12:48 PM Personal Loans in Chennai, Personal Loan In Chennai, Personal Loan, Low Interest Personal Loans | ||||
#low interest personal loan # PERSONAL LOANPersonal Loans are the loans which are provided by Banks and NBFC’s (Non Banking Financial Company) without any collateral security, this means that there is no risk on owned property. Personal loans are generally taken to manage higher standard of living, marriages, promoting business, tours, petty expenses and investment in different financial schemes. The Bank / NBFC takes the highest of risk by giving personal loan without any security, the bank will charge higher rate of interest ( 14% onwards ) as compared to other loans ( Home Loan, Mortgage Loan, Car Loan and etc.,). You can repay the loan in defined EMIs by banks, the tenure of personal loans it not extended more than 2 to 5 years and makes sense to make the repayment well before the tenure as personal loans have a high rate of interest attached. Personal loans are available in the range of Rs 50,000 to Rs 15, 00,000/- If you are employed and earn a monthly income, you are eligible for personal loans. You can be a salaried, self-employed professional or business man. The amount of loan eligibility will differ based on the person's current earnings. Processing charges / Service charges of up to 2% of the loan amount is levied. This charge might differ across various lenders. You can repay a personal loan by issuing post-dated cheques or EMI for the entire duration of the loan. After your personal loan amount is approved by the lender – the loan is disbursed either by direct credit into your bank account / cheque / draft Usually lenders promise to give your loan within seven working days. If you want to avoid further delays, you must keep all your necessary documents ready, especially the post dated cheques (PDC). Banks from where you provide your PDCs require at least a day or two’s notice to give you the cheques. The loan is disbursed only after all the required documents are submitted. You need to provide proofs of your age, identity, residence address and income. The following list of documents can be used as proof. Apply Personal Loan Now
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