The first and most important benefit of a personal loan is that it can be used for any purpose, unlike a home loan. There are no limitations on the end use of the personal loan. If you have any urgent requirement for funds; a personal loan can be one of the easiest ways to get cash. If you meet the eligibility criteria and have a good credit score, you can get a personal loan in 72 hours' time. In fact, some banks provide the facility of online approval of personal loans for existing customers. You don’t have to arrange for any collateral. It is an unsecured loan. Therefore, it is easy to get it. A personal loan is generally available at a fixed rate of interest. So the equated monthly instalments will remain fixed for the entire loan tenure. Therefore you don’t have to worry about interest rate changes.
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