Loan offers are very scattered, but diversity does not deter those who are interested. Since 2007, Hungarian citizens have not borrowed as much this year as they did this year.
Everyone wants a payday loan
Financial confidence seems to have returned. The turnover of payday loans jumped dramatically, and banks have granted such loans in the amount of HUF 111 billion. This is mainly due to the revival of the sector compared to last year, but payday loans have not been as strong in the last ten years.
A feature of these loans is that credit reviews are quick, and within a few days we will get our money. Smaller and easier loans, on the other hand, are available at higher interest rates than, for example, home loans.
But now all the loans, so this product is available on so much more favorable terms that many people take it for real estate. For example, if the goal is renovation, smaller-scale shopping, this may be the solution rather than the more complicated application for a home loan. The APR, the total APR, fell dramatically for most payday loans compared to five years ago.
However, it is worth combing all the options. There are significant differences, we can find much better deals in a little while.
According to analyzes, for example, a $ 800,000 loan can have a total repayment of $ 950,000, or as much as $ 1.4 million.
Is it worth the bank and us?
You can get a better loan if you make certain conditions, such as opening an account with that bank. Before deciding, let’s reconsider how much additional costs the attached commitments would entail, as these are essentially related contracts.
It is also worth bearing in mind that there is strong competition between service providers and therefore supply is changing weekly. That is, we can find a better loan in the market for a couple of weeks, even surprisingly.