The right personal loan for you depends on what you need it for, and how you are planning to repay it. Personal instalment loans are the most popular option because you repay the loan through a fixed amount over a longer period of time (anywhere between 1 - 5 years). If you need several short-term loans for unexpected expenses, consider a credit line. Like a credit card, a credit line lets you borrow cash and repay only what you loan, but at a much lower interest rate. Finally, if you have existing debt you want to get rid of, a balance transfer lets you pay off unsecured loans at 0% interest for a period of 3 - 12 months. You must make sure to pay off the loan completely during this time; otherwise, you get charged a very high interest rate.