Presentation  |  November 18, 2012 21:53:56

APR - essential reading for consumer credit


Marry nowadays for anything loan is becoming more common. The market is so spotřebnímiúvěry due to high demand got a lot of institutions that offer such products. Consumers are often on the menu but not oriented and can not be compared. So how did the credit products properly confess?

 

Only the interest on the loan is not enough

The market discovery of a number concessional loans, which attract customers to the low percentages of interest. The loan itself is not only interest but, as many think. It should also include cost items, which is a loan also increased. This is the fee for the contract, management fee credit, account management fee, insurance, sick leave pay and other costs. The amount and the amount of the cost depends on the individual provider.

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EN-US; mso-bidi-language: AR-SA "> How cleverly compare loan?

According to the Law on Consumer Credit, each provider půjčekuvádět called APR. This is the annual percentage rate of costs which the client has in connection with a loan to pay.   APR includes both interest on loans, but also any fees. You can easily compare different products, whether they are really as convenient as the face, and whether such competition is cheaper. When buying on installment consumer has so much opportunity to "save".

It is also important to give attention to the interest rate. There are several types, each of which represents a different amount of the final interest. You can meet with the following interest rates:

·         pa       annual interest,

·         ps       semi-annual interest payments,

·         pq       quarterly interest payments,

·         pm      monthly interest,

·         pd       daily interest.

With APR but worry about differentiating rates fall away, since this rate is annual and it does not distort. When one thinks about buying on installments, may be due to better navigate this rate when comparing different offers.



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