Typically, securing your loan grants you access to more money at a lower interest rate. With Fairstone, the maximum loan size on a secured personal loan is $50,000 (vs. $25,000 for an unsecured loan), with rates starting at 19.99% (vs. 26.99%). You also may be given access to a longer loan term, which can help you reduce your monthly payments. A secured personal loan is right for you if:
You want to borrow more money than you can with an unsecured personal loan
You want to reduce payment amounts to give your budget flexibility
You want access to a lender’s lowest interest rates