3 Tips on How You Can Do Loan Research

Mar 07, 2016
Author: Ean Barnard

Legitimate online loan research requires more than just 5 seconds with Google. It is not called Re-search for nothing! Patient repetition and sensitive filtering of the bulk is the key to getting effective results. Take a moment and quickly search for “personal loans South Africa” - you get over 7 million results! This is truly, ridiculously wild. Just how are you supposed to get effective results? - and when you do, how do know if you’ve found the right lender?

If you’re seeking serious help in covering any unforeseen costs by applying for a loan, your help has arrived. It’s been here for quite a while now, you've guessed it… let’s welcome the internet and do some loan research!

You might think that researching financial products is boring, time-consuming and difficult, but this doesn’t need to be the case. The internet has made financial and loan research easier than ever, all it takes is a few minutes set aside to compare loans online from different lenders. After all, Fincheck would like you to get the best deal possible.

We’ve assembled 3 Top Tips for doing effective loan research:

1. Find out what the product does.

Firstly, you need to find out which loans are available and what they cater for. Find a website you find easy to use, with clear information that you can trust, and start reading on the various loans available and what the do. This is key in not applying for the wrong type of loan, as most loans are specific to the use of the funds.

2. Find a loan that suits your needs and look for the best deal.

Once you know what type of loan you need, it will be to your benefit to dig a bit deeper. The easiest way of doing this in your loan research is through a loan comparison website such as the Fincheck loan comparison page. All it takes is entering your details and it’ll present you with and match what you’re looking for.

3. Remember to read the fine print.

Once you’ve found a deal that looks like it’s for you, make sure you understand all the cost structures and fees so you don’t get caught off-guard. When doing loan research, always remember to check the providers’ website and look at the appropriate agreement documents. This will tell you more about the loan and what is and isn’t included. If you’ve got any further questions, it’s well worth getting in touch with the lender. Also, feel free to contact us with any questions here. It can be well worth it to ask your friends and family on their views on loans. Perhaps they could have some valuable information to assist you - but, remember to measure up their information against a reputable source.

 
Those that don’t do any research may be missing out on deals that could potentially make their money go further. Thus not doing any research can be harmful as you may end up with a loan that is totally inappropriate in meeting your needs. Here at Fincheck, we’re confident that you’re doing proper loan research, after all, if you’re reading this article, you are well on your way!

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Fincheck is a financial comparisons website that organises information to assist the borrower in making their best financial decision.

Fincheck gathers information from numerous banking partners and presents it to the borrower in a simple, understandable way. Lenders benefit from an additional market place and extensive customer reach. Loan amounts vary from lender to lender. Fees, interest rates, loan amounts and credit scores influence the repayment terms. Lenders require personal details to control their risk and assist the government to combat theft, money laundering, terrorism. Fincheck does not endorse any particular product or company. We are an independent company. The information shown and provided is an opinion, based on numbers and must not be seen as advice or consultation.