Understanding Personal Loans
Personal loans are versatile financial tools that can be used for almost anything. They are typically unsecured, meaning they don't require collateral like a house or car.
Interest Rates
Personal loan rates can vary significantly based on your credit score, ranging from around 6% to over 30%.
Loan Terms
Terms usually range from 1 to 7 years. Shorter terms have higher monthly payments but lower total interest costs.