What is a credit line?
- Time saver
- Simple procedures
- Convenient amount management
- Loan coverage simplicity
Advantages of a credit line
- Low interest radte
- You pay only for the amount you use
- A possibility of credit line term prolongation
How does a credit line work?
The principle of credit line can be easily explained using an example: if you need a 200 000 USD loan for any purpose (house renewal, car, buying a cottage, small business or other) and a credit line is approved for you, you have the possibility to:
- Use the amount approved gradually or at once
- Pay on the interest in the first year of the loan
- Re-use the amount of loan you have already returned (covered)
- Repay the first year of the loan in advance without any fee or commission