my411 loans reviews

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An emergency loan is a personal loan you get to cover an urgent expense. Emergency loans are often unsecured, meaning the lender uses your financial information, including credit, income and other debts, to decide whether to offer you a loan and at what interest rate.
Personal emergency loans are installment loans, meaning you receive the money in a lump sum and repay it in monthly installments. Repayment terms are from two to seven years. These loans have fixed interest rates so your monthly payment doesn’t change.
Most reputable lenders report loan payments to the three major credit bureaus, so on-time payments build your credit, while missed payments can hurt it.
Emergency loan rates, fees and terms
Emergency loans have annual percentage rates from about 6% to 36%, amounts from $1,000 to $100,000 and repayment terms from two to seven years. Lenders typically have minimum credit score and maximum debt-to-income ratio requirements for personal loans.
The best emergency lenders can approve your application and fund a loan within a day or two. Some offer secured, co-signed or joint loans, which may be easier to qualify for.
Even in an emergency, taking time to compare personal loans and potentially cheaper options can save you money and help you avoid harmful lenders that can damage your credit and finances.