Personal Loans

A personal loan lets you borrow money to pay for something special, like a holiday, car or home renovations.

There are many lenders in the market offering personal loans at various interest rates. Having a good credit score often will help you get a better rate with most lenders.

Fixed or variable interest rate

With a fixed interest rate, your repayments are fixed and won’t change over the loan term. You’ll know exactly how much will come out of your bank account each month.

With a variable interest rate, your repayments will change if interest rates change. If interest rates rise, your repayments will be higher. If interest rates fall, your repayments will go down.

A loan with a variable interest rate usually has no early exit fee

. This might be better if you’re planning to pay the loan back early.