Learn About Personal Loans

Personal Loan Term Glossary

Personal loan terms are important to understand when you consider applying for a loan. If you decide to take that loan, you’re likely using it for an important purpose in your life. And you’re making a commitment to repay the amount in a specific period of time. You don’t want something in the details to trip up your plans after the fact.

Understanding these eight key terms will guide you to the personal loan that may best fit your needs.

With a solid understanding of personal loan terms, you can read and analyze with more clarity to determine what loan terms are right for you. Knowing these terms may help you get just what you want out of a personal loan, without surprises.

If you’re ready to move forward, be sure to read through our checklist on everything you need to apply for a personal loan.

 

Resources

  1. Usa.gov/credit
  2. Usa.gov/credit
  3. Consumer.ftc.gov/articles/0152-credit-scores
  4. Consumerfinance.gov/askcfpb/309/what-is-a-credit-report.html
  5. Nerdwallet.com