Personal Loans

Personal loans are unsecured loans that individuals can borrow from banks, credit unions, or online lenders for various purposes, such as consolidating debt, financing a purchase, or covering unexpected expenses. Unlike secured loans, they don't require collateral, meaning you don't have to put up assets like a car or home as security. Borrowers generally receive a fixed amount of money with a set repayment term and interest rate. Monthly payments are typically made over several months or years until the loan is fully repaid. They can be a useful financial tool but should be used responsibly to avoid debt issues.