Have you checked out the things that can grant all of your wishes? Dreams have no limitations since the reach of the imagination is limitless. You could daydream about going to exotic spots throughout the world, driving an amazing car, or enrolling at prestigious universities. All of this is possible with a SBM personal loan. Despite the fact that you have to repay it, the low-interest rates do not put a strain on your savings. All the time, we may not need money for just enjoyment or pleasure, but sometimes, some unforeseen circumstances make us very anxious to manage money.
In this situation, only personal loans offer us a helping hand with an instant financial solution.
On the other hand, A personal loan has the potential to help you meet unexpected cash needs. Personal loans are often unsecured in the sense that no security or guarantees are required. Personal loans are typically issued at a higher interest rate simply because of their unsecured nature.
Muthoot Personal Loans are available to those who meet the criteria at competitive interest rates and flexible payback terms. This loan sum can be used for many purposes, including marriage, home improvement, higher education, holiday plans, and unexpected medical bills. Depending on your eligibility for a loan, Muthoot Finance provides both unsecured and secured personal loans.
But when you are in a situation where you have to choose the most suitable option for your specific need, you should compare the best-preferred options you have picked out among a vast number of choices.
For your quick decision-making assistance, we are going to compare SBM and Muthoot Finance personal loan features below.
Check the Table below and go with the best option for you
|
Minimum Salary |
20000/-Per Month |
20000/- Per Month CAT A,C&D 25000/- Per Month Other |
|
Rate of Interest |
14% to 20%(Reducing) |
14% to 22% (Reducing) |
|
Loan Amount |
Rs 50k to 25 lac |
Rs. 1 Lac to 7.5 Lac |
|
Processing Charge |
1% to 4% |
1% to 3% |
|
Loan Tenure |
6 Month to 60 Month |
12 Month to 60 Month |
|
CIBIL Score |
700+ |
685+ |
|
Location |
DELHI-NCR(CP TO 60KM RANGE) |
PAN India |
|
Applicant Age |
25 Year to 65 Year |
23 Year to 60 Year |
|
Minimum Job Experience |
3 Months |
6 Months |
|
Current Employer Business Vintage |
1 year |
3 Years |
So, I think you have got an overview of the features offered by the Muthoot Finance and SBM Bank Personal Loan.
Conclusion
In conclusion, I will say that no one will know better than you about the situation or the case of emergency you are going through. So you can only decide which option will be the best solution for your real-life scenario. Here, we have just presented the features these loans come with to ease your selection process. Otherwise, there are plenty of alternatives you can choose from. But to get an emergency financial helping hand, you can confidentially select one of these options.
There are no restrictions on how the personal loan cash may be utilized. It can be used for many different kinds of purposes. You may use it to pay for trips, marriage expenditures, hospital bills or care, the purchase of new technical items, house expansion, and a variety of other things.
Muthoot Personal Loan guarantees that your loan application will be handled and granted within 24-48 hours of receiving all necessary papers.
Muthoot presently refuses to accept partial payments on your loan accounts.
The EMIs on a monthly basis will be deducted directly from the bank account you use. You must provide a NACH mandate for this at the point of loan disbursement.
Muthoot Finance’s personal loan interest rates can differ between distinct plans and customer groups.
You should have a discussion with a representative of SBM BANK to be confident in this matter.
SBM Bank can be reached at 1800 103 3817.
Absolutely. You can submit an application for an SBM personal loan from anywhere in India because they offer PAN-India accessibility.
No, they demand at least Rs. 20,000 monthly income to grant a loan.
The payback period of an SBM personal loan can last up to 30 years, depending on the borrower’s profile.