adlai
Apprentice
Joined: 20 Oct 2004
Posts: 5
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 Posted: 11/24/07 - 06:44 Post subject: |
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| I have recently started earning money and wanted to open account in a bank and getting a loan. However, a problem arose. Since I am not to reliable on their criteria, the loan they would give me would be only the secure loan, with high interest rates. Is there any way to improve my reliability, or some other way to get a loan? Thanks in advance. |
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paquito
Apprentice
Joined: 05 Jan 2007
Posts: 10
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| Posted: 12/23/07 - 23:43 Post subject: |
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| If you have only received your first paycheck and wanted to open account immediately, without any payment coming soon on your account, the bank cannot be sure you will be able to fulfill the terms of your loan. They give unsecured loans to those who have steady incomes at the particular bank. So, you can wait for several months, maybe a year and you should get a loan that does not require any deposit. On the other hand, interests rates in banks are a bit of a problem, and they are pretty much too high for everyone. The alternative method is going to a credit union. They always have lower interest on loans and higher on savings than regular banks. See if there is any credit union near you, visit them, and see what they can do for you. Best of luck. |
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