Personal loans VS staff loans
Thursday April 10, 2008
Staff loans and personal loans often fulfil similar needs, but which is better for you? Each has its advantages and disadvantages, with your own financial situation deciding which is best for you.
If you work for a business that offers staff loans, then you need to determine whether this is to improve employee happiness or as another source of revenue. Obviously the business will not give you a loan they'd make a loss on, but it is also important that they aren't giving you a bad deal, either. Staff loans can be excellent if you don't have anything to secure a personal loan with, as your employer has the security of your income to ensure repayment.
Personal loans are a better option if you don't trust your employer to give you a good deal on staff loans. Also, you can better moderate the amount you need to repay on a personal loan, whereas staff loans repayments will likely be taken straight out of your wages.
Please visit our personal loans page if you would like an alternative to staff loans.
Share This