What credit can we afford?
A family of four whose net income is USD 5,270 (two national averages) can count on a loan of USD 414 thousand. zł. Of course, provided there are no other obligations. Even small ones can significantly reduce your creditworthiness.
At the beginning the margin is higher
According to the GFI report, in September banks offered a 30-year-old who wanted to pay back 200,000. loan for an apartment, bought for 250 thousand USD, loan with an average monthly installment of USD 1,220, bearing interest at 6.16 percent.
On average, the margin added by the bank in the first year of lending was 1.15 percent. , in subsequent years of the loan term – 1.24 percent
Offer not for every customer
However, this is just an example. With the same parameters, Good Finance offered a loan with an equal installment of USD 1,168, bearing interest at 5.76 percent. on an annual basis, with a margin of 0.75% during the promotion period and up to 1.3% later. However, this offer was not available to everyone.
To use it, you must have or open a bank account with a minimum income statement of at least USD 3,000, have or buy insurance for the account, buy a credit card and offer real estate or unemployment insurance offered by the bank.
Who can count on the promotion
It is worth knowing that the offer applies to loans higher than USD 150,000, and that the margin given is valid only in the first year of financing.
In the second year of the loan term, the margin is 1%, and in the remaining years – 1.30%. Good Finance, a loan with an installment of USD 1,185 and an interest rate of 5.89%, offers only selected people, although the requirements are slightly lower than GFI.
The promotional margin can be counted on by those who have or will open a bank account, declare monthly inflows not lower than 1 percent. granted loan, they will make a minimum of three non-cash transactions a month and will take out life insurance offered by the bank.
Buy insurance, there will be better conditions
Customers interested in a loan at Good Finance (USD 1201 installment, interest rate 6.09 percent) can count on a promotional margin of 1.1 percent if they decide to buy life insurance from the bank’s offer for a period of five years.
The purchase of the policy also exempts from paying the bank’s commission on the loan. Whoever does not buy the policy will pay a margin of 2.1%. and 2% commission.