What is a personal loan?


New Member
I get that people can get confused on this matter, yet you, as a single person who may have families that loan is taken by you or an Individual to fulfill his/her personal needs. Repayment can be done through fixed EMI over a fixed term. No guarantor or co-applicant is required.

To you what's is a personal loan? I said in basic above what it comes to terms what it means. Have you ever needed to take out a loan and did you able to pay back or not?


New Member
A personal loan can be one taken from friends, family members, or others personally know you (and not a institution in my mind) - unless you mean one that is taken out personally by you.

I think even if it's not an official loan (when taken from friends/family), it should still be repaid at a given number and within a respectable timeframe for the amount taken out. Can't tell you how many people I know that never repay money that was given to them as a loan or "borrowed".