Life without credit is something that few can boast. On average, the citizens of Lijepa nasje have at least two loans, one of which is usually a home loan. Real estate is the backbone of Croatian society, and citizens most often raise a loan for it. They are much more determined on this issue than their counterparts in other parts of the European Union. The state that subsidizes the purchase of the first property also partly helps with the aim of improving the demographic picture.
What are the most popular retail loans?
In addition to housing loans, non-purpose loans are among the most sought-after retail loans. They are the most popular because they give clients free hands to spend money on whatever they want. They are in the domain of short-term loans and are ideal for anyone who does not want long-term liabilities. They also have banks and credit houses in their offer. They are distinguished by the realization of the loan and the repayment terms.
Credit institutions allow complete realization of loans online, while banks can still only apply online. Everything else is still being done at the outlets, which greatly slows down the approval process itself. Credit houses minimized documentation and accelerated the process as quickly as possible so that the money in the account was sitting within minutes.
What are the loan repayment terms for citizens?
Non-purpose loans to citizens at banks are conditioned on a repayment period of 12 months. Credit houses allow the client to fully adjust the repayment plan to themselves. This means that the repayment period can be as long as 30 days, which is characteristic for smaller amounts, that is, three months, six months or 12 months.
This is what customers really like because it opens a new window of opportunity if they need a loan, loan or loan again. Banks are still not so flexible in this regard.
What is the difference between a retail loan and a corporate loan?
Loans for business customers are specific in nature and, as such, are characterized by more favorable interest rates, the possibility of a grace period and an extension of the repayment period. Business loans are a standard part of the supply of banks and government agencies, thus stimulating the growth of the domestic economy. Retail loans , as the name implies, are intended for the larger masses.
Interest rates also vary depending on their purpose. Long-term special purpose loans tend to have a lower interest rate than non-purpose loans characterized by shorter repayment periods and slightly higher interest rates. In the end, these interest rates are still less than those of long-term loans, because shorter repayment periods also mean smaller amounts.