Share People apply for persona loans for different reasons. While others might take a loan to cover emergency expenses, moving costs, and home remodeling, applying for a personal loan is an excellent means of credit card debt consolidation. That lowers your monthly payment to different lenders. Technological advances in the financial sector have enabled some lenders to provide online personal loans. Others, such as brick-n-mortar financial institutions, require applicants to visit their physical premises in person to apply for loans. For example, bank loans. So, which one is better? Online Vs. In-Person Personal Loans The debate over whether or not one is better depends on what you value most. If you prefer a one-on-one application experience, heading to a physical bank is the best idea. However, if you need a fast loan without meeting the lender, an online loan might be the right option.