How to save on a loan
Early repayment of the loan
The option of early repayment is one of the main ways to reduce the payday cost, as it allows you to save on interest accrued for the remaining period until the repayment date specified in the contract. For example, if we took out a loan for 30 days, and after 20 days we are able to pay the amount due, the total cost of the liability will be reduced by interest for 10 days. You should opt for this solution, as early repayment of the loan is not charged any additional fees.
Short repayment period
Usually, the higher the amount we borrow, the more time we should spend on it. However, when our commitment is relatively low – up to PLN 500 – it is worth considering putting it in 15 instead of 30 days. All the more so if the repayment date falls around the payment of remuneration. Payment should be a priority, so we should never postpone it, because we can forget about it. And overlooking the loan repayment date can cost us a lot. Just the prompt in the form of an SMS, registered letter or conversation with a representative of a loan company can cost us from 5 to even 25 PLN.
If you have not used the non-banking sector so far, it is worth looking at the offers of companies that offer a free loan. New customers can borrow up to PLN 1,600 (Vivus) and return the same amount after one month that was paid to them.
Reliability pays off
Loyalty programs are another way to reduce the cost of a loan. However, in order to save on being a loyal customer, you must first pay back at least one commitment. It is important to do this within the set time. For reliability we may be granted a discount on another loan. Netcredit uses such a reward system, but it is only offered from the second commitment. Loyalty allows you to get from 5 to 50 percent. discounts on commission costs. In addition, the company offers 30 percent birthday discount (valid the day before births, on birthdays and the day after). The bonus system also uses a Smart loan. By borrowing for the third or fourth time up to PLN 1500, we gain the status of a Silver Customer, which entitles us to 10 percent. discount. The fifth and sixth loan up to PLN 2,000 is associated with 15 percent. a reduction in its costs, and as a VIP Customer, with a 7th and subsequent loan for a maximum of PLN 2,500, the discount is 20%.
New customers also have the chance to save on additional financing. For example, applying for a loan in installments at Mega Credit and confirming personal data through your Facebook account, you can get PLN 10. In turn, ViaSMS organizes “Happy Wednesdays”, when the cost of the loan can be reduced by 50 percent.