Is it difficult to get small personal loans?

Answer by  technogeek (6640)

Usually, you will need to have collateral for the loans, like the money already in the bank, or good enough credit to be able to convince the lender to approve you for a loan.

Answer by  John (9008)

It depends upon your credit rating. Generally, it is harder to get personal loans than it is to get loans that involve collateral (like a mortgage or car loan).

Answer by  flamiss22 (5081)

It is extremely difficult to get a small personal loan these days. I work at a bank and granting unsecured loan has practically gone the way of the dinosaur. The economy is too shaky and unstable to take such a risk. You need to have a spotless credit and a lenghty employment record with good pay and few finanacial obligations.

Answer by  SIDDHU (861)

No it is not at all difficult to get small personal loans. Contact the bank from which you want to take with the required documents and you will get it.