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General Category => General Discussion => Topic started by: aydanvern on May 03, 2013, 04:34:13 am
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Personal loan interest rate is higher as compared to other borrowings
Eligibility criteria for borrowers are difficult because of non-requirement of collateral security and minimum documentations involved.
The repayment capacity is taken into consideration strictly to figure out if you can continue with repayment in future.
Banks or lending institutions follow a set of approved categories for borrowers because of the risk involved in lending the loan.