How to Choose the Best Term Length for a Personal Loan
Most people consider a personal loan a short-term financing option with the best term lengths ranging from a few months to a year. Borrowers use these flexible loans to finance home renovations, pay for medical expenditures, and even consolidate credit card debt. Choosing the best term length matters. But did you know there are also…
Read More6 Important Tips to Know When Finding a Personal Loan
Taking a personal loan requires a lot of research on your options. You can get loans from your bank or personal loans from online lenders. Online lenders in particular are more flexible when it comes to those with or without credit. Depending on the loan you are planning to get, you need to find one…
Read MoreA Guide on What You Need to Know About Closed-End Credit
There are many kinds of loans and types of credit available out there. Some are better than others, and some might not suit your needs. One type of loan that can help you achieve a good credit score image is closed-end credit. Closed-end credit is a type of credit or loan that is due in…
Read MorePersonal Loans 101: The Difference Between Interest Rate and APR
Loans are pretty complicated, especially for those taking out a personal loan for the first time. This is because you need to consider many terms and factors before you sign a loan agreement and start counting your cash. You should consider two factors when getting a personal loan: the annual percentage rate (APR) and the…
Read More4 Common Uses of a Personal Loan: What to Know
It’s not every day that you are equipped with financial resources. It’s a good thing if you can manage to get by daily, but that will not be the case when you need to settle a sudden and unexpected expense. This is when a personal loan comes into the picture. A personal loan is a…
Read MoreA Guide: When Is It Prudent to Get a Personal Loan
Being an adult requires a lot of balancing acts. Once we get our first job, we need to adjust our lifestyle to create an invisible demarcation line between work and our private lives. Once we move out of our parent’s home, we may need to cut back on our spending to avoid going beyond what…
Read MoreWhat Makes Payday Loans Different from Personal Loans?
A payday loan is a form of short-term borrowing, which is incredibly easy to apply for. They’re unsecured loans since they require no collateral. Lenders of this nature usually extend credit with high interest, using the borrower’s income as basis. The principal? A chunk off the borrower’s next paycheck. According to a 2012 report by…
Read MoreWhat You Need to Know About Long-Term Personal Loans
Personal loans are often seen as short-term. And for the most part, a lot of personal loans do have relatively short repayment periods. But sometimes, lenders will offer personal loans that cover numerous years. This is what you call a long-term personal loan. What Is a Long-Term Personal Loan? A long-term personal loan is a…
Read MorePersonal Loan Terms: 4 Ways to Choose the Best Length
A personal loan can be helpful if you need a big sum of money quickly. These loans provide a solution to tackle significant expenses while paying lower interest rates than most credit cards. They can be utilized for almost any purpose, from financing a honeymoon to paying for an appendectomy. A personal loan is paid…
Read MoreWhat Expenses Cannot Be Covered by Personal Loans?
Sometimes, you’ll have certain expenses that you won’t be able to pay in one go. Luckily, in most cases, you can use a personal loan to pay off these expenses. While personal loans can be used for almost anything, there are some exceptions. And it’s crucial to know these exceptions, so you won’t find yourself…
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