Personal loans have become increasingly available to those in need of extra cash. But if you’ve never used one, you may wonder where to find the best options.

Of course, it’s best to question whether a personal loan is a good idea at all. They can be smart when they allow you to pay off existing debt at a lower cost. For instance, consolidating multiple card balances into one personal loan with a lower rate is wise.

Less wise is using a personal loan for something discretionary, like a big vacation, or a more lavish wedding than you can afford. Though rates on personal loans are often lower than credit cards, they can still be hefty, and using a personal loan to spend more than your budget can handle could land you in a cycle of debt.

If you decide a personal loan is indeed smart or necessary for your situation, one of the first places to look is online. Personal loans from online lenders have the advantage of being simple and quick. But be wary of the offered rates, as some are quite high.

It’s useful to compare what you find online with what banks and credit unions are offering. The bank you already use is a good place to look, as they may offer better rates to existing customers. And the rates on bank loans tend to be competitive for those with good credit.

Credit unions also offer some of the best rates, and can be particularly competitive for those with less than stellar credit. You’ll need to be a member of the credit union, but joining is often fast and simple.

The bottom line, as usual, is that it’s important to do your homework comparing the rates and terms available from a variety of lenders.