Personal loans have enabled thousands of people to achieve their dreams and aspirations. It has also helped people when they needed a few extra funds to get out of a tight financial situation. Here is a story of 5 people who benefitted from availing a personal loan in different situations:
1. Anjali Bhardwaj had been wanting to remodel her kitchen for a while now. But she had also been saving up for her own wedding which was to take place in the following year. In such a situation, she could not afford to use up her savings to redo the kitchen. So, Anjali decided to apply for a personal loan instead. This helped her fund the renovation and her savings remained intact by the end of it.
So, if you want to remodel / renovate / expand your office / personal space, a personal loan is a great way to do that without going broke.
2. Akshay Pillai was going to get married to his long-term girlfriend, Aparna. Both Aparna and Akshay were of the opinion that they would be paying for the entire wedding and would not turn to their parents for funds. Did this mean that they had to cut down on the wedding budget to suit their income? No. They chose to avail a personal loan for the wedding and were able to throw a gala affair.
The big fat Indian wedding can be quite the investment. But if going all out is your thing, then why should you hold back? Here’s where you can avail a personal loan to make funding the wedding easy.
3. Sarita Chauhan’s father suffered a cardiac arrest and the following treatment would cost her lakhs of rupees. Her savings were not adequate and she didn’t know of anyone who could help her with that kind of money. That’s when she decided to get a personal loan. This way she was able to afford top notch treatment for her father at a reputed hospital.
Medical emergencies are usually unforeseen and can catch you unawares. But when it comes to health, you must make no compromises. So, in case of a medical emergency, you can easily opt for a personal loan so that you have to make absolutely no compromises when it comes to healthcare.
4. Rajat Gupta had been meaning to take his family on a vacation abroad. With the summer vacations approaching he began to get anxious. He did not want to disappoint his kids, but he was not sure if using up all their savings for a vacation was the best idea. This is why he availed a personal loan for this purpose. A vacation for four to Paris was booked and the Gupta family’s savings remained intact.
Vacations might seem like a luxury, but personal loans have been making luxuries affordable for ages now. If you want to take your family out on a vacation or have been bitten by the travel bug, here’s a smart way to fund the trip.
5. Nikita Ahlwat always wanted to customise her first car to suit her funky lifestyle. Of course, her friends and family expected nothing less from the vibrant DJ. But car customisation could be ridiculously expensive and she had already invested all her funds in her DJ-ing venture. So, Nikita approached a lender for a personal loan. She was soon zapping away in her cool, new car and it hadn’t strained her finances even a bit.
If you are passionate about your car and want to give it that extra edge, you don’t have to wait till you have enough savings. Just get a personal loan and you will be good to go.
The above listed scenarios are just some of the situations when it makes sense to avail a personal loan. The bottom line is that whether it is an urgent expense or leisurely activity that you wish to fund, a personal loan is a great way to do so. The only thing you must keep in mind is that getting carried away is never a good idea. Borrow only as much as you need and will be able to eventually repay. You must also factor in the interest rate and if it is in adherence with your payment capacity or not. Once you have evaluated all these points, you can go ahead and get yourself a personal loan.
