Let’s talk about loans, general and some more features.

Loans granted by banks have general conditions that are very similar among lenders. Thus, one of the main characteristics is the amount of money you can receive through a loan, ranging from a few thousand euros and the tens of thousands. Also standard payment terms of the loans ranging from 1 month to 5 years and, in some cases, up to 10 years.

Among the other conditions of the loans it is understood and accepted by both parties that the borrower, ie, the borrower agrees to meet payment deadlines regularly. Before signing the loan agreement, the lender analyzes the economic situation of the applicant to determine whether it is feasible to pay the loan without problems.

The necessary documentation for a loan includes identification documents and income of the applicant. From this, the lender examines the specific situation of the borrower and, if necessary, ask for more documents. If after the period of study loan all requirements are appropriate entity proceeds to grant after signing the contract that determines the conditions to be met by both parties.

Characteristics of loans swrafi sesxi

Moreover, there are specific characteristics that vary by loan. Such conditions depend directly on why the borrower requests the loan and purpose that will give the capital. In this context, there may be many reasons, from the purchase of durable or not well, funding for studies, etc. This is why there are many types of loan for each customer order.

As for the features themselves can define the following as the most common:

Documentation: As the name suggests, are the documents that we bring to the bank before signing the loan. I recommend you read the documentation from borrowing money
The interest rate: sum could say that is the amount of money the company will charge for the service to lend the money. I suggest you go to our article on interest rates on loans
Amortization: The action of paying a debt paying tuition is what is known as amortized. You can go to our article on the repayment, where you will find more extensive information about the payment terms.
Commissions: Amount of money received by a financial institution to cover management expenses involved a loan. Here you have more information about fees on loans
Default: Little to say about this, but have defaulted you interested in our post on seizure for non-payment
In personal loans, for example, no collateral is required but in others, such as mortgage, the same property whose purchase is the purpose of the loan is guaranteed. The specific conditions are determined by competition among lenders, as they all want to give attractive offers to customers. The deals change every season and are tailored to the needs of customers.

Because of the crisis, some personal loans are now harder to come by and requests have fallen considerably. This is because the companies can not afford the risk of lending money to individuals who may fall into default and, therefore, have been forced to restrict the concessions.