Personal Loan

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Need funds for an urgent need or a short period? Avail personal loan with a quick approval and turn your dreams into reality!

Personal loan is one of the most sought after loan to meet out the short term finance needs. Being an unsecured loan Personal loan it can be used for varied purpose, say planning a vacation, renovating your home or arranging a dream wedding for yourself or somebody special in the family.
You can also transfer your existing high rate Personal Loan to lower your monthly EMI burden

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Tax Benefits on Personal Loan

You can avail tax benefits on your personal loan depending upon the purpose for which the loan was taken. The Income Tax allows tax deductions for loans taken for education, purchase or renovation of property, and business expansion. For instance, as per Section 24 of the Income Tax Act, if you have taken a personal loan for home construction or renovation, the interest paid is eligible to be claimed as exemption from your taxable income. For self-owned houses, interest up to Rs. 2 lakhs is eligible for exemption whereas for rented houses, the entire interest can be claimed as tax exemption. In case of business expansion, the interest paid will be added to the cost of acquisition which will reduce capital gains, and thereby tax liability.