What is interest rate and how is the loan installment calculated

Continuing my last post, here I’d like to present you some basic information about the mechanism of calculating loan installments. I hope it will be helpful for people who did not have any experience with loans and want to get a loan in the near future. The interest rate is the main cost of borrowing. [...]

Creditworthiness - how banks assess borrowers before granting a loan

My experience shows that many people search the internet looking for explanation on how the banks assess creditworthiness of the potential borrower before granting a loan. Below I am explaining this issue shortly. It’s quite important, because before the 2008 crisis there were many too many loans given to clients who shouldn’t have received it. Every [...]