Personal loans are more flexible than any other types of loans, in the sense that they provide you with more options on where you’re going to use them on. Of course, you may already have a goal in mind even before you got the loan amount, since this would be one of the main questions asked by the lender. In some cases, this question wouldn’t be even asked; instead, the concern of you being able to pay back on time would be the focus of their inquiry. This would leave you with more time to decide on where you’re going to use your personal loan on. Just in case you haven’t made up your mind, we enumerated a few important ones for you to consider along the way:
1. To pay off your immediate debts.
Yes, we know, it’s a bit discouraging to apply for an amount that you’re just going to use for unpaid bills and other financial obligations, but consider this: immediate debts are much more unforgiving than those which you can pay off in installments, such as a loan. This would give you a much-needed cushion to set your budget straight and earn more to pay for everything else. If you have credit card debts, you would definitely need a personal loan to pay off, so as to avoid ruining your credit score and history.
2. To be used on a much-needed purchase.
This isn’t limited to cars, as gadgets and clothing are also a part of the purchase list. If you need to treat yourself to a few great items, it may be too tasking to rely on your salary and savings alone, so you must turn to a personal loan to lighten up the load. Take note that you should only avail things which you truly need. You may purchase a new smartphone as your old one gave up on you, or you’re hoping to fill your wardrobe as your recent attires are beginning to fade and amass holes on them.
3. Go on a well-deserved vacation.
Everyone needs to relax sometimes. If your stress levels are reaching a new high, then your personal loan may help fund your dream vacation. Go on a cruise or enjoy the white sandy beaches of a nearby island. The best thing about this option is that you can strategize well, in order to avoid spending all of the amounts from your loan. Vacation packages are more affordable, and you’d even have leftovers from your account, just enough for a few souvenir shopping before taking the return trip.
With all of that being said, you may definitely want a loan service that would best be applicable to your needs, without all of the hassles. Look no further than Cebuana Lhuillier’s Happy Loan, a multi-purpose loan amounting to Php 5,000, Php 10,000 or Php 15,000 offered to any individual who is employed, self-employed, student, or a remittance beneficiary. Our network of more than 2,200 Cebuana Lhuillier branches and online presence give customers unlimited access and utter convenience in applying for a loan. Our five-point application to disbursement process ensures services are delivered on time.