Creditors try to encourage potential borrowers in various ways to take out a loan. Well, we already have market law. This is particularly important nowadays, when we are dealing with large reserves in banks and relatively low interest in loans. Come here and check, the best deals can be found here.
What can we distinguish reliefs and promotions applied by creditors towards their clients?
A loan of 0 percent is a fairly common offer that (in the face of deflation) is quite understandable. Of course, this does not mean that the creditor or bank will lend us money completely free. The cost of the loan we take, however, includes many additional fees – not only the interest rate on the loan … Nevertheless, the offer prepared in this way is very beneficial for the potential borrower.
Linking the loan with the possibility of shopping
Some banks allow you to take advantage of the offer, which in a simplified way can be treated as a credit card. However, we do not have to receive it. We can make all transactions online. Some banks also offer special internet applications, thanks to which you can buy a product on the website of the selected store from our browser.
You can choose the date by which you can pay the outstanding installment. Some time ago, this solution did not take place. In the loan agreement, it was clearly specified on which day of the given month each loan installment is to be received (at the latest). Now, some banks are very flexible in this respect, thus coming to the clients ‘on hand’.
Higher amounts provided by the bank. Some time ago, during the famous, recent crisis, banks were afraid of lending large amounts of money. Currently, these amounts are much higher and may even exceed USD 150,000. Is that a lot In the case of cash loans as much as possible. Of course, we skip mortgages.
Quick access to money on the borrower’s account
At the present time, banks want to further emphasize their competitiveness, thanks to the quick availability of money on the borrower’s account. Until recently, it was the domain of only parabanks offering so-called payday loans. Now also commercial banks come to the client with such an offer.
Of course, it is not always possible for money to reach the borrower’s account in several minutes. This is usually possible for people who have an account in a specific bank. In this way, the transfer of money is much faster …
In conclusion, today’s borrower is doing much better than he did some time ago. Of course, if interest rates rise, such trends will not persist all the time. In the case of credit services, we are dealing with the borrower’s market so far. When will this change? Of course we don’t know. Nevertheless, we must expect that the current situation will not last forever