Personal Loan

Personal loan is a form of short-term loans to individuals to meet their consumer goals, not related to business.

The lender can be not only a banking institution, but also credit unions, as well as trade and service organizations.

The main differences between personal loans are:

Forms of personal loans

There are two main groups of personal loans: targeted and non-targeted.

Targeted lending is a commodity loan. The main difference: the loan representative who draws up the transaction knows the client’s ultimate goal – what kind of goods he wants to receive on account of future repayment.

Main characteristics:

Non-targeted loan is a cash loan. Funds come in the form of cash or by issuing a credit card. Among non-targeted loans, there are:

maximum loan term in comparison with other types of consumer loans.

Credit card

Express loan