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Loan and interest rate in Delhi-Know more

Personal loan is granted to consumer for personal use. Rate of interest for personal loan in India varies upon many criteria like income level of the one’s.

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Loan and interest rate in Delhi-Know more

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  1. Loan and interest rate in Delhi: Know more

  2. When one entity provides any kind of debt to the another entity at an interest rate, it is known as Loan. There are many types of loan offered by banks and financial institutions. Loans are either unsecured or secured. Secured loans are provided if a person has any guarantor or any other income proof. Unsecured loans are provided mainly to self employed people on the basis of their income. Loan interest for employed people is depends on many criteria like income, company status, and credit and payment history, relationship with the bank as well. For self employed consumer bank see other factors like annual income tax return. Income rate and company with which consumer is associated also matters.

  3. So we will talk about personal loan, business loan and motor loan in a brief. Personal loan is granted to consumer for personal use. Rate of interest for personal loan in India varies upon many criteria like income level of the one’s. Every bank in India is providing personal loan on their interest rate which is based on bank’s classification. Recently RBI cuts the repo rate by .25% on 15 January 2015 and now new repo rates are 7.75% and speculations are there that in coming 2-3 months all banks will also decrease their personal loan interest by .25%. Another type of loan is motor loan where one take a loan to buy any type of motor as car, bikes etc.

  4. Car loan interest rate in Delhi is also different for different banks. To take the car loan a person should be between 21 to 67 years old, should be employed/ self employed. The common monthly interest rate is for car loan is between likely between 10.5 to 12.75% .Another types of loan which is provided by banks is business loan which provided to a person if he wants to open a new business or he needs some financial help for its existing business. Now a day’s all banks provide business loan eligibility calculator in which person can check whether he or she is eligible to get the business loan or not. It has another feature which is called business loan eligibility calculator which can show you that how much EMI you have to pay on monthly bases if you take the business loan.

  5. Need2loans.in is a Delhi based all types of Loans provider leading agency, you can apply online of all types of loans at lowest interest rate from any banks. • For Original source of this article post visit here:-http://www.washblog.com/story/2015/2/3/22437/94238

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