A large number of citizens who draw credit obligations at least once in their life asked if it is possible to save on credit?
The answer is unequivocal — yes. The correct approach to the choice of creditor and the terms of the contract will allow you to significantly reduce the cost of financial institutions.
In our article, we will look at various ways of savings, and also tell me how to apply them in practice?
It is necessary to contact the credit institution where funds are provided under a low interest rate. This statement is the most popular among citizens. On the one hand, this is true. However, on the other hand, it is absolutely wrong.
In addition to the interest rate, when choosing a loan product, it is worth considering the additional services of the bank. First of all, it should be understood that the final overpayment of the loan reflects not only the interest rate, and such an indicator as a PSK (that is, the full cost of the loan).
Psk includes all the costs of the borrower to receive and maintain credit debt. Including the expenses for the insurance policy, additional commissions, which are provided for by the loan agreement. That is, the interest rate is just one component of PSK.
The definition of the most profitable loan product should be based on several conditions.
The above parameters are not exhaustive, so when making a loan it is worth clarifying the bank possible conditions in accordance with individual proposals.
You can allocate 3 main tricks that are available in most banks.
There are documents that are optional, that is, the bank is ready to provide a loan for 40 thousand rubles without confirmation of income. However, this does not mean that the help should not be taken, the more you provide documents to confirm the solvency to the bank, the smaller the risks of non-return. Accordingly, you can offer a more favorable bet, for example, 1-2% lower than without reference.
Such services can be attributed to the design of the insurance policy. However, if we are talking about the loan on bail, mortgage or car loans, then insurance here is mandatory.
Often, the acquisition of additional services, including the insurance policy, is a more advantageous offer than without them. Therefore, in this case it is better to produce an individual calculation.
If a potential borrower is a salary client of the bank, or receive other social payments to the card of this bank, the lender can offer it an individual proposal with more loyal conditions and a reduced rate. Therefore, such financial institutions should be addressed in the first place.
This can be done in just two ways:
Both options have certain nuances. First, they should be applied only after the expiration of a certain term of credit obligations, for example, not earlier than 6 months after the loan design. Secondly, to reduce the interest rate will be possible only in case of a clear compliance with the schedule of monthly payments.
This procedure is primarily aimed at changing the current terms of the loan agreement. In most cases, borrowers use this procedure to increase or decrease the term of credit liabilities, but it can also be used for interest rates. This method is more popular with long-term loans with the presence of pledge.
Restructuring is the right of the lender, but no duty. Therefore, in the request of the borrower may refuse without explaining the reasons. This action does not violate any legislation. Therefore, it is always worth being ready for a negative decision of the creditor.
Refinancing, in turn, provides a slightly different procedure. This is the provision of cash in debt with one financial institution in order to repay the current loan in another, on more favorable terms.
However, it is worth understanding that the choice of refinancing service, according to its type, is very similar to the definition of a more profitable loan product. That is, when decorated it is worth considering not only the interest rate, but also additional costs.
The main thing is carefully evaluating your solvency and read the terms of the contract, which, in fact, are simple as a white sheet of paper. We hope that this article will help you make the right choice, and do not overpay a large amount for a loan.
Look for us to social. Networks: