How to save money by paying off a loan in foreign currency

Posted: August 15th, 2013 | Author: | Money

Foreign currency loans were once very popular, especially those taken to buy an apartment. Sometimes, however, one could find that they were not so good solution, because fluctuations in currency exchange rates are reflected in the amount of monthly payment, sometimes turned out to be lower than expected, and sometimes higher.

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However, you should know that you can save some money for the repayment of such loans. At the moment it is possible to pay the monthly payment in the currency in which the loan dragged. It is widely known that the course of purchase and sale is different, they also vary in their individual institution, whether in bureau or banks. Knowing the conversion of the bank, which repaid the debt, we can find another institution that sells the interesting currency cheaper. Although the difference may seem small, it must be kept in mind that the greater the amount repaid, the greater the difference is. Sometimes a few cents difference, for example, the Swiss franc, it may take a few zlotys monthly savings. This is the method recommended for people who want to save.

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