Where to Apply for a Personal Loan

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The best place to apply for a personal loan is at a credit union or a bank with which the borrower already has a relationship. Apply for a personal loan at a place where personal money is saved with help from a financial planner in this free video on personal loans and money management.

Part of the Video Series: Personal Loans & Financial Instruments
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Video Transcript

Hi, my name is Bill Rae. I'm with HBW of Florida, and I've been in the finance field for well over 20 years and helped many people with their financial problems. Today, we're going to talk about where to apply for a personal loan. Conventional wisdom would tell you that the best place to apply for a personal loan or any loan for that matter would be a credit union if you belong to one. Or apply and become a member of a credit union. Today, things are changing rapidly. So some of the best places to apply for personal loans would be do you have a relationship with a bank now? Where do you have your checking account? Where do you save your money? Where's your investment money at? These are all places that you should explore first. If you operate with a credit union, go to the credit union. If you have a good relationship with your bank, talk with them also. Many times, if your credit is good and you have a relationship with that institute, you can end up getting more favorable terms. So as in any instrument, please do your homework, understand what it is you're signing, read carefully, and at all times, seek outside counsel. My name is Bill Rae, and I'm helping you build wealth.

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