personal-loanWhat is a bank personal loan?

A bank personal loan is a great option for anyone who needs a fairly high amount of cash that may otherwise be unavailable through savings. A personal loan has a few advantages over a credit card in that it comes with a fixed interest rate and a fixed repayment period. This means you can enjoy the stability of a fixed monthly payment, whereas with a credit card you are at the mercy of fluctuating interest rates. What’s more, bank personal loans do not require any collateral to be put up as security and they can be used for any purpose the borrower has, whether it be home renovation or travel expenses.