Meet unforeseen expanses with personal loans
To begin with, a personal loan is like any other bank loan which the bank offers to its customers for a fixed time period and charges interests on it. However, for availing this loan, the applicant is not required to deposit any collateral or guarantor with the bank.
These loans are for meeting the immediate requirements without much of a hassle. Be it home improvements, meeting unforeseen expenses, wedding or holidays, one can apply for these loans. Let's take the case of Mr. Shyam Sinha who is in urgent need of funds for paying hefty medical bills. Here, this bank loan will be the best respite for him as one can get these loans with in 24 hours or within a maximum time period of 7 days. The banks even don't ask the end purpose for which the applicant wants the loan.
HDFC Bank, Axis Bank, ICICI Bank, State Bank of India (SBI) and Allahabad Bank are among the major providers of personal loans [http://www.paisawaisa.com/loans/personal-loans.aspx] in India which offer a wide range of other loans as well, to cater to the individual needs of their customers. For instance, while applying for HDFC personal loan, there is no need to pledge any security or guarantor with the bank. The bank also promises easy and quick approval of loans, with minimal documentation.
Now, if a person is planning to opt for this loan, he/she can apply online as well. Even the application process is now much simpler. The maximum amount of loan depends upon the repayment capacity of the applicant. One can also combine the income of his/her spouse into his/her income to increase the eligibility for obtaining the loan. The debt can be paid back in equal monthly installments. The repayment period ranges from 1 to 5 years. The rate of interests is also negotiable in many cases. It generally ranges between 15-18 per cent.
However, to avail this loan, one needs to fulfill a number of conditions such as a professional degree, employment status, a salary account among other things. Repayment capacity, age, personal income are among other factors, which are taken into consideration while approving the loan amount.
Banks also tend to charge a high interest rates on these loans as they don't ask for any security or guarantor against the loan amount. To cover the high risk factor, banks charge very high interest rates as compared to other secured loan products. Therefore, one should make a proper market search to sign up for the best loan deal. At present, HDFC personal loan is among the most sought after bank loan products in India.
How to grab the best loan deal?...As such, there is no hard and fast rule for grabbing the best loan product, however a small chat with your friends and relatives may help you in opting for the best personal loan deal. Internet has also emerged as a strong medium to check out best bank loan deals available in the market.
These loans are for meeting the immediate requirements without much of a hassle. Be it home improvements, meeting unforeseen expenses, wedding or holidays, one can apply for these loans. Let's take the case of Mr. Shyam Sinha who is in urgent need of funds for paying hefty medical bills. Here, this bank loan will be the best respite for him as one can get these loans with in 24 hours or within a maximum time period of 7 days. The banks even don't ask the end purpose for which the applicant wants the loan.
HDFC Bank, Axis Bank, ICICI Bank, State Bank of India (SBI) and Allahabad Bank are among the major providers of personal loans [http://www.paisawaisa.com/loans/personal-loans.aspx] in India which offer a wide range of other loans as well, to cater to the individual needs of their customers. For instance, while applying for HDFC personal loan, there is no need to pledge any security or guarantor with the bank. The bank also promises easy and quick approval of loans, with minimal documentation.
Now, if a person is planning to opt for this loan, he/she can apply online as well. Even the application process is now much simpler. The maximum amount of loan depends upon the repayment capacity of the applicant. One can also combine the income of his/her spouse into his/her income to increase the eligibility for obtaining the loan. The debt can be paid back in equal monthly installments. The repayment period ranges from 1 to 5 years. The rate of interests is also negotiable in many cases. It generally ranges between 15-18 per cent.
However, to avail this loan, one needs to fulfill a number of conditions such as a professional degree, employment status, a salary account among other things. Repayment capacity, age, personal income are among other factors, which are taken into consideration while approving the loan amount.
Banks also tend to charge a high interest rates on these loans as they don't ask for any security or guarantor against the loan amount. To cover the high risk factor, banks charge very high interest rates as compared to other secured loan products. Therefore, one should make a proper market search to sign up for the best loan deal. At present, HDFC personal loan is among the most sought after bank loan products in India.
How to grab the best loan deal?...As such, there is no hard and fast rule for grabbing the best loan product, however a small chat with your friends and relatives may help you in opting for the best personal loan deal. Internet has also emerged as a strong medium to check out best bank loan deals available in the market.