While the development of a completely new version of our product is moving, which will not leave anyone indifferent - we continue the series of posts about banking deceptions and tricks. Our previous post was quite successful, so we decided to write one more.
The desire to make the business even more profitable and maximally risk-free pushes the lender to such clever financial inquiries, which by their nature are designed to devastate the wallets of credulous and inattentive borrowers. What tricks most often go to the banks, and how not to get caught in insidious networks - read about this below.
1. Voluntary-compulsory insurance
For mortgage lending, life insurance and work ability of the borrower is a must. But often banks, in order to reraliaduce their risks and earn good money, impose insurance on the client in the case of ordinary consumer lending. Some other good examples are Axis Bank as you find Axis Bank Login here and find some great insurance and details.
Real individual loan offer of Alfa-Bank for individuals in Russia - The proposed loan amount is 508,500 rubles (on it you pay interest), 447,700 rubles (actually get in your hands)
Bold marked out what the client sees as a proposal:
A client who applies to the bank on an individual offer will find out about the insurance at the very last moment before signing the contract. All this time the bank will convince you that you take the amount of N for the interest of X, in fact the amount of the loan will be different, and you should count the rate based on how much you get in your hands.
Thus, in addition to the already substantial interest of the bank, which are pouring into a substantial over payment for three years, the client will simply have to give another plus 1040 USD Approx. By a simple calculation, the real interest rate turns from 23.90% into quite "risky" 33.70%. Either your plan is to shift your home then you have to find first some packers services; for example Movers in Abu Dhabi, Movers & Packers in Australia also many offering Cargo Services.