Additionally, using a personal loan for a prohibited purpose can be considered bank fraud, which carries legal penalties. Under federal law, bank fraud violations can result in fines of up to $1 ...

Excellent credit required for lowest rate. Rates vary by loan purpose. There isn't really a hard-and-fast rule about what the loan must be used for, but you'll usually have to explain the purpose ...

This type of loan is secured by the purchased vehicle itself, and failure to repay could lead to repossession by the lender. Their primary purpose is to spread out the cost of a vehicle ...

Unsecured personal loans are general-purpose loans that don’t require you to put any collateral – like your home, savings account or car – at risk if you don’t make your payments.

Best good-credit loans for debt consolidation Reach Financial provides personal loans solely for the purpose of consolidating credit cards or other debts. If approved for a loan, Reach pays your ...

Kiah Treece is a small business owner and personal finance expert with experience in loans, business and personal finance, insurance and real estate. Her focus is on demystifying debt to help ...

Jerry is a freelance contributor to Newsweek’s personal finance team. He primarily covers loans, including personal loans, home equity loans and student loans. When he isn’t writing ...

Terms apply. *AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Excellent credit required for lowest rate. Rates vary by loan purpose.

Holly Johnson is a freelance contributor to Newsweek’s personal finance team with a focus on credit cards and rewards, financial products and travel. Johnson has spent more than a decade ...

If you’re strapped for some major cash, you might want to consider the financial services of a credit union, specifically its personal loan options. Personal loans can be a great way to consolidate ...