Meet Urgent Financial Needs With Sbi’s Personal Loans

by Rihanna D'souza seo expert

Planning a foreign tour or a domestic tour? Extending to buy consumer durables? Looking to have a personal computer or a laptop with fully loaded software?

Such expenses are often unplanned and thus need financial assistance. Even the emergency medical treatments come under this category. The medical treatment and medical expenses are never planned and the person feels helpless when such situation occurs. Personal loans are designed to fulfil the desires for unpredictable and unplanned expenses.

For any unpredictable financial needs, the SBI Saral – Personal Loan is the solution. Approach the State Bank of India, standing in nearby area or visit the bank’s website. Here you will get the detailed information about the SBI Personal Loan schemes.

Loan for Legitimate Purpose

State Bank of India grant personal loan for any legitimate purpose such as:

·         Domestic or foreign travel expenses

·         Meeting financial liability

·         Medical treatment of the applicant or a family member

·         Marriage of sun or daughter

·         Purchase of consumer durables

·         Defraying the educational expenses of wards

·         Purchase of laptop or personal computer and software

The personal loans are thus, provided to meet urgent financial needs. It is sanctioned to the salaried individual, self-employed professional and to a businessman. Self-employed engineer, doctor, chartered accountant, architect and a person with MBA with minimum 2 years standing are eligible to opt for personal loan from SBI.

No matter, what are your desires; the loan amount to be sanctioned has limits. The amount of loan to be sanctioned is determined after studying different factors. The incomes of the applicant, age, repayment capacity, etc. are given top priorities while sanctioning the amount. For urban centers, the minimum amount to be sanctioned is Rs. 24,000/- while it is Rs. 10,000/- for remote and semi-urban areas. Maximum 12 times of the net monthly earning of a person is sanctioned as a personal loan.

Secured Or Unsecured Personal Loans

The personal loans are always unsecured. But if the borrower is able to provide collateral, it is beneficial. By providing collateral securities, the interest rate gets reduced and the burden of repayment is reduced to some extent. The home, car, shares, gold, and any other form of property can be used as collateral to opt for personal loan at a discounted interest rate.

Unsecured personal loans are best suitable for the applicant who does not own a property. Though the unsecured personal loans are sanctioned quickly, they accounts for a higher interest rates.

The repayment of the personal loans is always for 48 months parted with equated monthly installments. The borrower can pay more than the EMI decided without any penalty.

Quick Sanction Of Personal Loan

If the applicant is eligible for providing personal loan, the amount is sanctioned quickly without 3 to 4 days for salaried and 10 days for others. The applicant needs to submit address proof, age proof, income proof and Form 16.

The personal loans are designed for urgent financial needs of a person. For any emergency financial requirement, any individual can approach the SBI and demand for SBI Personal Loan.

For More Info: http://www.personal-loans.co.in/

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Created on Dec 31st 1969 18:00. Viewed 0 times.

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