Requesting personal loans is a complicated job, there are too many things to consider. Our goal, whenever we seek funding, is to get the money as cheaply as possible and with the best conditions, for that, we must know some steps we have to follow to get the best deals on loans- loans-n-loans offers payday without credit check.
What steps should we follow?
1 Make a detailed budget: whatever our project is, we must have a budget of the amount we will need. If we request more money from the account, we will pay more interest.
2 Do not seek funding only in our entity: we must seek funding through various sources, so we can see what offers and conditions the market offers and know if our bank is offering us a good loan
3 Learn: ask all the terms or conditions that we do not understand, anything that is not clear enough must be explained. Does a 0% loan mean that it is free? Will the study commission charge me even if they do not accept my application?
4 Compare: find several sources of funding and present our case so we will know which of them can offer us a better offer.
5 Look at the APR: the Annual Equivalent Rate shows us the total to be paid taking into account the different commissions that will be charged to us. Many entities offer loans at 0%, that percentage refers to the TIN, which does not take into account all the expenses, only the monthly or annual interest payable, so the TIN is not a good way to compare personal loans.
6 Take into account the link: in addition to commissions, many entities require a minimum of connection (insurance, direct debits, card expenses), if these links have associated expenses; For example, a payroll account with an annual fee, this expense will not be included in the APR. For example, with the ING Orange Loan, we can get up to € 40,000 at 7.18% APR without the need for any linkage or commission. Simply having an account in your entity we can access the financing we need.
7 Do accounts: interest is a large part of the total to be paid, but we must also take into account the term we choose. A small monthly payment over a long period will, in the end, be much more expensive than a larger monthly payment for less time.
8 Read the fine print: always before signing anything, we should read the contract carefully, taking into account all the variables that we have explained before.
9 Know our profile: depending on our profile we can request personal loans from a lender or another. If, for example, we are about to retire, to approve our loan we must choose a shorter return period. If we are not sure we can get the funding we need, we can download the free guide “How to increase the chances of getting a credit” to know our real possibilities and to whom to apply for a credit according to our profile.
10 Negotiate: banks are more flexible than private companies to renegotiate conditions. If, for example, we have many links with our entity, it is in their interest to offer us more advantageous conditions rather than see us leave.
With these simple steps, we can make sure we have chosen the best loan offer for our project.