Online personal loan
5 tips to find the most suitable solution
To choose an advantageous online personal loan suitable for your needs, you need to take some steps to avoid unpleasant surprises. First of all it is good to evaluate the TAN, the “Nominal Annual Rate” of pure interest that applies to the loan. This is a value expressed as a percentage used by the loan provider to establish the amount of the monthly payment to return it. The lower the TAN, the cheaper the loan is.
Each loan also includes additional costs that can often increase its cost. Together with the TAN they form the APR, the “Annual Daily Interest Rate”, which expresses the real cost of a loan as a percentage. They are called that because they have nothing to do with repayment or interest charged. These constitute the price of financing management services. The most important are: “preliminary investigation” and closing costs, stamp duty, “collection and management fees”. Finally, we remind you of the costs of periodically receiving communications at home and of any insurance.
Many loans provide insurance coverage to protect the customer in the event of insolvency if certain “negative” events (eg illnesses, unemployment) should occur in the future. Membership must be signed when signing the contract. It is generally optional but can also be mandatory, as is the case with loans with salary-backed loans. In this case it is good to be even more careful, because the insurance always has a cost, often considerable, which is transferred to that of the installment, raising the amount up to 6%.
To obtain a personal online loan more easily it is advisable to extend the repayment duration, so as to have more installments to be paid but of a reduced amount. In fact, those who have to provide the loan give a great weight to the customer’s ability to cope with the economic commitment over time.
For a financial company, what counts is the ratio between the amount of the installment and the income received, which must not exceed 30% of the total.
Even reporting a valid guarantor it is possible to have a personal loan online with greater probability. His presence is not always mandatory, but it helps a lot. By signing the contract as guarantor, he assumes the responsibility of guaranteeing the repayment of the loan. If the one who obtained it should no longer be able to return it, he will pay off the debt.
If you need a loan, you can request a personal consultation or a free quote by filling out the form alongside.