Q What is Personal Loan?
A personal loan is an unsecured loan with fixed payments schedule. The banks don't bind the applicant to use the personal loan in any specified way.
Close |
|
Q What can I use a personal loan for?
It can be used for any purpose like - paying high credit card bills, marriage expenses, buying consumer durables, etc.
Close |
|
Q Can I apply jointly with my wife?
No, you cannot apply jointly with your wife for a personal loan. Both need to apply separately.
Close |
|
Q What are the minimum and maximum loan amounts?
You can avail the loan amount ranging from Rs.60,000 to Rs.50,00,000 depending on the eligibility parameters of the bank / NBFC you have applied in.
Close |
|
Q What are the tenure options for the loan?
You can avail the facility of repaying of your loan in 12 to 84 months, depending on the policy of the bank / NBFC you have applied.
Close |
|
Q Will there be any charges for availing the loan?
A processing fee may be applicable, which the bank / NBFC may deduct from the disbursal amount or finance with the loan amount. The fee and charges are subject to bank / NBFC policy.
Close |
|
Q Do I have to provide any security, collateral or guarantors?
The Banks/NBFCs do not require you to submit any security, collateral or guarantors for availing Personal Loan.
Close |
| |