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Personal Loans in Oregon

A personal loan in Oregon is suitable in cases where the money is needed for larger purposes and immediately. A credit card is suitable if it is important for you to regularly have additional funds available if necessary and you do not want to pay interest if the money has not been used.

Significant differences are not only in interest rates and monthly payments but also in the procedure for getting and repaying a loan and other conditions.

Despite the fact that personal loans and credit cards with a credit limit have quite similar options, there are several significant differences between them. Usually, we look at interest rates, the size of monthly payments and other similar parameters, but sometimes the crucial question is: “Will I be able to get money today?” Many people also want to feel safe, for example, when going on a trip: it is important for them that they can afford whatever their heart desires.

Current rates

Loan type APR (Low) APR (High) Repayment terms
Personal Loan 8.24% 17.99% 12-36 months
Personal Loan 13.49% 17.99% 37-60 months
Payday Advance 18.00% 18.00% Up to 30 Days
Personal Line of Credit (PLOC) 7.00% 15.75% $25 or 2.50% of the total balance, whichever is greater

Fast personal loans for big purposes

The most important advantages of a personal loan are ease of online application, fast response and funding to a bank account. This is especially important in situations where one cannot wait even a minute – for example, when a person suddenly falls ill or comes across a sale. No collateral or down payment is required for a personal loan: your salary will serve as the only security.

A personal loan is best suited for buying a used car. For example, if a car is more than ten years old and costs $5,000, then it cannot be leased, so a personal loan is often the only solution.

What is the purpose of a personal loan?

  • To buy a car;
  • To make home renovation and improvement;
  • To pay for medical services;
  • To pay for a child’s education;
  • To travel;
  • To undertake a professional course;
  • To pay for weddings and family functions;
  • To refinance credit card dues;
  • To consolidate ongoing loans.

When is a personal loan more suitable?

  • If you need money quickly – within one or two days;
  • If you immediately require a large amount of money for a specific goal;
  • If you do not want to use a credit card.