Applying for consumer credit from a bank is a classic remedy for people who need a large amount of money on time. In principle, the credit is granted after consultation with its banker on the terms of payment of the loan and interest rates.
But are the banks the only financial institutions authorized for this kind of transaction?
The different organizations
It is good to know that a consumer credit is not only made with a bank. Indeed, it is important to know that other organizations also offer to offer a loan to individuals.
For example, there are organizations specializing in credit, but also certain insurance companies. It is also possible to apply to online banks and to start-ups that do personal loans.
It is important to consider certain criteria before choosing a credit agency. The first thing to consider is the proposed interest rate. These rates vary from one organization to another, which makes it essential to compare them properly.
On average, when a person requests a loan, the duration of payment is 48 months. To properly choose your consumer credit and the appropriate organization, certain criteria must be taken into account.
The different criteria of an organization
Interest rate competitiveness
As mentioned above, before opting for consumer credit, it is important to analyze interest rates. It will depend on the person’s motives for making a loan: buying a new car, building a house, or other projects. It will be the organization which will propose the best rate which will logically attract the most people.
Facilitation of the request
To apply for a consumer credit, organizations often ask people to come to their agency to complete the usual formalities. This kind of procedure can drag things out.
On the other hand, an organization that offers offers online will greatly facilitate the task of the potential borrower. The latter obtains responses almost immediately, once the two parties have settled the details on the loan conditions.
An organization appreciated by customers must imperatively be able to readjust its offers according to the needs of a customer. If the financial situation of the latter changes, the organization must be able to readjust its reimbursement conditions according to this parameter.
For example by proposing an early repayment, a change in the amount of repayment or even postpone the payment deadlines. You can renegotiate your credit with your bank.