Personal Loans - Help me

Friends,
I thought of getting a personal loan but don't know any info abt this. means, I want to know what to do to get minimal % of interest. I heard people saying we'll get less % of interest if we go my known people. I don't know anyone in banks. And what are all the things I should keep in mind before going through. I need it within a month. So, not possible to go to government banks. Please suggest me which bank is goog for personal service. Till how much I can go for the interest? How long will it take and more info. please let me know.
It would be a great help!

Thanks,
Uma

uma,

Personal loans are now available from all banks. the interest rates are higher. do call up the banks and find out. getting personal loans out of private sector banks is easier then public. as long as you are able to pay the interest rate demanded.

For applying for a personal loan you should

either be salaried or self employed but should be a resident Indian.

If you are professional, and self employed also you get a loan. (Practicing doctors, CA)

The minimum age of the Applicant should be 21 years and maximum being 58 for salaried and 65 for self employed.

The minimum years in continuous employment / business should be 1 year for salaried individuals and 2 years for self-employed individuals.

The minimum net annual income should be Rs.75,000 p.a.
The minimum stay at current residence should be 1 year

along with satisfying all these criteria, you have provide proof of identity, proof of residence, financial statements.

Regarding the interest rates, it differs according to the bank and its discretion.


Andhra bank charges 16.5%
Axis - 15 to 23% depending on the category you fall.
Bank of india - 13.5 to 14.25 (I think they offer the lowest)
citibank - 15 to 24 (i think getting a loan from them is the easiest)
icicibank - 12 to 24 (12 may be to their staff??)
you could ask the banks.

hope this helps.