Personal loans are unsecured loans for various purposes, such as consolidating debt, financing home improvements, or covering unexpected expenses.
- Benefits:
- Flexible for a variety of personal financial needs.
- Fixed interest rates provide predictable monthly payments (depending on the loan program).
- Eligibility:
- Varies depending on lender.
- Creditworthiness is a key factor (may require good to excellent credit score).
- Stable income and employment history are important.
- Types of Personal Loans in Zambia (may vary by lender):
- Debt consolidation loans
- Home improvement loans
- Medical expense loans