When it comes to personal loans, there are a lot of options to choose from. But what is the “typical” loan? And what are the top options available?
How many months is a typical personal loan?
One kind of installment loan is the personal loan. This implies that over the course of the loan, which normally lasts between 12 and 84 months, you borrow a set amount of money and pay it back with interest in monthly installments. Your account is canceled once you have repaid your loan in full.
How much is a typical personal loan?
Around $1,000 to $100,000