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Installment Loans

The right time for an installment loan has long been there

With the start of its “special monetary policy measures”, the Best Bank also gave the go-ahead for an unprecedented environment for favorable credit conditions in the dollar zone. The time has now come to start deferred financing. The good news: Cheap installment loans are likely to be available for quite a while. However, the planned funding should not be put on the back burner.

 

The Best Bank ushered in the era of record-low lending rates

The Best Bank ushered in the era of record-low lending rates

As a result of the measures initiated by the Best Bank to stabilize the dollar, interest rates in the dollar area fell to a historical low and the interest rate level for classic savings investments fell at the same time. But here too the saying applies: “One person’s suffering is another person’s joy”. While the savers who rely on collateral are practically dry, the borrowers benefit particularly well from the steep fall in lending rates. This applies to small loans as well as to large investments in the real estate market.

 

Low lending rates have practically stayed at home

Low lending rates have practically stayed at home

There is another benefit to borrowers. While savers literally have to go far with their capital to achieve noteworthy returns with other European countries, loans available to German customers have become very cheap even in their home environment. This also applies if the bank’s headquarters are located abroad. In addition to a call money account, the bank also offers various forms of loan. For example, the installment loan provided by Cream Bank to consumers shows an effective annual interest rate of 1.87 percent (as of January 2019). A quasi-reverse effect of shifted interest rates within the European Union (EU) has therefore not occurred for loans. This is also reflected in the loan conditions of the Cream Bank, as there are no further costs for the possible net loan amounts between 3,000 and 50,000 dollars at the currently very low interest rates.

 

The loan volume granted continues to increase

The figures on the development of lending to private individuals (2) in recent years speak for themselves. In 2004, the total amount of loans granted, according to the Federal Association of German Banks, was around 1,000 billion dollars . By 2016, the lending volume had increased to around 1,150 billion dollars . In addition, the culmination of the so-called financial crisis in 2009 and 2010 did not miss out on lending to private individuals. On the contrary. Since 2008, there has been an uninterrupted increase in lending and this is also accelerating.

The reasons for the increasing lending are obvious. On the one hand, the cost of credit literally fell, and on the other hand, wages and salaries for workers rose in the same period. The annual very low inflation rate, which has also been very low in recent years, has ensured that real income has risen accordingly.

 

The “right times” for loan financing are continuing

money loan

The right time for planned financing by means of an installment loan has already arrived. The signs indicate that the ideal framework for low borrowing costs and stable to rising incomes will continue for at least a medium-term period. The reasons for this are understandable.

While the US Federal Reserve (Fed) is raising interest rates again – albeit in tentative steps – the Governing Council holds its view that the low key interest rates will have to be cemented at least beyond summer 2019. The declining annual inflation rate is likely to further strengthen the Best Bank ‘s stance. To this end, the economists of numerous institutes agree that above all the wage workers will continue to benefit from the ongoing boom in the labor market. So ideal conditions to finally tackle the possibly delayed financing.

 

Loan interest rates: The bottom has already been reached

Loan interest rates: The bottom has already been reached

However, the strategy of waiting for further falling interest rates on loans is unlikely to work. Rather, it is true: “If you eat too late, life will punish you”. Although the key interest rate level has been at a stable low for some time, the first surcharges can already be seen in terms of credit conditions. This is partly due to the unwritten market law “supply and demand”. The accelerated increase in the award to private individuals primarily requires the corresponding demand from consumers. If their demand increases, the prices usually rise and, in the case of a loan, it is the interest.

To the detriment of consumers, the German financial regulator Bafin is planning to review the individual banks for the credit guidelines. This primarily affects lending to small and medium-sized companies, but ultimately credit institutions have to calculate the overall economy in-house. Should the bandages be put on, this could also have an adverse effect on the general loan conditions. The Cream Bank would not be immune from stricter regulations within the German credit market.

The conclusion: Since the conditions of an installment loan are tied down at the time the contract is signed, planned investments should not be put on the back burner despite the record low interest rates that are still in place. The “interest rate barometers” are pointing slightly upwards and even loan interest rates that have risen by just a few basis points are simply higher costs in the end.

Categories
Installment Loans

Installment loan for pensioners

 

Everyone has certain needs and desires for material things. Some are of course absolutely necessary (eg washing machine, car or heating) others are luxury goods (eg vacation, television or jewelry) that could theoretically be dispensed with. However, many people do not have the financial means to look for luxury goods or absolutely necessary goods. Older people in particular, ie retirees who have worked all their lives, want to fulfill one or the other wish in the last stage of life.

After all, they worked hard for it. Unfortunately, the pensions in the country are not exactly abundant, even if the savings saved are not enough, it is difficult to acquire certain things. In addition, pension security will no longer be guaranteed in the coming decades. The reason for this is the demographic change that is making people in the country grow older. This is a real dilemma that needs to be overcome. So what to do if you want to fulfill a wish in old age but there is no money?

Installment loan for pensioners as a solution to the problems

Installment loan for pensioners as a solution to the problems

There are banks that can fulfill these wishes for pensioners by offering an installment loan for pensioners. With this type of loan, monthly amounts have to be repaid by the borrower. In return, pensioners receive a predetermined amount of credit in advance. As with any loan, however, retirees also have to provide certain collateral in order for an installment loan to be approved for retirees. Many retirees now work on the side, so that they can earn a small income in addition to the pension. This is a positive prerequisite, especially if the pensioners can also show other properties such as real estate.

Admittedly, banks take a special risk with an installment loan for pensioners, since it is not certain how long the pensioners will live. Because then the monthly repayment rates could of course no longer be maintained. That means the banks would stay on the money. Therefore, the offer of an installment loan for pensioners is not very widespread among credit institutions. So far, only a few banks offer such a loan.

Possible conditions for an installment loan for pensioners

Possible conditions for an installment loan for pensioners

The maximum possible loan amounts depend on course on the collateral of the applicant. Generally, however, amounts between 3,000 and 250,000 are possible. The term is also very flexible and can be fixed between 12 and 120 months (1 – 10 years). Of course, this also depends on the age of the applicant. Accordingly, a pensioner in early retirement can apply for a longer term than an 80-year-old pensioner. The average annual interest rate is around 4.50%.

The monthly repayment rates result from the loan amount and the term. With a loan of 5,000 and a term of 5 years, this is approximately 100 per month. Most of the time, the loan can be used freely, which means it doesn’t matter whether the loan is used for a washing machine or a vacation trip. In general, it can be said that it is a very generous thing if banks provide an installment loan for pensioners. Perhaps more banks will be added in the next few years.

Bank loan: Why do companies require a earnings certificate?

Today we will tell you why loan companies require the presentation of such a document and whether you can borrow money without a salary certificate.

To get a bank loan or credit, in most cases you will need to provide the lender with a salary certificate.

loan credit

A statement of earnings may be necessary when taking a loan in bank, but also when taking a non-bank installment loan.

Why an earnings certificate?

credit loan

Installment loans and credits are financial products that I usually pay back for over a dozen or even several dozen months.

When granting a loan, the lender must be sure that our financial standing allows us to repay the obligation on time.

Based on your earnings and monthly financial commitments, you’ll be able to accurately assess this.

The higher the amount of monthly receipts, the more money we can borrow.

Security for the lender

The document from the employer will therefore allow the bank (or loan company) to properly secure its interests and minimize the likelihood of late repayment or total inability to return the loan.

Certificate and statement about the amount of earnings

If you plan to take a quick non-bank loan (payday payday loan), the lender will not require you to provide an income certificate. This situation may also be encountered in some banks or by taking a non-bank installment loan.

Instead of an income statement, all you need is your statement and declaration of the amount of income you receive.

However, remember that by borrowing money for the statement you will be able to receive no more than several thousand zlotys.

To borrow a higher amount you will need a certificate from your workplace.

Loan without income certificates

Loan without income certificates

If you do not want to (or cannot) provide the lender with an income certificate, you can get a loan without a certificate. Such loans, offered by non-bank financial institutions, are a great way to finance unplanned expenses that you can’t wait for.

If you have never used the services of a loan company before, you will be able to borrow up to USD 3,000.

All you need to get a loan is a computer with internet access, ID card, account number and mobile phone number.

You will take all the necessary steps online, and you will be able to receive additional money even within 15 minutes of the lender’s positive decision.

Bank Loans and Calculation

Good Finance Bank offers its customers and consumers individual loans with different interest rates and convenient interest rates. With these easy and fast loans, Good Finance Bank finds solutions to the urgent cash needs of all its customers.

Loan interest rates vary depending on the type of loan

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Good Finance Bank generally provides all loan terms as 60 months. Loan interest rates vary depending on the type of loan. It offers the option of paying your loan installments in seven different ways.

We collected all personal loans of Good Finance Bank and consumer loans under the name of the campaign under a single topic.

Good Finance Bank Credit Payment Options;

  1. With monthly installments
  2. Ascending installment
  3. With decreasing installment
  4. 3 months deferred monthly equal installments
  5. Equal installment every 3 months
  6. Balloon payment in the last installment
  7. Variable installment

Good Finance Bank Consumer Loan Types;

  • Necessity Loan with Installments
  • Mortgage Requirement Installment Loan
  • Requirement Loan with Installments for Car Pawn
  • Individual Workplace Loan
  • Requirement Loan for Land Mortgage Reserve

Good Finance Bank Credit Campaigns;

  • Personal finance credit
  • Good Finance Bank Instant Loan
  • Good Finance Bank Installment Loan

Let us help you find the most suitable loan and most suitable campaign with the Good Finance Bank consumer loan types and loan campaigns listed above.

Good Finance Bank Necessity Loan 2019

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Necessity Loan with Installments

It is an individual loan offered for almost all your cash needs (marriage, education, white goods, furniture, etc.) in installment loan. You can get the credit term option as 3 months and 60 months.

The interest rate is calculated as 1.69%. As a payment option, you can choose the most suitable payment for you with equal installments or variable installments every 3 months. Life insurance is provided to those who want to get credit. The loan is given against collateral.

When applying for a loan with installment needs, the required forms and documents (may be a identity card or driver’s license) may request a guarantee and additional documents according to the type of loan. In the table below, Good Finance Bank 50.000 TL installment loan has been calculated for you.

Mortgage Requirement Installment Loan

Mortgage Requirement Installment Loan

You can find a solution to your urgent cash needs by getting your mortgage loan in return for mortgage, or the real estate belonging to the relatives of the first creek. The upper limit of the loan is limited to 80% of the house you mortgage. You can choose the number of terms between 3 months and 60 months.

The interest rate is calculated from 0.98%. You can pay equal installments or variable installments every 3 months. Life insurance is provided to the loaned person. Housing package insurance is provided for the mortgaged real estate. Insurance is renewed every year.

Banks that give credit cards to housewives 2019

Credit cards that housewives can buy are cards issued at low limits to meet the needs of women who do not work by banks and do not have an income certificate.

A certificate of income is not required when applying for credit cards, which are usually between 500 USD and 2000 USD. Banks that give housewives credit cards ;

Credit Card Application to Housewives

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GFI Credit Card Application and Features for Housewives

With GFI She Credit Card exclusively for women, you can divide your spending over 200 USD into 3 free installments.

The opportunity to earn an extra 5% bonus on your clothing and cosmetics purchases is also offered at Good Finance exclusively for women. You can also divide your health, skincare and hairdressing expenses by 3. For GFI She card application;

  • Enter the official website of GFI bank.
  • Select “Cards”, then “Credit Cards” from the main menu and “GFI She Card” from the side menu on the page that opens.
  • Click on the “Apply Now” button.
  • You can complete the application by filling out the 4-page form that comes up.

You can also make your application on the way to GFI branches.

My Lady Good Finance Budget is My Card

Ladies who think of their budget can apply for the application of Good Finance Credit Card from Good Finance by phone, message, branch or online.

You can easily check your spending with your Budget My Credit Card and set your monthly limit yourself. You can also invest and save money by placing a Gold account investment order on your credit card.

You can shop for free with bonuses by earning a bonus with Good Finance Kart, which you can use anywhere in the world. Good Finance Budget My Card application;

Honest Bank 

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Honest Bank credit card is one of the cards that housewives and non-employed can easily get and there is no annual fee. You can apply for a credit card at the branches, via the Internet or by SMS. You can write BANKO blank TC ID Number and send SMS to 8444. A low limit credit card will be sent initially.

However, you can increase your limit by making regular payments in the future. To increase the limit, you can apply from online banking or telephone banking.

You can use your Honest Bank Card credit card for your domestic or international expenses without paying an annual fee.

Across Lender Undocumented Credit Card Application

Since Across Lender credit card can be obtained by making an application without documents, it can be easily taken as a credit card for housewives, even though it is not a special card for women.

By applying easily and quickly, you can get your card delivered to your address without having to go to the branch. You can earn chip-money and benefit from discounts at Across Lender member merchants.

You can easily apply by filling out the form on the Across Lender official website.

Requirements for Housewives’ Credit Card Applications

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Although housewives card application requirements are determined as the only applications made by the banks mentioned above, in some cases, documents may be requested.

If you are a housewife, you can try to get a credit card by applying to banks other than the ones mentioned above. Your requirements for credit card applications for housewives may be;

  • The guarantor can be requested. A guarantee can be requested from people who do not have an income certificate when issuing a credit card. The guarantor must have proof of income and a high credit rating.
  • You can get a credit card with a mortgage. In this way, you may be asked for goods such as land, land, and home.
  • Showing additional income may make it easier to get a credit card. If you have earnings like rent, you can show it as an additional income.

Loan for those in debt – check if it is possible

Are you in debt The creditor entered your data in the register of debtors? Or maybe due to wrong decisions, your credit history at BIK leaves a lot to be desired? If your bank has refused you a loan because of this, don’t wring your hands. By using a non-bank lender you can still get a loan. Even being in debt.

Borrowing money by a person in debt will definitely not be easy. Fortunately, it won’t be impossible either.

Bank loan for those in debt

debt loan

When applying for a loan in a bank, you must take into account that the lender will thoroughly review the amount and stability of your income, amounts of current financial obligations, credit history at the Credit Information Bureau and status at the Economic Information Bureaus.

Unfortunately, any scratches on your image will result in a negative decision. If you are indebted, have low BIK scores or your data is in the register of debtors, it will not be possible to get a bank loan.

However, an alternative to a bank loan may be to get a loan from a non-bank institution.

A non-bank loan for those in debt

A non-bank loan for those in debt

Contrary to popular belief, obtaining a non-bank loan by an indebted person will not be a proverbial piece of cake. Many lenders, like banks, verify the resources of BIK and BIGs, checking the credibility of a potential customer. So, the key to success is to find the institution that does not look into the “sensitive” base in the process of verifying its repayment ability.

Short-term payday without BIK

Short-term payday without BIK

Verifying your creditworthiness, banks and most loan companies look into the registers of the Credit Information Bureau. Low scoring in BIK can effectively cross your chances of receiving additional funds.

If you are also struggling with a negative credit history, submit an application to one of the institutions listed below:

  • Halopo┼╝yczka
  • Ferratum
  • Wandoo
  • Cheap Credit
  • Cash register maker
  • Ofin
  • Chwilówkomat

Quick Loan without BIG

An unfavorable credit history is not the only problem for indebted customers.

An obstacle to receiving money may also be entries in the databases of Economic Information Bureaus, colloquially called “registers of debtors”. If your data is in the National Debt Register, the loan will be given to you by Advance (formerly Cash) or Fenio. 

Loan with a bailiff

If your account was taken by a bailiff, it will be even more difficult to get a loan. However, there is a company on the market that will lend you money even with bailiffs.

Before you reach for a loan for those in debt

Remember that an ill-considered, impulse decision can significantly worsen your financial situation. So before you sign the loan agreement, make sure you can pay the debt back on time.

Even small repayment delays can expose you to costly and stressful consequences in the form of default interest, debt collection procedures and even court and enforcement proceedings.

Real estate loan: how to react to a request for direct debit of salary?

Are you about to sign a mortgage and your banker asks you to open a bank account to house all your income? Focus on your rights. When you sign a mortgage, in the mouth of the banker, the question of the bank account is obvious: you must open an account, transfer the regular debits, and domiciliate income, starting with salary.

Do you have the choice, or rather can you refuse this forced bank mobility? The legislator tried to put an order in these practices, via an ordinance published in June 2017. Before making reverse through the law Pacte, entered into force at the end of May 2019 What about today?

What does your banker have to say?

What does your banker have to say?

The attempt to supervise, aborted, had a consequence: the direct debit of the bank must be integrated into the commercial negotiation, to use the commentary on the internal amendment thanks to the Pacte law. In theory, the fact of domiciling your income in the lending bank is a negotiating element, to lower the credit rate, in the same way as borrower insurance, home insurance, the transfer of savings, the level of charges on the current account or even the subscription of shares in mutual benefit networks.

In fact, all the major banking networks make direct debit an essential element of real estate lending: in the vast majority of cases, if it is a question of financing the r main residence, the bank can accept concessions on the other elements of negotiation, but not on the domiciliation, or in a very exceptional way. Banks have the choice of their customers!

During the negotiation phase of the rate and the credit conditions, verbally, bracing yourself on the domiciliation of income may be counterproductive, detrimental to your financing conditions.

Can the bank impose a clause in the contract?

Can the bank impose a clause in the contract?

Contrary to the message peddled during the vote on the amendment of the deputies Dubost and Lescure, the Pacte law did not prohibit the domiciliation clauses! It only repealed the supervision measures in force since 2018. Result: the clause is neither prohibited nor authorized, it is a return to the previous situation: the vagueness. As confirmed by Mr. Feron-Poloni, it is now the recommendation of the Unfair Terms Commission dating from 2004 – which is authoritative. However, this commission deems it to be unbalanced with any clause of a loan offer obliging the borrower to domiciliate his income if this obligation is accompanied by no individual counterpart.

Translation? Any fuzzy clause is abusive! Good Finance goes further: A direct debit clause cannot be included in a framework contract, systematically, for all borrowers. As long as the rate grids are kept secret, the banks cannot demonstrate the reality of the counterparty.

Clearly, a bank can include a contractual clause on direct debit , but not in a generalized manner, and by clarifying clearly what is the advantage individualis. In this case, all costs related to direct debit (current account package or account maintenance costs, etc.) must be included in the calculation of the annual effective annual rate (1) .

Do you have to respect this direct debit?

Do you have to respect this direct debit?

To sum up, a borrower can hardly refuse the domiciliation of wages to his banker, during the negotiation phase, but this agreement is almost never included in the loan offer! In other words, nothing obliges you to respect this informal commitment over time.

If you ever want to change bank, for your main account, nothing prevents you (except in the rare cases of contracts incorporating a clause with a real individual counterpart). On the other hand, it will probably be necessary to keep an account in the lending bank, to be fed regularly, for the collection of loan payments.

New Lender Housing Loan Calculation Interest Rates

New Lender bank, like every bank, generally provides 80% credit for the house planned to be purchased between 1 Year (12 months) and 10 Years (120 months).

Interest-free housing loan installments

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The New Lender bank implements a sound banking activity with the slogan “sound banking”. Apart from New Lender interest-free housing loan installments, there are extra expenses that we need to pay.

  • Residence insurance
  • Life insurance
  • Mortgage Fee
  • Appraisal Fee

The sum of the extra costs mentioned above is approximately 1300 USD.

New Lender housing loan conditions ;

  • We must be 18 years old.
  • Our proper payment of the loans we have received before.
  • Documenting our income.
  • If you are married, your spouse must have consent.
  • It must pass as a residential dwelling registered in the land registry.
  • The housing certificate must be obtained.

If we fulfill the above New Lender mortgage loan conditions, we can apply for a loan to the bank.

New Lender interest-free housing loan application documents;

  • Birth certificate
  • Invoice or residence document
  • Deed copy of the house we will buy
  • Our income certificate

New Lender Housing Loan Interest Rates?

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New Lender bank does not offer excess interest rates like other participation and public banks. The borrower applies two types of interest to the borrower. It shows itself among other banks with its interest-free housing loan rates.

The interest rates given by the “sound banking” model are one step ahead of other banks with the payment plans it implements or presents. Generally, the amount we will withdraw at the New Lender bank is not important.

New Lender interest-free mortgage loan rates are as follows: 1 year (12 months) and 5 years (60 months) with a maturity loan calculation of 1.12%. Housing loan calculations are made for 6 years (72 months) and 10 years (120 months) with a rate of 1.14%.

New Lender Housing Loan Calculation Table?

New Lender Housing Loan Calculation Table?

We will try to give you examples below with the interest rates of the Kuveyt Turk minister we have given you above. In the table we give below, we will also share the expenses such as appraisal fee, mortgage fee received by New Lender bank.

5 years (60 months) 12 times 10 = 120
Home Loan Calculation with 1.12% Interest Rate Home Loan Calculation with 1.14% Interest Rate
Loan Amount 100,000 USD Loan Amount 100,000 USD
Profit Rate 1.12% Profit Rate 01.14%
Allocation Fee 500 USD Allocation Fee 500 USD
Mortgage Fee 225 TRY Mortgage Fee 225 TRY
Appraisal Fee 915 USD Appraisal Fee 915 USD
Monthly Installment 2.73 USD Monthly Installment 1.534 USD
Total amount 1 USD Total amount 184.017 USD

We recommend you to read our previous article titled How to Get Interestless Housing Loan. You can browse the topics that may be of interest in our New Lender category.

How to Get Interest-Free Housing Loans

When we look, many banks give loans. Some banks offer retirement interest-free housing loans.

These banks generally give 10 to 15 times the pension. Banks, which offer retirement interest-free housing loans, also set the retirement age limit.

Take an interest-free housing loan with a term of 5 years 

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The highest age level is based on 80. To give an example, a 75-year-old pensioner can take an interest-free housing loan with a term of 5 years (60 months). We have listed below the participation banks that provide retirement interest-free housing loans.

The calculation made in the table above may vary according to the current loan interest rates. There are some expense items while retirees take home loans.

    • The cost of 5 files per thousand is deducted from the loan amount.
    • Life insurance. Personal accident insurance.
    • In the case of a mortgage loan, mortgage and appraisal expenses are incurred.

Banks That Offer Interest-Free Housing Loans?

Banks That Offer Interest-Free Housing Loans?

Banks that offer interest-free housing loans are considered as Islamic banks or interest-free banks worldwide. Turkey ranks as the participation of banks in general. Interest-free loan calculation works with the principle of being a shareholder of the bank’s profit and loss.

Banks receive funds from their own customers and give them new loans in the real sector as loans, and distribute the collected profit to their own customers. Another institution that gives interest-free housing loans is GFIC.

GFIC gave the interest-free housing loan to the families of the police officers who died in 1985 for the first time. GFIC does not remain with this. On 21 September 1991, it was the institution that issued an interest-free housing loan to disabled people, relatives of martyrs,

Cyprus veterans, widows, and orphans, as well as commander veterans, with the official newspaper announcement, numbered 20998. It was repealed in 2014 with the regulation numbered 28912.

Interest-free housing loans will be applied according to the old regulation

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Those who previously used interest-free housing loans will be applied according to the old regulation. Participation banks that offer interest-free housing loans are listed below.

It is possible to take out loans with suitable interest rates and long terms by making use of Housing support loan campaigns announced by these banks from time to time.

When applying to banks, you should take the documents you need to take with you and carry the necessary conditions. Then your loan application will enter the evaluation process.

We recommend you to read our previous article, What Happens If I Do Not Pay My Loan Debt. You can browse the topics that may be of interest in our Consumer Loans category.