Personal loan is a short to medium term unsecured loan granted to an individual. It is commonly used to meet such financial needs as wedding expenses, unexpected medical costs, home renovation and others.
Flexibility of usage, minimal documentation and quick processing make personal loan a preferred financing option. Unlike other loans, it usually has a shorter repayment tenure ranging from 1-5 years. Depending upon the individual applicant's profile and lender
Personal loan is free from any restriction related to the way, in which you should spend your loan amount. Instead, the applicant has the freedom to use his/her money in almost every way based on the requirements.
Personal is an unsecured type of loan, because of which it does not mandate you to provide any security to your lender as shares, cash or any other valuable assets.
Amount of personal loan may be anything from only a few thousands to up to lakhs. However, the applied amount must commensurate with the ability of an applicant for making repayments.
Personal Loan For Wedding - Exhausting all of your saving amount or emptying your pocket to meet the entire wedding expense can never be an ideal solution. To avoid this, you must apply for personal loan online to cover your expenses.
Personal Loan To Renovate Home - Whether you want to renovate your kitchen or any other area of your home, a personal loan to renovate home is the best solution.
Personal Loan For Travel - One can apply for personal loan to bear his/her travel expenses. Here, the loan amount may alternate one’s uses with the credit card to save on costs involved in the interest.
Personal Loan For Fresh Funds - Fulfillment of working capital requirements is a challenging task. On the other side, failure to raise fresh funds will affect daily operations. Here, personal loan will be the excellent alternative to fulfill the working capital requirements for short-term. These include wages, payables and cover accounts.
Top Up Personal Loan - Top Up Personal Loan offered by financial institutions allow applicants to borrow a specific amount on the personal loan. This type of loan has a relatively high rate of interest.
Personal Loan For Balance Transfer -With balance transfer, you may pay off your existing loan by the help of a new loan and that too at a low interest rate.
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