Taking a loan at Savepower Bank for the amount of $ 50,000, it will cost us $ 27040. The loan installments are $ 1070 each. The amount available under this offer is from $ 300 to a maximum of $ 100,000. The undertaking may be spread over a period from 1 month to a maximum of 96 months. The nominal interest rate of this liability is calculated individually and may range from 5% to even 10% per annum. As for the commission for granting the loan, the bank also calculates it individually for a given client and it can range from 8% to even 24% of the amount borrowed. There are no commission fees. The bill to pay back the loan we will have to set up is completely free. In a situation when we want to pay off the liability ahead of time, the bank gives such a possibility without charging a commission for early repayment. Each change in the repayment schedule of our liability will cost us $ 50. Extending the loan period is more expensive and we will pay $ 130 for that. For late payment, we will pay a penalty of 14% per annum. We will not pay anything for the first prompt, but each subsequent one will cost us 5 dollars.
Documents needed to take advantage of the offer
You will need a salary certificate issued by your employer to take advantage of the offer. It can be a fixed-term or indefinite employment contract, income that the borrower obtains from business activities, disability and old-age pensions, as well as income from his own farm. The biggest advantage of the Savepower Bank offer is that it is a commitment that we can easily enter into a post office and repay it there. People who want to take a larger loan and at the same time have a high credit rating can get a very good loan offer up to the amount of $ 150 thousand. This is an offer for those customers that the bank has recognized as being from the first risk group, i.e. the most reliable in the eyes of the bank. The Bank divides its clients into three risk groups, while the fourth is constituted by other clients. If you enter this group, the loan condition will be the installment insurance or other collateral. The interest rate for such people is 10% per annum, and the commission charged by the bank for granting the commitment ranges from 15 to even 20% of the loan amount. To this we will have to add insurance, which is usually 5%. The formalities related to loans at Savepower Bank do not differ from those to be completed at other banks.
Documents needed to conclude a loan agreement.
You have to come for a loan with an ID card and a certificate of earnings that the employer will give us. The biggest downside of this commitment is that if we give up insurance during the lifetime of the loan, the bank will automatically increase its interest rate. This situation can be even more expensive for us than a loan with insurance. It is worth getting acquainted with the cash loan offered by Savepower Bank before you decide on it. You can check how much a loan for a specific amount will cost us and compare it with the offers of other banks. Credit decisions should never be taken lightly, especially if we make a really high commitment. Thanks to free online comparison websites, you can enter loans that interest us and find out for free which commitment is more profitable.