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Overview
A personal loan is a loan that does not require collateral or security and is offered with minimal documentation.
You can use the funds from this loan for any legitimate financial need. Like any other loan, you must repay it accordance to the agreed terms with the bank. Normally this can include a few months to a few years in easy equated monthly instalments.
Frequently Asked Question
No need of giving any security apart from security cheques.
Processing fee in personal loan varies bank to bank, normally it’s start from 1.00% to 2.50% of loan amount.
EMI stands for Equated Monthly Installments. This installment comprises both principal and interest components. EMI is based on the loan amount, rate of interest and the repayment period.
In personal loan bank do offer loan for 1 year to 5 year depending upon net salary, company you are working & age.