Volume : 2, Issue : 5, May - 2013

A Study on Personal Loan in India

Dr. A. Vinayagamoorthy, M. Somasundaram

Abstract :

Personal loan can be taken for any personal requirement ranging from marriage to holidaying or maybe to buy a lifestyle product or medical emergencies. The end Personal loans are unsecured loans provided by the banks and non banking financial companies without taking any collateral security, though some banks may insist on a guarantor purpose is not important to the bank as long as it is not for speculative trading. Normally personal loan will be very helpful to the end users for their personal use and now they can easily get loan from bankers and private finance based on their eligibility like salary and business income.