Loans and leasing

Why a credit rating detection tool is needed?

People knowledge about loan conditions and how them are set, can be improved, according to a study conducted by Citadele Bank and SKDS. One of three residents couldn’y answer the question of what interest rate the bank would offer for a consumer loan per year. 12% of the respondents believe that the rate would be up to 5%, but no credit institution in Latvia offers such a low rate for consumer loans with a repayment period of six months to five years. These and other data shows that people do not know what interest rate they can borrow from a bank. In addition, some people think that they could not get a loan from a bank. Others borrow at higher interest rates without even knowing that they have a better deal available.

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