The pros and cons of asking for credit from a bank or savings bank

[Himon2413]

Be clear about how long it will take you to pay off the debt and remember that you should not ask for one to pay another because this becomes a circle.

Image

PERU21 Editorial
Update Date
08/26/2019 - 01:52
Fabiana Sanchez [email protected]
If you are going to apply for a loan, you should analyze which financial institution you can turn to.
Professor of Finance at the Center for Innovation and Entrepreneurial Development at PUCP, Willian Alcántara, says that before applying for a loan, you should thailand number screening compare the interest rates and commissions charged by companies.
This analysis can be done on the portal of the Superintendency of Banking, Insurance and AFP (go to www.sbs.gob.pe ) or on the portal
The expert points out that one of the advantages of banks is that they charge lower commissions than municipal savings banks.
"Even if you are late with a payment, the default rate for banking companies is lower," he says.
Meanwhile, ESAN University Finance professor Jorge Guillén says that one of the benefits of the savings banks is that they do not require as many requirements to grant financing.
"But since these companies do not delay in providing a loan, their rates are higher," he says.
He suggests that you turn to these entities when you want a loan for a new business.
"When a person is going to start a business, banks prefer not to take risks with it. In this case, savings banks are a good option," he says.
CONSIDERATIONS Specialists remind that you should borrow in the currency in which you receive your salary due to the volatility of the exchange rate.
They also recommend that you apply for a loan from the same institution where you receive your monthly salary, since this way you can access better interest rates.