personal loan


: a loan that is made by a bank to someone for a personal need

Example Sentences

Recent Examples on the Web Another option is to get a small personal loan, which would add an installment loan back to your credit mix. Liz Weston, oregonlive, 9 Apr. 2023 In 2020, Pasco, 29, launched his personal loan company to lend cash to Millennials with low or no credit scores. Steven Bertoni, Forbes, 6 Mar. 2023 The average personal loan rate was 10.82% as of March 22, according to Bankrate. Jeanne Sahadi, CNN, 25 Mar. 2023 The average personal loan rate was 10.71% as of March 8, according to Bankrate. Jeanne Sahadi, CNN, 22 Mar. 2023 Another option is to consolidate those debts by getting a personal loan, using the funds to pay off the credit card balances and then repay the one loan. Khristopher J. Brooks, CBS News, 27 Feb. 2023 Try for a personal loan at a lower rate than your cards charge. Terry Savage, Orlando Sentinel, 22 Feb. 2023 See More

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'personal loan.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

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Cite this Entry

“Personal loan.” Dictionary, Merriam-Webster, Accessed 29 May. 2023.

Last Updated: - Updated example sentences
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