Today we are going to talk about consumer loans for young people in general. In this blog we have already discussed topics such as loans to buy a car, to study (tuition payment, study abroad, or for postgraduate studies), or to create a company. But what if we want to buy a computer, a stereo, a professional camera or want to take a trip or get a driving license? What options do young people have to finance their projects and their dreams?
Loans for young people do not differ much from other loans since there are entities that offer up to $ 60,000 with repayment periods that can be extended up to 10 years. Its difference with other loans is that these loans for young people are cheaper, so to speak. Thus, the expenses for opening, early repayment and case study disappear in this type of loans. And in the event that if there are any of these extra expenses, the amount to be paid may be less than in a “normal” loan.
As for the interest to be paid, these loans for young people are usually accompanied by a fixed interest rate, which ranges between 6% and 12%, lower percentages than those of other loans. Of course, the requirement to apply for one of these loans is between 18 and 25 or 30 years.
Entities that offer loans for young people.
This loan is intended for young people between 18 and 30 years to finance any type of project or expense. The maximum repayment term is 6 years, with an interest rate that will remain fixed throughout the life of the loan, that is, the interest rate of this loan will not change even if market interest rates change.
For young people between 18 and 30 years old, Fine Bank offers a credit of up to $ 30,000 to be repaid in a maximum of 5 years in monthly installments, being able to choose the day of the month in which you wish to pay your fee.
Zero loan offers up to a maximum of $ 60,000 for everything you need, with a repayment of up to 7 years and no opening costs, studies, or early cancellation. Consumer loan offers between $ 500 and $ 30,000, to be repaid in 7 years, to also finance any expenses.
The Consumer Loan is intended for young people between 18 and 30 years old. It offers a maximum of $ 60,000 and a repayment term of between 8 and 10 years offering the possibility to choose between a fixed or variable interest rate. The 0% Young Credit is also intended for young people between 18 and 30 who wish to finance small expenses such as the purchase of a computer or the payment of a driver’s license. This loan offers a maximum of $ 1,800 to be returned in 6 months at a nominal rate of 0%.