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Four ways to use personal loans

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You can use your loan any way you like as there is no stipulation as to how you use the loan amount. Here are a few things and situations in which personal loans can come in handy. – PowerPoint PPT presentation

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Title: Four ways to use personal loans


1
Four ways to use personal loans
2
Introduction
  • No matter how much we earn, theres always want
    of more.
  • We cant always use up our savings for everything
    we want and hence the need for personal loans.
  • Personal loans can easily solve all your
    financial needs. They are easy to acquire and
    have a short tenure so you can pay up loans
    quickly as well.
  • An additional benefit of getting a personal loan
    is that it can help you increase your credit
    score as well.

3
  • One thing about personal loans that keeps people
    from getting them is the high interest rates.
  • Personal loan interest rates are high because
    these are unsecured loans, that is, a borrower
    does not need to keep anything as collateral or
    guarantee to get these loans.
  • This is both a good things and a bad one because
    this results in high interest rates.

4
  • There are many types of personal loans in the
    market today.
  • You can use your loan any way you like as there
    is no stipulation as to how you use the loan
    amount.
  • Here are a few things and situations in which
    personal loans can come in handy.

5
Travel Plans
  • Taking holiday loans or vacation loans is not out
    of the ordinary today.
  • Nobody wants to go to Manali or Nainital for
    holidays anymore.
  • We want to explore the mountains of Switzerland,
    take a road trip through Spain or lounge in Greek
    villas in Santorini.
  • These holidays do not come cheap. A personal loan
    for travel can help you take your dream vacation
    without emptying bank accounts.

6
Education
  • Education loans can help you pay for your tuition
    and sometimes for your on campus accommodation.
  • But those arent the only expenses that you have
    to deal with when you go abroad, you need to
    spend money of accommodation, daily necessities
    like food, medication, commute and so on.
  • All this can add up to quite an expense and this
    is where a personal loan can come in handy.

7
Medical Needs
  • Health insurance does not cover voluntary
    procedures like dental surgery, cosmetic surgery
    or voluntary preventive surgeries like
    hysterectomy, mastectomy.
  • These procedures can be very expensive and a
    medical loan in the form of personal loan can
    help you pay for them.

8
Weddings
  • Weddings in India are expensive.
  • We want our weddings to be the best, most
    extravagant day of our lives.
  • From the most exclusive outfits, to exotic
    locations, grand décor and a unique variety of
    food.
  • People end up spending their lives savings to
    fund weddings.
  • Wedding loans in the form of personal loans is
    the best way to splurge on your wedding without
    worrying about depleting savings.

9
Thank you
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