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?

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May 14, 2020 12:05 AM


These are the ones I know of off the top of my head:

Unsecured personal loans

Secured personal loans

Fixed-rate loans

Variable-rate loans

Debt consolidation loans

Co-sign loans

Personal line of credit

They each have their own rates and stipulations.

May 16, 2020 1:00 AM


I only ever had one personal loan and I couldn't even tell you what kind it was. I just know that the interest increased the longer I had the debt so I signed on for a bad personal loan to say the least.

May 17, 2020 9:07 PM