What can I use a personal loan for?
Accepted Answer ✓ Accepted
Personal loans in India have unrestricted end-use, meaning you can use them for: medical emergencies and hospitalization, wedding and related ceremonies, home renovation and repairs, education fees (domestic or abroad), debt consolidation, travel and vacation, business working capital (though business loans are preferable), consumer durables purchase, or any other personal needs. However, lenders typically don't finance speculative activities, illegal purposes, or re-lending. Some lenders may offer better rates if you specify the purpose.
Suggested Answers
You can use a personal loan for almost anything - medical bills, weddings, home improvements, education, vacations, debt payments, or any personal expense. Unlike home or car loans, there's no restriction on how you spend the money.
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