What are consumer loans?

Consumer loans are loans granted by a financial institution for the purchase of goods or services. I.e. collect the credits granted for common purchases of homes, such as the purchase of a car, furniture, travel, any other cost extra or unexpected. These credits can be arranged in banks or directly in the settlements of purchase of the goods in issue, facilitating the access to finance. The majority of banks offer the possibility of hiring a consumer credit, so we will have to analyze the different alternatives, requirements and fees that we offer.
Consumer loans: types and features

Revolving consumer credit: revolving consumer credit is an amount of money which is granted by the Bank on the basis of periodic income and that the customer may withdraw or not in its entirety, going back to grow the space available to payment thereof is made.

Its main feature is the renewal of the amount granted by the Bank whenever provided quotas are returning. In addition, if you have part of the quota, only pay interest on the amount transferred to the associated account.

This credit allows extra income if you need money fast and easy. You have to make a monthly payment, but you can make voluntary payments throughout the month.

Consumption free investment credit: the credit of consumption of free investment, also known as credit free destination or availability. It is intended to satisfy any need for funding in order to meet specific and concrete needs of credit.

This credit allows you to finance the purchase of any product or service, without any previous definition for a specific destination with low requirements if the requested amount is not very high and the amount.

Consumer credit clearance: Clearance credit is a credit of consumption of free investment that is configured to directly deduct a monthly amount of payroll or pension.

In this way, the employer is authorized to make payments to the appropriate financial institution on a regular basis. This payment method is more comfortable for the debtor, discounting the value of the monthly salary without any concern.

Remodeling consumer credit: Of renovation unlike the previous consumer credit has a specific and particular purpose previously. This type of credit is oriented to satisfy the need for housing reform, either for enlargement or improvement.

Vehicle credit: vehicle credit is a credit of consumption especially designed for the purchase of a car. It can be used for the purchase of a new, used car, public car...

Consumer credit debt unification: The unification of debt consumer credit is intended to add a single loan all credit obligations brought with different entities. This unification allows the Bank to provide a preferential rate that is most beneficial to the debtor and redesign the period of liquidation of debt, being able to negotiate another more convenient.

Credit of consumption pledges: consumption pledged or chattel credit allows you to buy a consumer credit upon certain guarantee in case of default. Warranties can be very diverse, as in savings account balances, balances included in the voluntary pension fund or a particular good.

Therefore, we see how financial institutions offer different credits tailored to your financing needs, but remember to choose the best credit you have to analyze rates and fee which you will have to pay for it will allow you to cover all your expenses without worries and you can make ends meet.


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