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A personal loan is an unsecured loan and can be applied for when one has a sudden financial emergency to meet but does not have enough funds in hand. There are many benefits for a personal loan. Some of them are:

If you are an entrepreneur who is looking to start and establish your business in the market but do not have the funds to do so, then you can apply for a business loan. Business loans are specially made to help individuals or groups to establish, expand or improve their businesses.

If you are looking to buy a car, then a car loan and a jewel loan (gold loan) have their own set of benefits and can be applied for based on one’s needs and requirements.

A loan against property or a property loan is also known as a secured loan as one gives the bank/lender security in the form of a house, land or other property as collateral for the loan. The interest rates on such loans are generally low as the bank/lender can always sell the property to settle the loan if the customer fails to repay it.

A two-wheeler loan is provided by many banks to help you buy your dream bike or scooter when you do not have sufficient funds to pay for it in one shot. The interest rates are comparatively low and can be availed based on one’s credit profile, loan amount and other factors.

A two-wheeler loan is a loan given by a bank or an NBFC (Non-Banking Financial Company) to an individual to help them buy a bike or scooter when they do not have enough funds to buy the same. This can help the individual with transportation to get through the city traffic with ease.

A car loan is definitely a good option if you have other financial commitments and cannot afford to pay a lump of money for one particular spend in one month.

Yes, you can get a personal loan if you have a home loan as long as you meet the eligibility criteria for the same.

Property loans and gold loans are both known as secured loans. This is because the customer provides collateral either in the form of property in the case of property loans or gold in the case of gold loans as security against the money received as a loan. If the customer fails to repay the loan, the lender has the rights to sell the collateral to settle the loan.

Yes, it is possible to take multiple personal loans from banks as long as you meet their eligibility criteria. Also, the number of loans you have are dependent on your debt to income ration and your credit score. 

one can choose the best type of personal loan that will suit his/her needs and apply for the same to help face financial emergencies.

If you do not have a credit history or have very little credit history, it can be very hard to get a personal loan. Most banks or Non-Banking Financial Companies (NBFCs) look at a person’s credit history and credit score to issue a personal loan. This is because a personal loan is an unsecured loan, which means you do not need to provide any money, property or shares as collateral.

Personal loans are also called unsecured loans as you do not have to provide any collateral such as money, property or shares. Due to this reason, the interest rates are usually higher when compared to secured loans.

Most banks have a standard interest rate that they offer for personal loans. But, these can vary from customer to customer based on their credit score, credit history and their credit profile. Also, if you have a good relationship with your bank, then you can bargain on the interest rate and try to get a lower rate for your personal loan.

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