A personal loan is a type of financial loan that allows a person to apply for money from a lender, such as a bank or financial institution, for the purpose of financing personal expenses such as travel, home renovations, purchases of durable goods, or to cover unforeseen expenses.
This type of loan is usually granted without the need to provide collateral or present a specific purpose for the loan, unlike other types of loans such as mortgages or auto loans.
When applying for a personal loan, a person must provide information about his or her income, expenses, credit history, and other relevant factors for the lender to assess his or her ability to repay the loan.
| Positive Points | Negative Points |
|---|---|
| Immediate and personalized response | To obtain your personal loan, you must confirm your nationality |
| By applying online, personal loan applications receive an immediate response | Proof of income or recent bank statements |
If the application is approved, the lender will provide the applicant with a set amount of money, which will be paid back over a specified period of time, along with interest and other financial expenses.
It is important to note that a personal loan is a form of debt, and as such, it can negatively affect a person's credit history if it is not repaid according to the agreed terms.
In addition, the interest associated with this type of loan tends to be higher than other types of loans, such as mortgages or auto loans, due to the unsecured nature of the loan.
Before applying for a personal loan, it is important to carefully evaluate your financial needs and ability to repay the loan, as well as compare the interest rates and terms offered by different lenders.
| Benefits | |
|---|---|
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Security
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It has a security system to avoid scams |
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Low interest rates
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Low interest rates for online applications |
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Approval
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Fast approval through the institution's website |
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Money release
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Money is released in less than 24 hours |
In addition, it is important to read and understand all the terms and conditions of the loan agreement before signing it. So, learn a little more about the Desjardins Personal Loan.
Fixed and variable rates
The Desjardins Personal Loan rates have both fixed and variable interest rates. These rates differ depending on the amount requested, repayment period and the applicant's credit history. To find out more, click on the button below.
I Want My LoanLoan Insurance
The Desjardins Personal Loan, has an optional coverage case insurance that allows you to pay off your loan in case of death and disability.
Credibility
The institution is one of the most sought after in the credit market. Having a lot of credibility, it stands out for its countless advantages and facilities for application and credit release. So, learn a little more about it by clicking on the button below.
I Want My Loan
