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Sep 28, 2017 - 34 minute read

Difference between finance and personal loan

Doing up or extending your home is a great way to add value to your home as well as giving you and your family a wonderful place to live. We can help you find the right home improvement loan for you. Personal loans. A personal loan is a type of unsecured loan, which means the debt isnt secured against any asset.

With a personal loan, you borrow a fixed amount over a fixed term and usually pay a fixed amount of interest. You then repay this over time, making set monthly repayments. Your credit rating is very important if you want to take out a personal loan poor credit will mean high interest rates, or a potential refusal for credit.

Difference between finance and personal loan

Dont worry if it doesnt immediately sound… [Read More] This site may provide an estimate only of loan repayments but does not constitute a loan offer by Rapid Loans Pty Ltd.

Australian Credit Licence 388847. Any estimated repayment amount displayed may vary due to the effect your personal requirements may have on loan repayment calculation. Rapid Loans is committed to responsible lending. All loans are subject to an approval process which is subject to our lending criteria and an assessment of borrower suitability. 1 Subject to assessment of affordability and suitability.

All secured loans have a maximum Annual Percentage Rate (APR) of 48 or less. A secured personal loan of 2,500 with a 24 month term has a maximum total cost of credit, difference between finance and personal loan all applicable fees, of 1,617. 43 which equates to a maximum Annual Cost Rate (ACR) of 48.

Difference between finance and personal loan

Cash in your pocket. An EFT will be made into your bank account as soon as the contract has been signed and payment details have been captured. Get Started. Same Day Payout. Find a Branch. Mpumalanga. North West. Free State. Eastern Cape. KwaZulu Natal.

Difference between finance and personal loan
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