How to Choose the Best Term Length for a Personal Loan

Best Term Length

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…

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6 Important Tips to Know When Finding a Personal Loan

personal loans

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…

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A Guide on What You Need to Know About Closed-End Credit

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…

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A 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…

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What 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…

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What 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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