First of all, in my opinion, it is not worth following various types of calculations drawn from credit comparison websites that are available on the internet. There is the most commonly introduced conglomeration of several different offers. For example, one bank can give there the traditional cost of a cash loan, while another one gives there the cost of a loan using promotional terms. Such promotional credit terms are most often used when the borrower agrees to launch an additional banking product, in the form of a bank account or credit card. Thanks to such an additional product, the bank may reduce the cost of the loan.
I remember that a few years ago, when I applied for a larger loan in a bank, I had the opportunity to check the cost of a loan with just such a loan comparison engine. Of course, I chose a bank that had the lowest installment in this list, and in addition, its branch was located in the place where I live. Unfortunately, when it came to closer conversations, it turned out that the cost of the cash loan that interests me is not going to be the same as the internet comparison engine previously calculated for me. Similarly, there was another bank I went to.
How to find a good loan at the bank?
Perhaps some of you remember that not so long ago I posted in the pages of the blog a guide aimed at people reaching for their first loan . I mentioned in it the basic things that we should remember about when reaching for the first cash loan. Today I will try to help you in the situation if you want to get the lowest possible cost of such a loan.
The best way to find a cheap cash loan is to check its costs in several different banks. Of course, assuming that in each one we give the same amount of the loan and the same repayment period. Only in such a situation such a comparison will make sense. Of course, the interest rate will be different in each bank, and the commission may be different. In some banks, the bank’s commission may be zero, but the interest rate or the amount of insurance may be higher. Therefore, the most important thing for us is the amount of the loan installment and the total cost of the loan, i.e. what will come to us to pay off the loan amount itself.
Unfortunately, searching for the cheapest loan on your own may not be the best idea. On the one hand, we will lose a huge amount of time that we will have to spend on visits to bank branches. On the other hand, through a large number of inquiries in BIK databases, we can lower our creditworthiness. We must know that each time we obtain accurate information about the loan in a bank outlet, the bank verifies our credit history in BIK databases. If we make such inquiries in several banks, our score in BIK may decrease. As a result, a loan application may be rejected or a lower amount of credit may be obtained than planned to be obtained.
Only one application for a cheap cash loan
If you want to compare the offers of several different banks to find the coveted cheap cash loan, I have a much better solution for you than visiting bank branches. You can receive several or even a dozen bank offers by completing only one loan application. There are at least a few institutions on the financial services market that allow you to check the cost of credit in several banks at the same time. You will not even have to leave your home for this purpose.
How it’s working? The company providing financial advisory services is responsible for the entire operation. The first step is to apply for a loan in a company where we only provide basic contact details. In the next step, a phone call takes place. We specify our needs and so we inform what amount of credit we need and in what period of time we intend to pay it back. It can be a small loan amount as well as a large cash loan of up to PLN 200,000. The same applies to the repayment period, because in the case of a small loan, we can spread it into several monthly installments , and pay a large sum for even 8 or 10 years. When we specify this information, in the next step they will be forwarded to banks. Within 24 hours, we should receive an offer including loan proposals from several or even several dozen banks.
What are the advantages of the presented solution?
First of all, we do not incur any additional costs due to the fact that we use the services of an adviser. We do not have to worry about the BIK inquiries mentioned above because our BIK score remains unchanged and only one question will be submitted. We receive information on the cheapest loan proposals on the tray. They are based on our data and so it is a ready offer that we can use immediately. What’s more, we are sure that the installment will be such and not different. We have the opportunity to choose the offer that suits us best. Such a loan, which will have the lowest installment and the lowest costs.