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Personal Loan is like a Sex Cheating from your Partner

When you are cheating from you partner you enjoy those few minutes once your find out it ruin your relationship for ever or for a long time to normal.  Look at how loan you enjoy money from loan and how loan feel pain paying back loan.

These are just my opinion after I have seen this contract one of my friends singed with another well known Financial Institution here in South Africa. I am just giving you a warning to stay away on personal loan if you don't really need it.
The following is a picture I have seen is scaring me. I do not have any financial knowledge to blame and is too much or low. But will be happy to get more comment from those who have accounting skills. Sharing is caring.

If you are still dreaming financial freedom in the near future I suggest stay away from Personal Loans even if is from your Bank or any Financial institution you trust.

If you need to know which company has such interest send me an email, inbox on my Twitter, Facebook, Google+

Five reason you need to stay away from Personal loans

1. Loan is like a sex you enjoy it the moment you receive it few days after you will feel ashamed if it was not necessary to take a loan.
2. They interest value is more than the amount you borrow. She got a loan of R8000 but will pay R11 917.86 end up paying total amount of R24899,59.   R24899,59 / R8000 = Three time more of your loan amount. They profit from you is more than 100%.
3. Will never tell you so much about exorbitant Monthly service fee, annual interest rate and Credit life insurance.
4  They offer you flexible time to payback so that they will get more money or profit from you.
5. Do not forget the Vat 14% or Tax is not include in this amount you will see it in your first statement.

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