The permanent loan
The permanent loan or revolving loan is a short-term loan that is renewed on a permanent basis. This type of credit allows the user to have capital and use it at his convenience. The amount borrowed as part of a permanent loan is usually repayable in monthly installments and is gradually rebuilding over repayments.
- Permanent loan
- Renewable credit
- Revolving loan
Loan insurance for a permanent loan
For a permanent loan, loan insurance is often an optional and optional guarantee. However, since its cost remains low to guarantee a short-term loan, it is advisable to subscribe to it in order to be covered in the event of illness, accident, disability and to protect one’s loved ones in the event of death. This is indeed a real financial security for the borrower and his family.
You should know that the insurance of a mortgage is also not mandatory, however banks usually require borrowers to join them to grant this type of loan that commits them to a long repayment period.
The rate of a permanent loan insurance may vary on average between insurers between 0.5% and 3% of the amount borrowed. This depends on the age of the borrower, his profession, his state of health …
The characteristics of the permanent loan
Also called a revolving credit, replenishing loan or cash reserve, a permanent loan usually has a high interest rate and low monthly payments. Unlike an affected loan, it is a consumer loan that is not directly related to the acquisition of a particular asset. Available in banks, credit unions and supermarkets, the permanent loan is often associated with a credit card or a loyalty card to facilitate the user’s use of his reserve of money.
As you understand, the permanent loan has various names. However, since September 1, 2010, this type of credit must be called “revolving credit” on any commercial or advertising document.
Subscribe to permanent insurance with the broker Assurance-de-pret-pas-cher.com
Use insurance-de-pret-pas-cher.com to subscribe a permanent loan insurance, it is the guarantee for you to benefit from a credit insurance at the best price and the guarantees most adapted to your situation. With more than ten years of experience in loan insurance negotiation and recognized specialist in the field of insurance, the broker Assurance-de-pret-pas-cher.com is able to offer you the insurance offers ready permanent most advantageous of the market. In addition, the team of professionals of the brokerage Assurance-de-pret-pas-cher.com remains at your disposal, informs you and advises you on your borrower rights so that you achieve the best possible operations.