Personal Loans are unsecured loans taken by individuals for various "personal" reasons. In this type of loan, the bank is not concerned about the end-use of the loan. This means that applicants take personal loans for various reasons like:
- Medical emergencies
- Marriage in the family
- Travel- domestic or overseas
- White goods purchase
- To clear credit card outstandings at higher Interest rate (see some examples here )

It is this wide end-use which has made personal loans a very popular loan type in the country. The other factor was the small ticket size (as against home loans or car loans) and lower cut-offs on eligibility. This meant that a large section of population was eligible and they could take loans for as small amount as Rs 50K.

All of us must have received multiple calls from DSAs selling Personal Loans, and some of us might have a Personal Loan running also. Deal4loans can help you get the best possible deal on your Personal Loan requirement.

- Apply for a Personal Loan
- Know more about the banks that can give you a Personal Loan
- Best Personal Loan Rates Salaried: Sep 08 | Aug 08