Personal loans explained

Love is priceless, but tying the knot comes with a substantial price tag. According to a report by Zola, the average wedding costs $33,000 in 2024. And not all couples are dutifully saving up for this expense, either. One U.S. ...

Borrowers with good credit seeking personal loans during the past seven days prequalified for rates that were lower for 3-year terms and higher for 5-year loans when compared to fixed-rate loans for the seven days before.For bo...

Many Americans struggle to afford medical care, with or without insurance. According to a study from KFF, Americans owe a collective $220 billion in medical debt, with approximately 20 million people contributing to this total....

A longer loan term typically has smaller monthly payments than a loan with a shorter term. For example, a $10,000 personal loan with an 18% APR and a two-year repayment term would cost around $500 per month. The same loan paid ...

Personal loans can give you the money you need to complete home improvements, buy a new vehicle, pay off debt, and more. But if you're one of the 32% of adults who don't have enough to cover an unexpected or emergency expense, ...

The best small personal loans let you borrow the right amount of funds at an affordable APR and pay off your debt over a reasonable period. In contrast, predatory small loans in certain states can cost well over 300% APR and gi...

An estimated 37% of Americans can’t afford a surprise expense over $400, according to recent research by Empower. If you’re one of them, short-term personal loans may help you bridge the gap. While the shorter terms often mean ...

If you have a FICO score of 800 or above—and 21.9% of Americans do, Experian reports—you're in luck if you're looking for a personal loan. Lenders typically reserve their lowest rates, highest loan amounts, and most favorable t...

Some lenders charge an origination fee when you go to borrow a personal loan, which can reduce the overall amount you receive. In addition to these fees, interest rates are continuing to rise. According to Credible personal loa...