A personal loan can be very useful, providing the money that you need for bills, projects, or large purchases when you need it. Unfortunately, many people don't completely understand what a personal loan is or how to apply for one.

The information below is provided to help you find the personal loan you need, as well as assist you in finding the best interest rates and loan terms for a personal loan.

Defining the loan

A personal loan is one of several types of loans that are granted to individuals to cover expenses, repay debts, or provide financing for larger purchases. These loans can vary from lender to lender, and may be either secured or unsecured