Many times, the financing offered by banks is accompanied by special promotions of loans or credits. It is a way to reward customers, to retain them or to invite new people to try their services.
What are the special promotions of loans or credits
The most common and that should be taken into account when requesting these financial products are the following:
Interests more low
One of the most used promotions in banking, is a low percentage in the TIN and APR of the loan; this if the payroll is domiciled. In addition, some usually include a decrease in management fees, they may even remove fees. Granting a loan or credit requires a prior study of the borrower’s situation. This used to entail certain commissions for the study and the opening of the loan, but already certain banks are eliminating them for their clients.
Old Age Benefits
When you have been a client of the same entity for some time, some banks often offer loyalty promotions. These promotions usually arrive via email, so it is advisable to always look at these emails. Another common case is that some banks reduce the interest on loans for their regular customers. Likewise, if from the beginning as a customer other financial credit products have already been used and returned on time, and no debts have been incurred. The bank can reward with lower interest for the following loans. They are what are called promotions for good credit history.
On the other hand, financial institutions also offer attractive promotions for new clients. This is a formula used for a long time to attract new customers. These promotions usually vary constantly and are for a limited time.
Other bank promotions
For new clients, there are promotions for which it is not necessary to have an account with the bank. These offer loans of different amounts that can be requested via the web. There are also special loans which have better interests, thanks to the utility given to the loan. An example of this is sustainable loans, better known as green loans. Its advantage is that TAE and TIN interest rates are reduced.
In addition, banks can offer so-called contingency expansion loans. These serve to meet emergency expenses or punctual purchases. They are promotions with which the client has the money immediately and has very flexible deadlines to return it. For amounts such as USD 3000 or USD 5000, or loans to invest; where the entity leaves the money to encourage the client to use the investment products.
They give the opportunity to pay the mortgage with a variable fee, depending on whether the Euribor goes up or down. Regardless of whether the euribor rises or falls. And mixed, a combination of the above. For example: 10 years fixed fee and the rest variable.
It is best to compare the special promotions of loans or credits of the different banks.