How to choose an online loan


How to choose an online loan

How to choose an online loan

Choosing carefully, when talking about a loan, is particularly important to avoid higher costs than expected and difficulty in repayment with unpleasant consequences. Exploiting opportunities for online comparison and prior requesting more than one quote without commitment is a great way to avoid surprises as well as to increase the chances of a rapid and positive response.

It is possible to obtain an online loan for all the purposes, even without spending documents, for small or important sums, from 1,000 to 60,000 euros, obviously as long as they are proportionate to the earnings capacity and in compliance with the time limits for repayment. Once you have chosen the necessary amount and the indicative repayment duration, you can proceed to a virtual calculation of the installment, to understand immediately if it is sustainable and compatible with the revenues. Making this first selection independently reduces the risk of seeing the loan refused because it is too expensive compared to the guarantees that can be offered. It is important to compare multiple offers to evaluate different conditions, paying attention to the PNR rather than the FAN. The PNR is in fact indicative of the total cost of the loan, including preliminary and ancillary expenses. Therefore, having chosen the most interesting rate, you can try to lower the calculated monthly payment by lengthening repayment times, while bearing in mind that the longer the loan lasts, the more interest will be paid. The online quote, however, will indicate the total cost of the loan at the end of the plan, so as to have the measure of the convenience of the operation.

Preliminary investigations and ancillary costs can vary greatly from one offer to another, in some cases they can also be reset, and this must be kept in mind because a lower rate does not always correspond to lower total costs, if the additional expenses are high and if to example are added costs for the collection of the installment on a long-term loan. On-line it is possible to send a request not only for classic personal loans but also for transfers of the fifth, an easy-access option that can be convenient to take into consideration if you are a permanent employee or a pensioner.

Loan estimate of 2000 euros

Loan estimate of 2000 euros

 

Financial: Sumple Loan
Product: Personal Loan
TAN Fixed: 4.45%
APR: 4.65%
Loan duration: 60 months
Amount Financed: € 2,000
Total due: € 2,234

Monthly installment € 37, 24 Feasibility check 

Financial: Astrofinance
Product: “Your Projects” Credit
TAN Fixed: 8.55%
APR: 8.89%
Loan duration: 60 months
Amount Financed: € 2,000
Total due: € 2,465