Different types of personal loans?
I recently heard there were different kinds and I am not entirely sure what this means. I always thought a personal loan was just that, and that is what separated it from other loans.
What are the different types of personal loans out there?
5 answers
by
wilton_von ,
3 years ago
Jerad covered the ones that I am knowledgeable on. I am sure there are other types within these categories but they are very specific to certain situations like college loans and medical loans.
by
lavinia ,
3 years ago
jerald: These are the ones I know of off the top of my head:Unsecured personal loansSecured personal loansFixed-rate loansVariable-rate loansDebt consolidation loansCo-sign loansPersonal line of creditThey each have their own rates and stipulations.
@jerald I only knew about a few of these. I had no idea there were this many different ones but I guess it makes sense since different loans deal with different levels of interest, guidelines, and credit scores.
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