Here are some common Personal Loan questions
What is a personal loan?
A personal loan is money borrowed to meet basic expenses without putting down collateral. A list of common expenses is listed here. The interest rate you pay is based upon your credit score and you pay the money back in fixed installments.
How can I use a personal loan to consolidate credit card debt?
A personal loan allows you to consolidate multiple debts into one fixed, monthly payment. Plus, a personal loan with OKCU may give you a lower interest rate on your debt and help you pay it off faster.
Is it a secured loan?
No. A personal is an unsecured loan because it is obtained without the use of collateral.
How long does it take to receive funds?
You could receive your personal loan funds as quick as the same day you apply.
What is a payday loan?
A payday loan is a short-term loan that allows you to borrow funds from your next paycheck.