Yearly Archives: 2019

How do you apply for a loan online?

Before entering into a loan installment contract online, you should carefully read the offer and think about all the pros and cons. The online loan granting process is now virtually fully automated. Just a few steps to get quick cash. Below we present the application procedure.

What information must the loan application contain?

What information must the loan application contain?

Everyone can apply for an installment loan, but you must meet a few basic conditions to get it. First of all, all non-bank companies require the borrower to be of legal age and possess Polish citizenship. There are also more and more offers in which it is not enough to be 18 years old, a frequent requirement is to be 21 years old. If these conditions are met, you can proceed to submit the application. All you have to do is log in to the online portal of the loan provider and complete the loan application. You will need your ID card details, email address and phone number, and sometimes your bank account number. Importantly, it must be the applicant’s personal bank account (it cannot be, for example, an account that other co-owners also have). Both the account number and the mobile phone number will be used to verify the applicant’s identity.

However, what if the applicant does not have a bank account or does not have access to the Internet? Loan companies can also apply for a loan over the phone, and the lack of an account can be compensated by using a Giro check. The consultant guides the client through the entire loan application procedure. So it turns out that the only technical requirement necessary to obtain cash is a functional mobile phone from which you can make voice calls and receive an SMS. In the event of any difficulties in completing the application, qualified consultants in the call center will help.

Where can you get a quick installment loan online? Here are our hints!

How do banks verify their customers?

How do parabanks verify their customers?

Since installment loans can be applied for online or by phone, there must also be two separate ways to verify customer identity. The first of these is the so-called verification transfer. To check if someone else is impersonating the applicant, the loan company will ask you to make a symbolic transfer of $ 0.1 or $ 1.00. After the verification process, this amount will be refunded to the customer.

There are other methods for verifying customers when borrowing online through installments. A loan without a penny transfer is a solution that will appeal especially to people who have a debit account or do not want to wait for the verification transfer to be credited. Identity checking can be based on the data that the customer provides when logging into his bank. It is a completely secure method, using SSL encryption tools. In addition, it does not require installing additional applications on the phone, which also allow you to confirm the identity of the customer.

What if the applicant does not have a bank account? The loan companies have also found a solution. The method of receiving cash via a Giro check comes in handy. With its help, the money from the loan granted can be taken at any post office. If the loan application was submitted by phone, the identity of the borrower will be verified by a postal worker, who is obliged to show both the ID card and the unique cash collection code. The code is sent via SMS after obtaining a positive decision on granting the loan.

Analysis of customer data in BIK and KRD

Analysis of customer data in BIK and KRD

Less formalism is an undoubted advantage that distinguishes loan companies from banks. Therefore, when applying for an installment loan online, in most situations you do not have to be afraid that the loan company will ask you to provide certificates whether it is about your income or permanent employment. In almost every situation, all you need is a customer statement on the subject. However, loan companies must assess the risk of lending money to a particular customer. In this way, the company not only protects its interests against dishonest customers, but also protects the borrower against excessive debt. The most important information base for them about the client’s guarantee that he will repay the loan on time is data from BIK and KRD. Most companies check these registers and additionally use their internal databases.

Online loans without BIK and KRD are therefore more risky for the lender, hence the simple conclusion that the loan company must secure itself in some additional way, e.g. by requesting a loan guarantor, i.e. someone who undertakes to repay the loan if the borrower fails to do so . Almost always such loans will also bear higher interest, i.e. simply more expensive.

However, it is worth remembering that loan companies, guided by the principle of responsible responsible lending, will not grant a loan to a person who has negative entries in BIK and KRD. More information about responsible lending in the article – You want to take a quick installment loan – check what responsible lending is.

How quickly will I receive the money by taking a loan online?

How quickly will I receive the money by taking a loan online?

Loan companies know that people who use online installment loans care about time, hence many of them have fully automated their processes. That is why it is so important that the application is completed correctly. Even a small error, e.g. in the PESEL number, may result in rejection of the application by the company’s algorithm.

The time it takes to get your payout also depends on the type of identity checking method you choose. If it is a method with a verification transfer – after the application has been approved, the transfer with the loan will be sent immediately after the verification transfer has been posted ($ 0.01 or $ 1.00). In the case of a loan without a penny transfer, the money will be transferred immediately after making a positive decision on granting the loan (the whole procedure should not take more than 24h). In turn, with the Giro check, the client can collect money in person at any Astro Finance outlet. He usually has 10 calendar days to do this.

If you really need quick cash, you should look for the fastest installment loan offer to have the money in your account in 15 minutes.

It is worth remembering that the decision to incur a financial commitment is a serious matter. You should always rethink and re-calculate whether in a given situation a loan will definitely be the best and the cheapest solution. It is worth using the services of proven reputation companies that comply with the principles of responsible lending. It is a good idea to use online comparison and loan company rankings, thanks to which you can easily and quickly compare offers of many companies.

Sms loans vs Private loans

Basically, a sms loan is a type of private loan since the definition of private loan is that it is aimed at private individuals, does not require any security and is used for consumption. However, there are some differences between regular private loans and sms loans.

 

Sms loans have faster processing times

Sms loans have faster processing times

You probably know that it usually takes up to 24 hours to get a definitive response to their loan application when you apply for a private loan. Then it takes up to 3 banking days for the money to be in the account after the loan agreement is signed and has reached the lender. It may not matter that much if you are going to borrow a larger amount of money and / or want a low interest rate, but if you need to borrow money quickly, it is of course taken for too long.

Many loans are already paid on the same day if you make your loan application in the middle of a weekday, otherwise you will receive the loan the following weekday. In addition, there are many lenders who pay sms loans directly to certain banks, which means that you can get your money right after the loan application is approved. These loans can often be paid on weekends.

 

Sms loans have lower requirements

Sms loans have lower requirements

Most private loans have quite high requirements, you often have to earn at least USD 120,000 – 200,000 per year depending on the bank and you may not have any payment notes. If you do, you can, in some cases, only borrow smaller sums. This means that you who do not earn so much and / or have a payment note are not able to take a regular private loan, but it is not at all impossible to take a sms loan in these circumstances.

There are many sms lenders that you can apply for a quick loan with payment note at and most have fairly low income requirements. Sometimes it can be enough to earn around USD 20,000 – 50,000 / year to borrow money. 

 

Sms loans have a higher interest rate

credit loan

Sms loans have a clearly higher interest rate than private loans, which is because:

  1. The loan is smaller and has a shorter maturity. It would simply not be profitable to lend say 3,000 USD for 30 days and offer the same interest rate as a private loan.
  2. Sms loans entail a higher risk due to the lower loan requirements.

But many times a sms loan doesn’t have to be that expensive because the loan is small and the term is short. For example, you can borrow USD 3,000 and pay USD 100 – 200 for it, plus you can find sms loans that are completely free. Then you only pay back what you borrowed and not a penny more.

 

Sms loans are smaller and have a shorter repayment period

Sms loans are smaller and have a shorter repayment period

Pay day

When the fast loans went through, the amounts that were lent out were rarely greater than USD 3,000 – 6,000, but that doesn’t really look like today. Today, there are many sms lenders offering fast loans of up to, for example, USD 12,000, 20,000 or USD 30,000.

However, larger loans usually have a longer maturity (ie the time between the day you took out the loan and the day the loan is to be repaid) than the smaller loans. The purpose is to facilitate the borrowers’ ability to repay the loan. The lowest amounts usually amount to USD 500 or 1,000, but there are even lower loan amounts than that. Typical maturities for sms loans are usually between 14 – 90 days, but some lenders offer maturities of up to one or two years.

 

Consumer Lending

This type of loan is also called interlibrary loan and is one of the most common types of loan. The interest rate on a private loan is also relatively high, for example, when compared to a mortgage, since the loan in question has no collateral. A typical private loan from the bank has previously been around USD 10,000 – 350,000, but can vary widely between amounts today. Today there are private loans up to both USD 400,000 and USD 500,000 and some private loans can be only USD 5,000.

The repayment period here differs from the fast loans. When you take out a private loan, you can repay it in about 1-12 years. However, you should keep in mind that the loan becomes more expensive the longer the repayment period due to interest costs.

If you need to borrow less than USD 5,000 or USD 10,000, then sms loans are your only option, but if you want to borrow larger amounts, ie you have thousands or hundreds of thousands of USD, you must take a private loan.

How to check if the online loan is safe?

When we decide to get a loan in installments from one of the many non-bank financial institutions, we are often concerned about security issues. Unnecessarily, because the activity of loan companies is regulated just like the activity of banks. There are many registers in which you can verify the legality of each entity’s operations.

What else should you remember when applying for an online loan? What information to verify?

1. See the National Court Register and the KNF warning list

1. See the National Court Register and the KNF warning list

The first step to check any company that offers installment loans should be to verify it in the KRS database. The National Court Register is nothing more than a database of enterprises, associations, foundations, and even social and professional organizations. The obligation to have a KRS number is imposed on the entities mentioned by the Act of 20 August 1997 on the National Court Register.

Checking the company offering installment loans in the National Court Register will allow us to verify the legality of its operation, but it will not guarantee ethical and proper treatment of customers and compliance with the regulations. However, do not worry too much about it, because you can easily deal with this problem. It happens that the Polish Financial Supervision Authority has reservations about the way a particular entity operates, which it informs the public about. Among other things, it is worth having a look at the list of warnings kept by the Polish Financial Supervision Authority before signing the loan agreement. We will find there entities which the Polish Financial Supervision Authority has more or less serious doubts or objections. The presence of the loan company of interest to us on the list of warnings should therefore alarm us and make us reconsider the decision to use its offer.

In addition, you can check whether the lender we choose belongs to Lite Lender and whether the non-banking institution has recently carried out an ethical audit. Obtaining the Ethical Certificate is a confirmation of compliance with high ethical standards in line with the idea of ‚Äč‚Äčresponsible lending and respecting the Principles of Good Practice (ZDP), developed by ZPF. The ZDP document is a set of obligations for financial institutions that are based on moral standards and applicable legal provisions.

2. Check the Register of Loan Institutions

2. <a href=Check the Register of Loan Institutions” width=”640″ height=”479″ />

The Consumer Credit Act of 22 July 2017 introduced an obligation for companies offering installment loans to be entered in the Register of Loan Institutions. It is kept, similarly to the list of public warnings by the Polish Financial Supervision Authority, and its occurrence requires the fulfillment of a number of formal conditions.

Considering the above, checking the company in the said register should be another element of verification of the lender. We should remember, however, that the mere presence of an entity in the register is not synonymous with its positive assessment by the PFSA, but only a confirmation of compliance with the obligations imposed by the legislator.

3. Verify opinions about the company offering installment loans

3. Verify opinions about the company offering installment loans

We will definitely learn more about the principles of the subject’s operation or his approach to the client’s needs and expectations, from people who had the opportunity to take advantage of his offer. If someone from our relatives applied for a loan at a given loan institution, be sure to ask them for opinions. What if we can’t count on such support from our friends? It is worth looking for recommendations on the Internet. There are many websites where individual loan entities are evaluated. Reviews are also available on financial online forms, so don’t forget to look there.

4. Carefully study the offer

4. Carefully study the offer

A cash loan is a financial product with very simple operating principles. If, when analyzing the offer of the selected entity, we are not able to accurately verify the actual cost of financing, consider choosing another company. The installment loan offer, as well as all related costs, should be clearly and clearly described or explained by a company employee. If, despite in-depth study of the loan agreement and the table of fees and commissions, we are not able to understand the principles of calculating fees or the mechanism of the installment loan itself, let’s use the offer of another entity. Honest companies clearly communicate the amount of real financing costs, offer calculators to quickly calculate them, and avoid complicated and difficult to understand formulas and constructions in their loan agreements.

Business plan for your financing: We give you 10 keys – Business Loans

When you consider starting a business, you have a lot of uncertainty, adrenaline and ambition to eat the world. But do not be stunned, take paper and pen and capture all your ideas. The day will come when these ideas will have to be ordered and a business plan or Business plan created.

One of the first needs your business will have will be the need for financing. When that time comes you must have a good business plan. In this guide you will find all the steps to create a good business plan. Keep reading.

The business plan

The business plan

Lets start by the beginning. The business plan is a document that reflects the business activity as clearly as possible and where the opportunities, strengths and weaknesses and threats are analyzed. All the specifications regarding strategy, financial … to carry out the business must also be reflected.

What is a business plan for?

What is a business plan for?

A business plan, above all, and perhaps more importantly, allows the entrepreneur, while it is being carried out, to carry out an exhaustive study and analysis of both his new business idea and the market in which he will operate, and thus achieve a global vision of everything It has to do with your new business. In addition, once the business is established and started, the evolution of the business can be checked by contrasting it with the business plan.

This business plan has a second fundamental objective that is to serve as a presentation to potential investors, collaborators or financing providers. This business plan will help them to know in depth the business idea, its market, its potential … and thus be able to value investing in it or not, or finance the business or not. Therefore, when making the business plan, think of all these people who will want to know more about the business and make it as easy as possible.

How to make a business plan?

How to make a business plan?

Let’s get down to work.

The business plan requires more time than it seems, therefore it is better to get there as soon as possible. We start with the infographic summary and then we will explain a little more each.

What a difference in loans!

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We simply do not want to believe our eyes at first sight. We have always known that there are differences between banks’ loans. What’s more, it’s not surprising that no single loan within a bank falls into a price range. But these numbers surprised us too. Look at you too, then interpret what you see!

The calculator is the key

bank

If you did not believe that you should use the credit.com calculator , this will definitely change now. We’ve written in several articles how much money it takes to take the trouble and see what kind of credit is right for you.

The calculator can show a lot of things, so it is worth spending a little more time with it, as we have done now. We have seen what happens when the final result of the calculation is not just the cheapest offers. And then now comes the part where you should hang on.

The talkative numbers

bank

We thought it was a good reflection of what we were talking about when taking out a $ 50 million loan over a 22-year term. This is a large enough amount to show the difference we have made so far. The banks we are just randomly selecting are the same for each bank.

Let’s start with Budapest Bank! The cheapest loan you give us is $ 73,309 per month and a total of $ 19,513,587 that we will repay over a period of 22 years. This is one of the best and cheapest deals on offer from banks.

However, if you scroll down the results, the most expensive bid is $ 95,217 per month. All in all, this means that we will refund $ 25,166,030 to the bank. As you can see the difference is 5.6 million forints. What does that mean?

Being able to borrow at Budapest Bank is very cheap and expensive. So it’s not enough to just count one and see which bank has the cheapest deal and walk into them. Contact us and we will help!

Results of other banks

Results of other banks

As with the bank mentioned above, we have experienced similar differences elsewhere. At Good Finance, say, the two extremes of the monthly installment payment are HUF 77,513 and HUF 95,217. For the total amount, this means US $ 20,484,363 and US $ 25,158,909. The difference here is “only” about 4.5 million forints , but let’s not forget that Good Finance’s cheapest loan will be a million forints more expensive than Budapest Bank’s.

Bank also has some interesting numbers. On a monthly basis, one of their loans is 15 thousand HUF cheaper than the other. And it matters to HUF 71 729 or 86 275 HUF referred to for 22 years. In total, the small monthly difference of 15 thousand HUF swells to almost 4 million HUF . And you could buy so much more from this…

What does all this mean?

bank

It is quite clear that the differences are due to two reasons. One is the interest period . It doesn’t matter how long our fixed monthly payments stay. The other is that it does not matter what kind of income we have and how we are classified. Because of this complexity, contact us! It is our job to find the best opportunities for you to find the solution for you.

Loans Mortgage calculator

Loans. Free administration of home and personal loans. We are professionals in credit management.

Borrowing without waiting

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National credit administration, at home, at work or wherever you want. Borrowing without waiting, without waiting in line. Mortgage calculator

As a national network of Good Finance:

  • We are available anywhere in the country or, if not, we go wherever you want
  • More than 18 years of experience in credit administration, our credit specialists have the required MNB qualification
  • Safe professional background
  • Almost all domestic financial institution products are available in one place.
  • A universal banking comparison and rating system with just a few clicks
  • Professional support: either in Family Home Discount or in lending matters.
  • Most of our partner financial institutions offer discounts to our clients that are more favorable than branch offers

Home Loans

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  • Consumer Friendly Home Loan
  • Home loan used to buy a home
  • Home loan for new home purchase
  • Home renovation loan
  • Home improvement loan
  • Bridging loan
  • Loan For Land Purchase

Subsidized home loan

  • Subsidized home loan for new home purchase
  • Subsidized housing loan for families with multiple children
  • Subsidized home loan to buy a used home
  • Subsidized home loan for new home purchase, construction
  • Subsidized home loan extension
  • Subsidized home loan for modernization
  • Construction, renovation, extension, modernization
  • Construction loan

Mortgage Loans

Mortgage Loans

A mortgage loan is a mortgage or real estate loan that can help you claim more money from financial institutions. In such cases, the loans taken are usually used for whatever purpose you want, so you can buy an apartment, a car, or start your own business. In most cases, the amount of credit is determined by the value of the property being offered as collateral.

Mortgage loans can include types of loans such as new home purchase loans, used home purchase loans, home construction, extension, modernization or renovation loans, and free use loans, but also debt settlement loans.

Financial institutions work with personalized mortgages

Since all Hungarian financial institutions work with personalized mortgages, which are always determined by the value of the real estate offered, it is worthwhile to look closely at the banks offering mortgages, as it does not matter at what time and at what price.

Provides the debtor with a long-term repayment opportunity

Provides the debtor with a long-term repayment opportunity

A mortgage can be cheap because there are differences between them. When Can a Mortgage Loan Be Cheap? First of all, if it provides the debtor with a long-term repayment opportunity, or if the monthly repayment installments remain fixed over the long term, but at least show only a slight increase. The client is well-known if he / she knows in advance that the installment payment for the given month will be the same the next time.

Since we offer a real estate collateral to the bank when taking out a mortgage loan, it is easy for most domestic financial institutions to obtain such a loan, because in such cases the credit assessment is simple.

Tips if you plan to save in dollars

cash

Do you want to save ? Do you plan to open a dollar savings account ? Then these tips will be of great help! Pay close attention if you plan to save in dollars .

Save in dollars only if you are completely sure

Save in dollars only if you are completely sure

And you have to keep in mind that what is recommended by experts is to save in local currency since the expenses you will have with your savings will be made in this currency – usually.

If you chose to save in dollars you should consider that the value of this currency is not predictable. This means that if you want to change currency, at some point, the exchange rate can play in your favor or against.

When to buy dollars?

When to buy dollars?

If you have decided to save in dollars even when the currency in which you receive your income is not this, I advise you to change your soles for dollars in the morning. The price of the dollar, in the afternoon or on weekends, when there is not so much movement, is usually higher .

Do not change large sums

If you have doubts about currency movements do not exchange large sums of money for this currency . I advise you that although you have a dollar savings, if you have the opportunity, you also save part in soles . So your money will be safe in case of a sharp change in the value of the foreign currency.

Compare offers well

Compare offers well

It is true that banks in Peru do not offer high interest on account of savings in dollars , in contrast to accounts in soles, but if you have decided to save in this currency, I advise you to compare the offers well. Evaluate the interests that a bank will pay you as well as the additional benefits and decide for the one that is most convenient for you.

Have these tips served you? It is always better to save in the currency in which we receive our salary. And it is in this with which we carry out our expenses. This way you will lose less in the currency exchange. What do you think?

Pay the lease vs. the mortgage loan installment, which one suits me?

credit loan

In times when all prices are going up, is it worth going for the dream of housing or is it better to stay in a lease?

These are some points that you should keep in mind

credit loan

In the last year, house prices have started to rise and that has raised the question of whether it is worthwhile to buy a property or stay in a lease, and if so, until when.

It is true that due to the current circumstances

It is true that due to the current circumstances

Now you have to be much more careful when borrowing, which involves meticulously assessing what mortgage credit suits you. However, this does not mean that you should say goodbye to your own home.

The general recommendation is that if you are in a solid employment situation, opting for a housing loan will only be convenient if you have a good percentage of the initial fee, that is, from 45% of the total value. This is because when you get the credit, the fees you will pay will be similar to what you would pay for a lease, and since you are already living there, the house pays for itself.

However, you should be very careful with interest rates

However, you should be very <a href=careful with interest rates” />

Since if you choose an option that does not suit you, even if it is a point of difference, it will have a strong impact on the total amount you will pay, because it is a debt that in most cases lasts up to two decades.

If you do not have savings, it is best to wait and seek to save a percentage month by month; also, seeing ways to invest that money will make it grow gradually, bringing it closer to the desired amount. While saving, research very well about the property you wish to purchase, so prepare to be a good buyer.

Your first credit card: 5 tips to choose without regrets

Choosing a credit card does not have to be an odyssey, but it is necessary to consider some points that will not only save you time, but also prevent you from regretting in the future.

There are currently many options on the market: those issued by banks, those issued by department stores, those that earn miles, those for young people, etc. How to know which one is best for you? There is no complicated formula, basically, review your profile and your goals.

 

Take into account your income level

Take into account your income level

First, your income level will show which cards you can access. The majority have as a requirement a minimum amount of income that you must receive to qualify, so the first thing you should do is remove from the list all those that exceed the amount you receive monthly.

 

Review interest rates

Review <a href=interest rates” />

The interests of credit cards may be among the highest, but there are definitely differences between them, so it is ideal that you verify the alternatives. Keep at least three in mind and evaluate what each one offers. This will be crucial for the time of deferring your purchases in a certain number of installments, because that is when you will start to generate interest. On the other hand, if you are completely sure of being a totalero customer, who pays everything in a single installment, the interest rate is not the primary thing.

 

Look for benefits that fit your profile

Look for benefits that fit your profile

Depending on the type of card different benefits will appear. For example, some cards designed for young people offer discounts in clubs and bars, while others designed for clients who like to travel, offer miles accumulation. Consider what benefits are most important to you and which ones you could get the most out of, especially if it’s discounts.

 

Ask for membership

Ask for membership

The cards usually include annual membership fees, that is, an additional payment once a year for using it, but in some cases this can be eliminated under some conditions such as using it every month, consuming certain amounts, etc. Check carefully about this, as the charges can be quite high.

 

Difference between commissions and insurance

Difference between commissions and insurance

Find out about the additional fees charged for the options you have in mind, so you will know for sure how much you are paying. In addition, it is normal that they grant you mandatory insurance, but many times the entities are looking for you to purchase additional products, so you should know them carefully before making a decision.

Consider these points and you will be ready to find your first credit card. Remember, if you need to compare the alternatives, Will Bond is a reliable site to do so.

It doesn’t really matter which bank you go to for a home loan

home loan

If you can believe the statistics, on average, a Hungarian adult has a financial savings of HUF 7 million. But there is also one who can save hundreds of millions of forints, and who does not even have one forint to save. Adding to this, house prices have risen sharply over the past three years, many have no choice but to borrow money if they want to own a home.

Only 7 out of a hundred people are open to changing banks

bank loan

that is, the majority would rather remain with their own account manager, although in the vast majority of cases they would be able to obtain a more favorable home loan if they dared to switch and transfer their finances to a new bank.

According to the central bank, the intensity of competition between banks could be improved, but there are still many ways to obtain more attractive terms on home loans.

The value of the property, the size of the loan amount and the income essentially determine the room for maneuver. First of all, banks are no longer lending as much as 80 percent of the value of the property, which means that they need at least 20 percent of their own funds. Secondly, according to the central bank’s decree, the amount of the repayment can not be more than 50 per cent below 400 thousand HUF, and above 60 per cent.

Each bank uses different customer ratings, but generally speaking, it does

The stronger your financial background, the better your bid

The stronger your financial background, the better your bid

For example, if the amount of the home loan requested is low compared to the value of the property or the monthly installment payment is low compared to your income, you can definitely rely on a good credit rating.

Whether it’s a very cheap but fast loan repayment loan or a fixed-term home loan, you can get an interest rate discount of 1-1.5% under the following conditions (one or more).

(Of course, only if you can meet the conditions continuously, because if you are temporarily unable to meet it, you may lose the interest rebate temporarily for that period.)

  • A specific income should be transferred to the lending bank each month. It may be a relief if the bank accepts not only wages but also any credit to the account.
  • It is often the case that the lender requests an active bank connection, such as credit card transactions, direct debit orders and the like.
  • Product tying is also common, and you may get a discount if you also buy other products from the lender (such as home insurance, life insurance, or credit insurance).
  • If you only need a very low loan compared to the value of the property, you can automatically get the discount (low loan coverage ratio).

We’ve collected the most affordable offers available at Bank Monitor now. As you can see, even with a $ 8 million home loan, there can be big differences depending on how much you are taking the interest rate risk.

An interest period within a year provides the lowest installment, but in return you have to assume that the interest rate on the loan and thus the monthly installment will change every few months. The loan in the example would take 20 years, which is long enough

Increase interest rates significantly compared to the current situation

Increase interest rates significantly compared to the current situation

That is why more and more people are taking out loans securing longer-term interest rates. In this case, the bank assumes the risk of interest rate changes. We have chosen a 10-year interest rate fixation, meaning that the installment will not change for 10 years. Instead, for example, a one-year interest-bearing loan will change nine times after it is launched – a disadvantage we expect.

The difference between the average APRs is 3.2 percent, which means that a few percent higher interest rate base is enough to close the monthly installment gap. Therefore, before borrowing, it is worth thinking about how much it is worth to start with uncertainty at the outset. There are many arguments that, in the interest of safety, it is still worth paying temporarily for more, because at the end of the term you will not be sure you will be paying less overall.