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Personal Loans

A personal loan is a type of loan that is offered by a bank, credit union, or other financial institution. Personal loans are typically unsecured, meaning they are not backed by collateral, and they can be used for a wide range of purposes, such as debt consolidation, home improvements, or medical expenses. Continue Reading Below

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Industry Studies

2026 Personal Loan Interest Rate Study: Same Borrower, Very Different Prices Thumbnail

2026 Personal Loan Interest Rate Study: Same Borrower, Very Different Prices

Miron Lulic

Encyclopedia Articles

Discover the definition of financial terms related to personal loans.

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Learn About Personal Loans

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How To Settle Credit Card Debt When a Lawsuit Has Been Filed

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What Are the Differences Between Creditors and Debtors?

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How Much Do You Get for Donating Plasma? Pay at Every Major Center (2026)

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$100 Loan Instant App: 7 Fast Cash Apps That Actually Work

Andrew Latham

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How to Borrow $50 Instantly: 6 Apps That Send Cash Today (2026)

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How to Become Financially Independent in 10 Steps

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About Personal Loans

A personal loan is a type of loan that is offered by a bank, credit union, or other financial institution. Personal loans are typically unsecured, meaning they are not backed by collateral, and they can be used for a wide range of purposes, such as debt consolidation, home improvements, or medical expenses. The terms of a personal loan, including the interest rate and the monthly payments, will depend on the lender and the borrower's creditworthiness. Personal loans may have fixed or variable interest rates, and they are typically repaid in regular installments over a set period of time, such as two to five years. It is important to carefully compare the terms of different personal loans before choosing one.