The revolving credit simulator is a useful and very practical tool. Its use allows you to save valuable time in your search and not having to go to all banks and financial institutions to ask for their rates and conditions. You can find the credit offer that’s right for you in just a few clicks.
Plus, by choosing the online simulator, all you need is a simple Internet connection. The simulator also allows you to have clear, precise and detailed information about all available offers. The revolving credit simulator is intended for all those who wish to subscribe to this type of loan.
What is a revolving credit?
Revolving credit is a loan system in which the bank or financial institution makes money available to a borrower and is put into a specially opened account for the borrower.
The person applying for the credit can then freely dispose of the amount paid by the bank into the special account. The use of this money by the borrower does not require any proof. The only condition for receiving a revolving credit is repayment. The borrower must at all costs repay his revolving credit according to the defined deadlines.
The revolving credit agreement determines the monthly payments and the amount of the repayment. If the borrower wants to repay early (some or all), he is free in his approach.
The amount of revolving credit varies depending on repayment capacity and the borrower’s choices. If the person wants to exceed the specific amount in the credit agreement, they must send a new request to the bank to review the file again.
Benefits of revolving credit
The revolving credit has many significant benefits.
A revolving credit agreement is very flexible. The borrower is not obliged to have specific knowledge on the subject to be able to apply for a revolving credit. In addition, the account that is open for credit is also very easy to use. The holder can withdraw money at his ease as in a current account.
The revolving credit can be used for the purchase of all types of goods and services (real estate, automobile, …). The borrower is not obliged to provide proof to prove the use of the money.