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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:
How to Pay Off a Personal Loan Early
Many individuals seek ways to pay off their personal loans early to save on interest, improve their debt-to-income ratio (DTI), or achieve financial...
Income-Based Personal Loans
Lenders that offer income-based personal loans focus more on your income than your credit score. This option might be an excellent choice if...
How to Get Self-Employed Personal Loans Without Hassle
When you’re self-employed, applying for a personal loan can be more challenging than when you...
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...
Loans for Business: The Best Options and How They Compare to Alternatives
Personal loans can be a fast and flexible way to finance your business, especially if...
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...