Top 12 Personal Loans from Private Sector Banks in India

A personal loan is one of the best options if you are looking for a collateral-free loan. It can be used for any purpose as there is no end restriction on the usage of funds. Many take the loan for emergency expenses. An alternative to this loan is a small cash loan, which is a short-term borrowing of tenure 1 month to 6 months.

List of Top 12 Personal Loans
popular personal loan schemes

In this type of borrowing, you can take between Rs. 10,000 and Rs. 50,000. A traditional personal loan on the other hand is a longer tenure borrowing between 1 year to 2 years or maximum 5 years. The borrowing amount starts at Rs. 1 lakh.

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Ways to choose the best repayment duration when opting for a personal loan

Basic points that individuals must consider when choosing the repayment period of a personal loan
personal loans

Personal loans have become very popular of late because of the simple procedure to avail one. At most times, pre-approved personal loans are available. Personal loans can serve individuals in case of medical emergencies, higher education, travel plans, etc. However, even though it is very convenient for individuals to get a personal loan, it is vital to understand how a personal loan works and its repayment process. A personal loan is a form of an unsecured loan which has a repayment tenure that is flexible and can be chosen by the individual as per their capabilities.

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How Instant Personal Loans can Help in Times of Emergency

What is the benefits of Instant Personal Loans
Instant Personal Loans in time of emergency

In the event of a financial emergency, it is likely that you will want to get your hands on the required funds immediately. During such times, you can consider applying for an instant personal loan from a bank or financial institution. There are a number of lenders in the country that offer instant personal loans to prospective borrowers. This article mentions a few things that you should know about instant personal loans.

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