What is a personal loan? A comprehensive guide for first-time borrowers
1 month ago

What is a personal loan? A comprehensive guide for first-time borrowers

Live Mint  

Personal loan loans are flexible financial options that can be availed in pursuit of different goals of life such as paying an emergency medical bill, funding home improvements or realising that special dream vacation. Important factors to consider before taking personal loans 1.Loan terms and conditions: Before taking a personal loan, always read the fine print. 2. Credit score: It is yet another important requirement that determines whether you will be eligible to receive the personal loan. Though most personal loans have pre-specified EMIs, you must know the repayment schedule, early repayment options, and consequences of a missed payment or defaulting on the loan.

History of this topic

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