Question

What is a personal loan?

Answer 1

Answer:

A personal loan is money borrowed from a bank, credit union or online lender that you pay back in fixed monthly payments, or installments, typically over two to seven years. ... Most personal loans are “unsecured” — not backed by collateral.

Explanation:

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Answer 2

A personal loan is a type of unsecured loan and helps you meet your current financial needs .