All Topics / Finance / Personal Loan vs Unsecured LOC

Viewing 3 posts - 1 through 3 (of 3 total)
  • Profile photo of p0sitiveCasHfl0wp0sitiveCasHfl0w
    Member
    @p0sitivecashfl0w
    Join Date: 2003
    Post Count: 133
    February 21, 2004 - 1:08 am

    Hi all,

    If the money was to be used for investing purposes, would I be better off with an unsecured LOC or a personal loan? What are the pitfalls to watch out for?? What are the advantages and disadvantages of each finance type?

    Thanks in advance for your help.

    Cheers,

    Jay

    **********************************
    You must stay pOsitive
    …then the cAsHfl0w will come!
    **********************************

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    February 23, 2004 - 5:21 am

    Citibank has a good unsecured LOC, called ready credit. rates are high (17% ish), but you don’t get charged until you use the money, so it would be good to get this facility ready just in case. Personal loans are a lower rate, but may have applicaiton fees and other monthly fees (sometimes).

    Just be aware that having these loans will affect your serviceability.

    Terryw
    Discover Home Loans
    North Sydney
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of p0sitiveCasHfl0wp0sitiveCasHfl0w
    Member
    @p0sitivecashfl0w
    Join Date: 2003
    Post Count: 133
    February 23, 2004 - 8:17 am

    Thanks Terry.

    Cheers,

    Jay

    **********************************
    You must stay <strong>pOsitive</strong>
    …then the <strong>cAsHfl0w</strong> will come!
    **********************************

Viewing 3 posts - 1 through 3 (of 3 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.