personal loan

Definition

An amount given to an individual to use for personal benefit that must be paid off at a specified time.

Use personal loan in a sentence

You should only consider giving out a personal loan to someone that you fully trust to pay you back no matter what.

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I had so many things wrong with my vehicle that, even to fix them myself, I would have to take out a personal loan just for parts and tools.

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Anita had decided that her need to travel was strong enough that she would take out a personal loan in order to finance her airfare and accommodations.

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customer information file (CIF) consumer bank