personal loan

American  

[pur-suh-nl lohn] / ˈpɜr sə nl ˈloʊn /

noun

Finance.

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.

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Etymology

Origin of personal loan

First recorded in 1850–55

Example Sentences

See Examples For:

personal loan

Another senior officer, the head of the police's organised crime unit Maj-Gen Richard Shibiri, admitted to receiving a "personal loan" of $4,000 from Matlala which he repaid.

From BBC ● Jul. 14, 2026

For years, Burkle served as a mentor and a friend, even extending Anderson a personal loan to purchase his home, the complaint alleges.

From Los Angeles Times ● Mar. 6, 2026

For Um’s client who took out the personal loan, this change in behavior is what really made a difference toward getting their finances back on track.

From MarketWatch ● Feb. 26, 2026

These changes helped them save thousands of dollars in credit-card interest over several years — and they ultimately paid off the personal loan early.

From MarketWatch ● Feb. 26, 2026

Howard bailed him out with a reported $190,000 personal loan.

From "Seabiscuit: An American Legend" by Laura Hillenbrand