Personal Loan

A **personal loan** is an unsecured loan provided by banks or financial institutions that you can use for various personal expenses—such as medical emergencies, home renovations, education, travel, or debt consolidation. It doesn’t require collateral, and repayment is usually done in fixed monthly installments (EMIs) over a set period, typically 1 to 5 years. Approval is based on factors like income, credit score, and repayment history.