Everyone knows that loans are issued at a certain interest rate. And having taken one amount, you will have to return many more. Is it possible to take out a loan and not overpay?
A loan is an alternative solution in a situation when there is not enough material resources or in their absence. But in some cases, the interest rate on loans is very high, which threatens the borrower with a large overpayment when repaying the debt. To avoid this, you need to know how to choose the best loan offer from the bank.
To take a loan with a minimum amount of overpayment, you need to accurately formulate for yourself the purpose of its appointment. If a loan is required for the purchase of a specific item or thing, for example, an apartment, a car, household appliances, then you need to give preference to targeted loans. The fact is that the funds of the targeted loan can be spent only for the purposes specified in the contract. It is worth noting that with this type of loan, as a rule, the interest rate is lower. To make several simultaneous purchases or in order not to be burdened with obligations and to have complete freedom of action, you must opt for non-targeted cash loans. It should be remembered that, in general, such loans have a slightly higher interest rate.
To be able to choose, it is necessary to draw up a "map" of the banks existing in the city. Having compiled a complete list of banks, credit unions or other financial institutions that provide lending services, you need to carefully study their offers. This can be done by calling the bank's hotline directly or by visiting their official website of the institution, where all the required information is fully provided. Studying the current offers of financial institutions, you need to pay close attention not only to interest, but also to additional payments, as well as existing commission fees. As a rule, such "pitfalls" significantly increase the amount of loan repayment. In order to get a loan, and not a refusal to grant it, you need to prepare in advance a package of documents that is necessary for filing an application. In the event that salaries are not paid officially, then it is necessary to find out in advance whether such incomes are taken into account in a financial institution.
In some cases, it is possible to provide not a certificate of income of an individual to the credit department of a bank, but a document signed by the employer in a free form. This greatly increases the chances of a positive result.
