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cupoosta [38]
3 years ago
13

What is a benefit of obtaining a personal loan?

Social Studies
1 answer:
ruslelena [56]3 years ago
3 0

Answer:

getting money with special repayment terms

Explanation:

Personal loan is the type of loans that is designed specifically for one individual. Commonly, this type of loan is given for the borrower to fulfill a short-term goal (such as paying  for their weddings, making a car purchase, etc).

When a person getting a personal loan, the terms of repayment usually will be affected by financial condition of the borrower. If the borrower have a good credit history along with enough ownerships of assets that can be used as collateral, the repayment terms usually become more favorable and the interest rates will be lower compared to other forms of loan.

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