Where can I get a loan for a small percentage? Low interest on the loan

Most of the population of Western countries have long been accustomed to exist on credit, and in Russia to live in debt every year becomes more familiar. For many people to accumulate the required amount, especially significant, is an impossible task - it is much easier to lend. In this regard, the question of how to get a consumer loan for small percentages, takes the minds of many of our fellow citizens. At first glance, this is not very difficult - he studied the proposals of banks, chose a smaller number and forward, to issue documents. In fact, in this matter there are many pitfalls. So let's figure out where to get a loan for a small percentage and not stumble over invisible barriers.

Who needs a cheap loan

First you need to decide for what purposes you need money. For example, if you want to take a large loan at a small percentage to purchase housing, then it is best to carefully study the proposals for mortgage lending - here and the rates are small enough and the repayment period is significant.

If you decide to purchase a car, it is best to choose a bank working under the program of preferential state car loans, in which case the state will pay a part of the interest for you. But if you decide to look for a loan for a small percentage for other purposes - repair, rest, a complete change of wardrobe or purchase of expensive household appliances, then this article is for you. First of all, study the proposals of banks and choose the most, in your opinion, suitable. If you do not need money urgently, you can wait for a holiday, for example, on the eve of the New Year, many banks offer reduced interest rates and various bonuses.

How to lower the interest rate

In the event that you do not want to wait, you can try to reduce the interest offered by the bank. For example, a low interest on a loan can be obtained from the financial institution where you have a salary card. Reputable banks often make concessions to their regular customers.

Another way to reduce overpayment is to arrange a loan for a good mortgage or to attract one or more guarantors. Try as far as possible to make out targeted loans - rates on them are always lower.

The best way to reduce the overpayment is to return money as quickly as possible, so before you sign a contract with the bank, ask if you can repay the loan ahead of time and on what terms.

If you need a small amount for a short period, you will get a credit card - almost all of them have a grace period, during which interest is not charged at all. Sometimes it takes up to two months, most importantly, to return money on time.

The ideal applicant for a cheap loan

Get a loan in cash at a small percentage if certain requirements are met is fairly straightforward. Here are a few requirements, the implementation of which will lead to a positive result:

• Draw up a loan for the minimum possible period;
• Collect the most complete package of documents;
• Give preference to targeted loans;
• Provide the bank with information confirming the level of your solvency;
• The plus is official employment;
• Give the bank a liquid security;
• Keep track of your credit history - carefully make the required payments;
• Try to cooperate with the same bank as long as possible - become a regular customer;
• If you take money to develop your business, be sure to submit a good business plan for the bank's consideration and bring a few guarantors.

Where to find a suitable offer

Today, the vast majority of people, studying the question of where to take a loan for a small percentage, turn to Internet services. Indeed, the proposals on the Web are incredible, but this method has both advantages and disadvantages. The first can be attributed to the fact that almost every site has its own loan calculator, with which you can calculate the amount of overpayment without leaving home. In addition, you can not only read the loan agreement, but also print it for consultation with a lawyer. Thus, you can study the proposals of a large number of financial institutions, without wasting time on long trips and turns.

On the other hand, through the Internet you can not ask the bank for a discount and are deprived of the opportunity to communicate with a living person. Sometimes the percentage offered by the bank may depend on the manager's personal impression. By the way, there are cases when a bank employee can offer you a loan option, information about which on the bank's website is not yet available (for example, to talk about the upcoming advertising campaign).

Tricks of banks

Now let's talk about whether a low interest on a loan is always profitable. Strangely enough, but the small interest rate indicated in the advertisement, in practice, often turns out to be a fabulous overpayment.

What can be considered a low interest rate? Let's consider some examples:

• 1% per day;
• 11% per month;
• 10% per annum + 0.8% for account maintenance;
• 16% per annum (without commissions).

Looking at the figures, you might think that the lowest rate is 1%, and the highest is 16%. Is this really so, let's count:

One percent per day in a year will turn into 365% per annum. Quite a lot, right? And if you need a loan for 2 or 3 years? Counted?

The next option: 11% x 12 months = 132% per annum. Too much.

Further, we only have 10% per annum - it seems to be a bit, but if you add a commission for maintaining the account during the year 0.8% x 12 months = 9.6%, then we will get a little less than 20%. And everything started so well ...

Now take the biggest at first sight rate of 16%. If under the terms of the contract there are really no hidden fees for services, various commissions, etc., then this option will in practice prove to be the cheapest.

So, in itself, a low percentage still does not say anything. To find the most advantageous offer, you need to know and carefully calculate all the costs that will fall on your shoulders.

Instead of an afterword

In conclusion, I would like to say that it is possible to find such a bank where it is not difficult to take a loan for a small percentage, only by approaching this issue with all responsibility. Remember: no financial institution will work at a loss, and a loan with a small interest rate does not mean "free" at all. So weigh all the pros and cons, study as many sentences as possible. And you are sure to find the best percentage that will become "low" for you.