Personal Loan Required

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  1. RavijShankar

    RavijShankar New Member

    I put up in bangalore, My monthly income is 50K can i get a 3,Lakhs personal loan. What kind of the process for applying please share with me your experience which help me to choose best bank.
  2. A Venkateshwarlu

    A Venkateshwarlu New Member

    Search in, 3 months payslip, 6 months bankstatement, last 2 years IT returns etc. required
  3. Arwind Sharma

    Arwind Sharma New Member

    It seems you are trying to take a loan of much lower amount than you can actually apply for. You have mentioned that your monthly income is Rs. 50K, so the maximum limit of applying for a loan can be pretty higher. However, if you just need a loan of Rs. 3 lakhs you can surely go for it.

    You will get two options to apply for a personal loan. You can either visit the branches of the lenders or you can simply apply for a personal loan in bangalore online. To avoid any kind of hassle and for fast approval, you can opt for online application procedure. You can further reduce your effort by applying in an NBFC. They involve minimum documentation process and many other facilities that are rarely found in any bank.

    However, if you apply for a loan of Rs. 3 lakhs, for tenure of 5 years, your EMI will be Rs. 7K (approx.). This is a very minimal amount as per your capacity.

    The best way to choose the suitable lender is to do a comparative study among all the lenders in the market. But I would recommend you to go for an NBFC to experience a smooth process.
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