Borrowing money for something that we urgently need or desire is not rare or difficult today. But it is still important to be cautious when choosing a company that will grant you a loan. However, there are also situations that are entwined by myths and the Czechs often fear them unnecessarily. We have prepared a selection of the most common ones for you.
The new law reduces the number of credit predators
Due to a group of unreliable providers that ranked or still rank among non-banking companies, some people of “non-banknotes” still fear across the board and consider them all to be bad. Recently, however, thanks to the new Consumer Credit Act, the differences between banks and branded non-banking companies have been cleared, as evidenced by the results of independent tests. So, rather than addressing the difference between a bank and a non-bank, it is more important to choose the right product for your life situation and needs. In your case, for example, a specialized non-banking company may be the ideal choice.
Our tip: You need to consider how much you need and for how long. For example, if you have one spent credit card, don’t negotiate another. In this case, it is better to choose a classic consumer loan with a longer repayment period. This allows you to pay off your credit card and use the remaining funds to make purchases. Such a product will offer you a lower interest rate and a smaller monthly payment.
Not only the goods, but also the loan through the Internet is a common practice
Ordering a sofa, a refrigerator or a TV via the Internet is so common nowadays that almost no one will even stop over it. On the one hand, it is in many ways easier and moreover you will manage everything from the comfort of your home. And the same is true of loans, although people may have a lack of confidence in their internet negotiation, as with other news. Processing an online loan application is usually at least as secure as, for example, in person at a branch.
Our tip: Thanks to the so-called Online Signature from Bankil, you can sign a contract simply by SMS code. You have it without paperwork and you will receive your money within 24 hours. All this while maintaining all the required security, which in this case ensures the official certificate of the Czech Post.
Failure to repay does not automatically mean difficulties
Long-term incapacity for work, sudden loss of employment, unexpected fall in incomes and the resulting inability to repay its obligations in time. All this is the number one scarecrow for people considering a loan. Penalties and contractual penalties can spiral an unpleasant debt spiral from which it is not easy to get out. Today, however, almost every reputable lender is thinking of the fact that everything in life does not always have to go as planned, and therefore offers possibilities to deal with such unpleasant situations.
Our tip: Consider credit insurance offered by financial companies in cooperation with insurance companies. You will pay monthly installments for you in unexpected situations.