A personal loan is a convenient way to borrow a specific amount of money to take care of your personal needs, family needs or simply to realise a lifelong dream. However, before you apply for a personal loan, make sure you investigate the best interest rates and terms.
Afterwards, examine your budget to determine whether you can accommodate the monthly payments without falling short at the end of the month and that you will be able to pay on time. Not sure what you can use a personal loan for or what types of personal loans are available?
Here are 5 ways that you could use a personal loan:
- Debt consolidation: The most common reason people take out a personal loan is to consolidate debt into one single monthly fixed payment instead of paying multiple bills. Debt consolidation has proven to be an effective way of managing your finances and increasing the cash flow. Contact Iemas to find out how to apply for a consolidation loan: 0861 043 627.
- Educational loan: Paying for your or your children’s education is expensive. This is where an educational loan comes in handy. Remember that Iemas offers a GradUcare educational loan at an affordable interest rate. Find out more http://bit.ly/2B04KPq
- Home renovations: Perhaps you want to extend your home or have flood damage that needs to be taken care of urgently. Iemas offers a Housing Solution product that you can use to repair or renovate your home. In addition, we have a bond origination service that will assist you in finding the best bond at the best price. Find out more: http://bit.ly/2SwiE64
- Emergency Loan: We know that when you need cash in an emergency, you require help right away. Therefore, we offer emergency loans for when you need it most. Find out more: http://bit.ly/2tbqVxU.
- Wedding celebration: Planning a wedding can be stressful and expensive. A personal loan could help you to celebrate with the wedding of your dreams. Contact us to find out how we can help you turn your dreams into a reality visit www.iemas.co.za or contact us on 0861 043 627.
Read related blog here: What you need to know about personal loans
Adapted from: https://www.experian.com/blogs/ask-experian/what-can-a-personal-loan-be-used-for/