Personal Loans
What is a Personal Loan?
A personal loan is a type of loan that individuals can borrow from a lender to meet a specific loan purpose. The loan is typically paid over 3, 5 or 7 years. Personal loans are generally unsecured meaning they don’t need any collateral.
Personal loans are perfect for any unexpected expenses or need access to funds quickly for any personal financial needs.
What can I use a personal loan for?
- House Deposit
- Weddings
- Debt Consolidation
- Educational courses
- Landscaping
- Tax Debt
- Holidays
- Medical expenses
- Home Renovations
- House Deposit
- Weddings
And many more just ask me!
Personal Loan Features
Unsecured: Personal loans are typically unsecured, which means they do not require collateral. Unlike a home or car loan, where the lender can seize the property if you fail to repay the loan, personal loans are not tied to any specific asset.
Fixed Interest Rate: Most personal loans often come with a fixed interest rate, meaning the rate remains the same throughout the loan term. This allows you to know exactly how much you’ll pay in interest each month, making it easier to budget and plan your repayments.
Fixed Loan Term: Personal loans have a predetermined loan term which is determined by the customer. This ranges from one to seven years depending on your monthly budget.
Additional repayments: Most lenders will allow additional repayments to be made on top of your minimum repayments to be able to pay the loan off earlier than the original loan term. This can help you save on interest costs and become debt free sooner. Also most lender dont have early termination fees.
Flexible Loan Purposes: Personal loans can be used for a variety of reasons such as renovations to weddings to medical expenses. Any legal purposes will be considered by lenders.
DISCLAIMER STATEMENT
This page provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances. Subject to lenders terms and conditions, fees and charges and eligibility criteria apply.