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See our editorial team’s picks for the best personal loans.
How personal loans work
Personal loans don’t often seem complicated, but you should understand several specific terms before you apply for one.
Personal loan uses
You can use personal loans for almost anything, including paying off debt and home improvements.
Personal loans by credit range
Your credit score is critical in determining eligibility for a personal loan. Before applying, check your credit score to determine whether your credit is excellent, good, fair, or poor. Compare companies that lend to borrowers in your credit range to boost your chances of approval.
Personal loan reviews
If you’re considering applying for a personal loan through a specific company, you should understand how that company operates and the repayment terms.
Latest on personal loans:
Self-Employed Personal Loans
Being self-employed can complicate your plans if you’re trying to get approved for a personal loan. Most lenders want proof of steady income...
Does the Reason for Your Personal Loan Matter?
When you take out a personal loan, the lender will typically ask you how you...
How to Choose a Personal Loan Term Length
Loan repayment terms can range from short to long, offering flexibility to match borrowers’ financial needs. This allows for financial strategies tailored to...
Personal Loans for Business
Personal loans are often used for personal expenses, such as home renovations and debt consolidation. But in many cases, you can also put...
Promissory Note for Personal Loan Explained
Understanding promissory notes is vital if you plan to lend or borrow money. They detail important personal loan terms, including repayment schedules, interest...
What Are the Tax Implications With Personal Loans?
A personal loan can cover many costs, including home improvements, medical bills, and credit card...
Personal Loans With No Prepayment Penalty
Loan prepayment is when a borrower pays off an installment loan ahead of the schedule set by the lender. Some lenders charge a...
Signature Personal Loans
A signature loan is an unsecured personal loan, meaning no collateral is required, only your John Hancock (plus a strong income and credit...
Personal Loan Insurance
Personal loan insurance is a type of credit insurance that offers financial protection in the event that you can’t make payments due to...
How to Find the Cheapest Personal Loan
Personal loans offer maximum flexibility, but borrowing money costs money. The interest rate, loan terms, and fees impact how much you pay for...