IRVINGTON, N.Y. -- From education to vacation, a personal loan can cover a number of needs without having to break into a savings account. Irvington's, Sunnyside Federal offers competitive rates on personal loans, and can to help its customers pay for what they need most.
Personal loans can be used to help pay for personal expenses including higher education, weddings, medical costs, home improvement and more. While it can be difficult to determine when a personal loan is a good idea, there are factors to consider that may help make this decision easier. "A personal loan can offer you quick and easy access to money," said Stephen Nelson, commercial loan officer at Sunnyside Federal. "You’re often free to spend it however you’d like, so personal loans can be used for a variety of things."
Any large event, such as a wedding, is commonly paid for by taking out a personal loan. Unlike paying with a credit card, a personal loan for a large expense like this might save you money on interest charges, and allow you more than a month to pay the cost.
In addition to using personal loans for large events, they can also be used to help consolidate credit. "If you have high-interest credit card debt, personal loans may be a good idea," said Nelson. "If you have one or more credit cards that are charged to the max, you could get a personal loan to consolidate all the charges into one monthly payment. This way, you’ll have just one easy payment for your personal loan."
You can use a personal loan to help pay off debt or make a large investment, however, speaking with a finical advisor to help determine the best course of action is important. "We offer easy, in-house processing for personal loans, so we can walk you through each step," said Nelson.
Find out more about Sunnyside Federal, Member FDIC, by clicking here.
Sunnyside Federal is an equal opportunity lender.