Although there is a lot of talk about loans these days, it is difficult to get any valuable information out of chaotic media chatter. According to recent research, the problem of monetary liabilities currently affects more than half of Poles. However, it is worth knowing that not the number of borrowers is a problem, but their low financial awareness. It is estimated that more than half of them do not know the amount of their crediting. What is worth knowing about cash loans? We invite you to read our article.
“Promotion” as a cheap marketing gimmick
It should be remembered that although the advertising slogan says about the reduced interest rate, it does not mean that the bank did not raise costs in any place of the contract. The similar situation occurs in the case of the so-called cross-selling, mainly used on the occasion of mortgage loans.
It is clear that the commission may be lower, especially if we decide to combine credit card, insurance and personal account, but this does not mean that the costs of any additional products can effectively destroy our “promotion”. With this in mind, the adventure with commitments, we should start by familiarizing ourselves with the calculator. Special cash loan calculators are now available online. Thanks to them it is possible not only to estimate the amount of installments, but also to equal and decreasing installments,
With this in mind, the adventure with commitments, we should start by familiarizing ourselves with the calculator. Special cash loan calculators are now available online. Thanks to them it is possible not only to estimate the amount of installments, but also to equal and decreasing installments, commissions and the valuation of the total cost and total repayment amount.
Don’t make too many loan applications
It often happens that when looking for the best form of credit, we organize a marathon after a dozen or so bank branches. Their goal is to compare – closely – the conditions of different companies and increase the chance of getting a loan. However, it should be remembered that these actions have their strictly defined effects.
Why? Well, because each application lands in the Credit Information Bureau, and too many inquiries can alarm bank employees and translate into a negative assessment of the financial situation. The number of inquiries over 3 in the last 3 months may be borderline and may result in subsequent refusals.