Apply for a loan? – Lending for responsible and profitable money.

Applying for a loan is child’s play nowadays. You can fill in various application forms online and usually receive a response from the loan provider within half an hour. Borrowing money, or at least applying for a loan, can go very quickly. However, applying for loans haphazardly will not bring you much.

The question is, of course, where you can apply for a loan at an affordable price, where can you get a loan with a low interest rate? And with good conditions? And where do you need to apply for a loan without BKR testing?

Apply for a loan

Apply for a loan

Apply for a loan? Then it is important to make a selection of parties where you want to apply for a loan. If you want to borrow cheaply, you can generally omit the banks such as Litebank, Infrabank and Cream Bank. They charge higher interest rates than the specialized banks and lenders. For example, applying for a loan from Good Lender is much cheaper than applying for a loan from Cream Bank. This difference can amount to 3 to 4% on an annual basis. So first look for specialized lenders. These can be intermediaries or banks with a separate branch for loans.

Is applying for a loan through a credit intermediary more expensive?

This is a misunderstanding that we have seen in recent years. The downfall of large companies such as Across Lender and Spin Lender has of course done no good for this. Times have changed, however. Borrowing cheap money is now more often through an intermediary than with the banks. It is therefore their most important source of income for intermediaries. They benefit from keeping you as a customer for as long as possible, and of course they only do this if they make you the best offer. Otherwise, simply switch to another provider.

Apply for a loan without BKR testing

Applying for a loan without BKR assessment is only possible if you are going to borrow money from friends or take out a loan in the form of a mini loan. A mini loan is a small loan of up to $ 1,500 that you have to repay in full within 62 days. It is a more expensive form of borrowing money because, in addition to interest, closing costs can also be charged. Because of these additional costs, a mini loan can become an expensive loan. The big advantage is of course that it is the only commercial form of borrowing money without BKR testing.

Best checking account for loan: how to save?

How to choose the best checking account? What are the costs that should absolutely be avoided and what are the conditions that must never be renounced? Common questions that arise even when taking out a loan, for example the weight that the monthly reductions can have in the total calculation of expenses. Each of us would like to be able to rely on a single bank, and also have the best current account per loan here.

In this way you would enjoy a significant simplification: a single account with which to balance the accounts, keep the deadlines under control and perhaps be able to save money by moving some sum to a deposit account or savings account. When doing research, the best starting point always moves the right questions, so let’s see what conditions and characteristics are to be evaluated.

1) Is the online or classic account better?

1) Is the online or classic account better?

We are used to the fact that making online purchases of various kinds (from insurance to trading, from designer products to more cheap ones) allows you to almost always get a great deal of savings. So why for an online checking account the situation should be different? In short, it is assumed that the best current account per loan is necessarily online. But it may happen that at the end of the month the accounts of the costs incurred for keeping the account itself do not return. Is this a scam?

No, the wrong product was simply chosen. First of all, the offer of a banking or postal relationship via web, to be managed mainly independently, focuses precisely on the fact that most of the operations will be carried out thanks to the help of the software, without the intervention of the bank operators. So if you turn to staff working in an agency, you have to pay a “price”.

Online current accounts are better than traditional ones, if you decide upstream to make use exclusively via the web, excluding all or part of the more traditional intervention.

A very typical example is found with Orange Current Account : a zero-expense account, which includes wire transfers, loan rids, debit and credit card fees (also Visa Oro), and no management or communication costs if you manage it online. But if you choose paper communications or request transfers with other channels, then you can get to spend up to 5 euros per operation.

2) What costs shouldn’t be on the best current account per loan?

2) What costs shouldn

There are many cost items to consider and sometimes it is difficult to identify them all in an information sheet. To simplify the evaluation phase, particular attention can be paid to some items that should be zero or resettable with some simple choices:

  • communications and bank statements : choosing the digital option should not have any hosts applied;
  • unlimited transactions : if a limited number of transactions is associated with each period (month or quarter), then something less expensive must be sought;
  • taxes, mortgage reductions and loans, taxes and domiciliations : from F24, to the MAV until the domiciliation of the utilities, the service should be offered free of charge;
  • wire transfers : in some cases for the Sepa area they are included in the monthly fee.

If an account has zero expenses then it can provide for a contribution to the operation. Here you must be very careful observing the limit above which an increase in the commission applied is triggered, and the difference in costs depending on the channel used (internet banking, phone banking or physical counter).

Instead, they can be optional: annual ATM fee, annual credit card cost, contribution for renewal or change of pin.

In this regard, one of the best examples is represented by the Cream Bank current account at zero cost both for the fee and for the expenses including: top-ups, domiciliations and wire transfers.

The account offered by the Lite bank online bank also guarantees, thanks to the promotion with Amazon, a voucher of 150 euros (which can be subscribed to by clicking on the following banner).

Conclusions

Conclusions

Once the various offers that do not shine for convenience have been discarded, one must firstly make the very fact that the best current account is not “forever” and is not “absolute”. For the first aspect, you must always be up to date to move according to your convenience by taking advantage of the facilities for moving your account and the various rules on liberalization.

Remember that domiciling a loan on a particular current account does not force us to keep it open until the loan is closed. In fact, it will be possible to close it at any time by personally taking care of the communication of the new iban to the bank (or the financial company) or to rely on the new credit institution thanks to the Move account services (see also Inps pension credit bank change ).

3000 USD loan without guarantees: is it possible?

That said, the guarantees that the lender may want can make a big difference. With this in mind, we first make a distinction between the guarantees that are most in demand. Consequently, we analyze what choices remain, even in front of a small loan such as 3000 USD, if there is no guarantee to offer.

3000 USD loan without guarantees: what alternatives?

3000 USD loan without guarantees: what alternatives?

If you are without personal income guarantees, you can consider having a co-debtor (who will be the co-owner of the 3000 USD loan) or a guarantor.

This solution is always feasible but can meet a limit in online financing requests, since it is often a practice that in the preparation and investigation phase is more complicated. In these situations, it is necessary to consider turning more to banks or financial companies with agencies than to attempt the online DIY path.

If, on the other hand, you are without income guarantees and not even guarantees that can be offered through a guarantor or a co-obligation, you can try to evaluate the loan on pledge. In this case, the guarantee moves to an object of value that is left in custody to the lender, to be redeemed at a predefined term in the contract.

If the asset is not redeemed, it is sold at auction and in any case the property is lost. Here the problem lies in the fact that not all objects are valued and accepted as guarantees, and there are not many realities that offer this type of service.

Loan 3000 USD: is Lite Lender possible?

If the request for the sum as a loan of up to $ 3000 is justified by a purchase, then a seller who sells that asset can be evaluated by offering it as a Lite Lender method. However, even if there is no need to provide profitable documents, you still have to be a good payer to hope to see your request accepted.

Furthermore, if in an absolute sense a 3000 USD loan does not represent a high sum (it is included in the category of the small loan), instead for purchases with Lite Lender it starts to be a considerable sum.

Transfer loan – Lending makes your loan affordable.

Transfer loan

Transfer loan

If you are currently on a loan and want to transfer your loan, this can be beneficial. However, do not be tempted too quickly to transfer your loan with the first offer. Comparing loans always helps to transfer your loan even cheaper. Transferring a loan takes some time and if you want to save extra money, it is wise to look closely at your options.

How can you transfer your loan inexpensively?

How can you transfer your loan inexpensively?

If you want to transfer your loan inexpensively, it is important, as already indicated above, it is important to compare providers. However, this is not all, transferring a loan also requires looking closely at your own financial position. Many consumers think of a loan only on their revolving credit or personal loan. But many consumers have even more loans. Also a credit card, overdraft on the payment account or buying on installment with, for example, the Litebanks are loans. And it is interesting to borrow these kinds of money. In many cases you can save a lot of money on this. A credit card, or the overdraft on your payment account can cost you up to 15% interest per year. So keep this in mind.

Don’t be tempted too easily

Don

This may sound strange. But what we mean by this is that it is tempting to lower your monthly expenses. In practice, we have seen that consumers opted for a higher interest rate, but a lower monthly payment. As a result, the loan was spread out endlessly. The term of your loan is extended considerably.

Transferring a loan has then become an expensive affair.  Certainly with the current financing contracts you can easily and quickly check whether your loan is going in the right direction. Banks are obliged to provide you with insight into the total costs involved in the loan. They must indicate to you what you will pay in interest and repayment during the term. This is stated on the ESIC form.

Transfer personal loan

Transfer personal loan

We would like to pay extra attention to transferring a personal loan. After all, transferring a personal loan is not the same for everyone. It depends on which bank and when you took out the loan. With a personal loan you are not always allowed to repay extra penalty-free in the meantime. Check this carefully in the conditions of your loan. Do you have any doubts? Then call the bank where the personal loan you wish to take out is running. This can save you a lot of money. If your bank charges a fine for early repayment, you must include it in your calculations.

Loan repayment – since when has interest been paid?

When you have obligations on your account, you must respect a certain repayment date. This is very important because failure to comply with the repayment schedule can lead to the addition of penalty interest.

This is particularly important in the case of free payday loans, where even a day of delay in repayment means adding high costs to the amount. However, what if the payment date falls on a day off?

Loan repayment – since when has interest been paid?

Loan repayment - since when has interest been paid?

It is already known that if the loan installment falls on a day off, it is moved. It is important, however, that the date of receipt of the account is binding. If you make payments on the last day of the deadline and the money is credited to the lender’s account only the next day, you must take into account the possibility of charging penalty interest for late payment.

This situation occurs if there is no compliance of banks, so for your own safety, it is better to make payments in advance. This should be noted especially in the case of free payday loans, which must be settled within a strictly specified period.

The law clearly specifies which days of the year are public holidays. In addition, all Sundays are also included. Until recently, Saturdays were treated as a normal business day, however, the amendment to the provisions of the Civil Code caused that this situation changed. Currently, the maturity date is not used on Saturday, because in the case of repayments, this day is treated as free. In addition, the table presents public holidays regulated by art. 1 of the Act of January 18, 1951, on non-working days:

When calculating the due date for payment of liabilities, it is necessary to take into account the day of payment. This is important not only for loans but also for other receivables.

Payment deadline on a non-working day

bank

By following the payment schedule, it’s worth knowing that if the last repayment day falls on a day off, it shifts to the next business day. In practice, this means that if the loan installment was to be settled on March 22 and it falls on Sunday, the payment automatically goes to Monday, March 23. The last day of the date on holiday is moved to a business day also in the case of:

  • tax,
  • invoices,
  • ZUS (Social Security Office) contributions,
  • loan repayments.

However, you should not delay the payment at the last minute, because exceeding the deadline is associated with the accrual of interest.

Loans without GFI are available in Poland?

The term “loan without GFI” is still very often searched on the Internet. This is despite the fact that the offer of loans without verification in the database of the Fine Bank Information is becoming ever larger.

The good conditions of cooperation offered by the said institution meant that many lenders began to check clients in GFI. Maybe soon all non-bank loans will have to do so.

The government has recently proposed regulations requiring lenders to verify the customer using data from the Fine Bank Information.

New limits on the cost of non-bank loans

cash

It is worth introducing this topic about the obligatory verification in GFI, because it does not enjoy the interest of national media. Journalists more often write about new limits on the cost of non-bank loans.

They may be introduced as part of the same set of regulations as the lender’s obligation to use the Fine Bank Information.

There are only a few “moments” left without verification in GFI

The eventual obligation to verify future borrowers in GFI would not change the situation of such industry leaders as, for example, Honest Bank, and Fine Bank. The companies mentioned have been using the services of the Fine Bank Information for a long time.

Our analysis conducted at the end of May 2019 confirms that loans without GFI have become a market margin and the number of companies offering them is small. The table below presents information about such lenders who still do not “look into” GFI.

As an example, you can give the offer of Cooperative Bank (providing loans also under the brands EkspresKasa and KasaTAK!). This lender, despite the lack of customer verification in the Fine Bank Information, does not require income certification, lends up to USD 10,000 (as part of the installment offer) and offers a free loan for new customers (up to USD 2,000 for 15 days / 30 days).

The possibility of borrowing funds for free (up to USD 3,000), new customers are also tempted by PLUS loan . This lender additionally stands out with the option of paying off debt for 45 days and a high limit on the amount borrowed (up to USD 10,000).

It is not yet known whether government plans will come into force …

cash

For some time now, there has been a tendency to regulate the activities of non-bank loan companies. Already, such entities must meet certain formal requirements (regarding e.g. the amount of share capital), be entered in the register kept by the Fine Bank Investment Corporation and respect the limits on the amount of non-interest costs after loans.

The package of regulations on loans proposed by the government (known as the “Anti-Liaison Act”) introduces further restrictions for lenders.

We have already reported on our portal that the Ministry of Justice, as part of the proposed provisions, again intends to reduce the maximum limits on non-interest costs in consumer loans.

These limits, depending on repayment time, are expected to fall by approximately 20% – 25%. If such legal changes come into force, then the companies granting the most expensive loans will have to change their offer or withdraw from the market.

Reduce the maximum limits on non-interest costs in consumer loans

money

From the point of view of some lenders, the threat is also the obligation to verify the client in GFI, which is provided for in the anti-usury act being developed. A draft regulation providing for the obligation to check customer history at the Fine Bank Information was published in February 2019.

Recently, information appeared suggesting that the government may change its position and order lenders using the GFI or one economic information office. Despite this change in design, the lenders will follow his fate closely. The draft anti-usury act is at the stage of work in the government and will not yet reach the Sejm.

Therefore, it cannot be excluded that the topic of obligatory verification of applicants with the help of GFI or other solutions unfavorable to the loan industry will return.

Another unknown is whether the new rules that the government is working on will be passed before the autumn elections. If this does not happen, the new Parliament will have to start working again on regulating the non-bank loans market.

Loan 30000 Dollars you can achieve an impact of the installment that is quite easy to sustain

A loan of $ 30,000 until a few years ago represented the maximum financing obtainable in order to take advantage of the protection intended for consumer credit.

Today, since this threshold has now been raised to 75,000 USD, a loan of 30,000 USD represents an important but not particularly high figure, which allows repayment even in 120 installments.

We are therefore talking about a legislative condition enacted with the law decree 141/2010 which entered into force in June 2011.

Precisely for this regulatory aspect, the choice of the bank or financial institution to which to turn has become even more important precisely because of the expansion of the choice options that these can reserve for its customers.

Loan 30000 USD: general characteristics

Loan 30000 USD: general characteristics

A personal loan of $ 30,000 has the undisputed advantage of not needing any supporting certification. By choosing a fairly long amortization plan you can achieve an impact of the installment that is quite easy to sustain.

Before moving on to practical examples, however, we must highlight that between the amount that can be requested (which in this specific case is on a loan of 30 thousand USD) and the maximum duration of the amortization plan, we must also consider the type of credit policy that the bank adopts .

For example, Best Bank does not set limits: if you choose a minimum or a maximum amount of 30 thousand USD, you can also get to opt for a repayment plan in 120 months. With Cream Bank, on the other hand, the amount requested and the maximum repayment term are correlated. If you want a loan of 30,000 USD, you can repay it in 96 months .

The rates are conditioned by the duration because even if the tan is often left fixed while the various ancillary costs connected to the loan with the increase in the number of installments tend to grow.

Loan 30000 USD: direct or with intermediary?

Loan 30000 USD: direct or with intermediary?

Some companies provide a loan of up to $ 30,000 directly, also accessorising it with interesting functions or options to make it more flexible. Among these we find Compass, which is also one of the credit institutions to which Poste Italiane relies to provide loans through its section dedicated to financial services.

Another particular situation is found with Cream Bank which directly disburses up to double a loan of 30,000 USD, but via Hello Bank’s Hello project 1 Click raises the maximum sum up to 100,000 USD.

Best Bank also directly grants a maximum loan of $ 30,000, while passing through the banks of the Credit Agricole group increases the maximum amount obtainable. Also noteworthy is the solution proposed by Younited Credit which, as a true marketplace, puts loan applicants in contact with professional lenders, thus obtaining safe interest rates.

Loan 30000 USD Best Bank

Let’s quickly deepen the conditions proposed by the financial note regarding a loan of 30,000 USD in August 2018. The information is obtained through the online installment calculator and highlights the following conditions:

Other examples: Small loan and Best Bank

Other examples: Small loan and Best Bank

These choices are joined by those of important banking groups, such as Nice bank and Small loan. These lenders specialize their offer by offering an orientation opportunity, among the various possible alternatives, right from the initial approach.

In this especially Small loan has proved particularly din

friendly and proactive with a large Fast loan line ranging from small to Top loans, with considerably different amounts.

Noteworthy is the proposal of Fast loan Dynamic which reaches precisely 30 thousand USD to be repaid in a maximum of 84 months (Taeg maximum below 13%).

 

Loan 30000 USD: the transfer of the fifth

Loan 30000 USD: the transfer of the fifth

$ 30,000 represents a figure also contemplated for the transfer of the fifth. We remind you that this solution is accessible only for employees (public and private) as well as for the category of pensioners.

On the other hand, thanks to the guarantee represented by the paycheck or the pension, it represents in practice the only alternative for bad payers and for protesters.

Bank credit: how it works and how to calculate interest.

 

Credit in a bank

Credit in a bank

The increasing number of ancillary services associated with a current account may lead one to believe that bank credit (which in English is called Lite Bank) or “overdraft” falls into this category.  In reality, however, bank credit is in effect a line of credit that a bank “can” decide to grant to its customer.

Since the regulations that introduced “standard categories” of accounts to unravel current account holders in a jungle of costs and commissions, classifications have also been made (read Db Comfort ).  Therefore, current accounts were born that offer a low bank credit but granted to all holders. However, most banks prefer to link bank credit to paychecks.

Commissions and interests

Commissions and interests

To understand how to calculate interest, and evaluate the costs of an overdraft on a current account, first you need to understand how a bank credit works. We have already mentioned that it is a credit line.  This means that the bank makes available to the customer a sum of money that he can decide to use or not.

If the overdraft is not used, interest is not paid but there will still be the commissions applied (normally they are liquidated in the accruals every quarter) for the granting of the “credit”.  When, on the other hand, you cross over, for which part or all of the overdraft is used, then on the figures used, and for the period in which you remain in “red”, interest is applied.  Much has also been changed with regard to the terms that were currently used on the cost side, which were the commission on the credit line granted and that of maximum overdraft.

Today we are talking about the Quick Inquiry Commission or Civ (you do not pay in some cases) and the annual Credit Availability Fee (CDF).  To these must be added the costs for the calculation of interest and fees unless your current account provides for the gratuity, the communication costs and those for the recording of the current account operations.

Bank credit: but how much does it cost?

Bank credit: but how much does it cost?

There is an algorithm that allows you to manually calculate the total cost of a bank credit. If you want to make the calculation you must use the formula:

total cost K = Amount of the overdraft used x TAN (found on the information sheet and varies for each bank, x period in which the credit line is used / 365 + preliminary investigation and credit management costs for the quarter + expenses for the calculation and settlement of interest (quarter) + expenses for recording the transaction + quarterly communication expenses + (SFAX x Amount of the overdraft used).

Let’s take an example, where for simplicity we are going to consider all items of expenditure as zero. Furthermore, we assume that the amount of the credit line granted is 3000 USD but that 2000 are used, and that the period in which the credit line was used is 90 days, and the Tan is 5%. So using the formula we will have:

  • 2000 × 0.05 × 90/365 = 24.66 USD for the quarter in which the calculation and liquidation of the competences takes place.