123ArticleOnline Logo
Welcome to 123ArticleOnline.com!

ALL >> Investing---Finance >> View Article

4 Reasons For Taking Personal Loans

By Author: Neha Sharma
Total Articles: 108

A personal loan is financial aid that is granted to an individual for his use, which is not business or commercially related. Such loans are backed by credibility. There are various factors that involve in the process of getting a personal loan. In this article, we give you the 4 main reasons, why a personal loan is good for you.

1. Convenience

Many a times, your expenditure is more than your income. And in such situations, pending bill payments and EMI’s will seem like a headache. Not only does this personal loan lowers the pressure of bills, EMIsor other payments, but you can plan your forthcoming personal or house budget accordingly. In a personal loan, you will be well prepared with a monthly plan, the rate of interest to be paid back, and the exact period also. Thus your will handle your finances more confidently.

2. More Investing options

A personal loan is an ideal option for personal investments. It helps broaden your options of investing in certain plans while getting a beneficial return. While the personal loan can be used to fulfill your monthly expenditures and needs over a fixed period of time, part of your financial income can be used to invest in various investment options. In this way, you will gain more in the long run. Thus while protecting your daily expenditures, you can also get more freedom to invest and get higher returns.

3. Personal Use

The main purpose of a personal loan is a safe financial consumption for personal use. If you are in a situation where you find yourself travelling to new place, or even having a wedding, you will need to have a huge financial backing. However at times, your income may not be sufficient for such situations. With a financial aid like personal loan, not only can you have your dream vacation or wedding, but you will also have a less stressful life knowing that you will have a fixed and consolidated plan to repay back the loan over a fixed period of time.

4. Emergency Situations

Many a times you will find yourself in a situation where you need a large amount of funds. This situation can either be a medical or financial situation and your income does not suffice. However, you can apply for a personal loan for such situations and all your problems can be relieved. As most individuals live on a shoe string budget, such situations can hamper your savings. With a personal loan, not only will your household and other finances be safe, you will be prepared with the necessary funds to deal with the situation, at a moment’s notice.


Author Bio :-Neha Sharma; a finance student, loves to write about personal loans and more. Therefore, it does not come as much of a surprise when she would like to contribute her opinions to the public.

Total Views: 121Word Count: 476See All articles From Author

Investing / Finance Articles

1. Imputing The Services Of Individual Taxpayer Identification Number To Build Tax Solutions
Author: Robin Joe

2. Why A 5 Year Fixed Deposit Is The Ideal Choice For You?
Author: Mayur Sheitty

3. How Can Existing Home Loan Owners Reduce Their Current Interest Rate?
Author: Mayur Sheitty

4. Loans For People With Bad Credit – Speedy And Flexible Way For Borrowing
Author: Stephen King

5. Expand Your Business With A Sme Loan
Author: Mayur Sheitty

6. Self Employed Home Loan: Here Is What You Need To Do
Author: Mayur Sheitty

7. Same Day Cash Loans Bad Credit –best Way For Making Swift Funds
Author: Stephen King

8. Assets Audits Of The Asquith Group Asia, Tokyo Japan
Author: Ava Kraegen

9. Facts About Fixed And Variable Home Loans
Author: Kimberly Ash

10. Relation Between Different Commodities And Commodities Based Stock
Author: Mahendra Rajput

11. Investment Procedure Of The Asquith Group Asia, Tokyo Japan
Author: Ava Kraegen

12. Best Interest Rates At Home And Mortgage Loans
Author: Shreekant Rao

13. The Home Loan Transfer - An Effective Way To Reduce The Interest Burden
Author: Arwind Sharma

14. Scope Of Forex Market In India
Author: sharetipsinfo.info

15. Benefits Of Money 2 India Service For Nris
Author: Neha Sharma


Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: