Personal loan is expensive for everyone, but you can take advantage of it. These are such unsecured loans that can be easily availed. If your transaction in the bank is good, then you can get a call from the bank for a personal loan. However, if you opt for a personal loan, then you should also be prepared to pay an interest rate of between 9% and 20% per year. At the time of granting the loan, your credit history and whether you have the ability to repay the loan is known.

In a difficult situation, a personal loan can prove to be a good option even if it is expensive, if you do not have an emergency fund, or if for some reason the money is out, then you can apply for this loan. In view of the COVID-19 epidemic, many people are turning to personal loans in view of the uncertainty of income and the threat of job loss.

For your information, let us tell you that according to a recent survey report, the financial condition of about 82 per cent of Indians has been badly affected after the lockdown is implemented, most of which have taken personal loans to meet their cash requirement. Have expressed a desire to take. About 72 percent of the people said that they could apply for personal loans immediately or in the future to meet high priority expenses such as repayment of debt, necessary medical, education fees, and home repair and renovation.

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