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Lesser-Known Uses for a Personal Loan

By Finserv MARKETS - Aug 5,2019
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Lesser-Known Uses for a Personal Loan

A personal loan is one of the most popular types of loans in India. Availing these loans is generally not much of a hassle as they do not have stringent eligibility criteria, unlike other types of loans. People usually apply for a personal loan in emergency to pay medical bills, clear existing debts, or fund their start-up business. However, its uses are not just restricted to these examples. Discussed below are some other, lesser known uses of personal loan-

  • To Pay off Legal Fees

  • Cosmetic Surgeries

  • Build Your Own Personal Gym

  • Buying Expensive Gadgets

To Pay off Legal Fees

In a country like India, the chances of court cases being dragged for months or even years are quite high. God forbid if you get caught in any legal battle, the expenses involved for covering an exorbitant lawyer fee or any other legal charges can quickly dry up your bank account. A personal loan can be used for paying lawyer fees, legal counsel, as well as for covering any charges levied on you.

Cosmetic Surgeries

While competent health insurance plans can cover a majority of your medical expenses, they do not provide any provisions for covering cosmetic surgeries. People generally opt for cosmetic surgery to enhance their appearance. Some of the most common cosmetic surgeries in India include liposuction, rhinoplasty, breast lift/reduction, abdominoplasty, blepharoplasty, rhytidectomy, etc. Most health insurance plans do not cover these procedures, as they technically do not classify as serious medical conditions. However, you can easily avail a personal loan to pay for cosmetic surgery.

Build Your Own Personal Gym

How many times have you made a resolution to join a gym but failed to come through on your resolve? While, initially people are very pro-active in following a gym regime, eventually the interest fades because of the hectic work schedule or just laziness and your gym membership costs and personal trainer expenses just go in vain. A more affordable alternative to this problem is if you build your own personal gym at home. This way, you can work out any time you want and need not feel weary of going to the gym every day. Buying state-of-the-art equipment can be a one-time expense and you can easily take out a personal loan for buying them.

Buying Expensive Gadgets

If you are a gadget freak that likes to have the latest gadgets, be it mobiles, laptops, projectors, music systems, etc. but feel that their cost is surpassing your set budget, you can take out a personal loan to buy these gadgets. While for most tech-freaks, these latest gadgets could just be a luxury item, some professionals might actually need them for their work purpose. For instance, people working in fields like animation, video editing or online game development might require high-end laptops and desk screens for their work. As purchasing them would be an expensive deal, most people opt for taking a personal loan to buy these high-end gadgets. With a Bajaj Finserv Personal Loan you can enjoy benefit suck as quick approval, attractive interest rate, flexible repayment options and loan amount ranging from 50,000 to 25 lakhs.

These are just a few advantages of personal loan along with their some lesser known uses. You can utilize a personal loan for several other purposes. A personal loan is also the best way to get yourself out of any financial pickle. You can explore more about personal loan by visiting Finserv MARKETS.

For instance, the Bajaj Finserv Personal Loan available on Finserv MARKETS comes with a basic eligibility criteria and flexible repayment options. You can avail loans, available on Finserv MARKETS, upto INR.25 lakhs and get them approved in just 3 minutes. Contact now to know more about the personal loan interest rates and flexible loan repayment options available on Finserv MARKETS.

Finserv MARKETS, from the house of Bajaj Finserv is an exclusive online supermarket for all your personal and financial needs. Loans, Insurance, Investment and exclusive EMI store, all under one roof- anytime, anywhere!

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Bajaj Finserv Direct Limited ("BFDL"), erstwhile Bajaj Financial Holdings Limited is a registered corporate agent of Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited under the IRDAI composite registration number CA0551 valid till 10-Apr-2021. BFDL also renders services to Bajaj Finance Limited (‘BFL’) and Bajaj Housing Finance Limited (‘BHFL’) (referred hereinafter as ‘Lending Partner’) in sourcing of customers, providing preliminary credit support activities, fulfilment services and post-acquisition customer services related to lending business. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522