When it comes to thinking about our finances, the most popular entities to consider opening a savings account or applying for a loan are usually banks. Because of their history, they are positioned in people’s minds and many think that it is the only alternative for their portfolio. However, this is not so.
Although banks have different advantages such as benefit programs for users, locations in different places, types of platforms, proven strength, among others, there are other options that you can use to apply for a loan and may even be cheaper than Traditional banks
It is about cooperatives and financiers
These types of institutions are smaller and more limited than banks, but they represent a cheaper alternative when it comes to applying for a loan. The difference between annual interest rates can be up to 5% less, depending on the user’s credit profile.
They tend to be more flexible entities, since their main purpose is to help their associates. This implies that those who resort to them are not customers, but “associates”, that is, they become co-owners of the entity.
Now, what you should keep in mind is that before opting for any of these options, it is necessary to verify that the cooperative has been constituted correctly and have the corresponding authorizations. These are monitored by the Financial Superintendence, so you can breathe easy.
So, if you need to apply for a free investment loan, use Columbine to
Compare not only the interest rates of banks, but also of cooperatives and financial institutions.
Here’s how to get rid of a lot of unnecessary stress
First of all, repeat yourself many times: “I wish to free myself of my debts, not to hold an irreproachable credit rating”. Then, if you are experiencing financial hardship, set three reasonable goals: Benefit from a surplus in your budget: every month you must earn more than you spend. Eradicate your debt: eliminate as much debt as possible, first attack the biggest debts. Consider savings: leave aside sums for unpredictable situations, your retirement and your plans for the future.
From now on, it is important to make beneficial financial choices for your family, your household or simply for your person. Your credit rating should never worry you if you can actively and carefully follow the three previous guidelines.
Say “never again” to credit and live within your means! Do not necessarily get rid of your credit card! It is not recommended to stop the full use of the credit card as a method of payment, but rather to reconsider its use if you do not believe you have the possibility to repay the entire statement of account when his reception.