In which bank to borrow 15,000 in September USD not to overpay? According to analysis, this month the best offer was prepared by Good Finance. By borrowing from this bank, you can save up to USD 3,149.
Are you surprised that we mention savings when we take a cash loan on wallpapers? Although, at first glance, borrowing is not connected with saving in any way, how much we will have to give back to the bank, yes. What differences are we talking about? That’s what our readers Kasia and Janek asked us, who need USD 15,000 to renovate a bathroom flooded because of a pipe crack.
After a short conversation with them, we asked the banks to prepare calculations. We were only interested in offers for external clients because Kasia and Janek do not want to be associated with the lender in any way. In total, we compared 15 proposals. As our analyses have shown, the total cost of credit can be from 19 199 to as much as 22 348 USD.
The most advantageous cash loan offer
Good Finance, E-Money and Good Credit Bank are institutions that offered our clients the best conditions.
Good Finance turned out to be unrivaled, with a total payment of USD 19,199 and a monthly installment of USD 320. All thanks to an interest rate of 5.99 percent. and a 10.50 percent commission
E-Money has also prepared a good offer. The monthly installment proposed by this institution was only higher by USD 10.66, unfortunately for 5 years it will translate into USD 640 more of the total amount to be paid (USD 12,840 vs. USD 19,199). This result was affected by an interest rate of 6.00 percent. and a 12.30 percent commission
Good Credit Bank prepared the last offer worth attention
Unfortunately, here the losses to the winning Good Finance were even greater: USD 12.73 on a monthly installment, which translated into USD 19 964 of the total amount to be paid (i.e. by as much as USD 764 more than in the first place winner). This result was affected by an interest rate of 7.95 percent. and 8.70 percent commission.
In all three offers presented above, the total amount to be paid did not exceed USD 20,000. USD. Of the 15 calculations that banks sent us, only two were so favorable. The total cost of the loan did not exceed 20 thousand.
Our customers were very grateful for help in choosing the best offer. They finally took out a loan at Good Finance, simply choosing the loan that will cost them the least.