money always plays the most important role in human life. The desire to satisfy personal needs and come to mind everyone but ensure that it is not always possible. But in a country like India, which can not be an obstacle to achieving the wishes of the family. Because there are hundreds of banks and other financial institutions in the country who provide loans for personal reasons. It is known that these types of loans personal loans. India's impact on one of the top positions in terms of providing this type of loan.
personal loans are simply those retail loans which are provided for the purpose of meeting the needs and personal expenses for individuals (prospective borrowers). And it offers personal loans in India in the first place under the five main categories. Although the amount of the loan and the interest rate varies from one bank to another, but the purpose of providing these loans are the same. Aside from personal purposes, if a person wanting to create his own company also owns then Indian banks are always welcome through the provision of loans to start a business. Here, we will discuss about these types of loans
consumer durables loans: - The provision of these types of loans for the purchase of durable consumer products such as TV, music system, washing machines, and so on. This is one of the unique loans that are provided by the Indian banks to attract more and more people towards them type. Under this category of personal loans, you will get the amount ranging between Rs.10,000 to Rs.1,00,000. But there are many banks that offer a minimum of Rs.5,000 and the maximum amount of Rs.2,00,000 under this loan. These banks offer loans for a maximum period of 5 years
loans Festival: - The provision of this type of personal loans to help people achieve their personal and family wanting to time during the festival. Usually, the leading banks in India offer this holiday season on loan at cheaper price or discounted. This is the best type of loan for those people who wish to take advantage of a small amount of the loan. Under this category of loans, banks do not provide the minimum Rs.5.000 and you can get the maximum amount of Rs.50,000 under this type of loan. But the festival loan up to 12 months is limited. Payment that is equal monthly installments (EMI). Interest on this loan rate varies from one bank to another
loans Marriage: - At present, this type of personal loans and equal access to popular among the people of the urban and rural sectors. The loan amount depends on several factors, including the age of the applicant, and the security pledged by the applicant (the loan if the content), and the ability to repay the applicant etc. under the Marriage loan, the interest rate is governed by the prevailing market price at the time when the loan is disbursed
pension loans: - there are many banks in India which takes care of people who are between the ages of old, too. This is the reason that people who have retired from their jobs will also be able to take advantage personal loans . This is called a type of loan pension loan. Under this type of loan, and provide banks the maximum amount of up to 7-10 times the amount that was received as of last pension
personal computer loans: - in this age of information technology revolution, and there is a owned computer becomes a quasi necessity. There are many Indian banks offering loans that meet the wishes of the people. Under this category of loans, so the amount of Rs.1,00,000 can borrow. Banks also offers a separate loan to buy software that can be made to the amount of Rs.20,000. The interest rate is calculated according to the benchmark lending rate, and there are some banks who charge an additional 2% of the loan amount.
So, from the above discussion, one thing is quite clear that whatever your purpose is your and whenever you need to cover your financial expenses, Indian banks are always ready to deploy a helping hand for you.
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