Personal loans have become very popular among people for the past couple of years. Basically, a personal loan is a kind of unsecured loan meant for personal use and are somewhat short term ranging from 1-5 years. As it is unsecured, there is no need for any collateral when applying for such loan but you need to note that interest rates are usually higher compared to secured loans. Therefore, before you take up a personal loan, we recommend that you consider your monthly income and other fixed and variable expenses you may have.
In general, personal loans are of a great help to borrowers in solving their day-to-day expenses and financial obligations. Such situations include paying off credit card bills which have high interest rates, and hence paying off credit card debt with a loan that has lower interest rate would make a lot of sense. Other situations could be to pay for medical fees, car instalments, and wedding expenses or even for the much needed holiday getaways. In short, personal loan is of great help in any situation where you are falling short of cash. Nonetheless, the golden rule we encourage all borrowers to abide to is borrow only what you need.
Lastly, once you have decided to take up a personal loan, do ensure the following:
- You understand the terms and conditions fully
- You receive a copy of the contract agreement
- Both parties are agreeable to the loan amount, the repayment schedule and interest rate charged
- No hidden fees and charges
At Happy Cash, we offer attractive personal loan with a customised repayment schedule that will fit your financial situation. Our interest rates are highly competitive in the market. If you have any queries on our personal loan packages, please do not hesitate to call us at +65 6293 3229 or email us at email@example.com.