6 Ways Personal Loans Can Actually Help You

A personal loan is a great option when you need access to additional cash. These loans are different from a car, house or business loan as they are for any personal need, and are easily accessible.

You may feel anxious about having to borrow money, but a personal loan can in fact be beneficial for you in the long run.

1. No Risk to Your Assets

Most personal loans are unsecured meaning you don’t need to provide any collateral to get them. By choosing a personal unsecured loan over a standard bank loan, you ensure the safety of your assets if something should go wrong in the future.

2. Cheaper Long Term

A personal loan will have a fixed repayment schedule, often with a short duration. This means that you don’t have to face the prospect of watching interest accrue over time. When you apply for your personal loan you will know exactly how much interest you’ll be paying in total, and whilst the rate may be higher, the short period of borrowing can save you money in the long run.

3. Get Money Fast

The application system for unsecured personal loans is simple and quick – you can get approved in just a few hours and once your request is accepted your cash can be ready in a matter of minutes. In contrast, a traditional loan application can take weeks and when your need to borrow is urgent – for example a special deal on a new appliance or a time deadline to pay a bill – this wait can cost you money.

4. Make Plans

When you sign up for a personal loan, you’ll know exactly how much you’re paying and for how long. This knowledge enables you to accurately budget for the future and gives you a schedule around which to plan your finances. Alternative borrowing methods such as credit cards leave you in debt with no end date, and uncertain of exactly how much monthly repayments will be.

5. Stay Financially Secure

A personal unsecured loan is approved on the basis of your income. This means that if the loan company doesn’t believe that you have the resources to keep up with repayments, they won’t provide the loan. Unlike using a credit card, this system ensures that you won’t end up with debts you can’t repay and prevents the stress of worrying about how to manage your finances.

7. Gain Flexibility

Unlike financing for a car, house or business loan, a personal loan can be used for whatever purpose you need, or used to cover multiple expenses. This way, you can deal with a variety of outgoings at once with just one repayment schedule to keep up.

If you’re interested in taking out a personal loan then call Chequers Finance now on 09 299 7883 or visit our website for more ways to get in contact.

A personal loan is a great option when you need access to additional cash. These loans are different from a car, house or business loan as they are for any personal need, and are easily accessible.

Visit us at any of our branches:

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Chequers Finance Hamilton

Caro House
137 Alexandra Street
Hamilton
Phone: 07 838 2939

Chequers Finance Henderson

334 Great North Road
Henderson
Auckland
Phone: 09 836 6201

Chequers Finance Papakura

155 Great South Road
Papakura
Auckland
Phone: 09 299 7883

Chequers Finance Otahuhu

13 Criterion Street
Otahuhu
Auckland
Ph: (09) 276 4384