Consolidation loans rank 2019. Is there a ranking of consolidation loans that objectively presents the best consolidation loans? Unfortunately not. Such a combination, however, can be done by ourselves.
The best and cheapest consolidation loan? Certainly the ranking of consolidation loans will help to find such a loan … Just enter the ” consolidation loans ranking 2019 ” search engine and we will certainly receive such a statement. This is not true. There are no objective credit rankings. And this applies to consolidation, cash and housing loans.
The so-called. rankings are created for specific needs. Most often banks. It is possible to adopt specific assumptions that allow the selected bank to be located with its offer in the first place. In no ranking, you can not put all the parameters that are taken into account when assessing the customer’s creditworthiness and creditworthiness. Each offer can be negotiated. The installment system – decreasing or permanent – affects the cost of the loan. Even the payment of the loan and payment of installments affect the cost of the loan!
To find a cheap and favorable loan, it is necessary to compare credit offers. If it is to be, for example, a consolidation loan for 30,000 PLN for 6 years, then each banking offer should be compared according to the real interest rate (APRC) and the total cost. It is only on this basis that you can create a ranking of consolidation loans.
What is a consolidation loan
What are consolidation loans? These are bank loans for repayment of other bank debt, such as cash loans and loans, installment loans, and even debts on a bank account or on a credit card. By contracting a consolidation loan, the bank repays our debt, and we have a new loan and we pay only one installment.
For example, we have debt for a total of PLN 60,000 and pay PLN 2,000 monthly for loan installments. The Bank, after examining the creditworthiness and creditworthiness, has granted us credit, but it does not transfer it to our bank account, but repays it with our obligations presented for consolidation. By extending the loan period, we reduce the loan installment. And it can be installment even smaller by 20-30% in relation to the sum of installments paid before consolidation.
If you want to get a consolidation loan with additional cash , you should check which bank has such an offer.
Of course, consolidation loans are not just positive things. This is not the cheapest solution because the new loan = new costs. We must not only pay a commission on the loan, but also more interest over the entire loan repayment period (longer loan period). In addition, credit insurance may still be added.
Therefore, you should always compare consolidation loans, even two only, to choose a cheaper option. And this will be our ranking of consolidation loans in 2019.