A personal loan is when a bank or other lender provides you with cash that is not secured against any asset such as your property. They are also known as unsecured loans.
Generally you can borrow more money than what you can get with a credit card.
Your personal loan repayments each month may be fixed. That means the amount you pay is going to be the same every month and that makes payments easier to budget.
You can also consolidate multiple debts into one personal loan which can perhaps reduce your monthly repayment costs.
In most cases the interest rate you pay on a personal loan is fixed.
You are often provided the choice on how long you will need to pay back the loan. However the length of the loan will effect the amount of interest you pay. The longer the loan the more interest you end up paying.