Credit simulation is very important when you want to make a loan. It allows you to know all the conditions of the loan and to give you all the answers to your questions. With a loan simulator, you do not have to move around and ask for details of a loan from any existing bank or financial institution. The simulator can give you your commitments, your monthly payments and the progress of your refund.

The simulator is, meanwhile, very useful for those who want to find a credit that suits them most cheaply. You could save a lot of time by using a credit calculator whether it is for the acquisition of your real estate, for the purchase of your car or for a project you want to realize.

What is a credit?

Credit is a financing that a bank or a financial institution offers to its client to enable him to acquire property or to enable him to carry out any project. There are different types of credit and you have the choice according to your needs.

The bank or financial institution will borrow money from a person. This money must be paid back monthly. The duration of the credit and the monthly payments depend on the monthly income of the borrower and will be mentioned in the credit agreement that the latter must sign in the presence of the managers of the bank where he borrows the money. The refund must be made according to the conditions.

You must plan to pay various fees or insurance fees when you make a loan.
The bank must make available to the borrower the money that the borrower must repay with interest.

Some types of credit

There are many types of credit. Here are some examples:

• The personal loan is a consumer credit. It is intended for the financing of all types of projects. You can claim a credit amount based on your monthly income and your ability to repay it. The repayment term of a personal loan can be from 6 to 84 months.
• The mortgage is a loan that is offered to individuals who want to buy real estate. This type of credit can cover all or part of the purchase and the repayment term of the mortgage can spread over a long period.
• The professional loan is a loan that is allocated to professional workers to equip themselves or for a purchase that can help to exercise optimally their professional activities.
  Other types of credits may be granted, but those in this list are the most common.