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FNB South Africa

684,735 followers

1w

The right credit at the right time can make all the difference. Start 2025 on the right financial track with expert advice from Amika Maharaj, Executive Head FNB Personal Segment Advisory and Suites on selecting the right credit for your needs. #MoneyMondays #Credit #lovefnb

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Different types of credit. Talk to us about that. The first thing we need to consider is the need, and dependent on your need, there's essentially two types of credit. There's secured credit, which matches to a need to buy a home as an example, or purchase a car. And then there's unsecured credits. So let's talk about unsecured credit. It's important to understand is this need a once off need? So as an example, is it an unexpected medical bill as an example. Then the other type is what we call a facility. Or you know, a recurring need. So as an example, you know, you might want to start a little business, you know, there's school fees coming up. So there's a few needs that need to be catered for using credit. And that's where you're recurring or your facility type credit comes in. So the take out is make sure that you first of all check your credit record that that's in a good position. The second thing is make sure that you pay on time and that you're using the right credit for the right need. And that of course, is F&B Money Mondays. Thank you for joining us.

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