When lending in many people the question: "Where can I find a loan with a low interest rate?"After all, no one wants to overpay.When choosing a bank and the loan program is necessary to pay attention to some nuances.
interest rate by itself does not provide comprehensive information on the total cost of credit, as in advertising, most likely, not all Commission announced, insurance and other payments.
Cash loan at a bank payment card, the goods on credit - a dilemma for the borrower.The choice of loan programs depend on interest.The most expensive type of loan - a cash loan.Low interest rate in this case will be balanced by additional commissions.Another thing - the goods on credit.This is the cheapest form of consumer credit, because in this case, the bank takes the goods as collateral.A loan to a bank card is also a rather interesting product.In most cases, the bank allows the use of concessional credit means a certain period (30-50 days).This is an opportunity to save on interest.
If you need a large sum of money for consumer needs, sometimes it's easier to use this product as a consumer loan secured by property.In this case the lowest interest rate.The loan is issued mainly for a long time, which will greatly reduce the burden on the borrower.
Consider often met "pitfalls" for borrowers.
hidden commissions in the form of loan insurance
Such insurance - rather, the sale of additional banking products rather than a necessity.Because, basically, the borrower is insured against accidents rather than from the non-return funds.
Monthly fee for credit management
Even if the interest rate is attractive enough - do not hurry.Check with your manager about the fees.As a rule, banks are offering loans with low interest rates, provided the organization at the expense of profitability monthly fee.The size of such a commission within the range from one to two and a half percent of the original loan amount and is paid monthly.
Commission under the loan
As a rule, this kind of commission is only used when a loan in cash.The cost of the commission depends on the conditions of credit and is measured as a percentage of gross loans.You can also meet the Commission for the withdrawal of credit money through the bank or ATM.
Commission for early repayment
Sometimes you can find in the bank credit products the commission for early repayment of the loan.This increases the cost to the borrower, in this case, a loan with a low interest rate is considerably more expensive than the equivalent in another bank with a higher interest rate.
Therefore, we focused on those points, which significantly affect the decision in the preparation of consumer credit.This makes it possible to calculate all the costs, advantages and disadvantages of loan processing for some program and really get a loan with a low interest rate, but not a huge store of overpayments.
