Tuesday, September 27, 2022
Home Insurance Four Tips for Choosing the Best Loan

Four Tips for Choosing the Best Loan

 

Four Tips for Choosing the Best Loan

We give you some tips to choose the best loan on the market according to your needs. We know that there are several options between them; banks, savings banks and fintech.

Acquiring financing should be taken with great caution and analysis, since your credit history is at stake. That is, you incur a responsibility for a time and that due to non-payment you can be reported on Infocorp’s blacklist. To avoid this, we have prepared the following tips.

 

What to keep in mind when requesting a loan?

To acquire a loan in any of the modalities, the client must meet some requirements and conditions. For this reason, it is best to investigate among the various options offered by financial institutions in the country.

According to the above, we share 4 details that you must take into account when requesting a loan:

1- Choose options that suit your needs, you must take into account your credit profile, payment capacity and indebtedness. Analyze in detail the conditions offered by each financial institution. If you can pay monthly installments of S / 500, do not accept or force the limit, because that will make you request more loans to pay off debts.

2- Within the conditions, analyze the rate, term and other conditions that may bring benefits during the agreed payment. Do not extend the total time of the loan too much, to avoid paying too much interest.

3- Do not exceed 45% of your total income for debts. Failure to pay the installment generates interest on arrears and other consequences on the credit history.

4- Choose the financial entity that charges less commissions and expenses, either for opening, handling or possible changes in what was planned. Many financial entities apply penalties for advance payments and have monthly commissions within the payment of the installment.

 READ ALSO: Why is Insurance for People over 65 Necessary?

What option offers me all these benefits mentioned?

Prestamype is a mortgage loan fintech registered with the SBS that offers the opportunity to:

● Housing remodeling

● Working capital

● What you want to use it for

● To consolidate debts, among others.

In addition to all the benefits already mentioned. For example, its interest rate is low (from 1.2% per month), there are no penalties for repaying the total capital of the loan and its contracts do not have fine print, which makes it a transparent financing alternative in its conditions. As if that were not enough, your annual interest rate is the only one that includes appraisal and notary costs. That is, Prestamype assumes all expenses.

 

Main benefits offered by this fintech are:

● Secured loans from S/ 20,000 to S/ 1,000,000 soles

● Rates from 1.2% per month.

● Up to 48 months to repay the loan with the option to renew.

● Different types of amortization

● Disbursement in 10 to 15 days.

● Security. Their platform complies with security parameters and they are also registered with the Superintendence of Banking and Insurance (SBS).

After knowing some tips to choose the best loan, we recommend that you take into account the conditions, benefits and requirements that are requested. If in your case you have a guarantee located in Metropolitan Lima or Callao to use as backup when requesting a loan, the fintech Prestamype is your best option.

Their home equity loans offer one of the lowest rates on the market. Do not forget that the house, apartment, premises or land must be duly registered with Sunarp and not have fines.

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