A consolidation loan offer banks and an answer to the question: where to consolidate bank debt. The website contains a list of banks in which you can consolidate bank loans.
Certainly, a consolidation loan will be a good solution for those people for whom the sum of installments that they currently pay is too high. Because most Poles, and usually more than two obligations, for some of them such a solution, can bring great benefits.
A consolidation loan is a consolidation of loans, i.e. a “combination” of several loan liabilities into one loan. The purpose of this solution is to reduce the amount of the loan installment paid. Such a new installment may be definitely smaller than the sum of all installments that we pay so far.
The discount is possible when the loan repayment period is extended. The longer the loan period, the smaller the loan installment. On the other hand, it’s a more expensive loan because we pay more interest.
The best offer of consolidation loan is, of course, the cheapest one. But we will not find one without credit.
Offers of banks for consolidation loans
When comparing loans, not only for consolidation, we should pay attention to the total cost of such a loan and its APRC. Smaller APY, then the loan will be cheaper.
As part of a consolidation loan, banks can also offer additional cash under a new loan agreement. This is due to the fact that by consolidating debt and extending the repayment period, we improve our creditworthiness.
Remember that there is no good ranking of consolidation loans. What credit conditions will the bank propose to you depends not only on the loan proposal itself. It is of a general nature and is addressed to everyone. Only after submitting a request for a loan, the bank prepares an individual offer, which additionally depends on your ability and creditworthiness. In addition, the cost of the loan is affected by the date of payment of the loan and the date of payment of loan installments.
The cheapest consolidation loan would be the best solution, but it is difficult to find such a loan. We do not have access to all loan proposals at banks. In addition, every query to the bank involves checking the database. Too many such inquiries may affect our creditworthiness. That is why it is worth focusing on no more than two or three banks. And certainly our chances of finding a cheap consolidation loan are not lower.