Use a personal loan to improve and add value to your life
A young man spends time in his new home. (Gallo Images)
When used correctly, a personal loan is an easy and affordable way to improve your life and can do a lot of good for you or your family.
A personal loan from a responsible institution, such as a bank, can have various advantages when used for appropriate purposes, such as consolidating multiple loans and accounts. But more than that, it can be most meaningful when invested in things that can improve your financial situation in the long run.
In search of value
The key is to consider the uses that have the potential to make money in your pocket. Starting a business, renovating part of your home, taking a short training course, or investing in a used vehicle are all things that over time add value to your life.
Through Nedbank’s Real Difference campaign, we are able to hear and read real inspiring loan stories shared by ordinary South Africans about how a personal loan has actually improved their lives.
Shirley Thwala of Gauteng and her sister lost their mother at a very young age and had to rely on foster families and grants to survive.
âAfter a while I was able to get into an apprenticeship program and continued to work tirelessly until I got a job,â says Shirley. âI became the main breadwinner of my family very early in life, but over time I realized that my income alone was not enough and that I needed a long term financial solution to improve my family’s life. “
Approaching the bank, she told them about a rental business idea she had to help her generate additional income for her and her sister’s needs.
âFrom the start I felt comfortable because they helped me through the process. I received the money through a personal loan that I could afford to pay off. was able to renovate my family’s house by building a garage and three additional bedrooms, which we are now renting out. This gave my family a stable source of income and allowed my sister to finally afford to go to college . “
Share your true stories for a chance to win
Shirley’s loan was not a financial windfall that was simply spent on goods with no return value. It was a financial break that, over time, had the potential to bring her regular monthly cash flow from rental income, improving her and her long-term financial situation.
Between July and December 2021, South Africans are invited to share their true stories of how a personal loan has made a real difference in their lives and to try and win a R 1,000 Avo voucher.
Avo is Nedbank’s awesome app available for all South Africans. On Avo, consumers and businesses can complete many different transactions on a single platform, whether it’s buying groceries, prepaid top-ups, digital home entertainment, or accessing home service providers.
At Nedbank, clients can have peace of mind as they will be offered the right loan amount at a high interest rate suited to their financial needs, ensuring that they maintain a good credit history with an institution. responsible and trustworthy financial institution.
To read more about Nedbank Personal Loans or the Real Difference, True Loan stories, click here.
This article was sponsored by Nedbank and produced by BrandStudio24.