A personal loan is a powerful financial tool when you don't have cash. Unlike conventional loans, personal loans are not secured by collateral, meaning they do not require something of value - like a house or vehicle - to back the loan. Personal loan rates are usually competitive with other forms of financing and offer an alternative to credit cards or home equity loans when making a purchase. A personal loan is also a great solution when looking to consolidate debt. Personal loan rates offered are often less than the interest rates on your credit cards and the loan provides a fixed payment path to being debt free. Also most lenders do not penalize you for repaying early or making extra payments. The most popular uses for personal loans include home improvements, car financing, debt consolidation and covering medical expenses.
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**Your APR may differ based on loan purpose, amount, term, and your credit profile. Rate is quoted with AutoPay discount, which is only available when you select AutoPay prior to loan funding. Rates under the invoicing option are 0.50% higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice.
†You can fund your loan today if today is a banking business day, your application is approved, and you complete the following steps by 2:30 p.m. Eastern time: (1) review and electronically sign your loan agreement; (2) provide us with your funding preferences and relevant banking information; and (3) complete the final verification process.