home loan

A personal loan provides borrowers with a lump-sum amount that is repaid over time in fixed monthly installments. These loans generally come with fixed interest rates and fixed repayment terms—typically ranging from 1 to 7 years, and sometimes up to 10.

Typical uses include:

• Debt consolidation (e.g., paying off multiple credit cards or loans)

• Covering emergency expenses, home repairs, or major purchases

• Financing personal life events like weddings, medical treatments, or travel
  However, some lenders may restrict loans for business use or educational expenses, so it's important to check terms.