Banks are dream sellers from a certain point of view. Indeed, they give you the opportunity to finance a personal project with these many forms of credits conso. Whether you want to buy a house or vacation in an exotic country, you can do this by borrowing what you need from its institutions. In spite of this social object which can seem to be very altruistic, one should not subscribe to a loan lightly.
Who says loan, says refund
Know first that a credit agency does not give you money for your beautiful eyes. Indeed, you will have to repay what you borrow with the sweat of your forehead. After receiving your credit, you will have to pay more or less heavy monthly payments depending on the amount borrowed and the conditions of the contract.
This monthly repayment will not only serve to cover your loan, a portion of the amortization is collected by the bank as interest that is calculated according to the rate you have negotiated. In this context, you must certainly think that these interests directly affect the amount of your monthly payments.
In fact, your deduction is more or less false since it must also take into account the repayment period. The longer this one is, the less your monthly payments are high. However, you owe money for more time at the bank. So your borrower gets more interest.
Because of this rather complex equation, most individuals subscribe to credit only when needed. Anyway, this type of banking is very useful to buy a house or a car.
Consumer credit the precautions to take
Consumer credits are the forms of loans dedicated to you and me. However, these subscriptions can sometimes put you in financial danger. Some banks do not abide by the law by charging rates higher than wear rates or by not providing enough transparency to these customers.
In order to avoid subscribing at these establishments, we invite you to know the laws in force regarding credit. To do this, you can visit many specialized sites on the internet or download the texts. However, you can also use an online comparator like moncredit.org when looking for your consumer credit. These tools only filter subscriptions from institutions that comply with the law. In addition, they can help you find the best formulas in seconds.