Higher salaries, lower interest rates
One of the most sought after products of the banks is the personal loan, because this type of loan is not mortgaged and we can use the money received for anything.
In the case of a personal loan, the only guarantee for the bank is the borrower’s regular income. This time we were curious as to how much more favorable the banks’ personal loans are for paying over HUF 250,000.
If you need a personal loan
The best way to find the best deal for you is to look at the offers in a comparative calculator . This time, we are analyzing $ 1,000,000 of personal loans that can be used for any purpose. The term of 36 months has been chosen, so the monthly repayment is not too heavy.
We were wondering how much better interest rates are on personal loans for payments over 250,000. When browsing the calculator, you can see that at the best offers, the monthly repayment is around 32,000 forints, while for lower payday loans, the monthly repayment will be over 34,000.
For the personal loans in the following composition, the interest period is fixed at all times, so there will be no change in interest or installments over the 3 year term.
Same loan with different interest rates
CIB has come up with a solution to offer the Advanced Personal Loan to customers with a monthly income of at least HUF 250,000 at a more favorable rate.
With this version of the loan, the bank expects them to receive this income. The table below compares this to a variant that only needs $ 100,000 to arrive at the bank.
Your 280,000th income can come in up to 2 installments
In addition, regular account usage, ie at least 4 transactions per month on the account, is a further condition for applying. Thus, we have to pay back HUF 114,000 less by the end of the 3-year term than in the case of the MindFix loan.
Whenever you sign up online with the Good Finance Personal Loan, you get a 2% discount on your personal code by e-mail. The discount on online registration is available for contracts signed up to September 30, 2016.