The best comparison of cash loans in banks. Is there a comparison of cash loans that shows the best cash loans and the cheapest?
A comparison of cash loans is to help find a bank in which we will take a cash loan. Every best comparison of cash loans is both a search engine and a loan calculator. It is true that it does not accurately calculate the loan installments (no calculator does it, because the amount of installments depends on the individual assessment of the customer’s creditworthiness), but it allows you to estimate such installments.
In the comparison options, you can select:
If you are looking for the cheapest cash loan or cash loan, then no comparison of cash loans shows credit ranking. It allows you to read the information on the latest loan proposals in banks, which are of a general nature.
As well as ANY credit comparison platform does not include all banks, and their number is limited to a few (a dozen or so).
The best comparison of cash loans distinguishes:
Above it was mentioned that the loan comparer is not a ranking of the cheapest cash loans. What does it actually mean that cash loans are cheap?
Cheap cash loan is not the loan that has a nominal interest rate of 0%, because it is not the only cost of the loan. The interest rate can be set at 0%, but the commission at 30% on the loan value. And we borrow 5,000 PLN for 9 months… Will it be a cheap cash loan?
When looking for a cheap cash loan, you should pay attention to all costs related to the loan: interest and non-interest loans.
The best method to compare loans is to compare the APRC of loans. This is the Actual Annual Interest Rate including both the interest rate as well as the commission, insurance and other costs. The lower the APY, the cheaper the loan.
The APRC indicator depends on the loan amount and the loan period. Using the rankings and the best comparison of cash loans, we will not find accurate APRC calculations. Why?
Each bank loan proposal is of a general nature. When contacting a bank regarding a loan, the bank examines our creditworthiness, creditworthiness and creates a scoring assessment. Only then does he present us with an individual loan offer. Better rating = better offer. In addition, we can negotiate a loan offer.
The total cost of a cash loan is also affected by the type of installments (equal to decreasing), the date of payment of the loan and the date of payment of loan installments. And if we have variable interest rates, then in the case of changes in interest rates, the cost of the commitment will also change.