Low Salary Personal Loans: A Long-Due Respite for India’s “Common Man”
Although enough has been said and written about the needs and wants of the “common man”, it seems the whole world is designed for the ones holding the strings. The case in financial services is not very different. In a country like India, where people go scot free even after defaulting on loans worth thousands of crores, getting a personal loan has been an ordeal for low-salaried individuals. But that is now changing; thanks to the companies offering low salary personal loans . What are low salary personal loans, you ask? Read on. What are Low-Salary Personal Loans? Low salary personal loans are similar to traditional personal loans, albeit with a few differences. To begin with, a low salaried employee can draw anywhere between ₹10,000 to ₹2 Lakhs . Besides, as the loan range is not too high, the repayment period is also usually shorter than traditional personal loans. Here’s another aspect worth noting: the interest rates charged by different low salary loan companies tend ...