According to data provided by the Reserve Bank of India, the volume of personal loan borrowings has increased sharply in the past couple of years. Personal loan borrowings have increased to a sum of Rs. 19.33 lakh crore as of June 2018 as compared to Rs. 5.89 lakh crore in 2010. The significant increase is attributed to many factors. Regardless of the sum borrowed, lenders ensure that the loan is quickly approved and the sum is disbursed to your account promptly.
Lenders have not laid down restrictions on the purpose for which one could apply for a personal loan. Personal loans offer tremendous flexibility and are an excellent option for any planned expenditures or surprises that life may throw at you. This is why you should consider opting for a Rs. 50,000 personal loan:
The eligibility criteria for personal loan to borrow a sum of Rs. 50,000 is as follows:
Before deciding to opt for a personal loan, it is advisable to calculate the exact amount you can borrow. Your eligibility depends on factors like age, income, existing loans etc. Log into the website of your loan provider and use a personal loan eligibility calculator to calculate the amount you are eligible for, your personal loan EMI, the other offers you are eligible for etc.
Post deciding to borrow a personal loan, compare offerings provided by different providers and shortlist on one that best suits your requirements. Giving your dreams wings is just one loan away!
Borrowers avail personal loans for a host of reasons. These reasons could range between managing unexpected emergencies…