If you value saving time and money, then before taking a loan it is definitely worth analyzing the ranking of cash loans.
Thanks to it, you can compare the offers of several banks and choose the best solution for yourself in one place, without leaving your home. Bank offers are different, so before you decide on any offer, you should compare them beforehand.
Cash loan is to simplify the purchase of money from a bank. The money in each bank is the same, so when choosing a loan, you should first look at the price, or installment amount. The ranking of cash loans allows you to easily and transparently compare many offers in terms of installment amount.
Three factors have the greatest impact on the installment amount:
It should be remembered that all insurance is voluntary and does not need to be used, and can significantly increase the cost of credit.
Many people who decide to borrow money do not even look at the ranking of cash loans , but blindly go to the bank where they have a personal account. They don’t even realize that they would get a much cheaper cash loan next door in a neighboring bank. Such people usually only look at the nominal interest rate of the loan, forgetting, for example, about the commission.
As it was mentioned, several factors influence the amount of the installment and thus the total cost of the loan. Banks are not charitable institutions and above all they want to earn. So they use a number of tricks that are designed to attract a potential customer.
When browsing bank ads, the largest font is usually nominal interest, e.g. 5.99%. A much smaller print is, however, information about the commission on the loan granted, which is e.g. 9.99%. And such a loan will be much more expensive than a loan with an interest rate of 7.99%, but a commission of 1.99%. Therefore, when looking at the ranking of cash loans, one should not look only at the nominal interest rate, because it is not entirely reliable.
Banks will always require a valid ID (ID card or passport). In addition, you will need to document your income. Banks, which take into account the ranking of cash loans, give clients several options: a statement of earnings, account statement, confirmation of the influence of remuneration on the account, RMUA print, PIT11. The customer decides which document is most convenient to present to him.
Banks mainly look at 2 aspects: do we have creditworthiness and what does our credit history look like. Creditworthiness depends on the amount of income we receive, the number of people in the household, the cost of maintaining the household and the amount of current credit obligations.
Each bank calculates creditworthiness differently, which is why it is often the case that we will not get a loan at Bank A and Bank B will offer us a loan of USD 50,000. However, credit history shows how we have managed to meet our credit obligations so far, whether everything was repaid on time, or maybe there were any delays in repayment of installments.