The purpose of shorter duration loans is to provide the borrower temporary financial relief. Such loans are not a long-term financial solution. Persons facing serious financial difficulties should consider other alternatives or should seek out professional financial advice.

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Maternity leave personal loans

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Maternity leave personal loans

Lets say you have built up a debt of £3,000 on a store card that charges interest of 29. You could take out a loan for £3,000 at, say, 8, to pay off the store card balance and reduce the monthly payment. If you also cut up the store card, you would not be tempted to go on a spreading spree and add to your debt burden. Interest rates.

Interest rates on personal loans vary across the market, but as a rough rule of thumb, the more you borrow, the lower the rate. For example, you might pay interest of 9 on a £3,000 loan, but only 6 on a loan of £7,000. It maternity leave personal loans therefore make sense to borrow a larger amount, say £7,000 instead of £6,500.

Maternity leave personal loans