BB&T is one of the top national banks in the US that most people will naturally consider when looking for a personal loan. The bank offers a wide variety of personal loans which can help people with different needs. At BB&T the loans do not require collateral but for you to get an unsecured personal loan then your credit score must be strong.
If you do not have a strong credit score (usually anywhere above 700) then you can take a secured BB&T Personal loan. This means that you will have to put up something as collateral. At BB&T they accept bonds, brokerage accounts, CD accounts, mutual funds, life insurance, savings and property.
With secured BB&T personal loans, your property is at risk if you are to default on your loan. If you are unable to pay, the bank will sell your property to recoup their money. Secured loans are therefore risky for the borrower. With unsecured BB&T personal loans, there is nothing you have put forward as collateral and therefore the loan is a little less risky for you.
IF you do not have a good credit rating but have a property you can put as collateral, then a secured BB&T personal loan can work well for you. However, you should ensure that you stick to the terms of the loan making your payments religiously when required. If you keep making payments as required your credit score will gradually start to improve.
BB&T also offers lines of credit for those who qualify. Again you can get an unsecured or secured line of credit. With a line of credit you do not get a chunk of money like in a traditional loan. Rather you are able to borrow money when you need it. This also means that you will only be repaying for the money that you have already put to use. A line of credit is better when you want to make payments for school fees, medical fees and other such things that are paid for periodically.
With BB&T personal loans you can also apply for debt consolidation. This is where the bank puts all the debts you owe into one, gives you one loan to pay off all the small debts and then you are left servicing one loan. This simplifies things since you will only be required to make one single payment at the end of the month. It also saves money by reducing the interest rates.
With the BB&T personal loan calculator you can quickly be able to calculate how much money you need to consolidate and pay off your loans at a go. It will even calculate the savings you will make every month.