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Get Rid Of All The Personal Loans Myths And Apply For Wedding Loans

Personal loans have many benefits but several half- baked theories too like wedding loans with bad credit cannot be availed. This often misleads people regarding a personal loan and compels them to look out for more expensive ways to deal with financial emergencies. <br>https://yourownfunding.com/wedding-loans/

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Get Rid Of All The Personal Loans Myths And Apply For Wedding Loans

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  1. Personal Loan Myths

  2. Personal Loans A personal loan is an installment loan that provides funds that borrowers can use for any purposes like for wedding, home improvements, credit card consolidation, etc.

  3. Myths About Personal Loans

  4. Personal Loans Takes Time In Approval Borrowers often avoid applying for a personal loan thinking it involves relatively longer processing time and lengthy approval process. But being personal loans unsecured in nature they are usually disbursed within 2-7 working days of submitting the loan application, with minimal documentation. Also, some lenders offer instant personal loans on the same day.

  5. No Personal Loan For Low Credit Score A credit score is one of the most important factors considered to determine your personal loan eligibility. However, a credit score does not entirely impact your loan approval chances. If you have a low credit score other factors like your income, employer, etc. can save your loan application. You can also apply for bad credit loans such as wedding loans with bad credit, student loans for bad credit, etc

  6. Only Salaried Individual Can Get Personal Loans It is a very commonly misinterpreted that only salaried professionals with a uniform flow of income can avail personal loans. Self-employed individuals/professionals can also apply for a personal loan. Some of the lenders also offer a personal loan to senior citizens.

  7. High Interest Rates A lot of people have this misconception that interest rates on personal loans are high. But this not the fact. Interest rates on your personal loans depend upon the various factors like the lender, your credit score, your repayment history, etc.

  8. Use Of Personal Loans Personal loans come with a flexible end use that is they can be used for any purpose. You can even invest money availed from a personal loan in a business idea or you can buy equipment for your business or can pay salaries to your employees. There are no barriers for personal loan usability.

  9. No Pre Payment Option Due to the shorter tenure of a personal loan that usually varies from 12 to 60 months, many people believe that there is no prepayment option offered on a personal loan. But that's not true. However, you can prepay the loan before the tenure ends.

  10. Contact Us Address: 5579-B Chamblee Dunwoody Road #219 Atlanta, Ga 30338 Call: 1 877-755-2103 Email: cs@yourownfunding.com Website: www.yourownfunding.com

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