Best Personal Loan, If you’re looking to take out personal loans in India, one of the first things you should look into is the amount you can borrow. Different lenders will have different criteria that determine the maximum amount they’re willing to give to each borrower, so it helps to do your research ahead of time in order to maximize your borrowing power and get a loan offer that you know will work out well for you. Here are some of the best personal loans available in India as of 2018, broken down by monthly installment and total amount borrowed.
Salaried people with a monthly income of Rs. 25,000 can avail of loans at lower interest rates and with more flexible repayment options. The requirements to get the loan are:
– A minimum salary of Rs. 25,000 per month
– Age between 18 and 60 years
– Valid bank account
Personal loans are typically used by people with a low or no credit score, but they’re also an option for salaried professionals as well. These loans are based on the principle of borrowing money from a financial institution and repaying it over time. There are two types of personal loans: secured and unsecured. Secured personal loans require collateral such as property, vehicle, stocks or bonds to provide security against the loan amount. Unsecured loans do not require any collateral; however, they usually come with higher interest rates.