Long-term loans are rather a domain of banking institutions, but some non-bank companies also offer them. While short-term loans are only small amounts and the differences between individual offers are not so striking, large loans can save up to tens of thousands of crowns.
For long-term loans, it is clear that classic bank loans are preferable. These can only be obtained by clients who do not have a record in the debtors register and usually the applicant’s permanent income is a condition. Banks do not go into such a risk and can afford lower interest rates. On the other hand, small non-bank companies tend to focus on so-called risky clients who cannot obtain a loan from a bank. That is why they have to have higher interest and fees, because there are many more clients who do not pay their loan.
Which long-term loans are the best in the Czech financial market? We looked into the banking and non-banking sectors and selected tips for some of the most advantageous loans in both categories.
Long-term bank loans
Recently, the popularity of small banks is growing rapidly in banking services, competing with large banks not only with low or no fees, but also with clearer and clearer offerings, better terms and other benefits. The best long-term loans include, in particular, loans from Zick bank, Mebank or Zenki bank.
Zick bank Loan – one of the most popular small banks is gaining new clients not only with successful advertising spots or fresh and sympathetic branches, which differ significantly from ordinary banking institutions. The Zick bank loan is also very competitive, with no fees and low interest. In addition, Zick bank rewards its clients for repaying them with lower interest payments to anyone who repays their credit on time. You can spread the loan up to 96 months.
Mebank loan – even for this bank, loan seekers can find very favorable conditions. In 2014, Mebank even won an independent loan test and in 2015 it offers a limited loan with 0% interest for 12 months for new clients. But it is also worth a classic loan, which is free of charge, with low interest and you can repay it for up to 84 months.
Zenki loan – Zenki bank is part of the Raiffeisenbank group, but offers banking services under a separate brand. You can borrow up to CZK 500,000 for it for 72 months. With a guarantee of the lowest interest rate, ZUNO is a loan for the best long-term bank loans.
Long-term non-bank loans
Among non-bank loans, there is a lot of competition for fast pay-out loans, where several companies also offer a fee-free loan. For long-term non-bank loans, the situation is worse and interest rates are significantly higher than for a regular bank. However, there are quite considerable differences between the individual offers, so we recommend to choose really carefully – as a result, you can save a considerable amount of money.
Eicredit Loans – Eicredit offers a diverse range of different loan products and has better interest than competing non-bank providers. On the other hand, it has relatively strict conditions for the applicant (they must not have a registration in the register, they must prove income, etc.). The maximum amount of cash loan is CZK 90,000 and can be repaid for a maximum of 52 months, and up to CZK 500,000 with special-purpose loans with a repayment period of up to 84 months.
Dusci loans – non-purpose cash loans up to CZK 500,000, which you can repay up to 84 months. Dusci offers these loans in cooperation with Home Credit and is a permanent source of revenue.
Hamese loan – this is a Home Credit product, this time focused on small and fast loans. However, new clients can also get a higher loan (up to CZK 50,000) for up to 12 months.