What is the ideal season to apply for a loan?

The “International Loan Day” has not yet been created, but that does not mean that the date you borrow money from a financial institution is not important. On the contrary, choosing the ideal date can make the difference between a good and a bad time for your finances.

Whether you are looking to undertake a new project, business, home remodeling or simply, look for a treat by making an important purchase, the right choice of the financial entity, the term and the time when you will ask for the money, they are vital for A good financial experience.

But how to choose the ideal moment? To do this you must have three criteria in mind:

 

Scheduled expenses

Scheduled expenses

Ideally, each person has an annual budget where they can schedule the important expenses they will make. This ensures that your finances are not overloaded. If you have not done so, evaluate what expenses might come in the following months and that would cause your budget to be reduced. Find that date on which you will disburse the least amount of money.

 

Important dates

Important dates

You must distinguish those dates that involve an expense, for example, national holidays (for the holidays), Christmas, your birthday or the birthday of someone very close, start of classes in case you have children-, etc.

 

Offers available

loan offer

Depending on what you are going to do with the money, you should find out at what time of the year there are more offers. For example, if you plan to use the money for a vacation, find out what the off-season is from where you will go; If on the contrary, you will use the money to buy a kitchen and refrigerator, take into account in which month more offers arise (Mother’s Day).

Although it may not seem like it, the choice of the ideal time to apply for the loan could also contribute to granting you better interest rates; For example, if you recently finished paying a debt on time.

Similarly, just as choosing the moment is important, it is also carefully choosing the entity to which you will borrow. Remember that banks are not the only options and before choosing, use web comparators such as Ponti family.

 

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