"The financial supervisory Pszaf is warning shoppers to closely evaluate consumer loans before accepting what may seem a lucrative offer, Magyar Hirlap writes.""Hungarians borrowed Ft 800 billion in consumer loans in the first ten months of this year, but the total volume of credits is expected to surpass Ft 1,000 billion, as the last two months account for 30% of all credit outlays, according to Pszaf figures.
The financial watchdog is advising consumers to see beyond catchy slogans and promises of 0% credit rates, warning that there may be hidden charges in the loan.
The total credit fee (THM) of commercial loans is 18-42% per year, according to the Pszaf."
Source: Hungary Around the Clock
Click here for the source!
28.11.2005