personal loan
Individual debt arrangement
A personal loan is money borrowed from a bank or lender for any purpose the borrower chooses—consolidating debt, covering emergencies, financing a wedding.
Unlike a mortgage or auto loan, it isn't tied to a specific asset.
Personal loans are typically unsecured, meaning no collateral is required, though this results in higher interest rates.
- lenderOne who loans money
- credit checkExamination of payment history
- borrowerOne who takes temporarily
- credit scoreNumerical measure of borrower reliability
- interest rateCost of borrowing money
bad credit · annual percentage rate · co-signer · credit card · emergency · financial hardship · prepayment penalty · disposable income · principal amount · monthly payment · promissory note · debt-to-income ratio · term · monthly · collateral · bank · paycheck · repayment
- debtdebt, creditor, owe, debtor, lender
- debtscredit card debt, medical debt, student debt, mortgage, debt
- banking documentsmortgage, promissory note, fee schedule, disclosure, payment terms
- debt typescredit card debt, revolving credit, line of credit, credit line, promissory note
- financial agreementscredit agreement, promissory note, line of credit, credit line, HELOC
- bankingbank, banks, ATM, ATMs, account
personal loansecured loan
Borrowing with pledged collateral
mortgage · home equity loan · auto loan · title loan · student loan
personal loanbusiness loan
Credit for enterprises
commercial loan · small business loan · commercial mortgage · corporate debt
person, personal, loan, personality, personally, loaned, loans, loaning, loaner