What Is Meant By Personal Loan

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Posted on September 17, 2018 at 17:01 PM

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Introduction to consumer lending

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What is Personal Loan? definition and meaning
Definition of personal loan: An amount given to an individual to use for personal benefit that must be paid off at a specified time.
What is a personal loan? - Quora
Personal loan is a type of loan used by the people for meeting the needs of the family members and also for their own needs. Example: To pay personal expenses, go on a vacation, purchase any asset etc.
Things to Know About Personal Loans - The Balance
Personal loans are unsecured. That means the loan doesn't require you to use an asset as collateral. If you default on a personal loan, the lender can't automatically take a piece of your property as payment for the loan.

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