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Home > Videos > Personal Loan in Kannada - ಪರ್ಸನಲ್ ಲೋನ್..! ಮೋಸ ಹೋದಿರಿ ಹುಷಾರ್ | C S Sudheer Exclusive

Personal Loan in Kannada - ಪರ್ಸನಲ್ ಲೋನ್..! ಮೋಸ ಹೋದಿರಿ ಹುಷಾರ್ | C S Sudheer Exclusive

About Personal Loan :   A Personal Loan is a loan sanctioned by a lender, without any security (collateral). So, it is an unsecured loan. Personal Loans are sanctioned by banks and Non-Banking Financial Companies (NBFCs). You don’t need to state any reasons while availing personal loans.   Personal Loan is the best loan to fund financial emergencies. It is a great way to address a financial crisis, as it allows the borrower to avail of a loan without any conditions. Personal loans are sanctioned rather quickly. They may be approved as quickly as 24 - 48 hours after the borrower submits the loan application. Personal Loans are availed on the basis of specific criteria, such as level of income, employment history, credit score, and scope for repayment.   What is the Interest Rate of Personal Loan :   The personal loan interest rate depends on the CIBIL score. If you have a good CIBIL score of 700-750 and above, you get a personal loan at low-interest rates. If you have a bad CIBIL score, the bank charges a high personal loan interest rate. A very poor CIBIL score means banks won’t sanction the personal loans. If banks offer low personal loan interest rates, opt for shorter personal loan tenure. You can easily manage the personal loan EMIs and you save on interest in the long run. Banks charge personal loan interest at 10.5-24% a year.   Interest Rate                           10.50% onwards Processing Fee                       Up to 2% of the loan amount Loan Tenure                            Upto 5 years Lowest EMI Per Lakh              Rs.2,149 for 5 years Prepayment Charges              Nil to up to 5%   Common charges on a personal loan 1.Payment dishonor charge 2. duplicate statement charge 3. cheque swapping charge 4. duplicate no dues certificate 5. duplicate amortization schedule charges 6. loan re-booking charges 7. loan cancellation charges 8. legal charges 9. Stamp Duty 10.CIBIL Report.                      

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