Personal payday loan or personal credit?

The term “personal payday loan” is often used misleadingly. Banks and savings banks speak of a personal payday loan if the bank grants a classic installment loan to a private individual. “Private” defines the intended use or the target group. In contrast, the personal payday loan in connection with online credit marketplaces is an installment loan that is granted by a private individual. Operatively, this type of money lending is also processed through a bank, but the capital does not come from thebank, but from a private investor. has examples