In a nutshell, it’s easy funding for life’s expenses. You borrow an approved amount of money and pay it back over a set period of time. With fixed interest rates and scheduled payments, personal loans are designed to fit into your budget with a predictable repayment plan.
You can think of a personal loan as an installment loan. You can take out a loan for a certain number of months and then pay back the original amount plus interest in monthly installments. When you’ve made all your payments according to your signed agreement, your account will be finished. Of course, if the need arises for more money…
You may qualify for a lower rate and/or a higher loan amount if you are approved for a secured loan. Secured Loans A secured loan means you are pledging something of value as collateral to your loan to ensure that the loan will be repaid according to the loan’s terms and conditions. Assets such as cars can be used as…