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A personal loan is a type of unsecured loan provided by financial institutions such as banks, credit unions, or online lenders. Unlike secured loans that require collateral, personal loans are granted based on the borrower's creditworthiness and ability to repay the loan. These loans can be used for various purposes, including debt consolidation, home renovations, medical expenses, education fees, or any other personal financial need.
Source: https://www.mymudra.com/loan/personal-loan
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A personal loan application may be rejected due to many reasons. Read our blog to learn the common reasons for personal loan rejection and how to avoid it.
Mudra loans under Pradhan Mantri Mudra Yojana can be availed from a nearby branch office of a bank or NBFC. Read this article to know the scheme in detail.
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