All you need to know about Personal Loans!
Personal loans are popular because of their easy availability. Now a days, taking a personal loan is just a click away. Be it a vacation, child education, medical emergency, home refurbishing or any other necessity, it comes handy during times of need. In simple words, it’s an unsecured loan taken by a person from a bank or non-banking financial company to meet his/her personal needs. Basically, it is provided on the basis of key criteria, such as repayment capacity, income level, credit and employment history. Unlike a car or a home loan, a personal loan is not secured against any asset. Besides, personal loans can be used for any personal financial need; it can be utilized for marriage related expenses, child’s education, renovating your home, meeting unexpected medical expenses, purchasing latest electronic gadgets or any other emergencies. Personal loans are also useful when it comes to down payment of new house, fixing your car and investing in business etc. Here is a low down o