Find Your Perfect Personal Loan

Compare offers from multiple lenders in minutes. Get matched with the best rates for your situation.

Get Started

Tell us what you need and we'll match you with the best lenders

$500
$500 $100,000

Checking your rate won't affect your credit score

We work with trusted lenders

How it works

1

We ask you questions

to understand your unique loan needs.

2

We provide you

with tailored offers from top lenders.

3

You select a loan

based on rate, monthly payment and terms.

Explore Freely

We promise that our loan matching process will not affect your credit score. That way, you can securely compare loan offers on our site without ever breaking a sweat.

Personal Loans: A Complete Guide

A personal loan can be a smart, predictable way to get the money you need. This guide breaks down how personal loans work, answers common questions, and offers tips for choosing the right one.

What is a personal loan?

💡 Quick Definition

A personal loan is money you borrow from an online lender, bank, or credit union, which you repay in fixed monthly installments. Most personal loans are unsecured, meaning you don't need to put up collateral like your home or car.

$500-$50K
Typical Loan Range
3-7 years
Common Loan Terms
5%-36%
APR Range

Key insights: Personal loans

💰

Upfront funds

A personal loan gives you money upfront, which you repay in fixed monthly payments.

📊

No collateral needed

You don't need to put up your house or car, but your credit and income affect your rate.

🎯

Flexible use

You can use the loan for almost anything, like paying off debt, home repairs, or emergencies.

📋

Understand the terms

Make sure you understand the terms and fees, and only take a loan if you can afford the payments.

What can I use a personal loan for?

Personal loans are incredibly versatile. Here are the most popular uses:

💳

Debt Consolidation

Roll multiple debts into one payment with a potentially lower rate.

🔨

Home Improvements

Upgrade your kitchen, bathroom, or backyard without tapping home equity.

🏥

Medical Bills

Cover unexpected procedures or ongoing care expenses.

🛒

Major Purchases

Buy appliances, furniture, or electronics without draining savings.

💒

Life Events

Fund weddings, vacations, or moving costs.

🚨

Emergencies

Handle surprise expenses quickly and affordably.

How much can I borrow with a personal loan?

📊 Loan Amount Ranges

Most personal loans range from $1,000 to $50,000, though some lenders may offer up to $100,000 for highly qualified borrowers.

How much you qualify for depends on:

  • Your credit score
  • Annual income
  • Existing debt levels
  • Purpose of the loan
  • Lender's specific requirements
👉 Pro tip: Getting prequalified lets you see your potential loan amount without affecting your credit score.

Personal Loan vs. Credit Card

Not sure which is right for you? Here's a quick comparison:

Feature
Personal Loan
💰 Interest Rate
5%-36% APR (typically lower)
📅 Payment Structure
Fixed monthly payments
⏱️ Funding Speed
1-7 business days
🎯 Best For
Large one-time expenses
🔒 Collateral
Usually not required

Pros and cons of getting a personal loan

✓ Pros

  • ⚡ Fast funding - Some online lenders can send you the money the same day or next day
  • 📊 Predictable payments - Fixed monthly payments make it easier to plan your budget
  • 🏠 No collateral needed - You don't have to put up your house or car to get approved

✗ Cons

  • 📈 Rates can be high - Especially if your credit score isn't strong
  • 🔍 Credit check required - Applying can cause a small dip in your credit score
  • ⚠️ Monthly payments are a must - If you miss one, it could hurt your credit and lead to fees

⚠️ Remember

A personal loan is still money you have to pay back. Make sure the monthly payment fits your budget, and only borrow what you need.

Frequently Asked Questions

What is a personal loan interest rate? +
The interest rate is the cost of borrowing money, expressed as a percentage. Personal loan rates typically range from 4.95% to 35.95% APR, depending on your credit score, income, and other factors. A lower rate means you'll pay less in interest over the life of the loan.
What can I use a personal loan for? +
Personal loans are versatile and can be used for debt consolidation, home improvements, medical expenses, wedding costs, moving expenses, or other major purchases. However, they typically cannot be used for illegal activities, gambling, or educational expenses (use student loans instead).
How much can I borrow with a personal loan? +
Through EasyFinance, you can typically borrow between $500 and $5,000. The exact amount you qualify for depends on your credit score, income, debt-to-income ratio, and the lender's requirements. Some lenders may offer higher amounts for well-qualified borrowers.
Will applying for a personal loan hurt my credit? +
Checking your rate through our platform uses a soft credit inquiry, which does not affect your credit score. However, if you proceed with a lender and formally apply, they will perform a hard credit inquiry, which may temporarily lower your score by a few points. Multiple inquiries within a short period are typically counted as one for scoring purposes.
How quickly can I get the money? +
Once approved, many lenders can fund your loan as soon as the next business day. The exact timing depends on the lender, when you complete your application, and how quickly you provide any required documentation. Some lenders offer same-day funding for qualified applicants.
Are there any fees with personal loans? +
Yes, some personal loans come with fees. The most common is an origination fee, a one-time charge for setting up the loan, usually 1%-5% of the loan amount.

Other possible fees include:
  • Late fees if you miss a payment
  • Prepayment penalties (though many lenders don't charge this)

👉 Bottom line: Not all loans have fees, but many do. Always read the details so you know what you're paying for.
What documents do I need to apply? +
Lenders usually ask for documents that confirm who you are and that you can repay the loan:

  • 🪪 ID - like a driver's license or passport
  • 📄 Proof of income - pay stubs, bank statements, or tax returns
  • 🏠 Proof of address - a utility bill, lease, or something official with your name and address

Ready to take control of your finances?

Finding the right personal loan can feel overwhelming, so many lenders, terms, and options. But you've already taken the first step.

Now it's simple:

📝 Scroll up, enter the amount you need, and get matched with personalized loan offers—in under 2 minutes!
START NOW ↑

Ready to take control of your finances?

Get matched with personalized loan offers in minutes

Get Started Now