LEARN HOW TO ASK FOR A BANK LOAN
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It is January, epoch in which Pocket is weakened by all expenses during the holiday season. If you was farsighted, perhaps does not have any problem by addressing common economic commitments of the season, but where it has not been as well, a bank loan can be the solution to alleviate the financial commitments.
It recommended caution to apply for a loan of this kind, since, according to figures, “the situation of payment for a large number of people who have contracted a scheme of this type in recent years has complicated”.
From June 2011 to June 2012, personal loans granted by the banking increased 31%, going from 5 million to 6.5 million, while the first half of the 2013 it was 10.7 million credits.
It points out that in the first half of 2012, the number of overdue credits amounted to 469,000 and in the first half of 2013 has tripled, to reach 1 million 405,000 loan.
“This reflects a problem of insufficiency of income or above for the economy of many families borrowing”.
HOW TO OBTAIN IT
For a personal loan, you just have to go to a bank branch, request the required amount, which will be proportional to their monthly income, and meet the requirements of paperwork and checking, i.e. to submit proof of income for the past two months, residence, credit history and personal references.
The Agency indicates that there is currently a significant number of institutions offering this financial scheme and, therefore, also a great variety in their payment terms, their interest rates and commissions.
For example, you can find a personal loan of 20,000 pesos for a term of three years and similar conditions, with a Total annual cost that can range from 22.9 to 126% or more.
Because of these differences there may be between different financial products, it is recommended to compare and select the best choice according to the CAT, which – in the example already mentioned – can mean you one lower monthly payment (1,200 to 1,800 pesos), and also one amount less than the end of the term (27,400 against almost 35,000 pesos).
Promotions of small payments may sound attractive, but have to make accounts on monthly terms, as well as deadlines, since the loan is much more expensive in some institutions than others. “Credit is not extra money, this allows us to get out of debt, an emergency on a temporary basis that is going to have to pay in the future. Those payments won’t be from elsewhere than the own income we have”.
That credit is not expensive:
*Not only to choose the best option, but also consider if you really need to credit and if it is the best time to purchase a payment commitment.
*Be careful about the amount to pay each month and the amount finally paid by the debt acquired with respect to the use that gives the money.
*Remember that credit is a tool if you know use can be a good choice to enhance your life.
*Go to an authorized financial institution and do not trust those entities that offer personal loans easy, without talking to the credit bureau or ask an advance payment.