It would be a dream for everyone to borrow money from the bank and pay exactly the same amount that went into the deposit. Unfortunately, this is unrealistic because banks have to earn something from something. However, this does not mean that we can not look for the cheapest cash loan for ourselves. The story is on http://kelleypc.com
Why can we get to know a cheap cash loan ? Is it really after the bank offers very low interest rates? We should be quite careful when calculating the interest itself. Because it is not always a determinant of low costs that we will incur from the loan received. So instead, we should pay more attention to the actual interest rate. Why? Because in this coefficient we have included all costs such as commission, margin, and sometimes even compulsory insurance.
Which APY will be beneficial?
If we are to pay attention to the real interest rate, then we are probably curious about how much it should be. As a rule, cash loans stand out with an interest rate of around 8 to even 40%. I think, therefore, is already known to look at the lowest values close to 10 percent? If we need less credit, a free non-bank loan will be the best.
APY and commercial offer
At present, banks are obliged to present in the trade offer a specific real interest rate in the case of a selected sales situation. Such an offer includes, inter alia, the amount of the loan taken, the repayment period, the age of the borrower, the amount of own contribution, as well as its income. These factors, as well as many others, have a very large impact on the customer’s costs associated with the loan. One thing is for sure. The more we borrow, the less we pay. The same applies to the repayment period. The longer we pay off the loan, the more likely it is that we will pay a lot more interest than we would have decided for a shorter loan period. We will certainly find cash loan offers with an example APY without any problems in financial comparison websites. However, this does not absolve us of the details of the offer contained in the regulations of the bank chosen by us.