80-Personal Loans

12345

What is the full form of EMI?

Equal Monthly Installment

Equated Monthly Installment

Equal Monthly Income

Equated Monthly Incentive

Personal Loans are also called as by which of the following names?

Signature Loans

Unsecured Loans

Consumer Loans

All of the Above

What is the maximum loan duration for the Personal Loan?

1-5 years

2-4 years

1-8 years

1-10 years

What is the maximum loan amount permitted under the Personal Loan in India?

Depends upon the income of the borrower

Maximum amount is such that EMI is not more than 40-50% of the monthly income.

Unlimited

Both a and b

What is the status of Interest rate on Personal Loans as compared to the Home and Car Loans?

Higher than Home and Car Loans

Lower than Home and Car Loans

Equal to Home and Car Loans

Can not be compared

Current Affairs