How to get the best loan
Are you a student, then you may already have a student loan . It is definitely one of the cheapest loans you can get. But you need to borrow larger amounts, or you already have a maximum student loan, you have to look at other lending options.
What mortgage options you can use
First you need to define must how much you need to borrow and for how long. You need between 5,000 kr. And 10,000 kr. For a maximum of three years, then a mini-loans often be the way forward. Other hand if you need a larger amount or to borrow money for longer, then you should instead use a payday loan . Payday loans are available up to 350,000 kr., And you can borrow money for up to 12 years.
When you hear about loans as micro loans, consumer loans or payday so you're probably thinking immediately that it is expensive. These are the loans they warn in Luxury trap and similar TV programs. This is because people in Luxury trap is bad debtors. People assessed as bad debt is the highest interest rates. Payday loans have widely varying rates depending on how likely it is that you can pay back. You never ask security for a payday loan so you do not pay back the loan, so the company can not force you to sell your home or the like. For this reason loan companies have to take high interest rates for individuals assessed to be bad debt, so they can provide lower interest rates to people assessed as good payers.
How to be evaluated as a good pay
There may not be an accurate guide below what you need to do to each loan companies assess you as a good payer. It is individually from company to company how they make this assessment. However, there are a number of things that may indicate that you are a good pay:
- Have you always paid your bills on time?
- Are you a student, then it may be appropriate if you take your education. Have you repeatedly jumped from your education and started a new program, or are you repeatedly passed grade on, then it may classify you as a lower pay than if you followed your training all the way, without "wasting" too many year.
- Are you real job, or have you as a student student?
- Have you always paid if necessary. previous loan back on time?
Whatever you can answer the above questions, then you may not know your exact interest rate sooner than you make an application. You are not required to record the loan if you make an application. When you first know the exact rates and terms when company comes with the loan offer, then it is impossible for you to know in advance whether it is a good loan. Therefore, you may well apply many different places, even if you only need one loan. Once you get loan offers so that you can compare them and of course choose the best of them. Are the credits good enough, then you can scrap all loan offers, and try to find another solution.
Do you need loan
For fear of sounding like your mom or your dad, then we still have to ask: Do you even need the loan? Maybe you can wait a few months, and so afford without borrowing. Or is it a pure luxury needs. Maybe it's an extra vacation or more parties you will lend to. In this case it is better to save money, and little save for these things instead. Have you contrast a real need, and need the money to get your studio or your everyday work, so we will not try to talk you out of the loan. Examine the various providers, do some applications, and compare the offers carefully, so you can choose the right loan for you.
How do you assess which loan is best for you
There are several methods to assess which loan you choose. It can often be a good idea to combine the methods and make a comprehensive assessment. First you must know whether you can get loan from this supplier. You can only know by making an application, and then see if it is approved. One application is as mentioned earlier, only a request for sale. The same method you use to find the cheapest loans. Perhaps a provider cheapest when you look at the minimum prices, but when the final price is individual from person to person, so you can only know the final price by making an application.
The above method can in theory be enough to find the right loan. But you are not quite sure that you will comply with all payments on time, then you should do more studies to find the effects of this. Let us emphasize that you should not take loans if you do not intend to pay back the loan. But would a single payment slip, it is worth knowing how this is handled by the loan provider. This is best assessed with a google search. You can browse the loan provider's name, as well as complement the "review", "experience", "trust pilot" or the like. You will see other people's experiences with this company. This means you can better judge whether you want to borrow money from this company.
Overview of rates for SU loans 2019 from http://www.su.dk/su-laan/satser-for-su-laan/
On all SU loans after 1991, the interest rate is 4 percent a year while you study. When the education is completed, the debt after the discount rate plus a supplement that is no more than 1 percent or less a deduction, according to su.dk.
“The discount rate is an interest rate that is regularly determined by Danmarks Nationalbank. Changes in the discount rate will take effect from the 1st of the month after the change ”- SU.dk
4. Avoid quick loans
It is especially the quick loans such as quick loans that have many pitfalls that are small-scale, and it is often with quick loans that people come wrong. Quick loans are quick and easy, and they sell themselves well when you stand and need money here and now. However, it should never be the first priority, so if you have the option of borrowing another loan or borrowing money from family and friends, do it better. If it's so bad that you have to take a quick loan, be sure to look closely at the interest rate and compare it to other pay-as-you-go providers. If you absolutely have to take a quick loan, be sure to choose the one that has the lowest interest rate and the highest level of security. At the same time, it is smart to make a calculation that shows the total price for the entire loan when it is paid off. In this way, you will find out whether it is smartest to pay it all as soon as possible or if you would rather pay it off over several months. At the same time, you should think about your financial security, because if you suddenly drop out of your education or lose your job, this may mean that you suddenly have more debt than you can repay.
Do you need more help?
If you are in an unfortunate situation where you have difficulty getting out of your loan or improving your financial situation, you can apply for a financial contribution from the municipality for a number of different expenses, and this applies to the vast majority of people with low income. The municipality takes your position on your specific case after your application and emphasizes your income and expenses, savings and wealth as well as your family situation and type of extra costs. If you are married, your spouse's relationship is also included in the overall assessment of your situation.