Do you have to apply for a loan money to your bank? Here are three interesting proposals to reduce the cost of bank loans.
1. Loan more to get a better rate
The best rate for a personal loan is often reserved for the most amounts. Sometimes it is better to borrow more to benefit from more interesting rates.
From your first monthly payment, do not hesitate to hurt your consumer credit in advance, at any time, in whole or in part, without any fees.
A bank or a credit institution can not contend with your claim unless the amount returned before the end of the loan is less than three monthly installments.
The lender will then re-calculate depreciation with lower monthly payments but is not allowed to increase the rate.
So you will keep the original. Do not reveal your intentions! Year
2. Avoid permanent credit
Regardless of whether it is a credit line or a merchant’s credit card, permanent loans are a real trap.
The costs associated with this type of consumer credit are very high, reaching – or even exceeding – 18% per annum, which is three to four times more than a personal loan that would cost you.
Use this type of loan only when absolutely necessary, for short periods: from two to three months, never more than six months.
3. Request to return more funds
To attract you, the line of the reseller loan usually requires you small monthly payments. They are voluntarily calculated to withdraw payments to accumulate a large amount of interest. With such monthly payments, you pay very little debt and almost interest.
In order to avoid falling into the trap, it is better not to subscribe.
Otherwise, do not forget that you have the option to pay as much as you want.
Do not settle for the minimum monthly payment in your account if you want to end the day. In short, borrowing smart from your bank, you have the advantage of lending a larger amount, avoid the loan and return as soon as possible.