Personal loans are a simple financial product for individuals and couples.
Personal loans are typically available over a 24 – 84 month term. Interest rates that are payable depend on a number of factors, this may include Credit History, if it is an unsecured or secured loan
Common personal loan purposes include new car purchases, debt consolidation, holidays and more.
The minimum amount you can borrow with many personal loans is $1,000. The maximum amount you can borrow is often $50,000. With some personal loans, you may be able to borrow up to $100,000
Fixed rates vs. variable rates
A fixed rate stays the same for the chosen period, meaning your loan repayments stay the same during that time. A variable rate can move up or down, meaning your minimum loan repayment may change. If you pay more than the minimum loan repayment you may also have access to a redraw facility on your variable rate loan, which comes in handy if you need money unexpectedly.
Ready to find out more?
Contact Western Financial Group today to ensure you get it right – the first time!