Is it possible to get a loan without high interest?

Often, “applying for a loan” the only way to clear your financial life and get your accounts balanced again. A common disadvantage of this type of request, however, is the fact that a good part of the loans is not free: in addition to the amount you pay. effectively uses, you still need to pay an extra amount that comes in the form of interest rates. Because of that, if you need a loan, It is important to look for options with low interest rates. possible

One of the big debts among those who take out a loan if It is possible to get a totally interest-free option. Unless you take money from relatives and friends and they do not cover interest, there is no interest-free loan, but there are options with low interest rates. See the options:

 

Why are interest charged

loans

When it comes to borrowing money from banks and finance companies, however, it is not a problem. to talk about the totally interest-free loans. This is because when lending money, institutions take a risk that payment may not happen. In addition, there is the so-called opportunity cost: will the financial institution be lending money that he could have invested in some investment and for which he would receive remuneration. Thus, the loan needs to give you a remuneration so that it is worth not to invest the money. Lastly, we need to remember that h inflation and today’s money worth less tomorrow and therefore, its value needs to be “updated”. Thinking about these factors, is it possible to understand why getting an interest-free loan is difficult. Despite this, it is possible to find loans at low or low interest rates, which reduces the total amount to be paid. See below for the main options.

 

Loans with friends and relatives

Loans with friends and relatives

The best known high-interest loan the one done with relatives and friends. what happens when you he asks for money from someone he knows and, when paying, he pays the same amount asked for. Like loan sharking crime, this ends up being a type of loan that normally free of monthly accruals.

 

Payroll loan

Is this type of loan usually granted to few people, as civil servants and pensioners or INSS retirees, but are you growing also in the private sector. Some institutions already have work with the option for workers in private companies. With the guarantee of the discount directly on the payroll, the risk of default lower and therefore interest rates tend to be lower than other options.

 

Online personal credit

Payroll loan

Part of the interest charged by banks and institutions, in general, is due to the fact that they need to pay for a whole structure. In the case of institutions that offer “personal credit” online, this ceases to exist, which reduces costs. The more personalized and rigorous evaluation of credit also increases guarantees for the company and, therefore, decreases interest even more. Good Lenders Credit also evaluated other companies online. In this post, are you provide other options for taking out a high-interest loan.

 

Refinancing

Both the “refinancing of real estate” and “vehicle” do as well as collateral for the loan. How does the institution guarantee that it will not stay without receiving case you after the installments, the interest charged tends to be even lower than the payroll loan.

 

Overdraft

H banks, private and private, that offer the use of overdraft without interest charges for 10 to 15 days. This may be an option if you are hoping to receive the salary or some income, for example. But It is important not to exceed the credit deadline because, after the benefit has expired, interest is charged for every day you pay. Did you use the overdraft and, known, the Overdraft one of the most expensive credits in the financial market.

 

Credit card

Depending on the point of view, the credit card can also be seen as a form of high-interest loan, makes a purchase today and can pay in a few days, without paying fees. But It is important to be very careful when using the credit card. If you fail to pay any invoice or pay the minimum, the chance to curl up in debt big then the most expensive type of credit on the market, with interest rates exceeding 400% per year! Use the card with financial planning, already thinking of ways to save to pay the bill on time.

 

How to get a high-interest loan

How to get a high-interest loan

What are you for have access to a high-interest loan It is necessary to take some care with the choice of the institution and the credit assessment, which may end up being more rigorous. In this sense, You need to choose the institution that offers the line of credit that best fits your financial needs. For the credit assessment, should you think about settling or, at least, “negotiating debts” to convey security and reliability institution. If that is not possible, then You need to offer an asset as a guarantee so that the financial institution does not lose out if you do not pay the loan the case of refinancing. Do simulations too important, as well as comparing different conditions.

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