We know that the specific, realistic terms and conditions of the loans are very dependent on the profile of the borrower. It’s worth considering if we can take a few steps to save you hundreds of thousands of forints .
A more reliable customer gets a better deal
The coveted goal is low interest rates, which are much easier to get for those with high incomes or taking on options that are beneficial to the financial institution. Let’s see that the easiest way to get a better position in these areas is to take out a personal loan!
Verified income is not incidental, so we get a much better interest rate. For example, if your monthly earnings are $ 200,000 instead of $ 200,000, one bank will already have $ 5,000 in monthly installments. And this is a nice savings even on an annual basis, not to mention a ten year fixed repayment, in which case we win $ 600,000.
How is the best credit available?
It is worth knowing that the focus of some banks is not on the amount of certified income, but on parking it with money, that is, on a monthly basis.
This is an income receipt that is so rewarding that you do not necessarily have to pay your monthly account to the account you open here. The amount you refer to on a monthly basis may be our income, and even an additional amount that may be other income.
For the more lenient banks, the point is to make a difference, while the other type is waiting for your payment to be transferred there. If you are contracted with this type of financial institution, you can have a great loan without having a very high income. For example, it is enough to involve a family member who pays a certain amount on a given account each month.
Reference to a non-cash account is not allowed
What cannot be avoided by other involvement in monthly income is the law. Here, too, the maximum loan repayment is determined by the JTM (Income-to-Pay-Out Indicator) limit on our own income, if not just credited to our account.
How can we get information about the individual financial institution’s procedures for personal loans? A credit counselor can help with this.
Things to keep in mind: Failing to meet the required minimum amount in a given month – which can be easier if we don’t have a consistent, equivalent revenue that we can automatically send out on a monthly basis – can result in immediate changes in terms, in a negative direction.