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It may be necessary to put up collateral of similar value to the loan.
Then if the loan in not repaid the lender can seize and auction the collateral to try to recover the loss.
This is why car loans and home mortgages are relatively easy to get, the car or home purchased with the loan is the collateral for the loan. But an ordinary personal loan does not automatically have collateral like those loans do, so it is harder to get if your credit is very bad.
What else can I help you with?
What is the punishment for defaulters of credit cards and personal loan in India?
It will go on your credit score. This can make it difficult to get loans later on or to even get a house.
How many months jail for loan defaulters in uae?
24 I'm sure :-) :-) :-)
What is the action against the UAE bank loan defaulters in UAE and India who has already left Dubai?
Nothing.you can not return back to uae
What is a Post Office personal loan?
A Post Office personal loan is a competitive personal loan with various amounts. One can ask for a Post Office personal loan for different periods of time.
Pay a personal loan off with a credit card?
All you can know about personal loan from this site. http://personal-loan-info.freehostia.com/ It will help you a lot as it helped me.
How do you find the payoff balance on a personal loan?
How do you find the payoff balance on a personal loan?
In general would interest rates for a personal loan be lower or high than those for a business loan?
In general the interest rates for a personal loan would be higher than for a business loan. The risk of losing money with business loan is not as high as with personal loan.
Which loan is better Personal or Home loan?
The better loan depends on your purpose, repayment capacity, and how much money you need. Both loans work very differently. 🏠 Home Loan – Best for Buying Property A home loan is better when you are purchasing or constructing a house. Why home loans are better: ✔ Lower interest rates (usually 7%–10%) ✔ Longer tenure (up to 30 years → smaller EMIs) ✔ Tax benefits on interest + principal ✔ Higher loan amount (based on property value) When to choose a home loan: Buying a flat/house Constructing or renovating a property 💳 Personal Loan – Best for Short-Term Needs A personal loan is better when the requirement is immediate and small. Why personal loans are flexible: ✔ No collateral required ✔ Quick approval ✔ Can be used for any purpose (medical, travel, education, emergencies) Downside: ❌ Higher interest rates (11%–24%) ❌ Shorter tenure (1–5 years) ❌ Higher monthly EMI ⭐ Which one is “better”? For any home-related purpose → Home Loan is better because it’s cheaper and has tax benefits. For short-term or emergency expenses → Personal Loan is better because it’s fast and unsecured. Choose a home loan if it’s for property; choose a personal loan if you need quick money for general expenses. For more comparisons and EMI tools, you can check our website: thelowinterest
Who do you contact when scammed on loan?
Personal loan for foreclosure
Which bank provid Personal Loan in Pune - Interest Rate Starts at 10.75?
iServefinancial provide you personal loan in pune. And also provide online personal loan in pune
Are four wheelers under auto loan or personal loan?
Auto Loan
Can you get a personal loan attached to a new home loan?
If you have equity, you can get an equity loan
