It is becoming increasingly difficult to find people who do not have a loan or have only one loan. We are indebtedly indebted, forgetting that all debts must be repaid earlier or later. So we can stop dealing with the repayment of several loans at different rates and at different dates. In order to meet the needs of such borrowers, the banks introduced consolidation loans to their offer. Thanks to them, we have the opportunity to convert several loans into one. One credit service is simpler and often cheaper.
What loans can be combined into one?
Almost all banks that operate in our country allow the possibility of combining different types of loans: cash, renewable, car, mortgage, installment, credit cards. When the bank grants us a consolidation loan, our task is to indicate which loans are to be repaid with funds from the consolidation loan.
How can I apply for a consolidation loan?
We can apply for a consolidation loan traditionally at a bank branch. However, to meet the expectations of its clients, more and more banks allow submission of applications also via the Internet. Regardless of which application path you choose, we must have creditworthiness. This is a prerequisite for the bank to consider the application positively.
What are the costs associated with granting a consolidation loan?
The cost of the consolidation loan consists primarily of its interest rate. In individual banks, the interest rate differences are not too high. In most banks, it remains at a very similar level from 8.78 to 9.89 percent. This is not a big difference, but in the case of a loan for a high amount, even such a small difference becomes important. Therefore, before submitting the application, it is worth comparing offers in several banks. The cost of a consolidation loan also includes a commission that the bank collects for its granting. Its amount is also different in individual banks.