Finding Personal Loan that Fit Your Budget - PowerPoint PPT Presentation
Title:
Finding Personal Loan that Fit Your Budget
Description:
A personal loan is a type of loan that you can use for any personal expense, such as home renovations, wedding expenses, or debt consolidation. Unlike a secured loan, like a car loan or a mortgage, a personal loan doesn't require collateral. Instead, the lender looks at your credit score, income, and other factors to determine your eligibility and interest rate. Read More: Personal loans can be either unsecured or secured. Unsecured loans are not backed by any collateral, so they often come with higher interest rates. Secured loans, on the other hand, require collateral such as a car or a house, which can lower the interest rate. – PowerPoint PPT presentation
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Title: Finding Personal Loan that Fit Your Budget
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PERSONALLOANINTEREST RATES
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Introduction
Personal loan interest rates vary depending on
the lender, borrower's credit score, and the loan
amount.
Generally, personal loans have higher interest
rates compared to secured loans due to the
absence of collateral. A borrower with a good
credit score is more likely to get a lower
interest rate. It's important to shop around and
compare rates before applying for a personal
loan.
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5 Benefits
Flexibility Lower rates than credit cards
Predictable payments No collateral required
Improve credit score
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Process of
Appling for
- persoanl loan
- Filling up loan application form Submitting form
adn documents Sanctioning of loan - Executing the agreement
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THANKYOU
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