Tips for Personal Loans: A Personal Loan is an all purpose loan. It is
absolutely hassle free and you can do virtually anything under the sky with the
money, as long as you pay off the installments in time. It is an unsecured loan
without guarantors, securities, hypothecation or any mortgages. Your income
i.e., salary if salaried and IT Returns if self-employed along with other
factors such as repayment track record and bank statement amongst others are
considered by the banks during loan sanction. Personal loans are available from
Rs.50000/-to Rs.20, 00,000/-for tenure of 1 year to 5 years depending on income
and repaying capacity. The rule of thumb being longer the tenure higher the
loan amount and lower the EMI per month.
But are you getting the Personal loan at the
competent rates or the burden of personal loan interest rates is about to make
a hole in your pocket. Have you checked out the best deals in the market?? To
solve these queries here comes your guide Moneyduniya.com
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