Personal Loan interest Rates
What Is the Rate of Interest For A Personal Loan From Our money ?
Our money offer personal loans at interest rates starting 13%. Additional charges such as processing fees, EMI bounce charges, penal interest and secure fees (only for online) may also be charged at the time of application.
2.How Is Interest Calculated? •
Any Personal Loan you take is to be repaid with interest. The loan amount is called principal and the added amount is called interest. Since a Personal Loan is an unsecured loan, which means that it does not require any security or asset as collateral, its interest rates are slightly higher. • You will repay the loan amount in EMIS or Equated Monthly Installments across the duration of your tenure, ranging from 12 to 60 months. • This installment consists of both the principal and interest components.
3.Does Our money check the CIBIL score of loan applicants?
Yes, Our money checks the CIBIL score of All types of loan applicants. The minimum CIBIL score for personal loan in Our Money is 850. A credit score of 850 and above is considered ideal for obtaining a loan. However, in some cases where all other criteria are met, one may obtain a personal loan with a slightly lower CIBIL score depending on internal policies.
Factors That Influence a Personal Loan Interest Rate:
• Your credit history Your monthly salary or fixed income
• The amount being borrowed
What leads to a lower rate of interest?
.Having a good credit history and score
.Paying all your bills and dues on time
Calculate your Our money Personal Loan interest amount
• To know the exact amount, you would be paying each month as EMI; you can calculate the personal loan EMI amount.
4.Student loan interest rate. 9%
Business starting at 9 to 15%