A 12-month consumer credit: rate and monthly payment

Most people who carry out projects do not necessarily have the funds to start, they have resorted to loans. 12 month consumer credit is a good alternative to make your dreams come true or simply to supplement your needs. It allows you to benefit from an immediate financial contribution from your bank or a financial institution or through a third party. Of course, it can only be used for your private expenses, that is to say not related to professional activities.

A personalized loan study

You still have to remember that loans, no matter how long, induce repayments. Your bank or the borrowing institution verifies that you meet the acceptance conditions, including the monthly payments. You must therefore check your repayment capacity before requesting its duration and that according to your income and your financial situation. The maturity of a consumer loan can range from 3 months to 7 years. The terms of your loan vary depending on your project. Indeed, your account manager will explain to you in detail everything about the 12-month credit rates in order to make your financing a reality.

12-month revolving credit

The consumer credit is renewable for 1 year and can be renewed each year on the proposal of the lender. In the case of a 12-month loan, the loan must therefore be repaid within 12 months. The latter is the most popular duration, probably because of the security of payment. Apparently, there is less chance of default since the term is short. If you are convinced to go for the 12-month term, assess your debt ratio. Know that your monthly payment must not exceed 30% including various debts, rare are the cases accepted above this threshold.

12 month consumer credit

For a small credit

In cases where you need a low amount of credit, be aware that organizations do not offer promotional offers and very good rates for a 12-month credit since they will not earn enough money. In all cases, he will offer you a larger amount or a longer repayment period. The best credit rates for amounts less than US $ 3,000 are revolving credit. You can save more money by comparing rates. There are those who can offer you a rate of 2.7% and others for 5% for the same amount, and for 12 months the difference can be significant.

Other consumer credits to enjoy

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%.

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.

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