A beginner loan, also known as a starter loan, is a type of loan designed for individuals who are new to borrowing money. Beginner loans typically have lower borrowing limits and more relaxed eligibility requirements than traditional loans, making them a good option for individuals with limited or no credit history. Some common types of beginner loans include: Secured credit cards. Secured credit cards require a deposit, which acts as collateral for the credit limit. These cards can help individuals establish credit and improve their credit scores. Personal loans. Some lenders offer personal loans specifically designed for individuals with limited credit history. These loans may have lower borrowing limits and higher interest rates than traditional loans, but can still be a good option for those who need to borrow money. Payday loans. Payday loans are short-term loans designed to be repaid on the borrower's next payday. These loans typically have high-interest rates and fees and should only be used as a last resort. Beginner loans can be a good option for individuals who need to establish credit or borrow money for the first time. However, it's essential to be cautious and only borrow what you can afford to repay. Before applying for a beginner loan, research and compare interest rates, fees, and repayment terms from multiple lenders to find the best loan for your needs.