Easy access to loans for just about any thing, has led to its immense popularity amongst all. But, have you ever wonder what happens if you are unable to repay the loan installment on time?
The biggest advantage of a personal loan is that it is an all-purpose loan. So you can take a personal loan to take your family on a trip to Australia, or buy the latest Sony LCD TV, or even to pay off your credit card dues. Your bank doesn’t care as to how you use the loan amount sanctioned to you.