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Bangalore, Karnataka » Business

home loan in bangalore | personal home loan bangalore

Personal loan is a loan which will meet all your financial needs, expenses. One can easily accomplish his/her dream by taking personal loan. This is the loan which takes care about everything, let it be anything special and personal too. Personal loan is also considered as unsecured loan or signatured loan, these are not secured by colleteral. This type of loan is issued and supported only by the borrower's creditworthiness. It is extremely important to have high credit scoring for taking personal loan.

All salaried employee with a public, private, multinational or government organization, who are currently working are eligible for personal loan. Getting the personal loan is very fast. Your personal can be sanctioned from couple of hours to 2-3 days. With minimal number of documentation, usually personal loan don't need much documentation compared to other loan.

Personal loan can range from Rs 50000 to Rs 20 lakhs for 1-5 years. Processing Fees, which charged at the time of processing is around 2-3% of the loan amount. Prepayment penalty paid at the time of pre-closure also varies from 2 – 3 %.

A person can avail personal loan, as much as he can repay. Each bank have there own ploicies and different interest rates. According to Astar Financial Solutions interest rates are between 14%-26%. But it totally depends upon the policies and your profile.

As personal loan don't need any security, that is why they are regarded as a high risk by the lenders. And this is why these loans carry a high inetrest rates. As these loans are highly risky so the lender checks the borrowers credit rating. So if your credti rating is poor, than your application would be cancelled. If you are facing emergency, than personal loan is the best way to fulfill your needs.

For more details go through
Address: lingarajapuram, 6thmain,6thcross, Bangalore, Karnataka, India
Posted: 23.8.2016
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