Personal loan 

It is an unsecured loan taken by individuals from a bank or a non-banking financial company (NBFC) to meet their personal needs. It is provided on the basis of key criteria such as income level, repayment capacity, credit and employment history, etc.

A Personal loan is a type of unsecured loan and help you meet your current financial needs. You don’t usually need to pledge any security or collateral while availing a personal loan and your lender provides you with the flexibility to use the funds as per your need. It can serve as your solution for managing your travel costs and wedding expenses as well as the expenses of medical emergency, home renovation and others personal needs.     

The loan amount is typically sanctioned and disbursed in a just a couple of days. You can repay the Personal Loan in affordable EMIs, by selecting a tenure that suits you. Banks generally offer a minimum tenure of 1 year and a maximum tenure of 5 years for loan repayment.