Loan peribadi

Rmpluscapital118 Aug, 2023Business

A personal loan, also known as a "loan peribadi" in Malay, is a type of unsecured loan offered by financial institutions to individuals for various personal expenses. Unlike secured loans that require collateral, personal loans are typically based on the borrower's creditworthiness and ability to repay. These loans can be used for a wide range of purposes, such as consolidating debts, covering medical expenses, home improvements, or funding special occasions. Borrowers receive a lump sum of money upfront and then repay it in fixed installments over a predetermined period, often with interest. It's important to carefully consider terms, interest rates, and repayment schedules before applying for a personal loan.