Banks against pawnshops: where to take the credit

Banks against pawnshops: where to take the credit

Banks against pawnshops: where to take the credit

Remarkably, when finance always suffices, and it is not necessary to borrow money. But, unfortunately, sometimes there are emergencies when additional financial expenses urgently are required. What to do, when a certain sum of money is urgently necessary, and to occupy it from relatives or friends there is no possibility? In this case it is necessary to take the credit in bank or a pawnshop. Where it is more favorable and it is expedient to go behind the credit?

Banks offer more favorable conditions of receiving the credit, than pawnshops, more often: there it is possible to receive money for longer term and under a smaller interest rate. Besides, banks have more loyal penalties for in due time outstanding credit. Also some banks suggest to obtain the bezzalogovy credit which is favorable to those borrowers who have nothing to provide as a deposit.

But, there is also a reverse of the medal: to obtain in bank the credit, the borrower should prepare and provide to the employee of financial institution the whole package of documents (including the certificate of the income) and to wait certain time while these documents will be checked. On pronouncement of the decision on possibility of receiving the credit can leave from 2-3 days to several weeks that is not always convenient and possible for the borrower.

Unlike bank, in a pawnshop you will be given out money within an hour or two, and even much quicker. But the quicker money is necessary to you, the interest rate, and, as a result, an overpayment will be higher. Besides, pawnshops, generally offer small term for repayment of credit debt – no more than three months. And for a back payment on the credit at pawnshops penalties are higher, than at banks.

To lend money, both for banks, and for pawnshops is, first of all, business. Therefore before addressing to them for the help and to take the monetary credit, it is necessary to weigh carefully all pros and cons, attentively to familiarize with credit conditions, to analyse the financial possibilities and to consider all expected risks, differently it is possible to get to such debt hole, will get out from which not so simply.

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