Credit interest rate different from bank to bank
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sidney
Apprentice
Joined: 27 Jan 2006
Posts: 4
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 Posted: 06/16/08 - 04:46 Post subject: |
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| What should this mean, if credit interest rate is different from bank to bank? It is always the case and I want to know what is the base on which they are calculating credit interest rate. I mean, why would anyone go to a bank with bad credit interest rate, when there are banks with better conditions? What seems to be the catch? There has to be something, I’m sure… |
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jocelyne
Apprentice
Joined: 21 Feb 2008
Posts: 2
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| Posted: 07/16/08 - 02:55 Post subject: |
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| I would say that it is all about competition, so they are offering bad conditions when it comes to interest rates, but in order to eliminate competition they are going to allow people to borrow money and repay it during really long period of time, and that suits to some people, while others are not so pleased. Fundamentally, you should check all the terms, not just credit interest rates. |
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