What is a personal loan Come here, thanks to this blog, what a personal loan is. Because a personal loan is a consumer credit whereby the lender deposits the borrowed money directly into your bank account. Every month you pay a fixed amount of money in which the interest and repayment is processed. Characteristic of the personal loan is that the interest rate and term are fixed. You know in advance exactly when you have repaid the loan, but you can also calculate in precision how much the loan will cost you in total. Unlike with the revolving credit,…