Contrary to popular belief, the financing allocation fee or file expense is not the payment items that banks have to take when allocating credit or that must require the consumer. If the bank makes a change in its policies and makes a decision on a product basis, the bank may renounce these revenues.
There are already banks that offer loans without any expense, and other banks that try to compete with their loan products will have to give up this income over time. Let us transfer these banks and their payment plans and conditions as of 2019.
Banks are entitled to a legal right to receive a file expense or a financing allocation fee, but in some cases, banks may waive these payments. The banks that give up payments such as financing allocation fees and file costs rather than interest rates in order to spread to the consumer base faster are Good Credit Bank, Good Finance, Good Lender.
Good Credit Bank Expense Consumer Loan
Unlike the standard consumer loan product, Good Credit Bank launched the Expense Consumer loan product in order to benefit consumers who do not want to make payments such as financing allocation fees or file expenses. Thanks to the loan product in question, it is possible for consumers to take out loans without having to pay any expenses.
The interest rate to be paid for the Expense Consumer Loan product that can be matured up to 48 months is 1.26%. Consumers who want to apply for a loan for a free consumer loan should go to the nearest Good Credit Bank branch along with their income certificate, residence, and identity card.
Good Finance Cost-Free and Interest-Free Needs Loan
Good Finance introduced a zero-interest loan to meet the needs of up to 1000 USD without interest and expense. All consumers who want to take advantage of the said loan need to do is to open one deposit account via Good Finance and to give at least 2 automatic invoice payment instructions to this account.
Upon ordering the order, interest-free, interest-free consumer loans up to 1000 USD can be used instantly. It is not necessary to take out insurance to benefit from the loan in question.
Consumers who use the general-purpose loan of 1000 USD, which can be matured up to 12 months, will have to pay 83.33 USD in installments each month.
Good Lender Retirement Costless and Interest-Free Loans
It is possible for pensioners to use interest-free and inexpensive consumer loans up to 2400 USD or earn 2 quarters of gold if they move their salaries to Good Lender. It will retire the choice between a quarter gold or interest-free loan.
It is possible to terminate the 2400 USD interest-free consumer loan product up to 24 months if retired customers define a salary for a deposit account that they can open without making payments such as account management fees or EFT/money transfer fees.
Within the scope of the campaign, retirees who benefit from a loan without interest or a quarter gold gift should undertake to pay their wages through Good Lender for at least 3 years. If the commitment deteriorates before 3 years, the loss of the bank will be issued.
Legal Rights in Loans
Since the consumers do not know their legal rights arising from the credit they have taken, they are often guided by hearsay information and can be victims. Therefore, it will be useful to briefly touch on the most important legal rights in general.
Insurance is not compulsory
Banks do not have the right to require insurance for the loan to be used. Unless requested by the consumer in writing, it is not possible for the bank to start insurance transactions in any way. In addition, it is not mandatory to take advantage of the bank’s own insurance service, the consumer can work with the insurance company he wants and the bank has to accept it.
No Money Paid for Credit Account
It is a very important detail, but banks do not need to be able to earn more profits, but they open a demand deposit account instead of a credit account and charge an account operating fee through this account. If a credit account is opened and it is committed that this account will not be used for any transaction other than credit payments or credit allocation, these payments are not required.
Banks usually open one loan account and allocate the loan to this account, but also share the details of the demand deposit account as an account that needs to be opened and deposit money. In other words, the account management fee is actually paid for the second account opened and it is not absolutely necessary to pay.
You have the right to withdraw within 14 days
If you use a loan and give up within 14 days of using it, you can return it as if you had never allocated it without paying any penalties or any commission payments.
You can also find information about current campaigns through which you can apply for a loan without going to the branch and get your credit to your account instantly.