Personal Loans

Vacations, Bill Consolidation and Everything in Between

Personal Loans Online

A personal loan or line of credit can be a huge benefit and serves a variety of purposes:

  • Take a Special Vacation
  • Bill Consolidation
  • Emergency Funds
  • Fund Major Purchases

We want to help you achieve your goals in life, which is why we take your personal situation and income into consideration when determining the best type of personal loan possible for your application. With manageable loans lasting up to 60 months, you’ll have time to enjoy your investments and purchases without excess stress.

 

Types of Personal Loans

Personal loans are can be broken down into two major groups:

  • Secured Personal Loan – A secured personal loan uses a source of collateral, such as a piece of property. A common example of a secured personal loan is in the purchase of a house or vehicle where the property being purchased, or another asset, is the collateral. A secured personal loan typically has a lower interest rate.
  • Unsecured Personal Loan – A credit card is an example of a common unsecured personal loan, where no collateral is used and there is no specified use for the funds, but the financial history of the borrower is taken into consideration. An unsecured personal loan typically has a higher interest rate than a secured personal loan.

Personal Lines of Credit

Very similar to a credit card, personal lines of credit allow you to draw down from a set amount and only charge interest on the amount you have withdrawn, rather than on the entire amount you’re able to withdraw. A line of credit is an unsecured personal loan, so collateral should not be needed, but you will likely see a higher interest rate. A line of credit is a great way to have flexible access to funds in emergencies. The main contrast between a regular personal loan and a line of credit is the fact that in a loan you get one lump sum and you pay interest immediately, versus having access to a set amount of money that you can draw from as needed. This makes a line of credit a great option for flexible access to funds during unexpected or emergency situations.

Savings & Certificate Secured Loans

Another great option to help build or rebuild credit is to use funds in your Four Points savings or certificate account as collateral for a secured personal loan. These loans offer very low interest rates compared to other types of personal loans and can be made quickly and easily.

Join Four Points and get a secured personal loan online on your terms, from the comfort of your car, couch or cubicle!

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