A personal loan is yours to pretty much spend how you like. Your bank manager may take a look at how you intend to spend it and decide if it's too risky or not, but at the end of the day, you decide what's important to you.
Saying that, there are some things it would be wise not to blow your loan on. Here are three of the craziest things people have said they want when applying for a personal loan:
1) A Bengal tiger
What says affluence more than your very own tiger? Not much, though we doubt you'd want one of these endangered, 230-kilogram animals roaming around your house. That didn't stop one person from taking his big-feline request to his bank manager, Canstar found.
Talk about being wild with your money!
2) Cryogenic freezing
There's not the longest waiting list if you want to have your body preserved in ice, though there is a cost. The Daily Mail believes it comes with a price tag of at least $260,000, and the application fee is pretty high too, leaving a British person with only one option – a personal loan.
Blowing your money on cryogenics? That could be a good way to get your assets frozen and nothing else.
3) A Spice Girl's dress
In 1998, the iconic Union Jack dress worn by Geri "Ginger Spice" Halliwell sold for more than $78,000 dollars. Canstar says that an unnamed person requested a loan for such an investment, though it perhaps wouldn't be the smartest one. Dresses are not known for fast value appreciation, after all.
Better ways to spend your cash
Want a better use for your money? Why not check out applying for a home and investment loan? Property analyst experts CoreLogic have predicted a 9.68 per cent annual growth in Sydney home values. Melbourne? Well, that's an ever higher 11.83 per cent and Brisbane is performing well, too, at 5.72 per cent.
You'll also want a great interest rate. As a customer-owned banking organisation, CAPE is invested in your success, so we provide interest rates that are generally better than the main banks.
Get in touch if you'd like to look at the best ways to spend your loan.