2020 has been an odd one to say the least. Whether your travel plans have been cancelled, youve rearranged your wedding or home renovation, or your finances simply arent what they used to be, a personal loan might help you get back on track.
Its true, in some cases its more convenient to reach for your credit card to make purchases. But if you have a big expense coming up or find yourself needing to cover a large bill, a personal loan may actually be the better option.
According to the Mozo database, the average interest rate on a secured personal loan sits at 8.01% and the average unsecured personal loan rate sits at 10.24%. Meanwhile the average credit card interest rate is 16.35%.
So, if you think that your situation might be a good one…
Read the full article at: https://mozo.com.au/personal-loans/articles/5-reasons-you-might-need-a-personal-loan-this-summer