Mika
VIP Contributor
You can get a loan not only to start a business or invest in something but also for personal purposes. A personal loan means you get a loan to fund personal things and not necessarily in a business where you expect return on investment.
You can get a personal loan for...
Paying for your medical bills (an operation, for example)
Buying a TV, Fridge, Washing Machine, etc.
Home improvements (adding a room, for example)
Paying for education (to enroll in a medical school, to fund foreign education)
If you have a regular income source but you do not have enough money to do things that you want to do, for example, get an operation, or add a room in your house, you can get a personal loan. A personal loan helps in your personal finance by funding your personal expenses.
In order to be eligible for a personal loan, you need to have something that can be used as collateral, for example, gold, land, or a house. Giving collateral is not enough, you also need an income source that you can show in papers, your salary sheet, for example. Your eligibility increased if you are employed in reputed organizations like international agencies, government jobs, etc. Your employment status will increase the chance of getting a personal loan.
You can get a personal loan for...
Paying for your medical bills (an operation, for example)
Buying a TV, Fridge, Washing Machine, etc.
Home improvements (adding a room, for example)
Paying for education (to enroll in a medical school, to fund foreign education)
If you have a regular income source but you do not have enough money to do things that you want to do, for example, get an operation, or add a room in your house, you can get a personal loan. A personal loan helps in your personal finance by funding your personal expenses.
In order to be eligible for a personal loan, you need to have something that can be used as collateral, for example, gold, land, or a house. Giving collateral is not enough, you also need an income source that you can show in papers, your salary sheet, for example. Your eligibility increased if you are employed in reputed organizations like international agencies, government jobs, etc. Your employment status will increase the chance of getting a personal loan.