12 Mar

Best online loans – 90 offers comparison

 

How far is it worth assessing loan offers 

How far is it worth assessing loan offers 

Fine Bank users have access to a price comparison engine matching the offer to their individual financial and economic situation as well as to static rankings allowing assessment of a particular solution in a broader perspective. We also provide free support of our consultants ready to clarify any doubts. Thanks to loan comparators, you can save from several hundred to even several thousand zlotys. It all depends on the amount and type of commitment sought.

Are the presented loan parameters reliable?

Are the presented loan parameters reliable?

The parameters specified in the received ranking include the bank name, proper credit or loan name, total repayment amount, commission, Actual Annual Interest Rate (APRC) and the amount of the potential installment. For more information on the selected loan, click on the offer details. Data are obtained directly from financial institutions, and their current update means that the final price of the loan is as close as possible to the price presented in the comparison engine.

Why do loan parameters sometimes differ from the bank’s final offer?

Why do loan parameters sometimes differ from the bank

The data presented in the comparison engine and rankings may slightly differ from the parameters finally specified in the loan agreement. This situation results, among others the need for the customer to take advantage of additional insurance increasing the total cost of the loan (if the bank precisely informs about these costs, they are included in the offer description), the use of variable interest rate based on the reference rate or the length of the banking year, which depending on the financial institution is 360 or 365 days.

How long does the loan procedure take?

How long does the loan procedure take?

Waiting for a credit decision depends largely on the type of loan and the amount you want to borrow. The higher the amount of funding, the greater the bank’s risk, which translates into a more thorough and detailed assessment of the applicant’s creditworthiness. In the case of the least complex liabilities, such as cash and car loans, the contract can be signed within 10 minutes of submitting the application. In turn, the money will appear on the borrower’s account on the same or the next business day.

Why do loan parameters sometimes differ from the bank’s final offer?

Why do loan parameters sometimes differ from the bank

The data presented in the comparison engine and rankings may slightly differ from the parameters finally specified in the loan agreement. This situation results, among others the need for the customer to take advantage of additional insurance increasing the total cost of the loan (if the bank precisely informs about these costs, they are included in the offer description), the use of variable interest rate based on the reference rate or the length of the banking year, which depending on the financial institution is 360 or 365 days.

What is credit standing?

What is credit standing?

Creditworthiness determines the ability of the applicant for financing to repay the loan amount, understood as capital together with interest, on the dates agreed by the parties to the contract. To put it simply, the estimation of creditworthiness consists in reducing the applicant’s net income by the amount of fixed costs incurred by him. Account is taken of such aspects as the amount, sources and cyclicality of income generated, current financial burdens, household maintenance costs, previous credit history, type and amount of credit or additional collateral. For this reason, the comparison form includes, among others questions about the source and amount of income and housing status.

How to improve your credit standing?

How to improve your credit standing?

There are a number of ways to improve the borrower’s debt servicing capacity. It is good to ensure a positive credit history in advance at the Credit Information Bureau (BIK), settling current liabilities on time and even paying off completely unnecessary loans. It can be the liquidation of credit cards and overdrafts. A valuable way is also an additional borrower – preferably with high incomes and a good history in BIK or a guarantor who in case of problems will take over the burden of repayment. A positive impact on creditworthiness is also the readiness to use additional banking products (e.g. personal account, term deposit) or extension of the financing period. However, it should be remembered that the last two methods are further charges that can significantly affect the cost of the entire project.

What to look for before signing a loan agreement?

What to look for before signing a loan agreement?

Due to the fact that the final loan parameters may slightly differ from the parameters presented in the simulation, it is worth checking the interest rate, APRC, final loan amount, repayment rules, the need to use additional products or the option to withdraw from the contract before signing the contract. In the case of special offers, it is worth checking what the consequences are for failure to meet the terms of the promotion, and these may be completely unprofitable, e.g. an increase in the interest rate on the loan. In case of any doubts, we encourage you to use the help of our consultants.