Found your dream car, a cozy country place or booked your holiday trip? Whatever you need money for, you can apply today and have them in your account shortly.
Taking a loan from the bank was a difficult task in the past, but today there are several shortcuts to take. Before you borrow money, we recommend that you read more in this bank loan guide.
You decide what the money should go to
There are basically two different types of loans; loans with collateral and loans without collateral. To get a loan with collateral, you need to pledge any of your assets, such as your home. If you miss multiple payments, the lender may, in the worst case, sell your assets forcibly.
When you take out a loan without collateral, it is instead the future ability to pay that is assessed, that is, your income in relation to your expenses.
When you borrow unsecured, the bank has no point of view on what you are using the money for. You may want to do that renovation of the kitchen you always dreamed of, buy a car or boat or why not go on vacation? It’s all up to you. Many also choose to settle smaller loans and credits by taking a single loan at a better interest rate.
How do I get the lowest interest rate on my bank loans?
Many people are obviously wondering how they can get the lowest interest rate on a loan from the bank. The simplest answer to the question is – compare with several lenders! Different lenders have different terms and assess your finances based on their criteria. In addition, there are newer lenders who are prepared to take higher risks and provide lower interest rates. Increased competition in the loan market is pushing down interest rates and fees on loans.
Comparing loans and loan terms yourself is a very tedious process. Just the idea of hard application forms or long telephone queues causes many to give up.
Good Finance has therefore developed a comparison tool to increase the chances of borrowers being matched with a good loan. By forcing lenders to offer you their best deals, Good Finance helps you get the best possible loan terms and interest rates. It’s simple, free of charge – and you get answers quickly!
Can I redeem the loan early?
Yes, you can redeem your loan at any time. Should it be that you no longer need or want the money, you just pay back the loan. It costs nothing extra and you can do it anytime you want. You can also pay off parts of the loan early.
Can I change my bank loans to a collateral loan?
If you already have several bank loans or other credits before, you can choose to combine these into a single larger loan. The benefits of collecting their loans and credits are that you get a more favorable interest rate, you avoid more fees and invoice fees and better control of your finances. In addition, you can choose a longer term on the loan, ie you pay off the loan for a longer period. This way you get a much better economy every month and can make something more fun for the money.
A big advantage of collecting loans is that your finances look more stable. A person who has many small credits gives the impression of having poor financial behavior. Lenders penalize a person’s irresponsibly managed finances with a poor credit rating.
A bad credit rating can make it difficult to get a new loan. If you choose to take out a collateral loan, it shows responsibility, because you are taking hold of your finances. You get control over your costs and the stress over your finances decreases.