He is thinking of applying for a loan and ends up dating more than one thing granted by the bank, how good will this situation be?
Financial institutions do not miss an opportunity when they have found a good client and if they verified their profile and it was approved, they will offer one or another thing to make the offer more attractive and to encourage them to hire them.
This may sound pretty good, but it is not necessarily so
When you apply for a free investment loan, the related products that banks usually offer are life insurance for the duration of the credit and unemployment insurance in case you lose your job while paying the debt. Many people get excited and hire all the possible additional ones thinking they are saving a lot; However, it’s not always like that.
Before making a decision, evaluate the following points:
1. How much extra will you have to pay?
2. Compared to other companies, does that price suit you?
3. Are they giving you facilities for acquiring those products?
Credit option
If the answers to these questions are positive, then you might consider accepting those products, but always taking care of your borrowing capacity. Ideally, take a moment to compare all your options and do the same with the credit option. Before requesting one, stop two minutes and use web comparators such as Lydia Languish, to see all the benefits in one place and keep the lowest rate and the best products.