Refinancing • Advertorial

Low rates. No hidden fees. Personal loans made easy.

   By Sarah Daniels |

A personal loan is an amount of money you can borrow to use for a variety of purposes. 

Personal loans are loans that can cover a number of personal expenses. You can find personal loans through banks, credit unions, and online lenders. Personal loans can be secured, meaning you need collateral to borrow money, or unsecured, with no collateral needed . Personal loans can vary greatly when it comes to their interest rates, fees, amounts, and repayment terms.

A personal loan allows you to borrow money to pay for personal expenses and then repay those funds over time. Personal loans are a type of installment debt that allows you to obtain a lump sum of funding. For example, you might use a personal loan to cover:
  • Moving expenses
  • Debt consolidation
  • Medical bills
  • Wedding expenses
  • Home renovations or repairs
  • Funeral costs
  • Vacation costs
  • Unexpected expenses

These loans are different from other installment loans—such as student loans, car loans, and mortgage loans—that are used to fund specific expenses (i.e. education, vehicle purchase, and home purchase).

Discover in 2 minutes if a personal loans loan is right for you and we will also give you a free information !

Types of Personal Loans

Personal loans may be secured or unsecured . A secured personal loan is one that requires some type of collateral as a condition of borrowing. For instance, you may secure a personal loan with cash assets, such as a savings account or certificate of deposit (CD), or with a physical asset, such as your car or boat. If you default on the loan, the lender could keep your collateral to satisfy the debt.

Note: There are many more factors to consider when deciding how to take out a loan . I advise people looking to take out a loan to look at their ideal repayment time, preferred activity level and personal risk tolerance. .


An unsecured personal loan requires no collateral to borrow money. Banks, credit unions, and online lenders can offer both secured and unsecured personal loans to qualified borrowers. Banks generally consider the latter to be riskier than the former because there’s no collateral to collect. That can mean paying a higher interest rate for a personal loan. Learn more about the different strategies, here.

Here's How To See If You Qualify:

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Step 2: Once you enter your zip code and some basic info, you can learn how to refinance! It's really that easy!

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