A personal loan is a flexible, unsecured loan that lets you borrow a specific amount of money from a lender. You repay it in fixed installments over time, usually with a consistent interest rate. Since no collateral is needed, it’s a convenient option for covering personal expenses like debt consolidation, big purchases, or unexpected emergencies.

Personal Loan – Get personal loans of up to Rs.40 lakh & above at attractive rates starting at 10.49% p.a. with flexible tenures of up to 6 years.

Personal Loan Details

A Personal loan is a type of unsecured loan that you can borrow from a bank or financial institution if you require funds to pay for your financial needs.

Types of Personal Loan

There are two types of personal loan schemes. They are:

• Unsecured Personal Loan: Under these types of loan schemes, you don’t need to provide any security or collateral to the bank. If you meet all the eligibility criteria and have a decent credit score, then you can avail yourself of an unsecured personal loan.
• Secured Personal Loan: Under these types of personal loan schemes, you will need to provide some form of security or collateral to the bank. A business loan or a gold loan is an example of a secured loan as you may have to provide some form of property to apply for a business loan and gold if you wish to avail a gold loan.

• Courtesy To: Bankbazaar

About Post Author

Lynn Jackson

aware@srvibes.com

http://www.srvibes.com

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