But are you getting the Personal loan at the competent rates or the burden of personal loan interest rates is about to make a hole in your pocket?? Have you checked out the best deals in the market?? To solve these queries here comes your Genie BOMBAY LOAN EXPERTS.

Personal loans can be availed for any purpose and so it helps at any given point of time.But The rate of interest for personal loan is very high as compare to any products, It varies from profile to profile so it is advisable to take a personal loan for most small type of purposes, even for buying consumer durables. You should know the advantages and disadvantages of personal loans before going for it.

Advantages

Personal loans do not require you to produce any collateral or security, like other loans.

There is no agent or middleman while obtaining this loan.

All that is required is that you need to satisfy the eligibility criteria.

You may use the loan for educational or even holiday purposes.

You can avail a personal loan during times of emergency when you are short of cash, since you need not answer too many questions to the bank.

You may avail personal loans according to your eligibility ranging anywhere from Rs. 15,000 to Rs. 20,00,000.

The payment period is up to a maximum of 60 months.

It is better to avail a personal loan than to borrow cash on your credit card comparing the interest rate on both.

Disadvantages:

The eligibility criteria are stricter in case of personal loans, since there is no security required and the paper work is minimum.
The bank checks on you capability to repay more than any other loan due to the same reason.

Since the bank has a higher risk while providing personal loans, they follow a list of approved categories of borrowers.

Interest rates for personal loans could range from 12 percent to 30 percent, while the service charges and prepayment penalty are also very high

At Bombay loan, you can Apply, the personal loan offers extended by different banks/ financial institutions and choose the best for self. So what are you waiting for GO AHEAD.........Now!!!