Put rates on the same basis
Do not compare a monthly rate directly with an effective annual rate. Confirm the label, period and whether the figure is nominal or effective. If the documents do not explain a conversion, ask the provider for the comparable figure in writing.
The applicable credit category also matters. Official IBC certifications distinguish modalities and periods, so a value for one category should not be treated as a universal reference for every product.
Interest is not the entire payment
Review insurance, commissions, platform or service charges and late-payment terms only where the specific documents include them. Compare the amount actually received, the schedule and the expected total payments alongside the rate.
- Same requested amount and term.
- Equivalent rate period and credit modality.
- Every mandatory charge documented for the offer.
- Payment frequency and consequences of delay.
- The final written contract rather than a promotional example.
Use current official references carefully
The approved source set includes an August 2026 certification as a dated example and the SFC rates dashboard. Rates and certifications change. Recheck the official publication for the relevant period and category before making a current decision.
A lower displayed rate does not automatically establish the most affordable option. The provider’s final documents determine the actual conditions.
If one offer quotes only an installment, request the underlying rate, term and charges before comparing it with another. An installment can look lower because the repayment period is longer, not because the credit is less expensive overall.
Record the date of every quoted rate because promotional and official reference figures can change.