Know Personal Loan Offers from 25+ Banks

Personal loan for the people drawing low income

Banks and financial institutions target primarily high paid salary people for a personal loan and credit cards at best interest rate with any other special offers.

What about the people who are drawing the low salary? How they can manage the funds for emergency situations like medical expenses, wedding functions among the other things. They can’ not borrow the money from the mainstream banks and it is nearly impossible for them.

They also can get a personal loan for drawing the low salary as low as Rs.50000. For these people, eligibility criteria vary from person to person based on Age, Credit score, type of company he is working, total work experience and number of years staying in the current residence.

 

HDFC Bank Personal Loan:
Minimum monthly income needed: Rs .15000
Age Limit: 21 to 60 years
Interest Rate: 15.75% to 20%
Loan amount limit: Rs 50000
ICICI Bank Personal Loan
Minimum monthly income needed: Rs .17, 500
Age Limit: 23 to 58 years
Interest Rate: 11.99% to 20%
Loan amount limit: Rs.50, 000 to Rs.15, 00,000
State Bank of India:
Minimum monthly income needed: Rs .10, 000
Age Limit: 21 to 58 years
Interest Rate: 13.35% to 20%
Loan amount limit: Rs.10, 00,000
Axis Bank Personal Loan
Minimum monthly income needed: Rs .15, 000
Age Limit: 21 to 60 years
Interest Rate: 15.50% to 24%
Loan amount limit: Rs.10, 00,000
Allahabad bank Personal Loan:
Monthly income required: Rs.20000
Age limit: 21 to 58 years
Interest rate: 13%
Loan amount limit: Rs.7, 50,000
Andhra bank Personal Loan:
Age limit: 21 to 55 years
Interest rate: 13.5%
Loan amount: Rs 200000 to Rs 10, 00,000
Bank of Baroda:
Age limit: 21 to 58 years
Interest rate: 14.50%
Loan amount limit: Rs 20 000 to 2, 00,000.
Standard Chartered Bank Personal Loan:
Monthly income required: Rs.22000
Interest rate: 12.99%
Loan amount limit: Rs 100000 to Rs 300000
Kotak Mahindra bank Personal Loan:
Monthly income required: Rs.40000
Age limit: 21 to 55 years
Interest rate: 13% to 18%
Loan amount limit: Rs 15, 00,000
Bank of Maharashtra:
Income required Rs.25000
Age limit; 21 to 61 years
Interest rate: 15.50% floating
Loan amount limit: Rs.1500000
Indusind Bank Personal Loan:
Income required Rs.25000
Age limit; 21 to 61 years
Interest rate: 12.99 % to 18.25 %
Loan amount limit: Rs.15, 00,000
Fullerton India Loan:
Income required: Rs.15, 000
Age limit; 21 to 58 years
Interest rate: 17.25 % to 35.00 %
Loan amount limit: Rs.15, 00,000
Canara Bank Personal loan
Income required: Rs 10,000
Age limit; 21 to 58 years
Interest rate: 14 % to 15.00 %
Loan amount limit: Rs.3, 00,000
Central bank Personal Loan
Income required: 40% of the gross salary
Age limit; 21 to 58 years
Interest rate: 14 % to 15 %
Loan amount limit: Rs.3, 00,000
Bank of India:
Income required: 40% of the gross salary
Age limit; 21 to 58 years
Interest rate: 12.95 % to 14.95 %
Loan amount limit: Rs.2, 00,000
Corporation bank Personal Loan:
Age limit; 21 to 58 years
Interest rate: 13.75% to 14.75 %
Loan amount limit: Rs.2, 00,000
HSBC Bank Personal Loan:
Income required: 4, 00,000 per annum
Age limit; 21 to 58 years
Interest rate: 12.00 % to 17.50 %
Loan amount limit: Rs.15, 00,000
IDBI Bank Personal Loan:
Income required: Rs .20000
Age limit; 22 to 60 years
Interest rate: 13 % to 14%
Loan amount limit: Rs.10, 00,000
Indian overseas bank Personal Loan:
Income required: 50% of the gross salary
Age limit; 21 to 58 years
Interest rate: 15.05%
Loan amount limit: Rs.15, 00,000
Citibank Personal Loan:
Income required: Rs.20000
Age limit; 21 to 58 years
Interest rate: 14.50 to 16.50%
Loan amount limit: Rs.30, 00,000
While choosing any type of loan, always go for a loan with lowest interest rate.
Documents required for personal loan:
Application forms with photograph
ID proof: Passport, Driving license, Voters ID, PAN card

Personal loan for the people drawing low income 5.00/5 (100.00%) 1 vote

About 

Priya Rai is a loan consultant.