Top 10 Personal Loans Lists

A personal loan is a type of unsecured loan that individuals can borrow from banks, credit unions, or online lenders. Unlike secured loans, personal loans do not require collateral. Borrowers receive a lump sum of money and agree to repay it, with interest, in fixed monthly installments over a specified period, typically ranging from one to seven years. Personal loans can be used for various purposes, such as consolidating debt, covering medical expenses, making home improvements, or funding major purchases. Interest rates and loan terms depend on the borrower’s credit score, income, and lender policies.