Commissions of a personal credit. Do you have them in mind?
August 29, 2019
When you have the need to have extra money, fast personal loans are an attractive option, but not the best. And it is that badly planned loans can lead to years and years of indebtedness.
It should be taken into account that as a client you will not only pay the money you requested from the bank, but also the commissions of the personal loans that this entity will charge you.
Know in this note what are the commissions of the personal loans that a bank charges:
Account statement submission
Sending physical state of mind has a cost that is included in your monthly statement, however you can do without this additional fee if you opt for sending electronic statement.
It is a collection that is made on a monthly basis and that does not generate interest . Thanks to the rebate insurance, the client’s family is free of debt if the client dies.
It must be taken into account that the rebate insurance is not mandatory, but there are certain entities that do require it in order to grant a loan.
Charges and penalties for late payments
These additional charges will only come on your statement if you do not pay on time or do not meet the monthly payments.
The penalty charged by a bank is usually a fixed amount that begins to run from the first day of delay. Interest on late payments is generally high amounts that increase every day. Avoid paying these additional expenses for the breach or delay of your obligations.
Collections for financial transactions
Transaction fees may be given for withdrawing money from the account in which you deposited it or for making deposits to other accounts, etc. Do not damage your credit history! Never take out a personal credit without having assessed well if you have the ability to pay and after choosing the bank to charge you the lowest annual effective cost rate. The TCEA lets you know how much is the total you will pay for the amount of money you lent.
Similarly, review the fees and expenses that the bank will include in its monthly collections; Remember: not all banks charge the same! You should always read the contract offered by the bank before signing it. Take your time and be aware of everything that involves the loan you requested.