Personal Loan
Personal loan is mostly used by people to finance their day to day emergencies like loan for your personal use, for your child wedding, dream vacation or shopping.
A personal loan does not require any security or collateral.
With this, you have the option to repay your borrowed amount gradually in the upcoming years, no guarantor or security is required, hassle free documentation process, our executives will come to you to collect necessary documents and if all requirements are met, money can be expected within few days.
A Personal Loan is a form of financial assistance provided by different banks and NBFCs. It can be used for personal needs such as medical emergencies, higher education, marriage expenses, holiday plans, and many more.
There is no constraint on how the borrowed amount is actually used, unlike certain other types of loans; the borrower has complete freedom to use the money for whatever reason they choose.
'A personal loan has two essential properties:
Total flexibility on end-use. There are no restrictions on how you can spend the loan amount. This is in contrast to a home loan or car loan where the amount of the loan can only be used to purchase a property or a vehicle only. You're free to use the money in any way that you want.
Non-requirement of collateral. Personal loans are unsecured loans, meaning you are not required to provide the lender with any collateral in the form of assets, shares or any other properties.