PERSONAL LOANS

A personal loan is a type of unsecured loan that individuals can borrow from banks, credit unions, or other financial institutions to meet various personal needs. Unlike a home or car loan, a personal loan does not require collateral and can be used for purposes such as medical emergencies, weddings, education, travel, or debt consolidation. The approval of a personal loan typically depends on the applicant’s credit score, income, and repayment capacity.