 TITLE: What Can a Personal Loan Be Used For? CONTENT: How Personal Loans Work\n-----------------------\nPersonal loans are credit products, and many banks, credit unions and online lenders offer them. These loans are typically unsecured, which means you don't have to provide any collateral. All come with terms, including:\n*   The number of months or years you have to repay the loan\n*   The interest rate, which is what the lender charges you to finance the loan\n*   The monthly payment\nSome loans come with origination fees, which might be anywhere from 1% to 8% of the loan amount. The fee for a $5,000 loan, for example, could range from $50 to $400. The fees will be tacked on to the principal, and interest will be calculated on the total.\nOnce you apply for a personal loan, the lender will check your credit history and credit scores, and analyze your cash flow to determine whether you can handle the payments. If you're approved, the money may be available to you within minutes or days, depending on the lender.\n> Find the best personal loans in Experian CreditMatch™. END