Many of us can remember a time in which paying bills had to be done at a bank or through the mail. With a physical check. There wasn’t an option for automatic withdrawal or direct deposit. When searching for interest rates on credit cards, vehicle loans and mortgage home loans a borrower had to “call around” or wait for an offer in the mail.
Thankfully, times have changed, and for the better. There are now opportunities for borrowers to shop around for personal loans from the comfort of their homes. By doing a quick Google Search on a smartphone, one can find everything from current stock market quotes to the average interest rate on a credit card. If you are seeking a personal loan in New Zealand, you can start the application today through Nectar.
Technology has made it much easier to manage your debt, so we’ve compiled a list of ways you can take advantage of the technologies available to us today.
Software and apps galore
With Google offering free spreadsheet software through Google Drive, one can now create a daily, weekly or monthly spreadsheet documenting their expenses and debts. If borrowers notice they can reduce their interest rate on credit cards or other loans, the technology within the spreadsheet can calculate just how much money they will save.
There are also a number of smartphone apps that will help you to create a budget, track your expenses and make certain you pay down high interest rate debts.
Another great thing about technology is the immediacy. Instead of waiting weeks, or potentially months, to see if you qualify for a personal loan, you can get an instant decision personal loan today. We have the technology to take your data and offer you a personalised interest rate for your loan right now.
In a past life, borrowers would have to mail an application form to a lender. The lender would then crunch the data and determine if the borrower was worthy of credit and how much money they could borrow. The creditor would then send a letter back to the borrower. This could take weeks and potentially months.
Now, you just have to submit your application online and you will get an instant response. You can do this on a smartphone such as an iPhone or Android or you can do it on a computer or tablet.
*Nectar’s lending criteria and responsible lending checks apply.