NEWS & ADVICE : PERSONAL LOAN
Benefits and drawbacks of personal loans in India
By Ankit Sharma
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Personal loans are a panacea for any urgent cash crunch. A medical emergency, payments for a laptop, funding a vacation, quick cash for marriage- whatever the need, personal loans are here to help. Banks in India are more than willing to give a personal loan to the right applicant, but before jumping on the bandwagon it would be good if a borrower knows the benefits and drawbacks of taking a personal loan.

Benefits of a personal loan in India

1. No questions asked about the end use of the money

Banks will simply give the cash and it's up to the borrower, where to use it and how to use it. So, it is a very convenient monetary help.

2. No collateral, security or guarantor requirements

Personal loans are solely granted on the basis of an individual's credit-worthiness. Banks do take into account the income, employment, continuity of business and other factors so as to establish the fact that the borrower will be able to repay the personal loan with interest in due time. No collateral or security requirements are put forth by the banks for issuing a personal loan. This saves a lot of embarrassment and hassles.

3. Total confidentiality

Since there are no security or collateral requirements, personal loans can remain a secret between you and the bank. Moreover every bank has some privacy policies, which ensures adequate confidentiality.

4. Easy repayment

Banks provide personal loans for 12 to 60 months. Varying from bank to bank, these tenures allow easy repayment options to the borrower. The borrowed amount along with the interest rate is calculated for the entire tenure of the loan and a EMI is calculated which the borrower has to pay every month. Personal loans also come with a prepayment clause.


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(Comments Posted : 15) Post Your Comments
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morris (Posted: Dec 2, 2016)
2. Get a Loan Today At 3% Interest Rate, contact us at:stellamorrisloanfirm@gmail.com

Welcome to STELLA MORRIS LOAN FIRM, This is a legit loan Company, formed to help individuals who are in need of financial crises and help them achieve their goals in life.

Available Loans we offer are,

1. Personal Loans (Secure and Unsecured)
2. Business Loans (Secure and Unsecured)
3. Combination Loan
4. Consolidation Loan And Many More:

Interested clients should please send request to our email for application form and terms. Try and see for your self, our wonderful services that does not exceed working days for loan processing and just only (1)hour 35 minutes of loan Transfer.

EMAIL---[ stellamorrisloanfirm@gmail.com ]

Warm Regards
morris (Posted: Dec 2, 2016)
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Mustapha Mahmood (Posted: Nov 7, 2016)
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