Personal Payday loan for free use? We looked at the possibilities

Personal Payday-friendly loans are now well known, and we know that they are predictable and reliable loan products. But what if we are not looking for a mortgage for a specific residential purpose, but are looking for a predictable, transparent loan for free use? Below we look at what banks offer in such a case.

Nowadays, there are almost no financial institutions that you wouldn’t find in Personal Payday Loans. You may have already come across the loans, whether on TV or at posters or at branches, but you may not know exactly what makes these mortgages so good. Let’s see exactly what it is all about.

Is There a Free-to-Use Personal Payday Friendly Home Loan?

Is There a Free-to-Use <a href=Personal Payday Friendly Home Loan? ” />

The Personal Payday Friendly Home Loan is a sign that the central bank can obtain from banks. The National Bank of Hungary decided last March that more competition and lower interest rates are needed in the housing loan market, which will eventually lead to cheaper loans for the population.

To this end, the central bank has introduced a set of criteria that a bank loan may qualify for as a Personal Payday Friendly Credit. Only mortgages that meet the strict requirements of the central bank can be certified by the National Bank of Hungary. The purpose of the rating is to make it easy for you as a borrower to choose the most reliable, cheap home loan.

A Personal Payday Friendly Home Loan must meet the following conditions

  • The interest period can be 3, 5 or 10 years, but you can fix the interest rate of the loan for the entire term
  • Only equal monthly installments are allowed (annuity repayments)
  • The credit assessment will be done within 15 business days of the valuation being completed
  • The deadline for disbursement is 2 business days after the conditions are met
  • The interest rate may not differ by more than 3,5 percentage points from the reference value
  • The disbursement fee is up to 0.75 percent of the loan amount, up to a maximum of HUF 150,000
  • The prepayment fee is a maximum of 1 percent of the repayment amount and is free of charge for apartment savings

What’s the problem with this list? Indeed, free use is not mentioned at all. You can’t take out a Personal Payday Friendly Home Loan for free use, meaning you can’t spend the money you want.

Are you looking for the best Personal Payday friendly loans for home purchase, construction or loan redemption? Use our calculator and make a simple decision!

What can be done in this case? If you need a free mortgage loan, meaning you want a large loan of over $ 10 million and are willing or willing to give the bank a mortgage, you still have plenty of room to borrow.

How to Find the Best Free Home Loan?

You can find these types of loans in almost every bank. To help you compare offers, we have created a credit calculator that will rank your products based on the features that are most important to you. You can set how much you need and how long you want to repay the loan. If you want to refine your results, also include your regular monthly net income so you can get a better idea of ​​your potential.

The calculator shows you the monthly installments you will be charged and the total repayment at the end of the term, so you will see how much your loan has cost.

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