OPEN APP
Home / Money / Personal Finance /  What a personal loan costs you
Listen to this article

Personal loans are a way to use tomorrow’s income today, and unlike other loan products such as to buy a house or pay for an education, the process involved is simple.

In fact, if you already have an account with a bank, you would have come across many offers for a personal loan. While these are easy to get, and offer almost instant gratification, you must note that the interest rates are much higher than, say, for a car loan. This is because personal loans are unsecured loans. This means that the loan is not backed by any asset; you don’t have to put up any asset like property or gold to be able to get the loan.

Mint 
View Full Image
Mint 
Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Close
×
Edit Profile
My ReadsRedeem a Gift CardLogout