Installment loans

Best installment loans online

The average APRC for consumer loans this year has fallen to 10%. Over the last 7 years, loans have nearly halved. What is a significant drop in interest rates and fees? And what trend do you expect in the future?

In connection with the topic of cheaper loans, we provided an interview with Radio Zet.

Online installment loans (instant approval)

The average APRC for consumer credit is now at 10%, with 7% being easily reached. There is no need for too much bargaining – just ask the bank to ask for more than one bank and not to get it right after the first offer. The reason for discounting is mainly growing competition (we have over 30 banks on the market) and more willingness of clients to change banks for better conditions.

Payday installment loans

In 2010, consumer loans were 20%. Especially due to growing competition from modern low-cost banks (American Banks), rates have fallen to just 10% now, or 7 years in half. It’s not just an interest rate. Banks no longer require credit insurance or the obligation to have a current account with a bank duly charged. We still need to have the account there, but it is usually free of charge today. The RPSN now approaches the interest rate in most cases. At the same time, the difference was 5% a year ago.

Best installment loans

Even though mortgages are currently rising slightly (a five-year fix of 0.3% over the past two months – mainly thanks to new legislation that has considerably strengthened consumer rights), loans continue to be cheaper. The best deals on the market around 7-8% are stagnant, but especially the big banks have significantly reduced. 8% now gets every new client out of the street, it does not necessarily have to be a proven client who has a history built in the bank. You have to repay in time and there is no reason not to provide such a rate.

Monthly installment payday loans

As far as interest rates are concerned, there will still be a great differentiation based on the creditworthiness of the client. Early paying clients will achieve even better conditions, and on the other hand, no one will be able to lend much to the clients with registers or no official income. This is mainly due to the new consumer credit law, which came into force at the end of last year. Newly, if the bank did not thoroughly verify the client’s ability to repay, it would be possible to cancel the loan agreement from the outset. The bank would have to repay the client already paid interest and the client would repay the principal according to his options and interest. This bank will not take the risk.

Personal installment loans

Banks today suffer from a surplus of money. They like every client they can borrow money for. Both types of credit are attractive to banks. Both mortgages and consumer loans. Mortgages are more demanding (much money is borrowed for a long time, often for a lifetime investment, the pledged property needs to be valued). Interest margin is around 1.5-2%. It’s a smaller yield, but almost risk-free and sure for a long time ahead.

Long term installment loans

Consumer loans are significantly more risky (and therefore potentially more profitable). Although it is lending less money in a less regular way, it is easier to process, for a shorter period of time (it is enough to check the client in the debtors’ databases, check his total liabilities and verify the receipt and pre-approval of the loan can be in the order of tens of minutes). But consumer credit is inconceivable in terms of consumers.

Installment loans for poor credit

We should borrow only for investment, not for consumption. So something that will benefit us in the future. The value of the investment should ideally grow. A good example is your own roof over your head on a mortgage. On the contrary, borrowing for holidays, gifts for Christmas or new TV is extremely irrational.

(Short time) payday installment loans online

Every debt represents a risk. We can lose a job, an accident or another unexpected life event can happen. And being indebted and risking for such petty things is totally useless. Certainly, consumer credit can help us finance the reconstruction of our own dwelling, or we may be able to start our own business. Unfortunately, the majority of borrowed money through consumer credit is not used economically rationally. Those who are interested in such loans are not among the best clients.