personal loans
Unsecured consumer credit
Personal loans are money borrowed from a bank, credit union, or other lender for individual use, typically repaid in fixed monthly installments over a set term.
Unlike mortgages or auto loans, personal loans are usually unsecured—not tied to specific collateral—and can be used for almost anything: She took out a personal loan to consolidate her credit card debt.
Interest rates depend largely on the borrower's creditworthiness.
- interest ratesPrice paid for borrowing
- credit unionsMember-owned financial cooperatives
- cosignerSecondary loan obligor
- credit cardsBorrowed-money payment tools
- debt consolidationCombining multiple balances owed
quick cash · APR · repayment terms · borrower · principal amount · loan agreements · banks · credit score · bad credit · checking accounts · emergency funds · financial hardship · refinance · monthly · installments · collateral · lender · loan approval
- debtscredit card debt, car loan, student loan, bank loan, medical debt
- Consumer Creditcredit cards, credit score, credit scores, interest rates, revolving credit
- bankingbank, banks, ATM, ATMs, account
- loansloan, lend, borrow, auto loan, home loan
- funding sourcessavings, grants, donations, scholarships, fellowships
- lendingborrower, approval, lenders, bank loan, loan sharks
personal loansbusiness loans
Credit extended to enterprises
commercial loans · corporate loans · small business loans · business credit · government loans
personal loansmortgages
Loans secured by property
home loans · secured loans · auto loans · home equity loans · car financing
personal loansgifts
Items freely given
grants · savings · inheritance · earned income · equity investment