Personal loans first-timer's guide: 7 questions to ask

As you explore all your options for personal financing, here are some important questions to consider.

Tags: Goals, Interest rate, Loans, Personal loans, Planning
Published: January 08, 2020

Many loans seem pretty self-explanatory based on their titles. It’s clear, for instance, that an auto loan will help you get a car. Or that a student loan goes to fund education. Mortgages finance houses, business loans bankroll business ventures, and so on.

By comparison, the term “personal loan” doesn’t reveal much about how this type of financing can help reach your goals. As it happens, you can put the money from a personal loan toward just about anything you wish. And, if the lender is satisfied with your income information, you can often receive the loan funds in your account within a week or less.

Ask yourself these questions during your personal loan discovery process:

 

 

Are you looking for fixed rates and a loan that doesn’t require collateral? Explore a Personal Loan and take steps toward your financial goals today.



Sources:

1. https://www.federalreserve.gov/releases/g19/current/