Bank manager: How to get substantially lower interest rates

26 Dec

This simple move may be enough to make your finances far more spacious.

The debt burden for Norwegian households is high, and many Norwegians are struggling with heavy credit card debt.

According to 2016 figures from Finansportalen, 348 of 382 credit cards used by ordinary consumers have an effective interest rate of over 25 per cent annually with a debt of $ 20,000.

Only the remaining 34 cards had an effective interest rate of less than 25 percent annually.

Find out how much you can borrow or refinance with GoldBank

 

Lower interest rates and fewer fees

Lower interest rates

This quickly becomes expensive in the long run, so it is important to make a financial move as recommended by the experts:

By pooling credit card debt into one loan instead of having small credits with different players, you can cut unnecessary expenses in two different ways.

Bank manager Ronald Lerg explains:

By refinancing your small loans and pooling them into one loan, you often get a significantly lower interest rate and avoid more term charges. That way you can save a lot of money, says Lerg.

 

Has made it easier for you

bank loan

When you refinance with GoldBank, we take care of the debt you have in other banks, and you only have to think about one invoice a month. This makes it much easier to keep track of and control the bills.

In your application to us you state whether you want to spend the entire sum on refinancing, or only part of it – the rest you will then be paid out as a repayment loan. You will receive a total fixed sum to pay each month, Lerg explains.

We see that many of our customers use our loan for refinancing. This is a good solution for many, as you gain better control of the economy – and therefore often a simpler and more profitable everyday life, Lerg continues.

 

So much you can save

So much you can save

A thought example shows how much you can save on refinancing debt and small loans :

A consumer has three credit cards with a total debt of $ 150,000. The interest rate is 22 per cent on average, and the monthly fees total $ 150. By transferring the loans to one loan from GoldBank, they will save $ 13,000 annually in interest (nominal interest rate of around 13.5 per cent) and fees ($ 40 per month).

With this calculator you even see how much you can borrow or refinance with GoldBank.

 

$ 500,000 without security

money loan

At the same time as you can save large sums by collecting the debt – which you have, for example, accrued through the use of credit cards and small loans (for the payment of furniture, vacations, renovations or similar) – you also get a better overview.

Uncategorized