What can I use a Personal Loan for?

October 01, 2020

What can I use a Personal Loan for

If you have to meet any emergency or unplanned expenditure in life, then Personal Loans are the best way to secure the requisite funds. At times, it even becomes a tough challenge to meet expenses like weddings or travel holidays with your regular salary or earnings. It is precisely at these times that you can apply for online loans and get access to the best Personal Loans.

You can use a Personal Loan to meet a variety of expenses. Some of them are:

Wedding Expenditure: Your wedding is invariably the greatest day of your life. At the juncture of this personal milestone, you might have to incur significant expenditure in booking the venue and accommodation for guests, catering costs, purchasing jewelry, and shopping for a wide range of commodities—from gifts to your wedding ensemble. You can easily meet the expenditure with the best Personal Loans.

Holiday Expenditure: So, you have been planning for a trip to that exotic destination for long, and finally everything falls in place. But what about the multitude of expenses? With the advent of online loans, you can access the best Personal Loans without the need for lengthy paperwork or multiple physical trips to a bank’s office. You can take a trip to that dream destination of yours—be it some foreign locale or a trip to a pristine tourist destination—by securing a Personal Loan.

Home or Office Renovation Expenses: If your home requires those vital repairs, look no further than a Personal Loan. Be it the cost of interior designing through new furniture or state-of-the-art fixtures, or plugging the holes in those leaky walls of your bathroom, you can apply for online loans and get access to the best Personal Loans. Even if you want to redesign or renovate your office space to have those important client meetings in style, or impress the investors with the office environment, it is recommended that you opt for a Business Loan.

Miscellaneous Expenses: The best part about a Personal Loan is that it does not require collateral, and you can use it to meet a wide variety of expenses. For instance, if you have taken a loan from a relative or a friend, and do not have sufficient funds to pay them back at the earliest, then you can secure a Personal Loan to consolidate the debt you owe them without putting your personal relationship at risk.

Medical Expenses: You can use a Personal Loan for any sudden medical expenses or hospitalization cost. If you have not taken a comprehensive health policy, and suffer from a sudden illness, these loans can be used to pay off manifold medical bills. With the increase in medical expenses, you can also secure the best Personal Loans to meet the shortage of finance, if any, in the case of any unforeseen sudden medical expenditure.

Top Up Expenses: There may be possible scenarios where you have already taken a Personal Loan for any sudden expenditure, but there is a shortfall in meeting the financial requirements. You can easily meet the deficit with a top-up loan. You can either combine the top-up loan with an existing Personal Loan or treat it as a separate loan.

With ICICI Bank Personal Loans, you can receive instant Personal Loans of up to Rs 20 lakh at attractive rates of interest ranging from 11.25% to 17.99% per annum. You can simply visit the Personal Loan eligibility page, fill in a few details, and complete the assessment for your Personal Loan.

 

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