Top 7 Situations You Can Use Personal Loan For | AU Small Finance Bank
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What Can I Use a Personal Loan For?

    With higher disposable income and abundant choices, individuals are upgrading their lifestyles. Personal loans are another big factor that helps people live their life the way they want. You can use the loan to fund your holiday, home renovation, new business, or any medical emergency. With Personal Loans at your helm, you don't need to dig into your savings. Let us explore the uses of Personal Loans in detail here. 


    How does a Personal Loan work?

    A Personal Loan is a collateral-free loan for which you don't have to pledge any collateral/security. If you are in urgent need of funds, you can apply for a Personal Loan online with AU Small Finance Bank using AU 0101 App/NetBanking. Loan approval is provided after evaluating your creditworthiness. Post this; you receive Sanction Letter from us with the agreement and repayment terms. The approved funds are then disbursed to your registered bank account.

    Avail a maximum Personal Loan amount of up to INR 7,50,000 from us at a competitive interest rate to finance your short-term needs. The loan term ranges from 1year to 5 years. 

    AU Small Finance Bank existing customers can be eligible for Pre-approved Personal Loan offers at preferential interest rates without any paperwork. Also, if you are a Royale customer, you can avail of preferential processing fees and interest rates with us.


    Uses of Personal Loan

    You may need to get a Personal Loan for many different reasons. Below are some of the top uses of Personal Loans:  

    • Wedding expenditure

    As weddings are a one-time, grand affair in India, you may want to have wedding ceremonies of your choice. And if you do not have the adequate finances to fund your wedding, a Personal Loan can help you with that.

    • Holiday expenditure

    Holidays are the best way to take a break from your hectic schedule and unwind. If money is the problem, you can always use a Personal Loan and go on vacations as you want to. You can apply for Personal Loans with minimal documentation and enjoy unplanned holidays.

    • Home or office renovation expenses

    Most of the time, the cost of renovating your home exceeds the initial figure you have in mind. But you don't have to put your home renovation plans on hold due to insufficient finances. You can apply for a Personal Loan to renovate home or office or make necessary repairs like rewiring your house or getting it painted.

    • Medical expenses

    A medical emergency may arise at any time. When you are in need of urgent funds, you can always count on a Personal Loan to pay for unexpected medical expenses.

    • Kids' education

    Education is getting more and more expensive. But you don't want to let that in any way hinder your child's education. A Personal Loan can be used to support your kid through school or higher education. 

    • Buying gadgets

    From home appliances to entertainment units, electronic gadgets integrated with 'smart' technology have made our lives easier. You don't have to keep postponing buying useful gadgets as you can apply for a Personal Loan to take care of such needs.

    • Debt consolidation

    Debt consolidation is one of the best uses out of all the types of Personal Loan applications. You can take care of the debt resulting from high-interest credit cards and old debts with a low-interest personal loan and save money. 

    If you need urgent funds for any requirement, you can easily get a Personal Loan from AU Small Finance Bank. Any resident Indian between 25 and 60 years can instantly apply for a Personal Loan online via our AU 0101 App/NetBanking.

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