How does a consolidation loan or consolidation loan work? In which bank can you benefit from the consolidation of loans? Check the basic information about the consolidation loan and see the banks where you can get such a loan.
Provided, however, that you have adequate creditworthiness and creditworthiness, because it depends on whether you receive such a loan.
A consolidation loan (as well as a consolidation loan) makes it possible to combine all bank loans, which results in the fact that instead of several installments a month – we pay one installment.
The consolidation loan allows you to consolidate into one loan: cash loans and loans, installment loans, car loans, other consolidation loans, mortgage and housing loans, mortgage loans, credit cards and the revolving limit in ROR.
In a selected bank, you can consolidate loans not only granted by this particular bank, but also in other banks and in the Cooperative Savings and Credit Unions.
A consolidation loan what documents?
Before you call the bank regarding the consolidation loan, you should prepare:
- ID card,
- documents (contracts) that confirm that we have and pay off various financial obligations.
Banks generally accept different sources of income:
- contract of employment,
- civil law agreements or contracts,
- lease and tenancy agreements,
- retirement and pension,
- pre-retirement allowance,
- economic activity.
What amount can be obtained as part of a consolidation loan? Depending on the bank chosen, a cash consolidation loan can be obtained even for € 200,000 for 10 years.
When comparing the consolidation loans, check the APY and the total cost of the loan.
APRC – Actual Annual Interest Rate – this is the total cost of credit incurred by the consumer. It is expressed as a percentage of the total loan amount on an annual basis. APRC includes, apart from the nominal interest rate, also other loan costs. For example: commission, fees, costs of necessary additional services, costs of loan security, loan insurance.