you with an easy online application process and you can get a quick disbursal of EMI Free Personal Loan. In tough times, you don’t need to wait for days to get access to cash. It will sanction the loan amount on the same day of approval. If your CIBIL score is good, the loan will be disbursed within 24-36 hours.
  • Flexible Repayments: EMI Free Loan Online allows you to choose how much you want to pay and decide the tenure period as per your capacity. You can plan your budget and maintain a healthy account balance to tackle the expenses. You will get a better option than any other fixed EMI personal loan for salaried professionals. 
  • Minimum Documentation: No paperwork apart from basic KYC documents are required to qualify your application and verify your profile. It includes residential proof, identity proof, and bank statements. LoanTap collects the basic minimum documents to get any financial products. You are free to apply for the loan while sitting at your office or home.
  • Transparent Process: EMI Free Loan facility will charge interest only on a monthly basis. The principal will be repaid via bullet payments. No bank or NBFC will ask for prepayments or hidden charges for processing your loan application.
  • No Collateral Required:  EMI Free Instant Loans are easy to avail from a secured and safe digital platform like LoanTap. These personal loans are essentially unsecured loans, where you don’t have to give any security and assets against the loan amount. It makes a popular financing option available online and easy to access in just a few clicks. 
  • Cheaper than credit card: Free EMI Loans Online is an inexpensive solution that charges interest only on the loan amount. Using credit cards to handle the monthly expenses can cost you high-interest rates between 24% – 36% annually.  The EMI free loan works out much cheaper.
  • Easy Expense Management: Personal loans EMIs could create some pressure on you to compromise with your expenses till you pay off the loan. However, it is the opposite with EMI-free loans. You can manage the principal amount without any compromise and live a comfortable life. The best financial solution is to cover all the unexpected expenses with the instant cash available. 
  • No Prepayment Fees: There are no prepayment charges if you prepay the loan after 6 months. Else a small prepayment charge will be levied.

Eligibility Criteria for Personal EMI Free Loans

As a Salaried Professional, you feel helpless sometimes when faced with unexpected situations. When you need money for a medical emergency, buying a gadget, or moving to a new city. LoanTap brings you a perfect approach to clear all the debts by applying for the loan online. Here are a few conditions you need to qualify to get a Personal loan:-

  • You should be an Indian Citizen/ Resident.
  • You should be between 21- 60 years of age
  • Individuals should have a minimum income of INR 30,000/-.
  • You should have a steady income source to pay off the loan.
  • Applicants should have a CIBIL Score of 680-700 at the minimum.

After qualifying the eligibility, apply for the No EMI Personal Loan on the LoanTap website online with minimal charges. You don’t need to visit any bank to get any financial products in this digital world. LoanTap has created a digitally trusted platform to borrow instant loans with minimal interest. 

Documents Required for Availing EMI Free Loan

LoanTap provides a simple and quick process, where you need to fill out an online application form with minimal documentation. You are required to upload a list of some documents to avail of the loan. If your documents are valid and verified, LoanTap will disburse the sanctioned loan amount within 24 hours. Here are the following basic documents for availing of EMI Free Personal Loan:

  • PAN
  • Address proof such as Aadhar Card/ electricity bill/ Water Bill/ Voter’s ID.
  • Payslips for the latest three months. 
  • Valid salary account bank statement for the last six months.

However, you will be asked for other documents if there’s a need during credit checks. Check all the documents before handing them over to our representative. Instant disbursal of loans can help you in a hopeless situation with a loan amount of up to 10 lakhs over a tenure of 60 months. Make sure your documents are updated with the correct details.

A Step-by-Step Guide to Get the Personal Loans EMI Free

Technology has bridged the gap between NBFC and borrowers with digital solutions for availing of financial products. EMI Free Loan in Hyderabad charges only the interest component on a monthly basis. So, take a tour of the following steps to activate instant disbursal of the loan with minimum documentation.

  • Step 1: Visit this link or go to the Apply Now button at the right corner of the webpage. Click on the button and build your application there. 
  • Step 2:  You can also choose the KYC verification online process. Complete the online process by installing the LoanTap app from Google Play Store.
  • Step 3: Once you have filled out the application form, you can upload the required documents to verify your profile. 
  • Step 4: You can also download documents and sign them to hand over to our representative.
  • Step 5: After verification of all the documents, your loan will be approved on the same day. We will activate instant disbursal of the loan which you can use for the purpose of your choice.

As soon as the process is completed, you will get the sanctioned loan amount into your bank account in 24-36 hours. You don’t need to wait for a long registration process or waste time filling out numerous forms. LoanTap’s EMI Free Loans are low-interest products that can help you meet urgent expenses.  

End-use of Personal EMI-Free Loan

Medical emergency

Medical emergencies add extra expenses and put pressure on your wallet. Even if you have savings, it may not be enough to cover those medical bills, surgeries, and treatments. You can get the money quickly when applying for EMI Free Personal Loans. It helps you to avoid using your savings for managing medical expenses.

Wedding Planning

Weddings are usually a grand affair for everyone. You have dreamt of a spectacular wedding with favorite cuisines and theme decorations. You need adequate finances to go a little overboard and have a grand wedding. You can get a Personal Loan with no restrictions on how you use the money. 

 Relocation

It is an exciting experience to move into a new home but it may be financially daunting. You need to change location because of your job or other reasons. Either way relocating is stressful and can be expensive. Apply for the EMI Free Relocation Loan to pay the relocation expenses and movers’ fees. 

Unplanned vacation

Do you need to travel somewhere? But due to financial limitations, it is not possible to plan a trip or travel to another country, If you haven’t planned. There’s an urgency to go on an unplanned vacation. Online EMI Free Loans can be disbursed to your account with minimal documentation. You can relax and enjoy your vacation.

 Home renovation

Renovation can exceed your financial budget and put a hole in your wallet. It does not mean you should skip the idea of revamping your house. With a Personal EMI free Loan from LoanTap, you can get a loan amount of up to 10 lakhs and renovate the home with new fittings and furnishings.

Kids’ education Fee

Education is constantly getting more expensive. You can’t compromise with giving your child a quality education and stop working on the child’s aspirations. It offers you enough financial support they need through school and college. By applying for a Personal EMI Free Bank Facility, you have the liberty to utilize the loan amount for paying things such as tuition fees, books, clothes, etc.

EMI free loans from LoanTap are a convenient mode to obtain short term financing. They help you manage your EMIs without upsetting your monthly budget. If you are in need of an EMI free loan you can contact LoanTap for details.

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