A personal loan defines a fixed amount of funds you borrow from a lender. This loan comes with a fixed rate, and you can repay it over a fixed period. You can get a personal loan that is either unsecured or secured. Here are some differences between the two.
Types of Personal Loan
Unsecured Personal Loans
An unsecured personal loan means you do not need collateral as eligibility criteria. However, due to this very reason, lenders heavily weigh other eligibility factors such as your income credit score, outstanding debts.
Having a bad credit score can make it outright expensive or difficult for you to […] Read more