Personal Loan: If you require urgent funds to cover your expenses, a personal loan may be a more suitable choice. These loans are offered by online lenders, banks, and NBFCs. These loans do not require collateral, making your credit score and income the key elements for qualifying for the loan.
If you require a personal loan but your earnings are low, you might encounter challenges in having your personal loan application accepted. Inform us about some of the prominent private and government banks in the country that offer personal loans to individuals with low income.
Banks providing personal loans for low income individuals.
Minimum Salary for Bank/NBFC
ICICI Bank ₹30,000
HDFC Bank ₹ 25,000
Kotak Mahindra Bank ₹25,000
IndusInd Bank ₹25,000
State Bank of India ₹15,000
Axis Bank ₹15,000
ICICI Bank
Interest Rate: Beginning at 10.85%
Maximum Loan Limit: Up to Rs 50 lakh
Loan Duration: Maximum of 6 years
HDFC Bank
Interest Rate: Beginning at 10.85%
Maximum Loan Amount: As much as Rs 40 lakh
Loan Duration: Maximum of 6 years
Kotak Mahindra Bank
Interest Rate: Beginning at 10.99%
Highest Loan Amount: Up to Rs 40 lakh
Loan Duration: Maximum of 6 years
IndusInd Bank
Interest Rate: Beginning at 10.49%
Highest Loan Amount: Up to Rs 50 lakh
Loan Duration: Maximum of 6 years
Bank of India
Interest Rate: Beginning at 11.45%
Highest Loan Amount: Up to Rs 30 lakh
Loan Duration: Maximum of 6 years
Axis Bank
Interest Rate: Beginning at 11.25%
Maximum Loan Limit: Up to Rs 10 lakh
Loan Duration: Up to 5 years
Desclaimer : For any financial invest anywhere on your own responsibility, Times Bull will not be responsible for it.