The MNB warns about the deliberate recruitment of consumer loans

According to the MNB’s announcement published on Thursday, due to the different characteristics of each type of credit – credit card, personal loan, commodity loan, mortgage loan, overdraft – it is important to carefully study the contracts and select the credit product that most closely matches the use.

Since consumer credit costs may differ significantly, it is worth comparing the offer of several institutions before borrowing. The most important indicator for the decision, which is compulsory in advertising, is the total rate of charge (thm), which includes nearly all interest and costs related to the loan in percentages per year. (MTI)