It seems that we all understood a long time ago that a clear goal can easily mark the way for us, all the factors rally to our side when we have a clear goal, and everything we need will open a door and a possibility for us, so when it comes to a clear goal for a loan, do we have one? It is worth finding out about a loan and it is worth finding out if they will give it to us based on the purpose, the purpose can be anything, renovating an apartment, building a housing unit to generate income, buying a car and even to finance a trip abroad.
There are several types of loans that are given to us today and adapted to our way of life, and to our ability to repay the loan, so we can find student loans, loans in amounts capable of financing all the years of study, with little interest or no interest at all, with the possibility of long-term payment spread, with repayment My monthly is low every month so we can continue to exist with dignity. Loans on favorable terms can also be found in the community of security service personnel, in various credit card or bank communities.
Additional loans that exist and are given to us as an option are, for example, a balloon loan, an index-linked loan, a fixed interest loan, a variable interest loan, a grace loan or a bridging period, a Spitzer or partial grace loan, and the like.
Before we ask to read the types again, maybe we should understand what each type of loan is and what are its advantages versus its disadvantages, for us personally.
A balloon loan - a loan that allows you to pay the interest and the attachment to the loan and only later, in accordance with a predetermined goal, the principal of the loan is paid, with the Grace loan, there is the same option, only that the principal is paid in accordance with payments known in advance and in accordance with the date that is pre-determined as the goal for the start of payments.
Spitzer - with this loan we will pay the interest and the principal every month starting from the first day of the loan.
Index linked loan - this loan will have a fixed annual interest rate and every month the monthly index is added according to the publication in the market.
A loan with a fixed interest rate - this loan is not linked to the index and each monthly amount is fixed and will not change according to the price of the index.
Variable interest rate loan - the interest rate will change every few years, the loan is linked to an index.
In any case, depending on our goal, we will also have a suitable loan and under suitable conditions, just like in everything in life, for the rest we have a clear goal, just like choosing a course of study according to our future goal and more... Good luck in realizing our goals!