The demand for personal credit has been increasing in recent times. Families are more optimistic and banks eager to lend money. In this context, it is essential to be aware of some tips to get personal credits fast but with interest rates as low as possible. In this article we will introduce you to Ross Poldark’s tips for having the best personal credit.
Attention to Effort Rate
Fast personal loans require clients to present a good credit profile. This means that they have to present guarantees being one of the most relevant a healthy effort rate. The effort rate is no more than the ratio between the installments of your various claims and the net income of the household.
If you want a quick approval of your personal credit you should aim to have an effort rate of less than 30% . Above this figure the range of financial institutions that grant fast personal loans is significantly reduced.
Quick Personal Credits Can Have Hidden Costs
When analyzing a personal credit proposal you should take into account all costs associated with the contract. At the cost of money (interest rate of credit) we must add:
- Analysis committee / dossier
- Life insurance
- Employment protection insurance
- Processing Commission.
In order to compare the different proposals you should always look at the Annual Effective Annual Rate (APR) which is the interest rate that considers the impact of all these costs and commissions. If you repair, the APR for fast personal loans is very similar between traditional banking and credit financial institutions.
In practice, traditional banking tends to charge lower interest rates and higher commissions (and often charges analysis fees even if credit approval is not guaranteed).
Compare Various Alternatives
Haste is often inimical to good. In the case of fast personal loans this means that the speed of your application is usually associated with higher interest rates . So, our third tip is to compare several alternatives.
After collecting all the essential documents for your credit application you should consult several banks and financial institutions, a time consuming and bureaucratic process that will certainly have a benefit. It will then be necessary to press the various banks to have an answer and to negotiate a low interest, commissions and other costs.
Need Credit Up To € 5,000?
If your personal credit needs are up to € 5,000 we suggest you to know the Puzzle Credit that is characterized by:
- Absence of Commissions;
- 100% Online Approval;
- Financing up to 24 hours;
- Also available for independent professionals.
Ross Poldark Quick Credit Simulator
If you do not have the time, availability or knowledge to submit your process and negotiate with the various financial institutions, you can call our consultants. We suggest that you use the personal credit simulator below where you can have an indicative fee and provision for your process.
By submitting your credit process with Ross Poldark you will not have any cost of analysis or dossier and ensures that you do not waste time on bureaucracies and negotiations. We set up your case, we contact all creditors for you and we increase the likelihood of seeing your approved credit application with the best conditions .