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Question by Anonymous Z: I bank with Chase and they do not offer personal loans. Where can I go to obtain a personal loan?
Also, above what credit score do they usually consider you for a loan. We are looking to get a $ 5k personal loan. Thank you!!
No one at the bank TOLD us they do not do personal loans…I just do not see any onformation about it on their site where they list all their services. Mortgages are NOT hard to get IF you have the appropriate credit score and make enough to affor the home you are purchasing. Moron!

Best answer:

Answer by Gaytheist Buddha
Credit unions are usually the best place. Most loans require a minimum FICO score of 620, though people with lower scores may still find money available at high interest rates. Good luck.

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by MANILA IMPERIAL MOTOR SALES . . . .

Personal Loans : The easy way out

Article by Addi

Personal Loans are short term credit and meant for only for a few years. The interest rates are high for personal loans as most loans do not need a collateral on the part of the loan applicant. These kind of loans come under the high risk category for the bank and thus the interest rate charged is high and the loans are given out only for a short period of time. The specific need for the loan need not be mentioned in the contract as the bank does not exactly keep a tab on how the funds are spent by the loan applicant.

The funds thus gathered from these loans are received from the bank in a matter of days. The amount of funds which the person will receive from the bank depends on the current income scenario of the individual. The bank has to after all make sure that whether the person they are extending their credit to have the ability and capabilities of paying the funds back. The banks always try to reduce their NPA’s or Non Performing Assets as far as possible and try to keep the percentage as low as possible. Also if the individual who has received the loan lapses or defaults on his/her payments then the headache of the payments and recovery falls on the banks which results in delayed payments and also more expenses on the sides of the bank as well.

These problems are taken care of easily by HDFC Personal loan as they take every personal loan application on a case by cae basis and look into the requirements of the clients and the financial stability of their lives before granting them credit. Also the bank believes in completing the formalities of granting loans as fast as possible. In this the bank can complete and accept as many loan applications possible and also the the applicant also gets the credit required in time and without any wastage of time either on the banks part or the customer.

However personal loans have a dark side as well with the banks taking various extreme measures to recover their investments and also making sure that the payments are made on time. Their have been instances where the individual has been beaten up and their assets snatched from them. Their cars are taken away sometimes and their houses ransacked. Some banks do this and some don’t and thus it is always safer to take th loans when one is able and completely capable of paying back the loan amount and very importantly paying back the loan amount on time. HDFC Personal Loans takes specially care that their client do not have to face such difficulties and grant loans to only those who they are pretty sure are capable of paying back.

Personal Loans are borrowings, a given amount of money taken as a loan from any financial institutions offering such loans for any personal use. The specific purpose of acquiring the loan and where will the funds be spent is not mentioned in the contract. The person who has taken the personal loan can use the money for almost anything. Certain expenses such as gambling and some other illegal activities are not allowed. The amount can be used for a vacation, buying an automobile, buying electronic items and for debt consolidation. Personal loans is a financial instrument which gives the common individuals the financial ability to make purchases while gathering and saving funds for payment of the personal loan later.

For more to know on Personal Loan, HDFC bank Loan visit http://www.paisawaisa.com/

About the Author

The author is a business writer specializing in finance and credit products and has written authoritative articles on the finance industry. For more to know on Personal Loan, HDFC bank Loan visit http://www.paisawaisa.com/

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by MANILA IMPERIAL MOTOR SALES . . . .

Basics of Personal Loans

Article by ajax

Banks offer different kinds of loans, one of which is Personal Loan. Available at your discretion, a personal loan is a typical general purpose loan. Expenses like paying bills, car repairs, paying school fees etc. often need unsecured loans to be covered. Personal loans are unsecured loans which are granted to people with good credit records. A good credit record implies an ability to repay.

Often touted as a resourceful tool for debt consolidation loans, multiple accounts can be merged into one single payment through personal loans. However, personal loans are difficult to obtain because the requirements to qualify for personal loans are considerably strict.

What You Should Know About Personal Loans

Here are certain facts that you should be aware of, before applying for a personal loan:2. Personal loans are unsecured loans. The lender will not require an asset as collateral. This is a good reason why personal loans are difficult to obtain. Although the lender cannot seize an asset, non-payment of the loan can attract lawsuits.

3. Personal loans are based on a fixed amount. Based on your credit rating, a personal loan usually ranges between 00 – 000. Higher amounts can only be obtained from banks that you already share a good credit history with.

4. Personal loans have fixed interest rates. The interest rate of a personal loan remains fixed and does not change during its life span. Like the loan amount, interest rates for a personal loan, vary according to the credit rating of the applicant. Hence lower interest rates are preferable because this makes it easier for you to repay the amount. Few personal loans come with a variable interest rate.

5. Personal Loans have a fixed repayment period. If you borrow a personal loan, your repayment period is fixed, mostly in months. Longer repayment periods may lower the monthly repayment amount. However, this tends to increase your interest rate. Shorter repayment periods attract a lower rate of interest.

Since a personal loan is unsecured, they usually tend to come with a higher rate of interest. Also, they are considered as one of the bestdebt consolidation program. If you do not have an impressive credit history, you could obtain a personal loan by acquiring a credit card. However, this works only for small amounts. An extra option lies in the form of money sourced from friends and family, from whom loans can be obtained with a clear contract on repayment.

About the Author

DebtBurst

A secured credit card helps to build credit by allowing the card holder to provide cash collateral to the bank while making payments on time. After a set period of time, a secured credit card will turn into an unsecured credit card. Find out how credit reporting agencies see secured credit cards as an effort towards building better credit withinformation from a financial adviser in this free video on credit cards. Expert: Matthew McKillen Contact: www.innovativefg.com Bio: Matthew McKillen has more than 21 years of industry experience in arranging loans for his clients. Filmmaker: Christopher Rokosz

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