WHAT IS A PERSONAL LOAN?Personal Loan Application • May 2nd, 2013
Contract Type FiledMay 2nd, 2013A personal loan, also referred to as consumer credit, is a loan agreement whereby an individual is provided with a certain sum of money that they must subsequently repay in fixed regular instalments (typically on a monthly basis) over a given period of time. It is not the same as a mortgage, which is taken out to buy a house or flat.