On this page we offer you a detailed comparison of various bank and non-bank loans and credits. We have compared nearly 70 different financial products for you – American mortgages, home loans, car loans, various special-purpose and non-purpose loans. Choosing the right or best loan is certainly not easy. However, here are some helpful tips on how to find a loan and what to look out for before you sign a contract with a financial institution.
What is the most advantageous loan or credit?
The answer to this question is not easy. This is mainly because everyone is looking for something a little different. Someone needs to borrow money for a specific purpose (like a car or a home). For special-purpose loans, banks (and other companies) offer more favorable terms. Someone else is looking for a loan where he can use the borrowed money freely. For non-purpose loans, different conditions apply, they have different interest rates or related fees.
Please note: All information and data in this overview are for information purposes only and are valid as of the date of publication. On the basis of these data, no loan or credit can be required from any of the referenced entities. If you encounter any errors or inaccuracies in the information provided, please contact us via the contact form.
What you should be careful about when looking for a loan:
- The loan approval fee is charged by almost all banks. Usually, it ranges from 0.4% to 2% (paid only when the loan is approved and is a percentage of the total amount borrowed, the banks automatically deduct it from the amount they will pay you). Sometimes a minimum or maximum amount is set for this fee
- Current account at the bank where you borrow – especially banks for most loans and credits require you to have a personal account with this bank for the entire repayment period. The banks usually deduct the payments directly from this account. If you have a commonly used account with another bank, fees for another account with another bank can make your loan pretty expensive
- Loans without proof of income – even with a bank and especially with non-bank loans, it is possible to get money without proving your income (confirmation of income from employment or tax return with self-employed persons). These loans without proof of income, however, have a much higher interest rate and also higher fees for loan approval or management
- Loans without a register – these loans are offered primarily to non-banking companies. A loan without a register is usually a loan in which a non-banking company does not verify the client in a non-banking register. Even non-banking companies often consult the SOLUS register.
- Cash loans – Provident offers this type of loan. It allows its clients to get cash in hand, directly from a sales representative of this company (it may be useful when executing a bank account). For this type of loan, however, you pay more times the interest than conventional loans and loans
- American mortgage or pledged loan – with this loan, you can pledge your property to a bank (or even a non-banking company) for a loan. In this case, banks usually lend up to 50% of the estimated price of the property. If you can prove your bank’s income (at the minimum required amount) in addition to the mortgage, the bank can lend you more – but for this type of loan you can get 70 – 80% of the estimated price
- Early repayment – rarely banks (or even non-banking companies) allow early repayment free of charge. Almost always a fee is required, often 1 – 4% of the outstanding amount. If you plan to pay your loan sooner, then choosing a bad loan can cost you a lot
- Loan Price Insurance – Almost all banks allow you to arrange additional insurance (against inability to repay, the risk of personal injury with permanent consequences or death) in addition to loans and loans. Sometimes this insurance is already included in the price of the loan. If so – it can save you considerable money again.
How to collect a loan?
Surely it is not worth rushing anywhere. Even if you need to get money very quickly, so to speak immediately, it is certainly not worthwhile to accept the first offer you find somewhere on the Internet. A little time spent searching and comparing different financial products can be more than worthwhile.
The basic rules for secure and advantageous loans certainly include the following:
- Never pay anything to anyone in advance (no reputable lender will ask you to pay any fees in advance)
- He never provides his personal data to anyone before entering into a contract
- Do not look only at the amount of interest you will pay on the loan, but at all fees – for approval of the loan, for credit management, for credit account statements, for account management in the bank and more
- Check what happens if you are late in paying the installment, and you may be subject to sanctions.
- Check the conditions for early repayment of the loan
- Never sign anything under pressure or in a hurry. If you do not find the contract or any other document that you are supposed to sign, take your time to think or consult a lawyer (or at least some other person).