- In a credit only interests are paid on the used capital, rest of money is at our disposal but without for it we having to pay interests.
- The loan does not admit renewal, to the expiration of the established term it would be necessary to carry a new loan contract out.
- At the end of the term, the credit admits the possibility of renewal and enlargement, all the times be needed, of the available maximum.
- The loans usually have interest rates lower than the credit, although, as we have seen earlier, there must be paid interests in the totality of the granted amount.
- In the credit the interest rates are usually higher that in the loan and the pay-off period generally it is shorter. Although this always depends on the conditions that are agreed by the entity.
- Generally we use the loans to acquire goods of long duration as housings and cars, that is to say, products of that we know his price.
- The credits, nevertheless, they are used usually by professionals, businessmen or autonomous, that need liquidity in certain moments and that do not know exactly when how much they are going to need. Also you present yourself with regular income that want to have money as his needs for every moment.