However, most personal loans come with an origination fee that could range from 1% to 10% of the loan amount.
Personal loans come with a choice of repayment terms that may range from 3 to 10 years.
If you want to pay off your personal loan ahead of schedule, most don’t charge you a prepayment penalty.
Free Resource: Request an invitation to join Dominate Your Debt—Laura’s private Facebook Group A personal loan is money you borrow to pay for just about anything, such as your wedding, a dream vacation, a new computer, medical bills, or to consolidate other debts.
There are two main types of personal loans: secured and unsecured.
See also: 5 Ways to Get a Loan With Bad Credit You can get a personal loan at most banks, credit unions, and a variety of online lending companies.