Loan peribadi

A personal loan, often referred to as "Loan Peribadi" in Malaysia, is a financial product offered by banks, credit unions, and financial institutions. It provides individuals with a lump sum of money that can be used for a variety of purposes, such as debt consolidation, home renovations, medical expenses, travel, or any other personal financial need. Unlike specific-purpose loans (like home loans or car loans), personal loans are unsecured, which means they do not require collateral. Personal loans do not require collateral, meaning borrowers don't have to put up assets like a house or car as security. This makes them accessible to a wider range of individuals.In most cases, personal loans come with fixed interest rates, which means that the interest rate remains constant throughout the loan tenure. This helps borrowers plan their repayments with predictability.