Personal Loans

By: Thomas Lonsdale

Personal loans are multipurpose loans that can be used to meet various needs.
Personal loans can pay for top end luxuries like a holiday on the French Riviera, a boat or a fancy car as well as more mundane things like refinancing your debt or paying your bills. Some personal loans are used for specific purposes like college education or buying a home. Personal loans are also taken to fund events like marriages and parties. Health and accidents are another reason why people decide to take a personal loan.

As the borrower does not have to specify the reason for taking a personal loan, he or she can use it almost anyway they want.

Loans Available Today
Some types of personal loans available in the market are


  • Secured loans - these loans are useful to those who have property that can be mortgaged.

  • Unsecured loans - used by tenants, students and others who have no collateral to offer.

  • Debt consolidation loans - for people who are looking to better their credit rating by clearing their debt.

  • Bad credit loans - Taken by people with a low FICO score who have been refused other types of loans.


The interest rates of personal loans differ according to the amount borrowed, repayment period, borrower's credit rating and value of the property mortgaged, if any.

Personal Loans
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 

» More on Personal Loans