Hardly anyone can remain indifferent tooffer to take out a loan that does not imply the payment of interest. Yes, the offer is indeed more than tempting. It's like borrowing from a best friend.
Today, interest-free rates can be heard fromany sources of information. All organizations only think how else to attract borrowers. Interest-free loan! Sounds, of course, incredible, but many take it without hesitation. People cautious always see in such proposals some kind of dirty trick. It is rather difficult to convince them.
In general, it can be for a variety of goods. Some organizations even offer an interest-free loan for cars. It is not difficult to imagine how much money is involved. Yes, an interest-free car loan does exist.
Let's all the same look at things not throughpink glasses. It's no secret that the bank derives its main profit from loans. That is, its main income is the interest that borrowers pay on their loans. What profit the bank will receive if it lends a loan to zero percent. Think right, his profits will equal the same zero. The situation may seem pointless and ridiculous.
If an interest-free loan does not bring financialorganization benefits, then why is it needed at all? Let's open the secret: the percentage still exists. The bottom line is that it is hidden. There are two possible options: the percentage is included in the price of the goods or is included in the commission. In the first case, it is not a bank loan, but the most ordinary installments that the store provides. In both cases, the lender will do everything possible so that the borrower can not detect the existence of an overpayment.
If the bank pawned interest in any commission,then it is not always easy to calculate them. The fact is that employees of the bank will mention them casually when drafting documents. The borrower will not receive any detailed explanations. All banks operate in their own way. In some cases, customers are asked to pay a commission in order not to pay the first installment. In truth, to the payments on the loan this fee will not be charged - the amount that will have to be paid will remain the same.
Banks may be required to pay a fee fortransfer of bank funds, opening of an account and other banking operations. At first glance, these amounts seem small, but in aggregate can surprise you. As a rule, in this way the bank takes from the lender about ten percent of the issued amount.
Banks often display fantasy. They can ask for an additional payment for servicing accounts, for reviewing an application, they may even state that they will have to pay a commission for the fact that the loan was issued in cash.
It is worthwhile to understand that the loan can not be interest-free, if any additional payments are implied.
Today, the goods market is very toughcompetition. Everyone is trying to get around each other. Entrepreneurs, opening stores, try to cash in by no means honest ways. Which ones? It is rumored that they offer interest-free loans, and they include all the percentages in the value of the goods. It is not always possible to calculate that the goods really should be cheaper. Stores that do not value their name can sell low-quality cheap goods (however like two drops of water similar to good) at excessively inflated prices. To confuse the buyer and convince him that an interest-free loan exists not so hard. People subconsciously seek to save. What's the result? As a result, they can overpay a good amount.
Interest-free credit is a myth. Do not trust those who offer it. An interest-free loan is an excellent marketing move that helps stores and financial organizations to make money on naive citizens.