Almost everyone knows that borrowing money costs money. In return for lending money, the bank asks for interest. In addition to paying off the loan, you also pay interest every month. This means you always pay back to the bank more than you borrowed. So paying off your loan pays off. After all, you no longer have to pay interest to the bank.
Easy to say, but how do I do that?
Postal credit is happy to help you pay off your too expensive loan (s). We have listed a number of useful tips for this:
1. Use your savings. For years, inflation in the Netherlands has been higher than the standard savings interest that you get on your savings. If you have saved money in recent years, then this is probably worth less. On the other hand, you do pay interest to the bank for the money that you have borrowed. With (part of) your savings repaying (part of) your loan, you ensure that you pay less interest. Note: keep a safe buffer in savings for unforeseen expenses.
2. Interest rate reduction Borrowing money costs money. But borrowing money can often be cheaper. Therefore, look critically at your existing loan or credit. View how much interest you pay on an annual basis and then see if this can be taken out elsewhere at a lower interest rate. The less interest you pay, the more money you have left to further repay your loan.
Did you know that with: being red at the bank, using a credit card or shopping online for credit (the so-called shipping house credit), high interest rates are charged? Up to 15%!
3. Prevention is better than cure As we indicated above, when standing at the bank in red, using a credit card or shopping online for credit, interest rates of up to 15% are charged. If, in 2015, you can prevent yourself from turning red or pay for online orders directly, then you will also prevent money from being charged by these high interest rates. Prevention is always better than cure.
Tips for transferring your loan
Tip1. Compare the interest rate. Of course you don’t want to pay higher interest.
Tip 2. With loans there are also differences in type of loan, term and monthly term. Make sure you do not compare apples with pears.
Tip 3. With a personal loan, a penalty for early transfer is often charged. Bear in mind that your interest saving must be greater than the amount that you have to pay as a fine.
Tip 4. Are advice and closing costs charged? You can choose to pay this but it is not necessary. There are also intermediaries who do not charge these costs.
Such as postal credit
We always offer you the lowest possible interest! No hidden costs. If you want to borrow money, you can request a quote from us free of charge and without obligation. We will then let you know as soon as possible, usually within 24 hours, at what interest you can borrow. Request a free quote today.