Before defining the term personal loan which all we’ve heard thanks to the extensive and aggressive advertising that normally launched financial institutions to promote their services, we will define the loan concept. The one which has been framed as an economic obligation acquired by a person to require money for a specific purpose, where this is committed to repay the amount owed within one stipulated period interest rate (which is the profit of the Bank). We already have clear the loan concept, we will now explain the term personal loan. This is an immediate application for money where the borrower offers to guarantee his own person; i.e., undertakes to pay monthly or biweekly credit memo to the amount you requested. Regularly, is necessary to have several guarantors, those who speak in epic terms swear loyalty to the borrower undertakes to respond for the breach of this. But do not panic, these types of loans have been categorized as an easy and economical solution (Yes, as well as read, economic!) because they allow to perform a myriad of investment interest, which still remains somewhat high, allows you to release stress thanks to the payment facilities offered by the banks.