What is a Loan?
In simple words, a Loan is borrowing money that is to be returned later or a debt incurred by the lender. A loan is taken for a fixed tenure and required to be paid back additionally with a rate of interest.The borrower and the lender must mutually agree on the terms of the loan before it gets sanctioned.
The lender can be a financial institution, a bank, or a governmental body thatgives a certain amount of money to the borrower in time of emergency or to cover up other expenses such aswedding budgets, fees for foreign education,home renovation, etc.
A shortage of money can upsurge at any time. Hence, acquiring a loan is the easiest way to deal with the financial crisis. Nowadays, various digitized personal loan apps are available on android phones.Download the loan app from Google PlayStore and avail a quick loan in just a few clicks. Check the SimplyCash App to seek personal loans at a low rate of interest.Download App