BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Depends upon the income of the borrower
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Maximum amount is such that EMI is not more than 40-50% of the monthly income.
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Unlimited
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Both A and B
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Detailed explanation-1: -The amount you are eligible to borrow is at the lender’s discretion. However, most banks and NBFCs limit a personal loan at Rs. 35 lakh to an individual. Lenders evaluate the monthly income of loan applicants and the potential growth in it before approving a loan.
Detailed explanation-2: -Axis Bank offers Personal Loans ranging from Rs 50, 000 to Rs 40 Lakhs, with minimal documentation and quick processing.
Detailed explanation-3: -Personal loan amounts range from Rs. 50, 000 up to Rs. 50 lakhs. The loan amount is determined based on factors like your age, income, credit score and job type.
Detailed explanation-4: -The minimum amount you can borrow through a small amount personal loan varies from lender to lender, but on an average, it is around Rs. 10, 000. The maximum amount you can obtain through a small amount personal loan is around Rs. 2 lakh.