A signature personal loan is a loan that requires no collateral and whose amount usually ranges from $1000 to $2000. Signature Personal Loans are recommended for people who need some quick cash flow without having to tap into their savings. People who need to buy home appliances, pay for a vacation, or have unexpected repairs around the house fall into this category. They can go to their local bank and apply for a signature personal loan to take care of those bills. The advantage of a signature personal loan is you will not have to pay the lump sum back all at once – you can spread it out and pay it back anytime between 3 months up to a year depending on the lender or financial institution.