Borrow in a smart way! – Apply for Mini Credit

by Thomas Lamay

If you need a personal loan, you could look for people in your area from whom you could borrow money. But not everyone is willing to lend their money. Another possibility to borrow from a private individual is currently possible via the Denbes website, where you can request a loan or request your options.

If you are indeed able to borrow money from someone yourself, make good agreements and record this on paper. You must therefore record in a contract what you have agreed on the loan. In any case, it must state how much you have borrowed, how much you repaid per month, and how long the term of the loan is. That is important for both parties. If everything is well described, no disagreement can arise. Also make sure you have proof of all the amounts that you have paid back, for example a bank statement or prinst screen of your bank account with which you transfer the amount.

Smart borrowing is comparing!

Smart borrowing is comparing!

How do you compare different loans? That is a frequently asked question. But not always very easy to answer. A loan is not just about paying back the loan amount. You will also have to pay interest and with some loans comes part insurance. In short, there are several factors that you will have to deal with if you want to determine the real costs of a loan.

The only correct way to calculate the total cost of a loan or loan is to multiply your total monthly amount by the number of months. The result that you then get shows the real costs and makes the amount that you have to pay at the different providers comparable.

You must therefore always ensure that the comparison that is made between different loan providers applies specifically to your situation. In advertisements, lenders mainly show what the cheapest interest rate is. But if you request a quote from one company for your situation, you cannot compare that percentage with a percentage from an advertisement from another company.