Factors that’s Affects Personal Loan Interest Rate.
Personal lending has become one of India’s most common types of financial services. There is no another-size-fits-all personal loan plan because each borrower would have their own financial criteria and expectations. The principal amount and interest rates for personal loans will vary based on your profile, credit score, source of income, EMIs, and credit card bill. Today, markets are full of attractive offerings for customers on personal loans. You can use as low as Rs 1 lakh and for 12 to 60 months you can go up to Rs 30 lakhs. You can make use of a loan with competitive 10.75 % interest rates and small processing fees on it. The accurate rate is based upon the credit profile of the borrower. That loan amount can be used depending on fund use, and that’s why borrowers borrow personal loans to meet their financial goals such as medical expenses, home improvement, debt reduction, wedding expenditures, college financing, business growth, Buy gadgets and more. Your salary, credit score a