Personal Loans
A personal loan is a loan that you can use for various personal purposes, such as buying a car, renovating your home, consolidating your debts, travelling, paying for education or medical expenses, or anything else you need or want.
A personal loan lets you borrow a set amount of money from a lender and repay it over a fixed term, usually between one and seven years, with interest and fees. The interest rate can be fixed or variable, depending on the loan type.
A personal loan can be secured or unsecured. A secured personal loan requires you to provide an asset, such as your car or property, as security for the loan. This can lower the rate and make it easier to get approved, but it also means that you risk losing your asset if you miss the loan payments.
At Enlighten Finance, we offer both secured and unsecured personal loans for various purposes. We have access to over 30 lenders and thousands of personal loan products that match your needs and budget. We will compare and negotiate for you to find you the most competitive deal for your situation.
An unsecured personal loan does not require you to provide any security for the loan. This can give you more flexibility and peace of mind, but it also means that the rate may be higher, and the criteria may be stricter.