 TITLE: The Difference Between a Personal Loan and a Line of Credit CONTENT: Repaying the Money You Borrowed\n-------------------------------\nIn addition to fixed interest rates, personal loans generally feature a fixed payment amount as well. This means that the size of your monthly payment won't change while you're repaying your loan. Fixed payments can make budgeting simpler. It's easy to plan your monthly expenses when you know the exact amount you're expected to pay on your personal loan.\nYour monthly payments on a line of credit can vary widely from month to month and year to year. This happens because your monthly payment will be based on how much you owe along with the current interest rate on your account. (Remember, lines of credit feature variable interest rates, which are subject to change.) END