I'm looking for a NLT Bible which would have explanations of each verse? I would like to do a deeper study and don't want to end up misinterpreting some of those verses. Thanks.
Explanations of the Bible are called commentaries, and there are lots of them available. Some commentaries are focused on a specific book or section of the Bible, and some comprehensive commentaries attempt to cover the whole Bible.
Of course, these commentaries are written by people, and as such the explanations are from the theological viewpoint of whoever wrote it. You can select commentaries based on your preferred denomination, or you can read multiple commentaries and learn multiple views on the scripture.
Study Bibles are Bibles with commentary built-in. Usually these include notes at the bottom of each page with commentary on whatever verses are on that page. A study Bible can be very useful for getting a quick explanation of a verse that is giving you trouble. But again, this commentary is written by a person, so it is not infallible and contains a denominational bias, so keep that in mind as you read, and consult other commentaries as part of your study.