Credit of Personal Needs: Guide for comparing offers

In an extremely rich market in offers of personal needs loans, choosing the best loan of personal needs can prove to be a difficult task. The loan comparator is an extremely effective tool that helps us to analyze and choose the most advantageous offer, depending on our needs and profile. This article explores how a loan comparator works, what we need to be careful about and how to use this tool to make the right decision.

What is a loan comparator for personal needs?

When we talk about the credit of personal needs, the comparator is an online tool or platform that allows users to compare the credits offered by different banks and financial institutions. It helps people interested in finding the most advantageous offers, depending on their financial needs and situation.

It aggregates information on the effective annual interest (DAE), the maximum amount that can be borrowed, the reimbursement period, the additional costs (such as the commissions) and the eligibility conditions.

By using a comparator, we can save time and money, with an overview of the most advantageous offers.

How does a personal need comparator work?

The credits comparator works by centralizing the information from various financial institutions and presenting them in an easy to understand format. Here are the main steps:

1. Introduction of details: Prima The section includes the desired amount and the refund period. Some comparators also have a monthly income section.

2. Display offers: The comparator then generates the offers in the increasing order of interest.

3. Comparison of details: The next step is to analyze offers according to costs, but also other relevant criteria.

4. Select of the offer: Some platforms allow the direct application for the desired credit, after analyzing the offer.

Factors to consider when comparing credits

1. Effective annual interest (DAE):

Includes all costs associated with credit, such as nominal interest, analysis commissions and administrative taxes. It is the best indicator for comparing offers.

2. Borrowed amount:

In addition to the cost criterion, we must check if the chosen institution can provide the desired amount. Some banks impose limits on the maximum amount.

3. Refund period:

A longer period reduces the monthly rate, but the total cost of credit increases.

4. Additional commissions:

Commissions can add major values ​​to the total reimbursement amount. Whether we are talking about an early commission, administration or reimbursement, it is important to consider them.

5. Eligibility conditions:

Some credits may have strict requirements on minimum income or seniority in work.