Ranking of Consolidation Loans

 

Ranking of consolidation loans

A loan or a consolidation loan is usually incurred when we do not have any other solutions to repay the existing liabilities. Of course, this is the most common reason why we are just deciding to take out a loan of this nature. It is worth mentioning that thanks to consolidation loans, in the end, all our liabilities can be merged into one place, making the repayment less troublesome. And even often it is associated with additional savings. see http://riograndedeltaaudubon.org for further notes

Below we have the opportunity to familiarize ourselves with popular loans and consolidation loans, which have recently been particularly recommended by specialists. In order to have the most objective opinion on consolidation loans available, they were compared for an amount of PLN 75,000. and a repayment period of 60 months.

1. Consolidation loan in BGŻ BNP Paribas

1. Consolidation loan in BGŻ BNP Paribas

Interest rate per annum – 4.99%
Commission – none
Preparation fee – none
The minimum amount of consolidation loan – 30 thousand. Golden
The maximum amount of consolidation loan – PLN 200 thousand Golden
Minimum repayment period of the consolidation loan – 6 months
The maximum repayment period of the consolidation loan – 120 months
APRC – 5.11%
Monthly installment – PLN 1,415,00
Total Amount to be repaid – PLN 84,899.94

This offer is beneficial for people who not only need money to pay off all their existing obligations, but also to allocate a certain amount for any purpose. In the bank, of course, we can take out insurance. It is helpful, especially if our financial situation is not very reliable. However, it is worth mobilizing for the timely repayment of the whole commitment. because if we decide to take this step, we will be able to count on a promotion, in the form of no interest for the last year of the loan agreement.

The offer is addressed primarily to the bank’s clients. So, people who already have a bank account. It turns out that one more requirement, which must necessarily be met, is to present your own certificate of earnings.
Customers who plan to get rid of their liabilities as soon as possible can successfully take advantage of the so-called pre-payment of the loan. Therefore, they will not incur any additional costs. Unfortunately, customers can not take advantage of a convenient solution, which are credit holidays. In return, however, the loan is granted without any guarantees, as well as the required consent of the spouse.

 

2. Consolidation loan in T-Mobile Usługi Bankowe

2. Consolidation loan in T-Mobile Usługi Bankowe

Interest rate per year – 5.99%
Commission – none
Preparation fee – none
The minimum amount of consolidation loan – PLN 10,000 Golden
The maximum amount of consolidation loan – PLN 200,000 Golden
The minimum repayment period of the consolidation loan – a month
The maximum repayment period of the consolidation loan – 120 months
APRC – 6.16%
Monthly installment – PLN 1,449,61
Total Amount to be repaid – PLN 86,976.68

In order to obtain a consolidation loan with such an attractive interest rate per year, it is necessary to have a bank account in the outlet. At the same time, you must also provide a certificate of income. In this way, however, we can get really favorable conditions without worrying about the fact that the cost of consolidation loan will be higher than previous debts. Rather, we will be able to successfully count on much lower fees.

At the Bank, we can additionally buy attractive insurance. However, they are not compulsory, so they can only be used by people who are really interested in additional protection. If you apply for a consolidation loan at T-Mobile, you do not need to present your spouse’s consent as well as any surety. However, there is no problem with early repayment of all debt. It is also worth remembering that, however, a thorough repayment is required for this loan. Unfortunately, customers can not take advantage of so-called credit holidays, which would consist in postponing the repayment in time.

 

3. Mini Ratka – a consolidation loan at the PKO Polish Bank

3. Mini Ratka - a consolidation loan at the PKO Polish Bank

Interest rate per year – 6.99%
Commission – none
Preparation fee – none
The minimum amount of consolidation loan – PLN 1 thousand Golden
The maximum amount of consolidation loan – PLN 120,000 Golden
Minimum repayment period of the consolidation loan – 1 month
The maximum repayment period of the consolidation loan – 120 months
APRC – 7.22%
Monthly installment – PLN 1,484.74
Total Amount to be repaid – PLN 8 834.46

When choosing a consolidation loan at PKO Bank Polski, we certainly have to reckon with slightly higher fees relative to the two previous financial products. In return, however, there are quite attractive solutions. First of all, they lend the whole amount, up to a quarter, we can spend for any purpose that will suit us.

In addition, people who do not have a certain financial situation can still take advantage of insurance at any time. It turns out, of course, that the policy under no circumstances is mandatory. Therefore, do not be afraid that we have to be exposed to additional costs. Another convenience is the opportunity to take advantage of the so-called credit holidays. This solution is extremely beneficial for us. Another way to deal with unexpected expenses is to take advantage of the three-month grace period. Clients may apply for a reduction of interest rates before the final signing of the contract, which may make the loan even cheaper. A consolidation loan in PKO Bank Polski is provided without any compatible spouse as well as the need to have a guarantor.

However, to be able to apply for a loan in this bank you must already have a bank account and also show a certificate of obtaining regular income. Unfortunately, customers can not take advantage of the possibility of early repayment, which is important in determining which repayment period we ultimately choose for ourselves.

 

4. Consolidation loan in Citi Handolwym

4. Consolidation loan in Citi Handolwym

Interest rate per annum – 4.99%
Commission – 6.00%
Preparation fee – none
The minimum amount of consolidation loan – PLN 10,000 Golden
The maximum amount of consolidation loan – PLN 150,000 Golden
Minimum repayment period of the consolidation loan – 1 month
The maximum repayment period of the consolidation loan – 120 months
APRC – 7.67%
Monthly installment – PLN 1,499,90
Total Amount to be repaid – PLN 89,993.93

This is the first bank with such a good offer, which will not require us to have a bank account in the facility. Therefore, we can safely say that the offer can be used by people who have not yet used the services of banks, as well as regular customers.
If we take out a consolidation loan at Citi Handlowy, we can also expect that a part of the amount may be used for any purpose. In this case, the loan combines the features of a consolidation loan, as well as cash.

In order to apply for financial support, we do not under any circumstances have to show a surety or consent of a spouse. Of course, the condition to be met is to have a certificate of earnings.

Here, however, the benefits end. Because the bank will not allow us to pay off the liability earlier, as well as to take advantage of the so-called credit holidays. However, if someone does not want to connect with the bank through the need to set up an account, certainly such a solution will prove to be one of the more beneficial.

 

5. A consolidation loan in Millennium Bank

5. A consolidation loan in Millennium Bank

Interest rate per year – 7.99%
Commission – none
Preparation fee – none
The minimum amount of consolidation loan – PLN 10,000 Golden
The maximum amount of consolidation loan – PLN 300,000 Golden
Minimum repayment period of the consolidation loan – 1 month
The maximum repayment period of the consolidation loan – 180 months
APRC – 8.29%
Monthly installment – PLN 1,520.37
Total Amount to be repaid – PLN 92,222.24

If before we got into really serious financial trouble, the consolidation loan in Millennium Bank will be the most attractive solution. Because in this case we can talk about the maximum loan amount of up to 300,000. and a maximum repayment period of 180 months, or 15 years. This is probably the longest repayment period for such debt. Therefore, we have a very wide range of possibilities when it comes to adjusting the monthly installment to our financial capabilities.

For those who are still not fully aware of whether they will be able to repay the loan without any problems, it is recommended to use the Safe Loan insurance. In this way, if there are various fortuitous events that prevent us from repaying the obligation, we will not have to worry about our debt to the bank.

Of course, in order to apply for a consolidation loan, we must necessarily face the necessity of setting up a bank account, as well as presenting income certificates. However, in exchange for it, we can still negotiate the terms of the loan, all the while trying to lower the interest rate. The bank does not require any guarantors from us, as well as the consent of the spouse.
Unfortunately, we can not use such facilities as early repayment of obligations or taking advantage of credit holidays. However, it is a good loan anyway, because you can significantly reduce all the costs of existing commitments.

 

Is consolidation loan definitely needed?

Is consolidation loan definitely needed?

If you are still wondering whether or not consolidation loan will be the best solution for Cień, it’s definitely worth answering a few questions. Looking at a few issues, you can quickly assess whether taking out another loan will solve your problem, or whether it is worth looking for other methods to overcome your own debts.

sum of debts – rate how much all your liabilities really are. Because they can actually be small amounts. Only because of the chaos, or more precisely the failure to write down all the debts that you have, you do not know how much and who you owe. Of course, the best solution will be to check whether your financial situation does look as bad as you imagine. In the end, it may turn out that the sum you have to pay back is not so big and you can deal with it very quickly by introducing some savings in your expenses.

Overdue payments – It is worth checking if your previous liabilities are out of date in any way, and at what stage they are in the exact stages. Perhaps you are really able to pay back everything within the prescribed period, you only want to use a consolidation loan for your own convenience. In such circumstances, there is nothing else to you but simply to calculate whether a new financial product will certainly be profitable for you.

costs of late payment – if you already have some of the overdue liabilities, it is good to look at the costs of late payment. These usually have it to themselves that they are really growing very quickly, so that your commitment can increase even several times in a short time. It is also good to answer the question at what stage your expiration dates are. Have only a few days passed? Or maybe you already get a pre-call for payment? Maybe your liabilities have been taken care of by a debt collection company that is trying to get you out of debt in a different way. If you actually smoke the ground under your feet, using a so-called consolidation loan may turn out to be a really good solution.

sum of income – you already know what your liabilities are, both their total sum and also liabilities on a monthly basis. For comparison, also look at your income. It may turn out that you can easily cover your monthly installments. Only you poorly manage your finances without looking at them at all?

the reason for non-payment of previous obligations – a deeper analysis of our financial situation should also include the reason why we do not pay our liabilities within the set time. Because it may turn out that the main reason is not our financial situation, but rather that we are too lightly approaching this type of obligation. Under these circumstances, under no circumstances will we take another loan to change our situation. Because as in the case of existing commitments, we can forget about paying all installments on time. Therefore, even with a consolidation loan, we can unfortunately make even bigger debts.

 

A consolidation loan from a bank, or a consolidation loan from a non-bank company?

A consolidation loan from a bank, or a consolidation loan from a non-bank company?

Of course, it should also be borne in mind that in the financial market we are dealing not only with consolidation loans, which are granted by banks, but also with consolidation loans. The latter financial products are made available by non-bank websites. How are they different? It is often the case that if we are applying for a consolidation loan, we must show income certificates or even decide to set up a bank account in a given institution. However, we can actually count on quite attractive terms, starting from the interest rate and even ending up with the opportunity to take advantage of so-called credit holidays. However, if we decide on a consolidation loan, which we can successfully enlist in non-bank companies, we should also bear in mind that often such financial support is issued without income statements. Even personal data of clients are not checked at the Credit Information Bureaus. However, in return for this, either there are much higher costs for repayment, or loan companies expect us to provide security in the form of assets or guarantors.

Remember about regular repayment

Remember about regular repayment

 

Once you decide to take a consolidation loan or a consolidation loan, under no circumstances should you forget about regular repayment of the liability. Otherwise, you may no longer be able to use this solution as an additional lifebuoy for your financial situation. In the end, these types of products are targeted at people who have financial problems. So if we stop paying back the consolidation loan, then we will not receive similar support in another bank.