In recent months the interest rates applied to loans and mortgages have been falling significantly. A consequence of the reduction in the installments and dollar rate rates which have reached historic lows. At 22 January 2016, in fact, the 1-month installments stood at -0.23%, while the 5-year dollar rate was equal to 0.15%. A situation that makes loans cheaper than in the past, but how can you find the best financing?
The selection of the loan that best meets your needs passes from a targeted search in which the user takes into consideration both his financial needs and the ability to repay the credit obtained. Although it is not possible to identify the best loan in an absolute sense, it is possible to select the most convenient loans among those present in the market.
After conducting an online search, we selected the three most affordable personal loan offers of 2016. So let’s see what are the characteristics of these loans.
Best Bank offers Loans in your pocket. Unlike what happens with traditional personal loans, this loan does not provide for the disbursement of the sum directly to the customer, but for the bank to prepare a ceiling which can be used from time to time according to your needs.
The customer who subscribes preprared Loan in Pocket can then activate the credit line when he needs liquidity. A rate of 8.95% is applied to loans activated within 2 years from the subscription date and the taeg cannot exceed the 10.10% quota. As for the size of the loan, the amount financed must be between one thousand and 5 thousand USD.
By contrast, Conmers’s personal loan guarantees a fixed tan at 8.40% until 31 January 2016. There are no preliminary costs or management costs, the only burden on the customer is the stamp duty on the contract equal to 16 USD. The maximum amount that can be financed is 10,000 USD and the loan can extend up to 72 months.
Then we find the flexible personal loan of Good Credit, on offer until January 25 with tan at 6.39% and taeg 6.58%. The loan can only be subscribed online and there are no costs for stamp duty, preliminary investigation, collection and installment management.
The maximum amount that can be financed is 60 thousand USD and the amortization plan can extend up to 96 months. after having repaid the first 6 months of the loan, the customer has the possibility to change the amount of the installment for free thanks to the option Change installment, adjusting the duration of the loan.