Credit
What is Personal Loan? — Meaning, Definition & Example
Definition
A personal loan is an unsecured loan that can be used for any purpose — medical emergencies, wedding, travel, debt consolidation, or home renovation. Interest rates range from 10.5% to 24% depending on credit score and income. No collateral required.
💡 Real Example
A ₹5 lakh personal loan at 12% for 3 years has an EMI of approximately ₹16,607, with total interest of ₹97,854 over the tenure.
🇮🇳 Personal Loan in Hindi / हिंदी में
पर्सनल लोन — पर्सनल लोन एक असुरक्षित लोन है जो किसी भी उद्देश्य — चिकित्सा, शादी, यात्रा, ऋण समेकन के लिए उपयोग किया जा सकता है।
Personal Loan (Hinglish) — Personal loan ek unsecured loan hai jo kisi bhi purpose ke liye le sakte ho — medical, wedding, travel, debt consolidation. Interest rate 10.5% se 24% tak hoti hai. Koi collateral nahi chahiye.
❓ Frequently Asked Questions
What is Personal Loan in simple words?
A personal loan is an unsecured loan that can be used for any purpose — medical emergencies, wedding, travel, debt consolidation, or home renovation. Interest rates range from 10.5% to 24% depending on credit score and income. No collateral required.
Can you give an example of Personal Loan?
A ₹5 lakh personal loan at 12% for 3 years has an EMI of approximately ₹16,607, with total interest of ₹97,854 over the tenure.
What is Personal Loan meaning in Hindi?
In Hindi, Personal Loan is called पर्सनल लोन. पर्सनल लोन एक असुरक्षित लोन है जो किसी भी उद्देश्य — चिकित्सा, शादी, यात्रा, ऋण समेकन के लिए उपयोग किया जा सकता है।