Loan consolidation : Is it the best option?

If you are a customer, you can apply for a loan directly through the Internet using your bank code. The loan will be paid directly into the account you want and will be repaid in regular monthly installments. If you are applying for two people over 18, they can apply for a joint loan. There is a personalized contract for the repayment. If the need arises, it is possible to get two months off for one year without sanctions.

Tarifs

Tarifs

The interest rate of the Flexible Loan is the 3-month interest rate at the time of the agreement, with a margin of 8%. The marginal interest rate is essential for the bank to make a profit on its credit. At the same time, it aims to reduce the risk for the bank. It thus replaces the guarantee on normal loans. For example, if the nominal interest rate is 7.67% and the loan period is 60 months, the loan amounting to USD 5,000 will have an annual interest rate of 11.3%. If the loan is needed for more than $ 50,000 or if the lender has valid collateral, such as a condo, summer cottage or other significant property, he or she may apply for a standard secured credit. In this case, interest rates will also be lower.

In addition to interest rates, also has other costs that should be taken into account. These include credit opening fees and account management costs. The opening fee varies according to the amount of credit. For example, for a loan of USD 2,000 to 5,000, the opening fee is USD 125, whereas for a loan of more than USD 25,000 it is USD 300. The account management fee is paid monthly. With automatic charge, it is $ 4.50, and without automatic charge is $ 7 per month. A taste reminder, if you have to receive one, will bring an extra $ 5 per piece. Also, changing your payment plan or amount of credit will incur additional charges of between $ 7 and $ 100, respectively.

The loan will be repaid monthly. There shall be no two consecutive months of grace period. If you have the talent and the enthusiasm, you can pay off the loan at once.

Payment issues

Payment issues

advises you to contact us as soon as possible if you have any problems with your payments. This will avoid additional charges and defaults on collection. Possible remedies for payment problems include, for example, changing the payment system or a grace period. Therefore, it is a good idea to make arrangements with the bank in good time.

However, if the invoice is not paid for one reason or another, the borrower will be reminded first. This entails an additional cost of USD 5 for the payer. If the invoice is not paid despite the reminder, the invoice will be collected. Debt collection agencies charge who collects what they do. If the invoice remains unpaid after that time, it will go to the checkout. The withdrawal will result in an entry in your credit history. It usually leaves there after 2-4 years. A credit default order can have a variety of effects on your life, such as buying a rental home or opening a telephone connection, not to mention taking out new loans. therefore reminds you of your own judgment before taking out a loan, as well as a sensible payment plan. Also the extra costs involved in borrowing are worth considering.

What to consider?

What to consider?

Therefore, it is worthwhile first to consider all the costs included in the loan. For example, the nominal interest rate is not the interest rate that the loan will eventually receive. So it is worth comparing the actual APR when you are borrowing. Needless to say, the length of the loan period also affects the amount of expenses. All costs are worth taking into consideration, which is not always easy to compare, with some banks reporting costs as percentages and others reporting amounts in USD.

The monthly payment will vary, depending on how quickly the loan is repaid. With , faster loan repayment means higher monthly payments. Taking all of this into consideration is often a very complicated task. So it makes sense to compete for loan consolidation through this site, rather than run at bank branches. This saves you both the hassle and, most likely, money.

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