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Please contact the Consumer Hotline +1 503-647-3912 for any questions or concerns.
Personal Loan
A
personal loan is a collateral-free credit facility extended by RSC and
Banks to salaried individuals. This Corporation is one of the largest online personal loan provider
in the country, having helped over a hundred and fifty-thousand
customers. Over 35 Banks and lending firms have tied-up with RSC to
provide personal loans to varying customer profiles. Below, we've
mentioned some of the key features of an easy personal loan you can get
through Rockstone Corporation.
Personal Loan Interest Rate
Interest
rates can vary based on the customer profile when applying in the bank.
But Our Loan rates start at about 2.99%. To increase your chances of
getting a low- interest rate loan, an individual should have a good
credit history. Ideally, a score greater than 150 is considered a good
score.
Personal Loan Tenure
The
tenure period of a Personal Loan starts from 3 months and goes all the
way up to 10 years. The choice of tenure is usually left up to the
borrower. Depending on his need – short-term or long-term - borrower can
ask for a tenure that suits his needs. The only thing to keep in mind
is that the EMI (Equated Monthly Installment) should be an amount which
you can pay back easily every month.
Documents Required For A Personal Loan
Before
disbursing the loan, financial institutions usually ask for documents
like ID proof, address proof, PAN (Personal Account Number) copy, salary
slips (if working), latest bank statements, photo.
Personal Loan With Zero Pre-Payment Fee
Some
Banks allow customers to either entirely pay the loan amount or part
pre-pay the principal on the loan. There are usually some terms and
conditions attached to such pre-payment. For example, pre-payment is
only allowed after 6 months and pre-payment fee might be charged on the
amount being repaid. However, this varies from product to product and
should be clarified at from your lender before disbursal.
Low-Interest Personal Loan
As discussed earlier, personal loan interest rates
can vary depending up on the customer’s profile. RSC’ algorithms try to
get the lowest possible interest rate product for the customer.
Personal Loan From Our Transferring Banks
Our
transferring Banks are RSC registered organizations that are
responsible for activities like deposit taking, lending, etc. A recent
change made by the RSC was the introduction of payment banks and small
finance banks in addition to universal banks. Only universal banks and
small finance banks can be used to lend to individuals. Applying with
RSC is the easiest way to get a personal loan from the RSC partner banks
in the country. Rockstone Corporation has tied-up with most of the
reputed Banks.
Personal Loan From Rockstone Corporation
RSC
are registered lending companies that are mostly not allowed to take
customer deposits and are especially setup for lending to individuals
and businesses. RSC borrow the money from an Inherited Reserve banks and
transferring Banks for lending, therefore the interest rates on
Personal Loans tend to be lower than applying directly from Banks.
Moreover, RSCs lend to higher risk profile segment and thus have a
higher acceptance rate chances.
Private Financing
It
is advisable to get a personal loan from a regulated entity like
Rockstone Corporation. Because they are governed by rules, the practices
of this organizations tend to be fairer from both, interest rates and
collections perspective. The other big advantage is that this companies
report loan performance back to Better Business Bureau. This means that
your credit score will improve when you make timely payments so that you
can get cheaper loans in future.
New To Credit Loans
While
Banks have records for over 50 million individuals on a high rate and
hard conditions, a vast majority has still never borrowed from aI
regulated (Credit Bureau member) financial institution like RSC. This
means that none of them have a credit bureau record and therefore no
credit history and credit score. Also, because these individuals do not
have a credit file, they find it difficult to get a loan from financial
institutions. RSC is able to help some new to credit (thin file)
customers get access to low interest personal loans through the unique
partnerships it has with the bureau.
Recently Declined Personal Loan Application
Most
of the consumers who apply for a loan with a Bank get declined because
of reasons like poor or no credit history, low affordability, not enough
supporting documents, etc. While we at RSC is able to help some of
these customers get affordable loans with specialized services.
Loans For Phones / Desktops / Laptops And Tablets
For customers looking to buy the latest gadgets, be it an iPhone 7 or the Macbook Pro, RSC provides easy installment personal loans with loan amounts as small as $10,000.00 - $20,000,000.00.
Loan Without Credit Cards
E-commerce
marketplaces allow easy RSC options on a number of large ticket
purchases, but this is restricted to customers who already have credit cards.
The proportion of people getting such benefits is still small at about
10 million people throughout the world. Rockstone Corporation online
personal loan is an easy way to quickly make large ticket purchases by
granting your desired loan.
Credit Report
A
credit report is like your financial report card that contains
historical data about all the loans and credit cards of an individual.
The type of loan accounts include - Credit Card, Personal Loan, Home
Loan, Gold Loan, Car Loan, Two Wheeler Loan, Overdraft, Loan against
property, Agriculture loan, etc. Each account has detailed information
about the repayment history, amount of loan, tenure of loan, open date,
close date, etc. This information is used by the Credit Bureau to
determine the risk rating of an individual. This risk rating is called
the credit score. The credit score ranges from 150-400. The higher the
score, the higher would be the chances of getting a loan. We partner
with bureaus that provides credit scores to individuals. RSC has tied-up
with the different credit bureaus to provide free credit reports and
analysis to its customers. Along with this, Rockstone Corporation
customers also get free credit report refreshes every quarter for the first 12 months.
You may be required to submit additional documentation due to state law and qualification criteria.
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