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Personal loans are general purpose loans which are used by people for a variety of purposes. These are instant loans which provide money for a short interval of time. People who are in the urgent need of money due to some financial matters can easily avail personal debt. Personal Loan as its name suggests is structured for various personal reasons. Various banks are indulged into a personal loan business. Private banks like ICICI Bank provides ICICI Personal Loan to the people at affordable personal loan rates. Banks are very strict about these loans and hence a person should be much aware about all the basics of personal finance. Personal Debt is unsecured: Personal debt is an unsecured debt and hence you will not need to use any property as collateral. Hence the bank will not have any property to seize, and you are in great benefit. But it does not mean that you should repeatedly repeat and again. You must take this loan unless you do not have any fiscal source to fulfill all of the personal needs. It is the best loan option for all of the non homeowners and tenants who do not have any asset to pledge. Personal Loan has short tenure period: A person who wants to avail personal debt can easily avail loan amount ranging from 50,000 to 10 Crore according to his / her requirement. The borrower can easily repay the whole loan amount by making flexible monthly repayments in the form of Equated Monthly Installments (EMI). A person has the option to pay the entire loan amount within a tenure period of 12- 60 months very easily. The factors affecting a Personal Loan: Bans check the repayment capacity and credit history of the borrower. A person with a credit rating above 700 with no financial backlog can easily get personal debt at low Personal Loan Interest Rates. An applicant who does a full time job with minimum income of 15,000 is entitled to avail unsecured debt at low rates. A person getting salary in hand is not eligible to get personal finance. Applying for an unsecured debt: A person who is in the urgent need of cash and want cash instantly can apply for loan by online process. Online way of applying personal debt is the best way to save money, time and efforts altogether. Benefits of personal loan: A personal loan is the multipurpose loan which can be used for a variety of purposes. These uses can be paying medical bills, marriage expenses, debt consolidation and for many more purposes.
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icici personal loan, personal loan interest rates,
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