Consumer loans are loans for an indefinite purchase or a service. Customers are most often offered consumer loans of several thousand USD, depending on the income of the customer and the customer’s family. Credits of up to $ 10,000 are currently offered and repayment terms are generally up to 5 years (60 months). Such credits must be repaid on a monthly basis (with a possible repayment of 3 months + a credit grace) and carry a commission rate expressed by GPL. Such loans do not require a pledge, but may require a guarantor if the income is not high or stable.
Consumer loans are offered by various credit institutions. Borrow up to USD 10,000 with a repayment term of up to 84 months.
What are consumer credits for?
There is no specific purpose for which the money is intended. This could be a home repair loan, a car repair or purchase loan, a home appliance loan, a wedding or overdraft loan, a travel loan or whatever.
Is it worth taking advantage of such a loan
Others will say that it is not worth taking advantage of such loans because you have to take into account the fact that you will have to overpay interest. But still, there are various cases where it is worth borrowing, such as:
- unforeseen events (Imagine you have a broken car but have to go to work. Do you give up doing manual work? It is better to repair your car and continue your work);
- health (this is not worth adding, there are things that simply cannot be postponed);
- re-credit (for example, if you have taken out a number of quick loans and are not dealing with them, it is worth considering re-credit to determine the best option for you);
- various other things, as long as they are really based on rational rather than emotional decisions.
The controversial question is whether it is worth borrowing goods that weep without. A lot of people simply do not save and save money by spending on unnecessary things that prevent them from getting bigger and more useful. But consumer credit also allows you to buy something more useful that you can’t afford on a payroll. Improve your living, borrow responsibly!