A personal loan is a type of unsecured loan offered by a banking establishment or an NBFC (Nonbanking Financial Company) to an individual borrower, based on his/her credit history, employment history, monthly income, repayment capacity and other important criteria. In most cases, a personal loan is available to both salaried and self-employed individuals as long as they meet the eligibility criteria laid out by the lender. It is obvious that when you start thinking about taking a personal loan, you will be faced with many questions such as the interest rate charged on this loan type, its tenure, repayment time period, charges involved etc. Below we have provided a detailed section on frequently asked questions related to personal loans. Hope it helps resolving any query you may have regarding this loan type.