Loan peribadi
A loan peribadi is a term commonly used in Malaysia to refer to a personal loan. It is a type of unsecured loan provided by financial institutions, such as banks or licensed moneylenders, to individuals for various personal purposes. Unlike secured loans, which require collateral, a personal loan does not require borrowers to pledge any assets as security. A loan peribadi is a versatile financial product designed to meet the diverse financial needs of individuals. It provides borrowers with a lump sum amount of money that can be used for a wide range of purposes, such as medical emergencies, debt consolidation, home renovations, education expenses, travel, or any other personal expenses. A personal loan is not backed by any collateral, meaning borrowers do not need to pledge their assets (such as a house or car) as security.