What is a personal loan?

A personal loan is an all-purpose loan, which is given in most cases without any kind of security. Most of the banks offer personal loans. As well as banks, the are other specialist finance companies and financial institutions that offer them.

The repayment period varies with lenders usually looking for repayment within a maximum of 60 months, however most lenders restrict the lending to a maximum period of 36 months. In all, a personal loan it is for lower value, shorter duration loans than a secured Loan.

For more information please visit our personal loan section.