When refinancing loans, an existing loan is replaced by a new loan, usually with better conditions and more favourable interest rates. This is why it is also referred to as loan restructuring or redemption credit.
If there are existing loans, a loan pooling can also make sense in order to replace the existing loan with a new personal loan.
Refinancing loans also belong to the category of personal loans in addition to car loans or home furnishing loans.
How to refinance your loan with LEND in three steps: