The best personal loan period for you is usually the one that suits your needs. Factors to consider when applying for a personal loan include the interest rate, repayment term, and amount of money borrowed.

It can take anywhere from one to seven days to be approved for a personal loan. Few credit unions will share the approval and interest rates and number of months for the complete repayment instantly (within 1 to 2 hours). Applicants can reduce the likelihood of any delays in the approval process by making sure they provide accurate information when filling out the application form.