Personal Loan: Loans available from banks and other financial institutions to private individuals for personal use such as the purchase of a motor vehicle, holiday or similar item are personal loans. Repayment periods vary from one year to five years. No collateral is asked for or given for the loan.

 

Related Words

Personal Loan: Loans available from banks and other financial institutions to private individuals for personal use such as the purchase of a motor vehicle, holiday or similar item are personal loans. Repay . . . View Full Definition

Secured Loan: A loan which is backed up by assets belonging to the borrower (normally property) in order to decrease the risk taken on by the lender. Mortgages and some personal loans are secured loans. I . . . View Full Definition

Personal People Meter (PPM): Hardware currently being tested by Arbitron. The PPM is a pager-sized device that is worn by consumers throughout the day to automatically detect inaudible codes that radio and television br . . . View Full Definition

Personal Possessions: The personal possessions of a deceased person which pass to the beneficiary or beneficiaries of the residue of estate unless otherwise stated in the will.

Personal Property: Things that are tangible and movable, property that is not classified as real property, such as chattels. Title to personal property is transferred by way of a bill of sale, as contrasted wi . . . View Full Definition

Personal Protective Equipment: Clothing and other work accessories (i.e., safety glasses, hearing protection, etc.) designed to create a barrier against potential workplace hazards.

Personal Information Destination (PID): There are millions of pages of information on the web, but if you are looking for a specific item, there is only one page -- or very few -- that contains exactly the information you need. Th . . . View Full Definition

Personal Inflation Rate: The inflation rate as it affects a specific individual.

Personal Foul: A foul that might cause injury; punishable by a 15-yard penalty.

Personal Guarantee: A guarantee that the primary owner will assume personal responsibility for repayment of the loan, should the company not repay the loan.