How João and Carla saved 275€ per month.

Also want to consolidate your credits? Do like João and Carla! Use Poupança no Minuto for a free and transparent credit intermediation service and increase your monthly budget in no time.

The couple went from paying 803.33 euros for credits to 528.02 euros.

João and Carla decided to increase their family and have a child. With Carla pregnant, the couple decided to look at their monthly budget and search for financial solutions that would help them reduce expenses.

Having a child, expenses would be higher and they wanted to maximize their income to the fullest.  

Concerned about the cost of adding a new family member, they turned to Poupança no Minuto and trusted us to take care of everything.

This couple was paying €803.33 monthly for three different credits: €405 for the car loan (€17,500 outstanding capital, APR of 5.25%, remaining term of 48 months), €348.33 for the personal loan (€10,525 outstanding capital, APR of 11.75%, remaining term of 36 months), and €50 for a credit card (€1,000 debt, without an ongoing mortgage or housing credit).

In order to reduce monthly credit burdens, Poupança no Minuto collected and presented debt consolidation proposals for the couple.

A consolidated credit aims to combine all credits into a single financing, with a single installment - usually lower.

The proposal that João and Carla chose was the following:  

• 29,025 euros of capital in debt.
• 84 months repayment term;  
• Monthly payment of 528.02 euros (compared to the 803.33 euros they were paying);  
• Nominal Annual Interest Rate (NIR) of 13%, calculated with fixed rate;
• They would have a effort rate of 24% and available income of 1,521.98 euros.  

So, by consolidating their credits through this proposal, the couple ended up paying a single installment for the financing of 528.02 euros. This translates to a savings of 275.31 euros per month and 3,303.72 euros per year, compared to the costs they were having with the different separate credits.

Note that this example only presents the calculation of the installment value. Remember that banks may charge other expenses associated with your financing. Additional amounts may also be negotiated for the life insurance premium associated with your financing. The savings presented do not take into account potential variations in interest rates applicable to the offer from partner banks.

Also want to hire a credit consolidation to pay less for your financing? Poupança no Minuto is here for you! With our direct and cost-free services, not only do you save money, but also time and bureaucracy. We make your life easier by taking care of everything for you...