How to Apply for Best Personal Loan in India
Personal Loans are expensive one which is designed to attract people who needs emergency funds. Personal loans are unsecured which means you don’t need to provide any security or collateral to bank.
Personal loans can be utilized for any purpose like travel expenses, medical emergency or college fees. Unlike the Home Loan or Car Loan, it can be used for any purpose and bank will not raise any question in this respect.
The Interest Rates of Personal Loans are very high ranging from 12% to 20% and it depends upon the risk involved in the repayment. For example if your credit history is not good then the interest rate will be more than 15%.
You should not apply for personal loan unless there is emergency and you don’t have other options available to get funds.
Before apply for personal loans, you should compare the interest rates and other charges on the websites like charteredindia.com, moneycontrol, economictimes etc.
