We wrote this article thinking about all the people who recently settled a loan at a traditional bank. We will show you how you will be able to save lots of money without much effort. Do not believe?
Hired a Credit
This tip is valid whether you have made a personal credit or a consolidated credit. It does not work for homeowners because the practices in this product are very different from the rest (and are more regulated and standardized).
Made Life Insurance (Or More)
Some banks decide to fund insurance premiums in advance. For example, if the life insurance premium is € 3,000 over a personal loan, the bank can finance this amount in the initial loan, with the difference of not charging interest on this amount (but will have to pay the respective taxes) .
Settle Credit Early
Imagine now that you have settled your personal credit or consolidated credit in advance. What happened to your life insurance? Or the credit protection insurance you did at the initial time? Well, you probably do not remember paying the full insurance premium at the initial time. And it will not be the bank to remind you of that … Maybe it makes sense to know how to optimize and save on your insurance portfolio.
If you no longer need this insurance (you do not already have the credit), you must demand that you reimburse the amount of the insurance premium for the time that is missing . For example, if an 8-year personal loan still has 4 years to go by the end of the term, you may have a few hundred large (if not a few thousand) euros to get back.
You Can Still Keep Life Insurance
If you want to keep your active life insurance you can do it. However, if your concern is to be insured it may make more sense to ask to get back all the money from the premium paid in advance and make a new life insurance (or job protection) at another insurance company. Or use that money to make a savings account and accrue some interest?
Life is unfair?
Perhaps. But let this tip serve as a warning for the need to control all your accounts and read all contracts. It is possible that your account manager will remember this field to save money, but most likely not to remember (or do not want to remember).
Consolidated Credit Becomes More Interestingly
If you are consolidating past credits in some financial institution with the practice mentioned above (remember they are not all like this) know that not only will you save money on your credit installments as it will release some additional liquidity. Perhaps to write off some of the credits more quickly . Maybe to spend. Or maybe to put money into a savings account for any eventuality.
What Will You Do With This Savings Tip?
Why not start saving money today? Just fill out the life insurance form for our brokers to present you with a simulation for your specific case. They deal with all the bureaucracy on their own, so you just have to dedicate yourself to saving money effortlessly. Simple?
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Date of Birth of the Insured Person (required)
Total Debt Amount (required)
Spread Of Credit Housing (mandatory)