Private personal loans vs a bank loan – which is better?
When comparing loans, there are a few key factors that must be given careful consideration in order for the consumer to make the right choice. Among these are the question of interest and loan periods, specifically which provider can offer the lowest interest rate at the shortest repayment term. Another important consideration is whether private personal loans are better than a traditional bank loan. This depends largely on the type of borrower, as consumers with poor credit may struggle to get a bank loan, but will be well catered for in the private market. Private lenders are also recommended for their speed and the ease of their application processes which require little personal information.