If you are thinking of applying for a consumer loan, this could be the best time to do so due to the changes made by the sector.
For many, 2018 will be the year in which they realize some dreams, fix something at home, go on a trip, etc., and thanks to the changes that have occurred in the financial sector, achieving it could be easier than you think .
In the last months, the conditions for the credits changed
This became valid for the different types of credit, but the ones most affected were consumer loans. The modifications that have taken place, in one way or another, end up benefiting the applicants, making this time a good time to request financing.
But why is it said to be a good time?
1. Interest rates were reduced
Among the main decreases is that of Banco Falabella, which reduced its interest rate by 3.8 points; Colpatria, which made a reduction of 3.21, and Citibank, which went from 28.21% to 26.21%, that is, two points less.
2. The payment term was extended
This, for many, may not be a better condition, since in the long run it pays greater interest; However, for many it is the only way to access a loan, since they need low fees. Ideally, find a balance to avoid choosing too long a term.
3. Grace periods were restructured
In this way, this element will benefit customers, and there will be no surprises after a few months due to misunderstandings or hidden clauses.
If you are thinking about requesting financing, this could be the right time, since you can take advantage of the changes that have occurred in the credit sector. Remember that the ideal is to compare the alternatives to find the option that suits you best.