Daughter's marriage or her studies? Son's Ambition? Want a House makeover? Stop worrying about 'money' to fulfill your cherished dreams now? Avail the opportunity of 'Personal Loans'.
Personal Loan is perhaps a man's best friend in today's world. 'Personal loan' as the name suggests can be for any personal reason. Such reasons vary from person to person for instance a husband willing to give a brand new car to his wife on their silver marriage anniversary, a father thinking of investing and setting up his son's business etc. thus personal loan can provide you instantly with the required investment without any body's help.
If you wish to take a personal loan, all you need to do is to be a little observant, calm and prudently decide which bank or company to go for. Government as well as private banks and companies offer the facilities of personal loans. The bank or company that has less rate of interest usually tops the list. But rate of interest is not the only parameter one adopts. Many a people also confide in the banks that require less documentation and spontaneous service. So it is entirely at one's volition to fix on which bank/company to go for. The channels may also differ in this regard like there are those who directly contact the bank/company for this service or the ones who leave it upon their agents to do all the work for them.
Broadly there are three types of personal loans:
· Secured
· Unsecured
· Line of Credit
The secured ones are those, which banks or companies keep some kind of security with them ? like your house, car and the like. If one is unable to repay the loan, the security so kept is taken up or confiscated by the bank giving the loan. Such loans can provide you with a handsome amount of money and a lower rate of interest.
Unsecured loans accordingly do not require any security token. They are fast as compared to the secured ones. But they do provide with you with a comparatively lesser amount of money and that too at a high rate of interest.
Line of credit refers to setting up of a limit to one's credit. The companies or banks make credit cards, which have a certain credit limit. The rate of interest will be charged only on the amount you withdraw from the credit limit. You cannot go beyond your limit to withdraw the cash.
So the rate of interest varies with the kind of loan you take. If you need a loan without much delay, unsecured loans can be the best choice provided you can cope up with the rate of interest so charged. If you want to make use of your loan amount gradually at discretion, setting up of a credit limit can be favorable idea. However, the methodology should be to know the rate of interest and the tenure you think you will be able to repay the loan amount. Then calculate the EMI or the monthly installments that you will be categorically paying to the bank or company from which you will take the loan. The company, which will be giving loan to you will beforehand inform you of how many monthly installments or check bounces they can accept. Just make it sure that you do not exceed this number for there can be serious legal repercussions. Thus it is advisable not to mess up (cheat) with the bank or the company you take the loan from.
Remember, if you are careful and loyal, personal loan can be the best and a real friend in need.
Mansi gupta writes about personal loan topics.
A UK Bad Credit Personal Loan is a loan designed... Read More
Whether your payday arrives every Friday or every other Friday,... Read More
Wedding loans because wedding may be made in heaven but... Read More
Emergency - the word is written everywhere in red and... Read More
If you find yourself in a situation where you need... Read More
A title loan is a loan of money secured by... Read More
Have you ever been short on cash? Has an unforeseen... Read More
Martin graduated of the college with dreams of a highflying... Read More
A bad credit history is like having contracted an infectious... Read More
Here is a useful guide to secured personal loans. A... Read More
If you're looking for a fast homeowner loan, you might... Read More
Listed below are some of the many reasons why you... Read More
With less than a week before she was to receive... Read More
The ads are on the radio, television, the Internet, even... Read More
Payday loans have many names -- cash advances, signature loans... Read More
Here is a useful guide to Home Improvement Loans. What... Read More
Living in the United Kingdom, you might find yourself in... Read More
Obtaining bad credit loans can be a real challenge. If... Read More
Are you thinking of going in for a payday loan... Read More
Agriculture loan guaranteesFor better understanding of the agricultural loan guarantee... Read More
Bad credit secured loans are a relatively recent addition to... Read More
Outlined here are some of the many benefits of a... Read More
There can be more to a bank business loan than... Read More
What will it take for you to get a low... Read More
Are you a pensioner applying for a loan? Here are... Read More
Here is a useful guide to Personal loans. What is... Read More
As the term implies, Personal loans are simply loans for... Read More
Here are some useful Debt Consolidation tips. Debt consolidation is... Read More
Refinancing your car loan is an ideal way to lower... Read More
Looking for low interest debt consolidation loans can sometimes seem... Read More
The bad news about attending college is that it costs... Read More
Are their rewards of being your own boss? Yes, in... Read More
You were on your regular walk with your wife, and... Read More
If you've been tossing around an idea for a small... Read More
With less than a week before she was to receive... Read More
Your car loan is now less than an hour away... Read More
Bad credit secured loans are a relatively recent addition to... Read More
Need extra cash till payday? It's easy to apply and... Read More
A secured loan is any loan that is secured on... Read More
If you are looking at getting a payday loan or... Read More
Have you ever felt like you bought an auto and... Read More
If you are a traveller by heart then perhaps every... Read More
Should you be in the market for a homeowner loan,... Read More
Like most people, you will probably wait until submitting a... Read More
Regardless of your trading style; day trading, swing trading, or... Read More
A bridging loan has many benefits, some of which are... Read More
Listed below are some of the benefits of an unsecured... Read More
Cash advances have become quicker to process with online payday... Read More
Here is a useful guide to getting a bad credit... Read More
Bankruptcy has a stigma attached to it that is hard... Read More
Why do kids get all the breaks? Winter-weary adults, fed... Read More
Free Auto Loan TipsThe following tips should help increase your... Read More
So, you want to get a loan?Here are some simple... Read More
Credit relationships in a social system form an intricate web... Read More
The most important and difficult part in farm mortgage shopping... Read More
Payday loan qualifications are different from other types of short-term... Read More
Outlined below are some of the reasons for choosing a... Read More
Why choose an unsecured loan? An unsecured loan can be... Read More
Predatory lenders promise loans that are "too good to be... Read More
In this second installment, we will further examine what kinds... Read More
Getting a good auto loan rate is not luck, but... Read More
While most companies seeking venture capital initially think about angel... Read More
Payment protection plans are offered by payday companies to protect... Read More
A Commercial Lender is Not a Commercial Lender When it... Read More
Are you wondering what is credit insurance? Very simply, credit... Read More
Outlined below is a guide to unsecured loans. It will... Read More
Loan |