A personal instalment loan, also known as an unsecured loan, is a type of loan that allows you to borrow a specific amount of money at any time, and pay it back through several fixed instalments over a period. Unlike a secured loan, which requires a house or a car as part of a collateral security, a personal loan only requires a monthly payments consisting of both the loan's principal and interest. However, if you pay it off on time, you can use the money from your personal loan to finance personal goals. With your personal loan, you will have the funds to use on whatever you like such as: refurbishing your home or planning your next dream holiday. You can simply pay back any personal loans within one to five years, making it a lot simpler to manage your budget whilst repaying it in full.
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