Personal Loans
If you require financing for personal expenses, a medical emergency, a wedding, vacation abroad,
holidays, child education, or the purchase of consumer durables, a personal loan is the clear
option. That means a personal loan is the best option if you need money.
PERSONAL LOAN ELIGIBILITY
- In metro areas, a minimum monthly income of Rs. 18,000 is needed.
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Other cities such as Tier 1, 2, and 3 need a minimum monthly income of $12,500. The minimum age
is twenty-one.
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A reliable source of income with acceptable documentation, such as an account transfer or pay
check. No bank will take into consideration a cash salary.
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Minimum stability of six months in present employer for salaried employees, and two years of
independent contractor/professional experience.
- The Cibil score ought to be higher than 750.
PERSONAL LOAN INTEREST RATES 2019
Any loan's interest rate is a factor, thus it is always advantageous to select the lowest one. The
interest rates on personal loans range from 11.59% to 22.00% for the majority of banks. Certain
banks provide their customers with exclusive interest rates based on their company, profile,
residential status, and monthly income. Banks only grant the lowest rates to workers of CAT A
companies.