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Many times customers experience financial crisis, during those moments they would have to borrow money as soon as possible. They either borrow from relatives and friends
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Such an immediate requirement can be fulfilled by banks and other financial institutions through personal loans
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A personal loan is an unsecured financial product available to both the salaried and self-employed individual |
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| Various products available to procure personal loans are as follows: |
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Income based: Eligibility is calculated on the bases of the income paper of an individual
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Credit card based:If any customer who has a credit card with more than 12 month vintage, different banks provide different multipliers on credit limits available on card and disburse the loan
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Repayment based: If currently customers are utilizing any loan which is more than 12 months old, then based on their repayment history, the bank funds them the loan
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Loan amount available for personal loan ranges from 1 lac to 35 lac depends on customer profile.
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