What is a personal reserve loan?

Answer A personal reserve loan, also known as a personal reserve account, is a loan typically attached to a checking account. Should you spend more money than you have in your account, your bank will cove... Read More »

Top Q&A For: What is a personal reserve loan

Can i put an extra loan payment to the principal of a personal loan?

On One Hand: Make Extra Payment To PrincipleUsually you can pay extra money on the principle of a personal loan. The extra payment will reduce the interest you pay over the life of the loan because... Read More »

Can I Put an Extra Loan Payment to the Principal of a Personal Loan?

You will have a minimum monthly payment amount on any personal loan. You must always repay at least this minimum amount, but you may choose to pay additional money to further reduce your principal-... Read More »

Does the Federal Reserve loan money to the U.S. government?

The Federal Reserve sells and redeems government securities such as savings bonds and Treasury bills, sets policy and regulates banks. President John F. Kennedy signed an executive order in 1963 th... Read More »

Is a payday loan a personal loan?

A payday loan, also referred to as a paycheck advance, is a personal loan. It is a short-term loan designed to help the borrower cover expenses in an urgent situation, until his next paycheck. Howe... Read More »