Shutterstock
They are the fastest growing type of loan – and they could help save you money and improve your credit score.
Here’s what you need to know about personal loans and how they can benefit you.
What Is A Personal Loan?
A personal loan is an unsecured loan typically from $1,000 – $100,000 typically with a fixed interest rate that can be used to consolidate debt or make a large purchase. The term “unsecured” means you don’t have to put up any collateral.
Depending on your credit profile, you may be able to qualify for a low-interest rate personal loan and save money compared to a credit card. Interest rates on personal loans are often much lower than the interest rates on credi…
Read the full article at: https://www.forbes.com/sites/zackfriedman/2018/08/07/personal-loan/