Retail Loans
Personal Loan is a type of loan which can be used to meet any of your varied personal requirements. Hence, they are also known as consumer loans.
Personal Loans are unsecured loans provided by Banks, NBFCs and Financial Institutions based on several criteria like your credit score, employment history, repayment capacity, IT Returns, professional income & cash flows, previous track record and credit history.
Personal Loans are required to be repaid as per a pre-determined and agreed repayment schedule and rate of interest. The duration or period for repayment can vary from 1 year to 7 years, depending on the lender and borrower profile. Personal loans can also be availed multiple times as long as the borrower meets the credit eligibility norms of the lender.
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