With the proximity of the Christmas holidays, many Spanish homes begin to plan the expenses they will face, and observing the great expense that is going to be made, many go to the financial institutions to request one of the well-known Christmas loans offer on these dates, to cover any unforeseen expenses that may arise.
In recent years there has been a decrease in the consumption of most households in Spain due to the financial situation of most of them, but despite supposing an effort for most of these households, many people due to the “expense and waste” culture that has been established in society today, they see these expenses as a necessity and in order to meet them they choose to apply for a Christmas loan. Each Spanish household will have an average cost of 670 dollars this Christmas of 2013, 3% more than last Christmas in which Spanish households spent around 659 dollars.
A solution may be the credits or personal loans offered
Among the expenses incurred by families are family meals, gifts for Christmas and Kings, travel and the end of the year night. Given this amount of expenses, at Christmas whose purpose is none other than the financing of these expenses. Among the financing options presented there are several ways to meet these Christmas expenses. On the one hand we have the Christmas loans offered by financial institutions. On the other hand are fast loans and credits. Finally, we find that many families decide to defer payments using credit cards.
What forms of financing exist to meet these Christmas expenses?
In the first place are the loans for Christmas, whose interests range between 6% and 12%, the repayment term being between 1 and 7 years, and the amounts granted are usually up to 30,000 dollars . Another form of financing is the rapid loans offered by private equity companies in most cases. This form of financing allows to obtain an amount between 600 and 12,000 dollars, at an interest rate that is between 20% and 28% and that can be repaid in a period between 1 and 6 years.
The inconvenience of this form of financing is none other than the high interest it presents, in addition to the high interest on late payment that may be incurred in the event of default. The use of the credit card to finance these Christmas expenses should be done with a lot of eye, since after Christmas comes the famous “January cost” and you should take into account the expense that is going to be made so as not to take a surprise later. Interest on using these credit cards will depend on the nominal monthly interest paid, but taking into account an annual nominal interest between 1% and 1.5%, interest can be triggered at 15-20%.
Among the most prominent credit cards we find:
- Lender bank Card 123 (which returns a percentage of purchases made during the Christmas period).
- Cream Bank.
- Capital Lender (with a 5% discount on purchases made during the period according to the specific period in which we are).
- Lite Lender, Creambank.
Special care must be taken because in deferring payment on many occasions you can “spend in an excessive way”, and as you can see the interests are also high despite the discounts offered, so if you do not have a Some control, this use of the cards can be a problem for homes.
Best Christmas Loans
Next we are going to see the best Christmas loans that are offered in the market and that can help with the expenses that can be had this Christmas of 2013: Fine Bank, BBK: Loan that is granted within 24 hours of being requested, for a minimum amount of $ 300 and a maximum of $ 6,000. The repayment term is up to 60 months, and the interest rate is around 9%. It is offered without opening commissions.
Good Lender Loans, Best Bank: This personal loan can be contracted from $ 500, without interest, with a repayment term of up to 10 months. For a period of 3 months the opening commission is 2.5% and there is no study commission. For a period of 6 months the opening commission is 3% and the study commission is 1%. For a period of 10 months the opening commission is 3% and the study commission is 1.5%. Disposal Loan, Lender Bank: This personal loan can be contracted from $ 500, at an interest rate of 7.95% for clients with payroll domiciled, and 8.95% for clients without payroll domiciled, with a repayment term between 1 and 5 years. It is offered without opening commissions or study. Pre-granted Loan, Best Lender Bank:
This personal loan can be contracted up to a maximum
Of $ 12,000 at an interest rate of 10.48%, with a repayment term of up to 10 years. It is offered without opening commissions or study. Personal Loan Consumption, Lender Cream Bank: This personal loan can be contracted up to a maximum of $ 30,000 at an interest rate of 7.90%, with a repayment term of up to 7 years. It has an opening commission of 1%. As you can see Christmas can be a significant expense for the home.