• Simply put, 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, credit and employment history, repayment capacity, etc.

• Unlike a home or a car loan, a personal loan is not secured against any asset. As it is unsecured and the borrower does not put up collateral like gold or property to avail it, the lender, in case of a default, cannot auction. Simply put, 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, credit and employment history, repayment capacity, etc. Unlike a home or a car loan, a personal loan is not secured against any asset.

• As it is unsecured and the borrower does not put up collateral like gold or property to avail it, the lender, in case of a default, cannot auction. Simply put, 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, credit and employment history, repayment capacity, etc. Unlike a home or a car loan, a personal loan is not secured against any asset. As it is unsecured and the borrower does not put up collateral like gold or property to avail it, the lender, in case of a default, cannot auction,

• Simply put, 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, credit and employment history, repayment capacity, etc. Unlike a home or a car loan, a personal loan is not secured against any asset.

• As it is unsecured and the borrower does not put up collateral like gold or property to avail it, the lender, in case of a default, cannot auction