A short-term personal loan is a personal loan with a compact repayment window. Instead of spreading repayment over three to five years, you clear it in months.
Key features
- Unsecured: you don't pledge gold, property or a vehicle.
- Fixed instalments: the EMI stays the same each month, which makes budgeting easier.
- Short tenure: typically a few months up to a year.
- Flexible use: medical needs, travel, repairs, fees or short-term working capital, subject to the lender's terms.
Read more: Short-Term Personal Loan India
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