Skip to main content
Whistleblowing Contact Branches ATM's

Reduce and manage debt

High levels of debt can be overwhelming, especially during tough times. Focus on reducing your debt by paying off highinterest loans first.

  • 4 min read

Optimize Your Debt Repayment Strategy

Implementing an effective debt repayment strategy can help you pay off debt faster and save money on interest. Here are two popular methods:

  • 1

    Debt Snowball Method

    The Debt Snowball method focuses on paying off the smallest debt first while making minimum payments on larger debts. Once the smallest debt is paid off, you move on to the next smallest.

    Benefits:

    • Quick Wins: Paying off small debts quickly can boost motivation.
    • Simplified Management: Fewer debts to manage over time.
  • 2

    Debt Avalanche Method

    The Debt Avalanche method targets the debt with the highest interest rate first, which saves more money on interest over time.

    Benefits:

    • Interest Savings: Reduces the total interest paid over the life of your debts.
    • Faster Payoff: High-interest debts are eliminated more quickly.

Develop a repayment plan

Create a structured repayment plan to stay organized and focused.

Steps:

  • Assess Your Budget: Determine how much you can allocate to debt repayment each month.
  • Choose a Strategy: Debt Snowball (pay off smallest debts first) or Debt Avalanche (pay off highest interest debts first).

Optimize Your Debt Repayment Strategy

Implementing an effective debt repayment strategy can help you pay off debt faster and save money on interest. Here are two popular methods:

These topics might also interest you.

Let´s discuss your needs

Get advice at a branch

Our experts are available to discuss with you at our branches.

Find a branch

Contact our call center

From any mobile network (normal rate).

Call Us

Arrange an appointment

Arrange an appointment with us in one of our branches using our online form.

Make an appointment