A personal loan is a sum of money that an adult person borrows to meet his financial needs and requirements. An individual can take an easy personal loan or a guaranteed personal loan for a variety of reasons. Loans for personal debt help provide funds to purchase that dream boat or car, pay for your mortgage arrears or home improvement requirements- in fact personal loans help meet most of the financial emergencies that an individual can think of. the interest rate for this type of loan varies from 17% to 18%.
Eligibility
You are eligible if you are a Salaried individual of good quality corporate, self employed engineer, doctor, architect, chartered accountant, MBA with minimum 2 years standing.
Loan Amount
Your personal loan limit would be determined by your income and repayment capacity.
Minimum : Rs.24,000/- in metro and urban centres
Rs.10,000/- in rural/semi-urban centres
Maximum : 12 times Net Monthly Income for salaried individuals and pensioners subject to a ceiling of Rs.10 lacs in all centers.
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