FNB personal loans are extremely versatile. You can see that they truly care about their customers. Each personal loan vendor has their own benefits. In other words: you will have to choose wisely beforehand. This is because you will be making payments toward the loan for some time. If you do not choose correctly, you may end up regretting your decision later on.
Some people do not consider this fact to be very important. They mostly believe the rate is the only important thing. The rate is important, but it should not be the only important factor when choosing. The benefits and the rate should weigh in equally in your decision. FNB offers a great combination of the two, which makes them one of the best options. Here are some of the benefits that you should take into consideration:
Personalised interest rates
FNB offers personalised interest rates to all of its clients. This means that you will be rewarded for having a good credit record. There are still many companies that have a fixed interest rate for everyone, which does not make sense. Why should you pay the same amount of interest as someone that does not make payments on time? If you are, you are being punished for something other people did.
Quick loan payouts
When you decide you need a personal loan, you will most likely need it urgently. This is almost always the case. With FNB, the approval process takes minutes, not days. If you are ever in a sticky situation, you can count on this fact. It would be pointless to apply for a personal loan with a long approval time if you need it for medical expenses, for example.
No early settlement penalties
With home loans, you are able to repay more if you want and cut the capital amount. This is unfortunately not the case with personal loans. To this day, there are still companies that penalise people heavily for settling the debt early, but this is not the case with FNB personal loans. You should have the ability to settle the loan early if you want.
Payment break in January
You can opt for a payment break in January. This is a two-edged sword since your repayment period will increase. Considering the benefits of skipping January, it may be worth the trade-off. Many people blow the budget in December because of the holidays. If you take the payment break, January won’t be such a difficult time.
Fixed monthly repayments
When you take out FNB personal loans, the repayments are fixed. They will not change at any point in the repayment period. The best part is, the amount includes all fees and charges, so there are no nasty surprises. It also means that you are protected against spikes in the interest rate.
You have to consider all of these things when taking out a personal loan. No two companies are alike. Be sure before you sign.