Doing renovations, financing children’s studies, buying a car or a house, these are all important projects. But, once they are defined, they still have to be financed. For this, you will probably need a loan. To find it, you don’t have to go around the banks. Many loan offers are available online. We tell you how to find the most attractive.
Compare loan offers
You have clearly identified your project and gathered all the information allowing you to find the best loan. You will have more likely to find out by playing the competition.
For this, it is always possible to go to several banks and examine each of the loan offers they submit to you. Nevertheless, this solution will take you a lot of time and will require great vigilance and in-depth knowledge of the matter on your part.
This is why it is better to use a credit comparator like Matchbanker which will somehow do the work for you. To offer you an offer that meets your expectations, you will only be asked for a few pieces of information, and in particular the amount of the loan that you intend to request.
In a few clicks, you will have access to a summary table of offers meeting your expectations. From then on, it will be easy for you to spot a loan that really suits you. Indeed, each offer is accompanied by all the elements that allow you to measure its interest.
It thus specifies the amount of the loan and its duration, but also the proposed interest rate, the period of validity and the payment period. With this information, you can make an informed decision. And you can take it quickly, thus avoiding long and tedious procedures.
Using such a tool also allows you to make substantial savings. In fact, the comparator highlights the offers with the best value for money. Not to mention that it is a completely free service.
And you won’t miss the latest loan offers. Due to certain legislative or regulatory developments, there are some that may have more advantages for you. As the list of loans submitted for your review is updated on a regular basis, you won’t miss any of the latest offers on the market.
Read also: What are the different types of credits available to you to carry out your projects?
What type of loan are you interested in?
Before starting your search, you must ask you about the type of loan that meets your needs. If you want to install a veranda, buy a washing machine or finance a trip, consumer credit may be of interest to you.
This type of loan, of a fairly limited duration, is well suited to the purchase of goods or services. It divides itself into several categories. If you choose a personal loan, you can use it as you see fit.
On the other hand, the allocated loan can only be used for the acquisition of a specific asset. It is often used to finance the purchase of an automobile. As for revolving credit, it allows you to have a reserve of money, loaned by a financial organization and repaid gradually.
If you want to buy a house, you will need to take out a mortgage. This longer-term loan may have no other purpose.
You may be entitled, as a civil servant, to a subsidized credit, for which the public authorities take part of the interest at their expense. In this case, it is this type of loan that you will have every interest in choosing.
Read also: Urgent credit: the solutions
Things to consider
Once the type of loan has been chosen, you must specify your project. It is only by identifying the outlines with precision that you will quickly find, on the Internet, a loan that suits you.
You must therefore think about the amount you want to borrow, the duration of the loan and the monthly payments you are able to pay.
Similarly, when consulting online offers, other points should attract your attention. This is the case of the interest rate, the amount of which alone makes the loan attractive. Rather than the nominal rate, consider the Annual Percentage Rate, or APR.
Indeed, it takes into account not only the interest to be paid but also the ancillary expenses, such as the costs of file or guarantee or the cost of the insurance.
This will allow you to calculate the total cost of credit and remember that these additional expenses should not be forgotten. Also ask yourself if you prefer the fixed rate or variable rate solution.
Find out more about the costs you will incur if you decide to repay your loan before its normal term. Other information, in particular on the possibility of transferring the credit to another loan, may be useful to you.
Read also : How to make a loan while being registered with the Banque de France?