Personal loans are great for those who required cash urgently. It can be secured or unsecured. A secured loan is simply one that is provided that has collateral.
What should I do after being granted a loan?
Make sure the moneylender delivers to you the correct principal amount of the loan. The moneylender is only permitted an upfront deduction of a loan approval fee of up to 10% of the principal amount.
Pay the loan instalments on time to avoid incurring late payment fees and late interest.
Make sure the moneylender issues to you a receipt every time you make any repayment towards your loan, and check it for correctness (e.g. name, amount, date).