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A
personal loan is simply a sum of money that is
borrowed from a financial institution, such as
a bank or building society, where the borrower
has a clear intention of what the money shall
be used for. The loan will normally be issued
in a single lump sum, and repaid to the lender
in a series of smaller instalments. The period
of time over which repayments must be made can
be anything up to as long as 25 years.
Personal Loans
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