Help guide to 401(k) Loans vs Personal loans Borrowing bucks out of a 401(k) old-age package can serve as an alternative to taking out fully individual money. A 401(k) financing also have individuals having a lump sum of cash equivalent so you're able to an unsecured loan, and you may consumers can use their 401(k) loan to pay for prepared or unplanned expenditures. An optimum 401(k) financing out of $50,000 doesn't need individuals for good credit scores, while individuals with excellent borrowing will get be eligible for $100,100 consumer loan also offers. Personal loans and you may 401(k) fund for every single keeps the advantages and disadvantages. Less than we offer additional info regarding del