What is Personal Loan?

Personal loan is an unsecured loans given to individuals on the basis of their profile/ income/ employment and years of work experience . Personal loan do not require the borrower to give any kind of security or collateral. Personal loans are costlier given that the bank has no security, however it is the product- of-choice when funds are required urgently or the borrower has no other security to offer the bank.

Eligibility calculation for a Personal Loan

Eligibility is determined basis:

• Your current income
• Years of work experience
• Nature of your job and the company you work for
• Your current obligations i.e. the other Installments (EMIs) you are currently paying, the number of credit cards and credit limits you have or use
• Your past credit history is likely the most important determinant in being able to get a personal loan

Apply for Personal Loan