Every person has encountered lending or at least heard something about it.. This area is just beginning to develop in our country.. In spite of this, now to use this tool, sometimes just a passport is enough. Money under Interest or credit is divided into several types. This article will discuss them in more detail..
For what period is money given at interest??
Based on this feature, one can distinguish 3 categories of loan terms:
- short – from several months to 1 of the year;
- average – from 1 year to 3 years old;
- long - from 3 years old.
Depending on the period, the interest rate for repayment is approved. The longer the period, the more significant the amount.
Target attribute of loans
There are the following main types:
- Consumer. Issued for the purchase of various goods (household appliances, etc.), services, apartment renovation, obtaining education, etc.. d.
- Mortgage. Available for long periods: 10-40 years old. The interest rates for this type are fixed and not very high.. Its target attribute: purchase of residential real estate. Payments can be quarterly or monthly.
- Bank credit cards. They have their own limit, You can spend money at your own discretion.
- On business development. Provided to aspiring entrepreneurs or existing organizations to achieve various business goals.
- Car loans.
Before you borrow money at interest, study the advantages and disadvantages of all possible agreements in different banks, Find out their validity period and repayment terms. Only then make a decision on lending..