And banco it is a place that serves much more than to safely store the money that we have saved In it, profits can be generated through investments or financial products can be issued with profitability. In addition, they control the money supply in circulation and balance the ratio between credit expansion and the volume of deposits in the hands of the public, among many other services.
One of the most requested functions for banksis that of the emission of loans. This agreement between the bank and a person, group of people or company, is usually signed for two fundamental objectives. First of all, buying a living place. Facing a large but so necessary payment usually requires the help that these entities offer.
On the other hand, the loans required to the banks they are usually to start business. Well, this end is another common objective. This is proposed to generate wealth, but it requires a good sum of money to start it up. And this is usually requested from a bank according to the conditions of each one.
However, with the current economic situation, there are many situations that we have to face for which we need to start with a money basic. For this reason, it is increasingly common to request a loan to face the expenses of the beginning of the school expense. Well, this is necessary to assume but difficult, in many cases, to face.
Banks that offer you personal loans for schooling
With the opening of deadlines to apply for places in schools for the 2023-2024 academic year, many are the people who are beginning to consider how to face said expense. Well, every year, buying books, school supplies, uniforms, paying for the dining room or transportation to the school, among other expenses, represents a big money outlay increasingly difficult to assume for many families. For this reason, there are those who consider the possibility of request a personal loan from a bank.
This can be a great help. However, it is important check the commissions they are charging the various banking entities to see the possibilities of apply for a personal loan to help us cover all the expenses described above. This can also solve other unforeseen events that usually happen at the least expected moments. If you decide on this option, it is important that you compare what each of the banks offer and choose the one that best suits your needs.
one year loans
If your most affordable option is a loan that does not exceed one year, you should take into account that, on average, the lowest national interest rate for those loans that are not revolving and freely available for up to 360 days is 7, 64 percent per year. A little higher, with an average rate of 10 percent, the next is Financiera Crediscotia. Behind it are Financiera Mitsui and BBVA, with average rates of 18.53 percent and 18.64 percent.
Loans to be repaid in more than a year
For those people who need an agreement in which to repay the loan money in more than a year, you should know that the lowest average interest rate is Banco GNB. This is at 11.09 percent. In this ranking, it is followed by the company Acceso Crediticio, whose average rate is 13.16 percent, Banco de Comercio with 14.88 percent, and BanBif with 16.03 percent.