💼 What is a Multi Purpose Loan? Benefits, Eligibility & How to Apply with Vizzve Financial
📅 Updated: June 2025
✨ Introduction
A Multi Purpose Loan is like your financial Swiss army knife. Whether it's a home upgrade, medical treatment, wedding, travel, or education, you can handle it all under one easy loan. No need to explain why you're borrowing—just apply and use the funds as needed.
With Vizzve Financial, you get this flexibility plus instant approval, minimal paperwork, and RBI-registered safety.
💡 What is a Multi Purpose Loan?
A Multi Purpose Loan is an unsecured personal loan offered without restrictions on how the money is spent. Unlike home or education loans, this loan gives you full control over usage. Whether you’re planning a vacation, paying school fees, or tackling emergency bills, this loan is your one-stop solution.
✅ No collateral | ✅ Fast disbursal | ✅ Low documentation | ✅ Available on Vizzve App
✅ Key Benefits of Vizzve’s Multi Purpose Loan
🎯 Flexible Use – Spend it on anything you need, no questions asked.
⚡ Fast Approval – Instant decision, powered by AI-backed eligibility checks.
📱 100% Digital – Apply on the Vizzve App from anywhere, anytime.
📝 Minimal Documents – Aadhaar, PAN, and bank statement are enough.
🔒 No Collateral – Completely unsecured, safe borrowing.
💳 Boost Your Credit – Timely EMIs improve your credit score.
🔄 How Does It Work?
| Step | Action |
|---|---|
| 1 | Apply on Vizzve App |
| 2 | Submit basic KYC + income proof |
| 3 | Get approval in minutes |
| 4 | Money credited to your account |
| 5 | Repay in flexible EMIs |
🎯 Eligibility Criteria
| Criteria | Details |
|---|---|
| Age | 21–60 years |
| Employment | Salaried or Self-employed |
| Income | ₹15,000/month or more |
| Credit Score | Preferably 700+ |
| Citizenship | Indian resident |
| Work Experience | 1 year minimum in current job/business |
📑 Documents Required
ID Proof: Aadhaar / PAN / Passport / DL
Address Proof: Utility bill / Rental agreement / Voter ID
Income Proof: 3 months salary slips or ITR for self-employed
Bank Statement: Last 3–6 months
Photo: Recent passport-size
💰 Interest Rates on Multi Purpose Loans
Range: 10% – 24% p.a.
Depends on: Credit score, income, loan amount, and tenure
Note: Vizzve’s AI engine ensures fair interest rates for each applicant.
🧾 Example: ₹50,000 Loan EMI Breakdown
| Tenure | Monthly EMI | Approx. Interest |
|---|---|---|
| 12 Months | ₹4,500 | 12% p.a. |
| 24 Months | ₹2,300 | 13.5% p.a. |
| 36 Months | ₹1,600 | 14% p.a. |
| 48 Months | ₹1,250 | 14.5% p.a. |
| 60 Months | ₹1,050 | 15% p.a. |
Note: These are indicative values. Actual EMI will vary as per applicant profile.
🎯 What Can You Use Vizzve Multi Purpose Loan For?
🏠 Home Renovation
🏥 Medical Treatment & Hospital Bills
🎓 Education & Online Courses
💒 Wedding or Family Functions
🌏 Travel & Dream Vacations
💳 Debt Consolidation
📲 How to Apply for a Multi Purpose Loan via Vizzve
Step 1: 📱 Download the Vizzve App from Play Store or App Store
Step 2: 🔐 Register & Verify with OTP
Step 3: 🧾 Enter PAN, income & work details
Step 4: 📂 Upload required documents
Step 5: 💸 Get instant approval & disbursal to your account
🤔 Frequently Asked Questions
Q1. What is the maximum amount I can get?
➡️ Up to ₹5,00,000, depending on your income and credit profile.
Q2. Can I use this loan to consolidate debt?
➡️ Yes, it’s ideal for combining multiple high-interest debts.
Q3. How fast is the disbursal?
➡️ Same-day approval and disbursal in most cases.
Q4. Can I apply with a low credit score?
➡️ Yes, but loan terms may vary. Vizzve also helps improve your score with timely EMIs.
Q5. Is there a processing fee?
➡️ Varies from lender to lender. Vizzve discloses all charges upfront—no hidden costs.
Q6. Is Salary Loan same as Multi Purpose Loan?
➡️ A salary loan is just one type of multi purpose loan. With Vizzve, you get more options.
🔚 Conclusion
A Multi Purpose Loan from Vizzve Financial offers the freedom to manage multiple financial goals with a single, convenient solution. From urgent needs to big dreams, Vizzve supports you every step of the way—digitally, securely, and instantly.
📲 Ready to Apply?
👉 Click Here to Get Your Multi Purpose Loan from Vizzve Now
📈 Related Reads
How to Improve CIBIL Score Fast in 2025
Loan With Aadhaar Only – No Salary Slip Needed
Manage Open Heart Surgery Expenses with Personal Loan
Beware of Fake Loan Apps – Tips to Stay Safe
Retail Loan vs Multi Purpose Loan – What’s Better?
🔍 Keywords: Multi purpose loan India, Vizzve personal loan, all-in-one loan, low documentation loan, unsecured loan, Vizzve app loan, instant approval