As
the word says personal loan is the loan taken for personal purposes.
It may vary from 1 lakh to 20 lakh, according to need and can be
taken for 1 to 5 years. We can say it's a short period loan to meet
our general expense. A personal loan has many purposes like
children’s marriage, gifts, medical need, educational purpose, farm
need etc. It is insecure by nature and given on the basis of the
security hold by the borrower. It carry risk because there is chance
that buyer will not be able to make repayment. A personal loan
require lengthy procedure as we have to do documentation and a
person from institution may come to check our security, also the
interest rate is high in this loan. There are various banks and
financial institution who provide personal loan at reasonable
interest rate. If you want information about personal loan interest rate in India just visit our website easyloansindia.com. Here you
will find the information about all about loan. you can easily search
for, compare, evaluate, and apply for a loan through this site.
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