personal loan

[ pur-suh-nl lohn ]

  1. a loan made for discretionary use typically to a person with a high credit score who is generally not asked to provide collateral to back up the loan. A personal loan may be used for almost any purpose, such as consolidating credit card debt, making home improvements, or making a major purchase. She got a personal loan so she could take time off from work and go on a round-the-world cruise.

Origin of personal loan

First recorded in 1850–55

Words Nearby personal loan Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2023

How to use personal loan in a sentence

  • I've fifteen thousand left from the sale of bonds and a personal loan I obtained from McDonnell.

    The Iron Furrow | George C. Shedd
  • She needn't regard the money he put up as in any sense a personal loan to her.

    The Real Adventure | Henry Kitchell Webster