What is a personal loan?

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Personal Loans
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What is a personal loan?

• A personal loan is an unsecured credit given by
  banks and other financial institutions based on
  the criteria like your monthly income, credit
  history, professional details, credit score,
  repayment capacity, and so on.
• The personal loans are collateral, meaning they
  don't require you to pledge any collateral. The
  personal loan interest rates are higher than that
  of secured loans.

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What can a personal loan be used for?

• Personal Loan can be used to cater to
  requirements of meeting personal expenses.
• A personal loan can be availed for any personal
  purposes such as home renovation, wedding,
  medical emergencies, travelling, debt payments,
  bill payments and more.

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How to apply for personal loan?

• Do some research before you apply for a personal
  loan to shop around for the best rates.
• Check your personal loan eligibility online.
• Banks offer simplified personal loan application
  process. You can make a personal loan online
  application in just a few clicks.