n Reward: Immediate financial aid and stress discount.
Risk: High-interest rates leading to a debt trap if not managed properly.
Reward: Flexibility in compensation provides comfort.
Risk: If secured, collateral could be in danger in case of defa
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n Personal Loans: Primarily for basic expenses—medical, groceries, hire, etc.
Secured Loans: Loans towards collateral, like property or gold.
Short-term Loans: High-interest loans for brief duration to fulfill instant needs.
Payday Loans: Short-duration, high-interest loans linked to the applicant’s next paych
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