Personal loans is the quickest way for an individual to finance their financial need Personal Loan offered by Financial institution to the individuals as per individual earning capacity with the repayment schedule. However the disbursal of the loan is comparatively fast which makes it a lucrative options for those individual who is looking for fast financial Fix.

What are personal loans?

A personal loan is kind of unsecured loan that is offered by the financial institution to the borrower without any collateral against the sum borrowed. The loan amount for which each borrower is eligible varies based on their income and repayment capacity.

 Who is eligible to avail a personal loan?

Salaried and non-salaried individuals are both eligible to take personal loans. To be able to apply for a personal loan, the applicant must be at least 21 years old and cannot be older than 60 years (for salaried individuals). The upper age limit for self-employed individuals is 65 years. With regard to monthly income, the applicant should have a minimum monthly income of Rs.25,000.