Your neighbors are going on vacation. Your friends are on vacation. When will you go on vacation? Your wife and kids are troubling you. They want that holiday. This is when you decide to avail a personal loan to go on that vacation.
Citizens avail personal loans for marriage expenses, vacation, emergency hospitalization or even for or even for a business. It’s your No Reason Loan. You don’t need to give any reasons when availing a personal loan.
So, should you avail a personal loan to go on vacation? Let’s find out. Want to know more on Personal Loan? We at IndianMoney.com will make it easy for you. Just give us a missed call on 022 6181 6111 to explore our unique Free Advisory Service. IndianMoney.com is not a seller of any financial products. We only provide FREE financial advice/education to ensure that you are not misguided while buying any kind of financial products.
Banks and NBFCs charge an interest of around 12-24% a year on personal loans. Personal loans have a tenure of 1-7 years.
Let’s say you avail a personal loan of Rs 10 Lakhs for tenure of 60 Months. This table shows you how much EMI you pay and also the total interest you pay under different interest rates.
SEE ALSO: What is NAV? How is NAV Calculated?
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