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.
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2023
How to use personal loan in a sentence
One is a point-of-sale loan, which is essentially a personal loan with payments spread over months or years.Klarna’s CEO says the company outgrew its New York office before it could use it | John Detrixhe | May 18, 2021 | Quartz
Grab Financial offers drivers micro-insurance in Malaysia and personal loans in the Philippines.
With your permission, we’re going to give you the power of that data so you can get access to the best financial products that are right for you at the lowest rates—credit cards, personal loans, home loans, auto loans, home and auto insurance.Intuit’s CEO on the $7.1 billion Credit Karma acquisition, reorienting toward A.I., and reskilling workers | Geoffrey Colvin | December 22, 2020 | Fortune
“Due to a technical error, some personal loan customers were incorrectly charged,” American Express said in a statement.JPMorgan Chase Bank Wrongly Charged 170,000 Customers Overdraft Fees. Federal Regulators Refused to Penalize It. | by Patrick Rucker, The Capitol Forum | December 14, 2020 | ProPublica