Personal loans come to the urgent rescue of the cash-strapped and help fulfill critical financial goals. These open-ended, unsecured financing facilities could be slightly pricier than the best secured loan offers, but they are still ideal for those who don’t possess or don’t want to pledge the necessary collateral to get a loan against securities such as gold, property, mutual fund investments, fixed deposits, endowment plans, car, etc.
In addition, personal loans are also the preferred financing tool for those whose loan requirement is bigger than the value of their security. If you have a stable income and a good credit score, you can get a personal loan at a rate just slightly higher than, say, a gold loan. In fact, according to the latest research by BankBazaar.com as per data available on September