The amount of USD 3,000 is a large amount of money for most of us, which cannot be saved from one monthly salary. That is why a loan for USD 3,000 is one of the most often paid out by both banks and private loan companies. Let’s check where to borrow USD 3,000? In the bank.
Each bank is a public trust institution governed by law, which is supervised by the PFSA (Polish Financial Supervision Authority). Banks are obliged to act not only for the benefit of their own interests but also for the benefit of consumers. Therefore, if we intend to obtain a cheap loan, it is best to use the bank’s services. There are relatively many of these in our country today – so there is plenty to choose from.
The amount of USD 3,000 is a small amount for the bank
Such a loan can be obtained in the form of consumer credit (e.g. cash). When looking for the best offer for this type of loan, it is best to be guided by the APRC (real annual interest rate), which includes all debt costs, so in addition to interest (nominal interest), a commission for the bank, a preparation fee, and insurance. Banks grant loans divided into monthly installments.
In a non-bank company
When deciding on a loan in a private company, be prepared for the high costs of obtaining debt. In this case, however, we can choose not only installment loans but also payday loans, i.e. short-term loans that must be paid back in full within a specified period, usually not exceeding 30 days. Private loans are characterized by a minimum of formalities and high granting.
The great advantage is also the speed of customer service, which is able to raise money even within a few minutes of submitting an online application. Currently, the market for non-bank loans is very competitive, which also translates into the amount of costs of this type of service. It is much cheaper to borrow money on the parabank today than it was a few years ago.
Of course, the cheapest we can get money from family or friends. In addition to this, you can borrow money without costs, no one will ask us about the amount of income, and also will not check our history credit. However, this solution has more disadvantages than one would expect.
It is worth remembering that loans are one of the most common causes of family disputes. When using a loan with family or friends, we also run into uncomfortable questions that the lender may ask. Another problem may arise if you need to extend the repayment time, or when a relative or friend asks for a refund before the set date.