A personal loan is an amount of money that you can borrow to use for various purposes. Nowadays, it has become very easy to apply for a personal loan. You no longer have to visit the branch, rather can apply from the comfort of your homes. Personal loans have varied uses. For example, you can use a personal loan to consolidate debt, pay off home renovations, or plan a dream wedding. Personal loans can be offered through banks, credit unions, or online lenders. The borrowed money must be repaid over time, usually with interest. Some lenders may also charge a fee online apply for personal loans.