Ranking Of Consolidation Loans – May 2019.

A consolidation loan is a good solution for people who are facing the repayment of many different liabilities. Such financing combines several installments into one, thanks to which the client can easily reduce the amount of his monthly obligations. Some offers available on the market also allow you to extend your loan repayment.

The main purpose of a consolidation loan is to pay off all other liabilities.

What products are subject to consolidation? Different types, for example: credit cards, installment loans, car loans or mortgages.

We present the best offers of consolidation loans that we will find on the market in May 2019.

RANKING OF CONSOLIDATING CREDITS May 2019

RANKING OF CONSOLIDATING CREDITS May 2019

1. Inbank

  • Loan amount: from PLN 2,000 to PLN 50,000
  • Repayment: from 4 to 72 months
  • Without leaving home
  • Online application
  • Different sources of income
  • APY: 7.29%

Submit an application

Inbanku customers will receive up to PLN 50,000. To obtain financing, it is necessary to create an account in the Bank’s online service and fill in the appropriate online form.

2. PKO BP

2. PKO BP

  • Loan amount: from PLN 950 to PLN 120,000
  • Repayment: from 1 to 120 months
  • No account in PKO BP
  • Online application
  • Credit holidays
  • APY: 9,37%

Submit an application

A client at Bank PKO BP may apply for a consolidation loan via the Internet. However, it is not an online loan, because the interested will have to sign a contract at the branch. The borrower will receive maximum funding of PLN 120,000.

3. T-Mobile Banking Services

  • Loan amount: up to PLN 200,000
  • Repayment: from 120 months
  • No visit to the branch
  • Money the same day
  • 100% online
  • APY: 14,29%

Submit an application

A consolidation loan in T-Mobile Usługi Bankowe clients can be used for consolidation of payday loans, repayment of cash loans, account limits and credit cards.

4. Alior Bank

  • Loan amount: up to PLN 200,000
  • Repayment: from 24 to 60 months
  • Online application
  • Formalities by phone
  • The possibility of early repayment
  • APY: 14,41%

Submit an application

Alior Bank offers up to PLN 200,000. The client will handle all formalities during a telephone conversation with a consultant.

5. Credit Agricole

  • Loan amount: from 1,000 to 150,000 PLN
  • Repayment: from 1 to 120 months
  • Minimal formalities
  • Online application
  • The possibility of receiving a larger amount
  • APRC: 16%

Submit an application

Credit Agricole ensures that it accepts the borrower’s various sources of income and examines the applications for funding very individually. Interestingly, in a situation where the customer meets the relevant requirements, he can increase the maximum amount of the liability.

How did we prepare the ranking of consolidation loans in May 2019?

All of the offers presented to us were analyzed primarily in terms of the amount of the Actual Annual Interest Rate (APRC). What’s more, we checked the cost of each product and presented to the Readers the best and current proposals.

In May 2019, customers will receive the best interest rate in Inbank, where the APY is 7.29% .

Consolidation loan – for whom?

All those who have to repay many installments of other liabilities each month should consider the consolidation loan. After deciding on one funding, it is easier to manage your home budget.

However, it should be remembered that such a loan is also just another loan, which we are obliged to repay. Always, regardless of the thickness of our portfolio, before we decide on a loan or other loan, we should consider whether it is really needed.

Representative examples

Inbank

The actual Annual Interest Rate (APRC) is 7.29%, the total loan amount (without crediting costs) is PLN 8,000.00, the total amount to be paid is PLN 9,917.32, the annual interest rate is 4.99%, the total loan cost is 1517, PLN 32 (including: commission PLN 399.20, interest PLN 1108.12), contract concluded for a period of 60 months, 59 monthly installments equal to PLN 158.62, last installment PLN 158.74. The calculation was made on 10/01/2019 on a representative example.

PKO BP

Actual Annual Interest Rate (APRC) is 9.37%, total loan amount (without credited costs) PLN 77 775.56, total amount to be paid PLN 111 143.14, variable interest rate 8.99% total loan cost PLN 33,367.8 PLN (including: commission 0.00 PLN, interest 33 367.58 PLN), 101 monthly installments equal to 1 100.53 PLN. Calculation as at 14/02/2019 on a representative example.

T-Mobile Banking Services

Actual Annual Interest Rate (APR): 14.29%, total loan amount: PLN 56 491.61 (without credited costs), fixed interest rate: 9.99%, total payment amount: PLN 92 242.14, total cost of the loan PLN 35 750.53 (including: commission PLN 6,974.98, interest: PLN 28.775,55), 96 equal monthly installments in the amount of PLN 960.85. The calculation was made on 05/12/2018 on a representative example. The final loan terms depend on the customer’s creditworthiness, the date of loan payment and the date of payment of the first installment.

Alior Bank

Actual Annual Interest Rate (APRC) as part of the standard offer for a consolidation loan is 14.41%, total loan amount (without crediting costs): PLN 41 295, total amount to be paid: PLN 73,828.22, variable interest rate: 9.99 %, total cost of the loan: PLN 32,333.22 (including commission: PLN 6,116,03 (12.9%), interest: PLN 26,177.19), 114 equal, monthly installments in the amount of PLN 6 587. The calculation was made on 22/03/2019 on a representative example. The final loan terms depend on the customer’s creditworthiness, the date of loan payment and the date of payment of the first installment. Terms of the offer and the Tariff of fees and commissions at outlets and at www.aliorbank.pl.

Credit Agricole

The Actual Annual Interest Rate (APRC) is 16.0%, the total loan amount (without crediting costs) PLN 30,200, the total amount to be paid PLN 48 379.60, fixed interest rate 8.75%, the total loan cost PLN 18,179.60 (including: commission PLN 4 146.46, interest 12.06.65 PLN, insurance cost PLN 1,971.49), 81 monthly equal installments in the amount of PLN 589.99 and the last compensatory installment in the amount of PLN 590.41. The calculation was made on 31.10.2018 on a representative example.

 

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