Calculate your monthly loan payments and total interest
Personal loans provide a lump sum you repay in fixed monthly installments over an agreed term (usually 1-7 years). Interest rates are typically fixed, so payments stay the same.
Good credit scores get better rates - often 3-7% APR
Unsecured loans don't require collateral but have higher rates (3-12%). Secured loans use your home/car as security, offering lower rates but risking repossession if you don't pay.