Home - Mortgage Loans | Personal Loans | Bad Debt Loans | Foreclosure Loans
Apply for a Loan | Best Auto Loans | Best Bad Credit Auto Loans | Best Bad Credit Loans | Best Bill Consolidation Loans | Best Cash Advance Loans | Best Credit Cards | Best Credit Repair Tips | Best Debt Consolidation Loans | Best Free Credit Reporting Tips | Best Home Equity Loans | Best Mortgage Loans | Best Pay Day Loans | Best Personal Loans | Best Products on the Internet | Best Unsecured Loans
Great Financial Advice
Apply for a Loan
Latest Financial News
Rate Lock Advisory
Best Products
Join Our Mailing List
Contact Us
Loan Articles Index
Auto Loans
Bad Credit Auto Loans
Bad Credit Loans
Bill Consolidation Loans
Cash Advance Loans
Credit Cards
Credit Repair Tips
Debt Consolidation Loans
Debt Reduction Loans
Foreclosure Loans
Free Credit Reporting Tips
High Risk Loans
Home Equity Loans
Home Loans
Lawsuit Loans
Mortgage Loans
Pay Day Loans
Personal Loans
Products on the Internet
Real Estate Services
UK loans
Unsecured Loans
Loan Article Index
Loan Articles A-G
Loan Articles H-Q
Loan Articles R-Z
Mortgage Calculators
Mortgage Calculator
Mortgage Amortization Calculator
Rent vs. Buy Calculator
How Much Can I Afford Calculator
Auto Payment Calculator
Click here to Sign up for Email and Newsletter

 

redhotloantips fat loss


Personal Loans: quench your personal desires

Written by: Nidhi Sachdeva

Personal loans are the most common form of credit taken by borrowers all across the world. The reason behind their popularity is that they give the borrower the liberty to use them in any way they desire.

So, you can use a personal loan to sponsor your child's education or buy your favourite car or do away with your debts or even throw a lavish wedding party. Basically, personal loans can offer a viable solution to all your financial needs. So, you assume they might be easy to avail also. Not quite! .

Personal loans are lent by all kinds of banks, lending institutions, building societies etc. But the process of determining whether you are an eligible borrower or not is a complicated one. The first step is to see whether you have applied for a secured personal loan or an unsecured personal loan. The major difference between the two is that a secured personal loan necessitates collateral while an unsecured one does not necessitate collateral. .

In case you have applied for a secured personal loan, your property is valued and the equity in your home is calculated. Equity, of course is the value of your home after deducting any outstanding debts from it. The equity in your home will decide the loan amount that you can borrow. On the other hand, in case of unsecured personal loans a thorough background check of your income and credit rating will be carried out. Generally, unsecured loans are more expensive than secured loans, yet a stable income and an exemplary credit rating can fetch you a low rate of interest even on an unsecured personal loan. .

You can usually borrow up to 15000 as a personal loan and the loan period varies anywhere between 6 months and 10 years. But as a general rule shorter is the loan period the better it is. This is because if your repayment period is long, you have to pay interests for a long period of time making the loan on the whole a lot more expensive. .

You can even pay off your loan earlier than the agreed period, but you may have to pay a penalty for doing so. While choosing a personal loan make sure you shop around and compare several offers before arriving at a particular decision.

About the author:

About the Author: The author is a business writer specializing in finance and credit products and has written authoritative articles on the finance industry. She has done her masters in Business Administration and is currently assisting Loans Park as a finance specialist.

FOR MORE INFORMATION PLEASE US AT: www.loans-park.co.uk


Other Related Articles:

Cash loan offers
There are different types of consumer loans you can apply for. While some consumer loans will give you a cash loan, such as a payday advance loan, other loans will not put cash in your hands but allow you to finance your home or pay your college...read more

Getting A Handle On Your Bills With A Debt Consolidation Loan
If you find yourself overwhelmed in debt, or are considering applying for a mortgage but your debt to income ratio is too high, it may be time to consider a debt consolidation loan. Qualified mortgage companies, such...read more

How To Stretch Your Student Loan
If you're considering going to university, there is a strong chance that you're also contemplating taking out a student loan to fund your university expenses. Student loans don't have to equate to student debt and if you plan your finances, it is...read more


Return to Home

468x60

Best Auto Loans, Best Bad Credit Auto Loans, Best Bad Credit Loans, Best Bill Consolidation Loans, Best Cash Advance Loans, Best Credit Cards, Best Credit Repair Tips, Best Debt Consolidation Loans, Best Debt Reduction Loans, Best Foreclosure Loans, Best Free Credit Reporting Tips, Best High Risk Loans, Best Home Equity Loans, Best Home Loans, Best Lawsuit Loans, Best Mortgage Loans, Best Pay Day Loans, Best Personal Loans, Best Products on the Internet, Best Real Estate Services, Best UK loans, Best Unsecured Loans
Subscribe to Mailing List | Private Policy | Unsubscribe | Site Map