Applying for a loan is the best option to finance your projects and other needs such as home renovation, financing your studies or unexpected expenses such as medical emergency that may arise.
It is the banking product that will allow you to receive a certain amount of money agreed between the applicant i.e. you and the borrower i.e. financial lender that will offer the loan in return of interest on the total borrowed capital. The principal loan amount along with the interest is to be repaid during the specified term which are usually months or years.
There’s no better or worse bank. The entity that grants you the loan you want and with the best conditions will be the best, regardless of its brand or size.
Although everything looks easy to read but getting a loan is not because of strict eligibility criteria. And income of the applicant is one of the most basic requirement for the loan to get approved.
In this article, you”ll find links to varied topics such as –
- Personal loan for low income earners
- Personal loan options for different income earning individuals
- Financing options for freshers, teachers and government employees
So here are the links to various articles related to personal finance –
- 38 Lenders offering loan to low income earners
- 9 Options for INR 13,000 Earners to Get Personal Loan
- 14 Banks offering Personal Loan to Rs. 8,000 Earners
- 3 Options for Freshers to Get Loan
- Covid-19 specific Personal Loan from 6 Banks
- 30 Lenders offering Finance to INR 25,000 Monthly Earners
- 16 Financial Institutions to Contact, if you’re earning Rs. 18000 per month and seeking loan
- Micro Loan or Personal Loan for Business which one you should choose?
- How to get personal loan during lockdown at Lowest Interest?
- Personal loan for teachers
- Financing options for government employee
Personal loans are very risky for the lender since they are mostly unsecured i.e no collateral is asked by the bank. This is the reason why higher interest rate is charged by the lenders. However there are loan types requiring collateral and these are called as secured loans which are offered against:
Financial institutions offer numerous personal loans, also called as consumer loans, with different trade names (car loans, holiday loans, wedding loans…), but with a few small variations they are all practically the same.
Hi, I am Nikesh Mehta owner and writer of this site.
I’m an analytics professional and also love writing on finance and related industry. I’ve done online course in Financial Markets and Investment Strategy from Indian School of Business.