Consumer loan: when is the best time to borrow?

A consumer loan is a sum of money granted by a bank or a credit organization to help individuals improve certain aspects of their daily life. These banking establishments allow individuals to benefit from a substantial amount in exchange for interest and possible fees.

When can you apply for a consumer loan, whether it's a revolving credit, an assigned loan or a personal loan without proof? Well, when an unforeseen need for money arises and we don't have the necessary reserve, we can ask a loan company of our choice to provide us with the necessary money.

Unlike a home loan or other classic loan, a consumer loan does not always involve a project well developed in advance. You can decide to apply for a personal loan to pay for unforeseen hospital costs. It can also be a question of a faulty appliance or heater that must be repaired immediately. The need for money is therefore often urgent. This is why the funds for a personal loan are generally granted within a relatively short period of time, not to mention the speed of processing files.

Consumer credit comparator

Before applying for credit online, do not hesitate to use our comparator free of charge and without obligation to find the best offers.

Discover the best rates

6 month credit

Whatever your financial problems, know that taking out a loan is always interesting even for a short repayment. To meet your needs, online simulators can choose the solution that best suits your financial situation and your repayment capabilities. With your acquired loan, you can give life to your projects.

24 month credit

Note that for a consumer loan application, the longer the repayment period and the higher the interest rate. If your monthly income allows it why don't you choose the 24 month credit? For a loan of 8,000 US dollars, for example, the rate for a term of 24 months is about 1.8%.

12 month credit

The most popular of all repayment terms, the 12-month credit gives you access to a new loan quickly. It allows you to finance your projects whether it is the purchase of furniture, wedding preparations, back-to-school financing or other. At best, you can find interest rates less than 1%.

36 month credit

Many financial institutions offer loans with a more or less long repayment period. Each of them offer its interesting rate but for a larger project it is better to opt for a 36-month credit. Play the competition by making comparisons. This will give you an overview of the monthly payments and your repayment capacity.

48 month credit

You are looking for a fund to buy a new vehicle, but your income does not allow you to pay it, why not opt ​​for a 48-month loan? You will have the car of your dreams and you can live comfortably by gradually paying off its price. The easiest solution to find is an online loan.

60 month credit

A loan commits you and must be repaid can matter its duration. For a 60-month revolving credit the rate can rise to 2.90%? It's still a profitable rate if you think about it. While for a 72 month loan the rate is almost doubled, for a 60 month repayment the amount borrowed must be more than 3000 US dollars.

Consumer loan

The interest rate of a consumer loan

The interest rate for a consumer loan can vary from one credit company to another. This rate or the APR (annual percentage rate of charge) essentially includes credit interest, fees and other commissions. It may also include insurance premiums when these are required by the lender. As the rate of a loan is not regulated, the banking establishment is free to set it as it wishes and according to their commercial policy. It can also vary depending on the borrower's profile and other conditions.

How is the rate of a cheap personal loan calculated? As a general rule, it should in no case exceed the usury rate imposed by the Bank of United States. To put it simply, the best is to go through a loan calculator. To do this, all you have to do is enter the desired amount, the period envisaged to repay the loan and the monthly payment that you will be able to support.

To get cheap personal loans without proof, there is no better way than to compare offers. You just have to go through an online credit comparator and complete all the requested information.

A loan commits you and must be repaid. Check your repayment capacity before you commit