PERSONAL LOANS

Personal loan is an unsecured loan provided by Trivago Financial Loan Company Inc (NBFC) to an individual on the basis of key criteria such as income level, credit history, repayment capacity, employment history and other relevant factors that tend to vary from lender to another. Also known as a signature loan, a personal loan is extended to salaried and self-employed individuals alike on the basis of a judgment call made by the loan sanctioning officer on the basis of documentation submitted by the applicant.

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As a personal loan is unsecured and you do not put up collateral such as property or gold to avail it, in case of a default, the lender cannot put up anything you own up for auction. Due to the greater perceived risk when sanctioning this loan, the interest rates are low as compared to a home loans, gold or car loans. However, like any other loan, defaulting on a personal loan is definitely not a good idea, as it would show up on your credit report and lead to problems when you attempt to apply for credit cards or other loans in the future.