Personal Loans
Learn more about how personal loans work & what you can use them for, see our picks for the best personal loan lenders, and read reviews of the top lenders in the industry.
Featured post
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.
- SoFi Personal Loans Review
- LightStream Personal Loans Review
- Upgrade Personal Loans Review
- Upstart Personal Loans Review
- List of Personal Loan Companies
All personal loan articles
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Does the Reason for Your Personal Loan Matter?
When you take out a personal loan, the lender will typically ask you how you intend to use the funds. It does this for many reasons, most of which revolve…
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How to Choose the Best 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 each individual’s needs, optimizing interest expenses and…
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Should You Get a Personal Loan to Start Your Small Business or Startup? Pros and Cons
Taking out a personal loan to start a business can provide the financing you need to get your startup off the ground. You can often borrow up to $100,000 with…
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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 rates, and default consequences. The goal of…
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What Are the Tax Implications With Personal Loans?
A personal loan can cover many costs, including home improvements, medical bills, and credit card debt consolidation. Most lenders have few restrictions on personal loan use, which makes them a…
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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 prepayment penalty, either as a percentage of…
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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 history). Keep reading to learn about signature…
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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 a serious financial hardship. In particular, coverage…
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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 the loan. Total interest charges—how much interest…
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Should You Use Personal Loans for Rent?
Borrowers can use personal loans for nearly any expense, including rent. As rent prices continue to surge, you might consider a personal loan to cover the cost of rent, especially…