personal loan interest rates

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personal loan interest rates

 

While personal loan interest rates are a great way of receiving financing for any any short-term requirements, the interest rate and other charges associated with it are usually dependent on the type of credit facility availed. The personal loan interest rates  for personal loans in India can range from as low as 10.65% p.a. to as high as 24% p.a. or even more depending on multiple factors. Some of the key elements which determine the interest rate offered by a lender to a borrower are:

Credit history of the applicant along with his/her repayment history
Applicant’s net annual income
Credit score of the borrower
Relationship with the bank
Current employer’s reputation
Stable source of income
Debt-to-income ratio
Individual negotiation skill

A personal loan interest rates can also be used for various purposes, and hence it is also known as the multi-purpose loan. Be it a wedding, remodeling your home, paying for your higher education fees or planning for a holiday, hobbies ,an instant personal loans can help you fulfill all your requirements. As the loan has varied advantages, it caters to the need of every section of individuals. A personal loan can also be availed without collateral, and hence can be availed by salaried individuals, as well as students.Whether you are planning your next dream vacation with your loved ones or your marriage function, a personal loan offers the double benefit of quick access to funds and zero need for collateral to be put up as more security. 

You don’t need to worry about pledging any collateral. Simply meet the basic eligibility criteria and avail funds up to Rs.25 lakh with minimal documentation. Repay your loan with ease with our flexible repayment tenor ranging from 12 months to 60 months.

List Of Documents:-

—3 Month Salary slip
—Pan card
— Photo
— Residence address proof (ADHARCARD, VOTER ID CARD, PASSPORT, ANY BILL)
— Office address proof (Office ID card)
— Ownership Proof ( ELECTRICITY BILL, WATER BILL, HOUSE TAX RECEIPT, PROPERTY PAPER)
— Last 2 yrs. Form 16 with complete financials
— Last 6 months bank statement of the main account
— All running loan schedules

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