Almost all banks offer personal loans to individuals. You should be minimum 21 years of age to avail a Personal Loan. Maximum age should be 60 years for salaried and 65 for self employed individuals.

For a self employed individual- he should be in business for last two years. His business should be in profit.

For a Salaried individual- he should be in service for at least one year in the current organisation.

Rate of interest:

The rate of interest for personal loans is calculated according to the Base Rate of the respective bank. The rate varies as the profile, purpose and loan amount from customer to customer.

Repayment Period:

The loan can be repaid from minimum 12 months to maximum 60 months depending on the loan amount and the bank norms.