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What Is A Personal Loan?

Savings Corner

Common reasons include paying off debt, financing a large purchase such as a vehicle or a boat, or covering the cost of a major expense like a wedding or a home renovation. Before taking on debt, use a personal loan repayment calculator to help budget.

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What Is A Home Equity Loan?

Savings Corner

Home equity loans are best used for five-figure renovation or repair projects — which can garner you a tax deduction on their interest — or to consolidate other debts. You also don’t have to host a wedding (go to the courthouse). This might make it easier for you to budget for and pay each month.

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