Broadly defined, a personal loan is a type of installment loan, which means that it is repaid over time with a set number of scheduled payments. It is also a form of loan that can be utilized for practically any purpose whatsoever. This can be beneficial in any scenario where additional funds are required. We do not charge any fee or cost to submit a loan request on CrediReady. The APR on a personal loan from our network of lenders and lending partners varies, with many providers offering rates from 5.99% to 35.99% and loan durations between 90 days and 72 months.