Choose a consolidation loan thanks to the price comparison, send the application online and pay one loan installment instead of a few!
Consolidation loan – what is it?
Loan consolidation is a way to combine several liabilities into one. What is it about? In a situation in which you have several debts, such as loans or bank loans, and you have to pay several years every month, it is worth thinking about a consolidated loan. This is a special-purpose loan, which is intended for the repayment of existing commitments.
Importantly, in this way you can combine various types of debt – home loans, car loans, as well as limits on credit cards. The decision on which of them you want to merge is yours – you do not have to consolidate all your commitments.
And although it is a consolidation loan for indebted people, you must remember to request a bank to send it before you start to have problems with the payment of existing installments. If the Credit Information Office already has information about arrears in repayments, the bank may not give you this form of assistance.
And what are the benefits of taking a consolidation loan? On the one hand, it’s convenient – instead of remembering a few installments, you only have to regulate one. However, the key issue is to relieve the home budget. How? Most often, the monthly amount to be repaid is lower than the sum of the installments that have been repaid so far. Usually, you can also count on a better interest rate. This is related to the extension of the repayment period.
Of course, you must also be aware that the longer you pay off the loan, the final commitment cost becomes higher. This is a defect in the consolidation loan that you need to be aware of. On the other hand, it is a good way to get out of debt without deteriorating your credit history. It is also worth knowing that when deciding on a consolidation mortgage loan, it is necessary to check in advance whether the bank charges additional fees for repayment of liabilities before the time.
How to get a consolidation loan?
At the beginning, it is worth looking for an online consolidation loan – how we will write about it. Thanks to this, you can find the best offers in a quick and easy way. But although you can apply for a consolidation loan via the Internet, at a later stage of its verification, the bank may require a visit to its branch.
In addition to the application, you must also prepare other documents. It is worth gathering them earlier, because thanks to this you can speed up the whole process. What else will be needed? First of all, ID card and income certificate that will allow you to verify your creditworthiness. Most often you need to provide information about the amount and source of remuneration.
The bank will also require you to provide information about the loans you want to consolidate. Therefore, you will need loan agreements for selected liabilities. In addition, a repayment schedule or a certificate of current indebtedness may be necessary. Thanks to this, the bank will be able to check how much money you need.
And if you can get a consolidation loan without Retrodatabase for indebted? Banks awarding such high liabilities always check their clients in debtors’ databases – if you have a negative credit history, it will be difficult for you to pass the verification process positively. The solution may be consolidation loans offered by parabanks, although they are often less attractive.
How to find the cheapest consolidation loan?
Currently, finding the cheapest consolidation loan is not a difficult task – just use the available online tools. What do you have to choose? Comparator and consolidation loan calculator and rankings, which are published in various websites.
The best way to compare the consolidation loan is to use the calculator. Just enter some basic data, such as the number and amount of debt, to generate an adequate list of results. Bank offers are presented in a unified way, making it easier to get an idea of the conditions.
You can also find the ranking of consolidation loans. This is a list prepared by experts, in which the current conditions proposed by various banks are compared. Rankings are most often created every month, so you need to check whether they are current. Offers change so quickly that browsing lists from a few months ago may be misleading.
Consolidation loan for companies
Bank offers also offer a consolidation loan for companies, not only for private individuals. How to use it? You can also apply for a consolidation loan via the internet, although others will be required to verify your creditworthiness.
In many situations this is a beneficial solution because it allows you to increase control over the company’s finances. However, also in this case, it should be noted that this option is available only to those entrepreneurs who have not had any problems with repayment of installments so far.
Can you consolidate a consolidation loan?
Many people wonder if you can consolidate a consolidation loan. Yes, there is such a possibility, although it is not very often offered by banks. This applies to the situation of people who have taken out a consolidation loan and additionally other debts. If it turns out that too big a burden for their budget, you can combine both obligations. In this case, you need to be aware that the bank will check your credit history more carefully, or it may turn out to reject your application because your ability to pay installments is too small. Such cases are always considered in great detail.
Consolidation loan – where is the easiest way to get?
Calculator and comparator for consolidation loans will help you find a favorable offer. This allows you to check in a few minutes what conditions are currently offered by banks and where they are the most attractive.
Each bank, before making a decision, thoroughly checks its clients, so you will always need to provide the required documents. It is difficult to talk about where the easiest way is to get a consolidation loan – it all depends on your ability. However, there are several offers that you can take into consideration during the search.
Meteor Bank has a consolidation loan in its offer. Thanks to it, you can get funds in the amount of up to 200,000. zł. Interestingly, at Meteor Bank one can immediately get extra cash for necessary expenses.
You will apply for a consolidation loan at sBank via the internet. The debt repayment period is 96 months and, as in the previous case, you can also apply for any purpose. Importantly, the contract should be signed at any sBank outlet.
A consolidation loan at Estepat Bank can be obtained without unnecessary formalities – the bank informs on its website that it does not require you to provide documents regarding consolidated loans. And in this way you can combine up to 7 obligations.
If you decide to a consolidation loan in RET then you can avoid paying commissions – this applies to amounts over 50,000. zł. And you do not need to have a personal account with this bank to get this commitment.