Personal Loan
POSTED BY ON May 23, 2013 1:07 pm ONE COMMENT
I have a few questions on Personal Loan as I am planning to buy a house in december. Is collateral or security needed for a personal loan?What is the minimum and maximum amount that can be issued as a personal loan? And which are the best banks known for personal loans?
Dear Aadra,
Do you intend to take personal loan for buying a home??? Any particular reason?
I think in most cases, personal loan offered by bank is about 12-15 times of your monthly take home salary, if no other EMIs are running, considering maximum repayment period of 5 years.
Personal loan (in salaried class) depends on lot of other factors such as number of years in current employment, total working experience, type of residence and even the current employer status, apart from the salary.
Ashish