Smart ways to use a personal loan

Taking out a personal loan can be a smart move to strengthen your financial situation. And while you can use a personal loan for just about anything (hello, Mediterranean cruise!), the most beneficial uses are often the least glamorous.

Here are four ways a personal loan can help move you toward a stronger financial future.

 

Use a personal loan to consolidate higher-interest credit card balances or other high-rate loans. This can simplify your payments and potentially save you money on interest.

 

If you don’t already have a strong credit history, a personal loan can help you build one. Making consistent, on-time payments shows lenders you can manage debt responsibly—and that can improve your chances of qualifying for credit when you need it.

 

If your rainy day fund runs dry, a personal loan can help you handle life’s surprises. Whether it’s a broken water heater or an unexpected medical bill, having access to funds can make a stressful situation more manageable.

 

A personal loan can help you tackle projects like a bathroom remodel or a deck addition. Just be sure to do your homework and choose improvements that add value to your home.

 

Getting started is simple—no collateral required, just your signature.

 

To learn more, visit a branch, call 1‑800‑288‑3425, or explore your options online.