In spite of different interest rates offered by various banks for personal loans the basic principal does not change. Personal Loans interest rates depends on various factors such as-
Employment Type- Interest rate is different for both salaried and non-salaried employed because in case of non-salaried customer it involves more investment risks as compared to salaried individuals.
Company Type- Companies are categorized in three different categories i.e. A, B and C based on some parameters like revenue, capital and market standards and so on.
Salary- Your salary will calculate the interest rate on your personal loan. Usually lower salary has higher interest rates to decrease the risk involved in personal loan.
Shumstar is India’s largest loan provider platform because it has global network with numerous banks to offer financial services to customer’s doorstep such as: Capital First, HDFC Bank Ltd, Deutsche Bank, Citibank, HSBC, Shriram City, Magma Finance, DHFL, Fullerton, ECL Finance, Tata Capital, Karvy Financial Services Pvt. Ltd, ING Vysa Bank Ltd, Investment Financial Services Pvt. Ltd, Religare, Punjab and National Bank, Reliance, Standard Chartered Bank, Magma Finance, Electronica Finance Ltd, Money line, Money Matters Finance Ltd, ICICI, IndiaBulls Financial Services Pvt. Ltd, Kotak Mahindra Ltd, EDELWEISS, Bajaj Finserv, Axis Bank, Indiainfolin, Indusland Bank and many more in this list.
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