2006-12-29 19:16:29 · 4 answers · asked by santhosh k 1 in Business & Finance ➔ Personal Finance
It can be defined differently by banking and loan organizations, but is generally considered a Loan going to a single person as opposed to a business or organization.
2006-12-29 19:18:28 · answer #1 · answered by bionicbookworm 5 · 0⤊ 0⤋
A personal loan is a loan that is not secured by collateral (land, house, car, etc.) It is a loan that is extended to you on the good faith that you will repay it without having to "guarantee" it with some type of tangible property.
I'm sure you've heard the old expression about a "good name". This is one of the places it comes from...you're being given a loan on your "good name".
2006-12-30 06:50:00 · answer #2 · answered by Inquisitive125 3 · 0⤊ 0⤋
a loan that is not for something like a car or house
2006-12-29 19:20:11 · answer #3 · answered by Aviator1013 4 · 0⤊ 0⤋
Check out www.prosper.com , this is an example of a place to get "personal" loans..
2006-12-30 01:17:36 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Sorry I cant tell you,its personal
2006-12-29 19:21:11 · answer #5 · answered by frank m 5 · 0⤊ 0⤋