Personal loans are always meant to easy your problems which you face in your day today life. This problem varies from person to person. For a scholar who is doing his PhD problem could be not getting the funds to complete his research when he is on the threshold of making the breakthrough in his research. He is confident in getting the results but his sponsors or not so they decided not to fund his research any more. Then he finds himself on the brink of losing all his hard work which he has put in the research. If you find yourself in the similar situation then you can go for Personal loans now.
Features of personal loan
- It is an unsecured loan where you need not to submit any type of the guarantee for the loan. Loan is unsecured in nature hence the risk of lender is high. Hence, it attracts a higher rate of interest for the loan.
- The loan can be applied online and you can get the loan amount in your account on the same day of applying for the loan.
Criteria for applying for a personal loan
- He should be more than 18 years of age and holder of British Passport.
- He should have an email account and a saving account in which the loan amount is to be transferred.
- He should have a fixed monthly income for last six months.
How to apply for the personal loan?
The personal loan for the research scholars who are involved in the research is quite different from the normal personal loan. As the person is involved in research work then he will be getting his scholar stipend from the university. So, his stipend will be his monthly income and he can get the loan on behalf of it. He also can apply for the personal loan to support his research or to meet out his personal expenses. The process he has to follow is mentioned below:
- He can apply for the personal loan online whenever he wishes to take the loan.
- He has to submit the proof of his age and documents to prove his monthly income.
- With all his documents completed he can apply for the loan and can have the status of the application known to him within an hour.
- He will be getting his loan amount transferred in his account within an hour of loan amount sanctioned.