You can find a cash comparison without leaving your home. You do not need any intermediary or financial advisor to compare cash loans. And of course, choose a bank where you can submit a loan application.
You will do everything yourself, just use the search engine and the loan calculator provided on the website below. Before you choose a bank, however, you have to find the answer to two basic questions.
First of all, it is necessary to find several bank proposals regarding cash loans and loans, on the basis of which we can choose a bank.
Later, after a thorough analysis, we can decide which cheap cash loan is and in which bank. The cheapest cash loan is hard to find anyway, because we do not have the opportunity to get acquainted with all loan and loan offers.
The cash loan is available in over 20 banks. So, it’s not just a few banks in your city, but also those that you will not find at your own, as well as the credit unions.
What cash loan is the cheapest? We have already determined that it is difficult to find a bank with the cheapest offer. Not only because of the inability to compare all loan proposals. The scoring by the bank also influences the offer: it examines our creditworthiness and credibility. The better the rating, the better the conditions for obtaining a loan.
Below you can use the cash loan search engine to compare cash loans in various banks.
The search engine is easy to use. You enter the amount of the loan and the loan period (the number of months through which we will repay the loan) and you get a list of banks and a summary of loans and estimated calculation of loan installments. You will contact the selected bank by sending a contact form.
It is important to realize that bank offers change from time to time. Today’s proposal may be out of date in two weeks. From time to time, promotional cash loans appear, thanks to which it can be a really cheap cash loan.
Therefore, it is necessary to check the current rankings of cash loans. Do you want to take advantage of a good cash loan online or in an outlet? Do not forget to compare cash loans.
Do you know what affects the cost of cash loans? This is primarily interest rates and interest.
Look below for sample cash loans without commission:
Nominal interest rate variable 9.99% per annum.
The total amount of the loan: € 11,591.00.
The total amount to be paid 13 953.22 euro.
The total cost of the loan is 2,362.22 €, including: commission 0% – 0 €, interest 2,222.22 euro.
Variable interest rate 8.99% on an annual basis.
The total loan amount is € 3,000.
The loan period is 2 years.
Total amount to be paid € 3288.97,
The total cost of the loan is 288.97 €, including a commission of 0% – 0 €, interest 288.97 euro.
As you can see above, it is most likely that if the commission is set at a low level or it is a loan or a cash loan without commission, then the nominal interest rate is set as high as possible. At present, the maximum nominal interest rate may amount to 10% per annum (as at 31/12/2018)
Below is an example of a cash loan, with various fees:
Fixed interest rate 8.5%.
The total amount of cash loan is € 28,300.
The loan period is 5 years and 3 months.
The total amount to be paid 45 451.46 euro.
Total cost of the loan € 17 541,46, including:
And how do we know which loan is cheap? Contrary to appearances, it is not difficult.
Perhaps the most important criterion when choosing a cash loan is its price, or the total cost. The actual cost of the loan is best reflected by the total cost of the loan (presented in €) and the annual real interest rate – APY – (in percentage terms).
APRC includes all fees (interest rate, commission, compulsory insurance, preparation fee, etc.) to be paid in connection with the loan. The principle is simple: the lower the APRC, the more cost-effective the loan is.
If you take a loan for less than 12 months, the value of APY will be certainly high, and its amount is not entirely reliable. This is due to the fact that credit costs are spread over one year only. In this situation, it is better to look at the total cost.