Loans and leasing

Why is the interest rate important?

By borrowing at a lower interest rate, a person can save. For example, if you borrow 2000 EUR for 5 years at a rate of 10%, the amount of interest payment would be 590 EUR, while at a rate of 20% - 1219 EUR. This means that borrowing at a 10% interest rate for the entire repayment period would save 629 EUR. Therefore, taking care of your creditworthiness and good reputation in terms of bills and loan repayments is essential.

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