Financial loans: discover 5 types and their advantages

When does an unforeseen event arises or when money insufficient to buy? what you need an option asks for a financial loan. There are more and less affordable loans, in addition to more and less expensive loans, and it will depend on what type of resource it will be. borrowed and the guarantees offered to the creditor. Now let’s see 5 types of loans and the advantages of each one.

 

Payroll loan

Payroll loan

Commonly requested by active civil servants, pensioners, employees of private companies or retirees. In this mode, money is available very quickly, usually on the same day or the next business day. How is the guarantee given the payroll margin itself, the risk to the creditor very small, especially in the case of retirees, pensioners or civil servants, and this means that interest rates are very low compared to other modalities. However, isn’t it so simple to renegotiate values ​​precisely because they are linked payroll?

 

Bank credit lines

It is common for banks to offer credit lines according to the profile and relationship of each customer. Values ​​j  they are pre-approved by the bank and have slightly higher interest rates than the payroll loan, but have minimal bureaucracy. Only it is necessary to formalize the option of obtaining the loan that is automatically available. Often, isn’t it is not even necessary to go agency, and the loan can be obtained through the institution’s internet banking service. 

 

Overdraft

Bank credit lines

It is one of the most expensive types of loan, as the bank has very little guarantee that the amount will be covered, though already make it available to you see in the extract itself. The amounts are usually not high, but you should avoid it as much as your interest rates are very high and can harm those who have already borrowed money. in the short term.

 

Revolving credit card

It is the most expensive type of loan for those who take it. Interest can reach 20% per month, depending on the institution, and they are due when you pay. you do not pay your credit card bill in full. If you choose to pay only a part of the total, what difference will it have the incidence of this high interest rate and, in less than 6 months, the initial debt is already Tue more than doubled its value. It is advisable that this credit line is accessed only in an extreme emergency when all other lines are already available. have been exhausted. 

 

Pledge

credit cards

Is the pledge also fast, convenient and not bureaucratic. It has attractive interest rates, but limits its value to a part of the pledged object, usually a jewel. One of the main advantages which can be obtained even when the customer has credit restrictions, that is, the pledge can be used to clear his dirty name in the square with low interest and little bureaucracy. However, if you do not recover the pledged asset within the agreed term, you still have to pay additional fees for auction procedures what will happen  So, just ask for it if you want. has a horizon of at most medium-term to recover it.  Of course, nobody dreams of borrowing money, but financial loans are very common and being informed about which ones are the most attractive in terms of interest and fundamental bureaucracy.

Leave a Reply

Your email address will not be published. Required fields are marked *