Will banks provide me Personal Loan if unemployed

Firstly, we are sorry to hear about your troubles and we hope that you are able to recover from this distressful situation very quickly. As regards your EMI payments, you do have a few options.

1. You can meet with the loan officer, explain your financial situation and request for a grace period during which you will not be required to make EMI payments. The bank may charge some penalty for the grace period, which you can pay once you resume servicing your EMIs. You should carry with you statements of your EMI payments to demonstrate to the loan officer that you have a good track record.

2. You can ask the bank to restructure your home loan, by increasing the tenure and reducing the EMIs. If you have a paid a substantial part of your principal already, you can get the bank to reduce your EMIs considerably and extend the tenure of the loan. This will reduce the financial pressure on you considerably.

3. If your home loan interest rate is very high, you can explore refinancing options. You may find banks who will be ready to refinance your home loan at a lower interest rate. This again will reduce your EMI payments.

4. If none of the options above work out for you, do not despair. Some banks have credit counselling centres, where there are experts who can provide you advise on how to resolve debt issues.