When is a personal loan?


by tavares , in category: Personal Finance , 10 months ago

When is a personal loan?

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1 answer

by garret_hahn , 10 months ago


A personal loan is a type of loan that individuals can borrow from a financial institution, such as a bank or credit union. It is typically used for personal expenses, such as debt consolidation, home improvements, medical bills, or other personal financial needs. The loan is repaid in fixed monthly installments over a predetermined period of time, usually with interest.