Let's first look at the 2 types of personal loans you can apply for. The first being unsecured personal loans, which is basically a personal loan you can acquire with putting up any assets in regards to the loan, to make sure that you are able to repay the loan. These unsecured loans are getting more and more popular, but be very careful who you sign up with, since there are a few very suspicious companies out there that have extremely high interest rates.
Secondly we have secured loans and these personal loans are generally offered more by your larger financial institutions like banks and generally require you to provide them with an asset that they hold against your loan.
Now in terms of managing either of these loans be sure to make room in your budget for the monthly repayment. Making sure that you do not miss a repayment, try and sign up for a set debit order. Making sure that you manage your personal loan is crucial and make this a priority even before applying for a loan.
One company that we can recommend that offer great personal loans is Wonga and be sure to look at them when applying for a personal loan.
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Short-term loans up to R3000