Collateral and loans – Where to apply

When we apply for a loan at a bank, and after analyzing our creditworthiness, it turns out that it is too low to incur liability, then the bank is willing to pay us funds as long as we provide adequate security. See designfacility.net for a write-up

Timely repayment of the loan

Loans without pledges or guarantees

In such situations, the financial institution most often conditions the issuing of a positive decision on whether we can find a guarantor. It is a person who will commit that in a situation when we have problems with timely repayment of the loan, he will take on the obligation to fulfill the contract. It can be a family member, friend, etc.

The surety can also take the form of a promissory note, e.g. a blank promissory note. In this way, the bank protects its interests, and specifically reduces the risk that the money entrusted to us, due to financial problems that met us during the repayment period, will come back to it.

Of course, plus statutory interest, commission, insurance and other fees. A pledge is another form of security for the repayment of the financial liability. It is established e.g. on real estate, a car.

Loans without pledges or guarantees

Loans without pledges or guarantees

In the case of non-banking companies, no practices are used to secure the loan by pledging or obtaining a surety. At least not in those that operate in accordance with the law, or more simply they are not parabanks or pawnshops.

The inability to set collateral in the event of taking out a loan results from the fact that loan companies are not covered by the Banking Law and operate without the permission of the Polish Financial Supervision Authority. As a result, they cannot accumulate deposits or make the payment of a loan conditional on acquiring a tyrant or establishing a pledge on movable property.

An income certificate will be useful

business loan

Non-banking institutions obtain information about the client from him (the data entered in the online loan application), and then they can verify it in several ways. One of them is a statement of income or a statement of earnings (the client provides the number of earnings, and the lender confirms this information, e.g. by calling the requesting employer).

Another form of confirmation that the customer is able to repay the installment loan on time is a personal account statement. In addition, the non-banking company checks the potential borrower in the registers of economic information bureaus in terms of how it deals with the settlement of financial liabilities to banks, other financial institutions or commercial and service entities.

With the entry into force of the amendment to the Act on financial market supervision, the Banking Act and some other acts, the loan industry will also be subject to the need to exchange information about its clients with banks.

Loan trends for the first half of 2020

Saving is not easy. Everyone who wants to set aside a small sum to implement smaller or larger plans knows this. Bored Bank decided to conduct the “Generation about finances” study, according to which only 25% of respondents do not put off.

Although we try to save, it is not enough for all needs. That’s why we decide on loans. As BIK shows, we are signing contracts all the time, but has their number increased or decreased? 

Higher consumer loans

Higher consumer loans

Let’s start with what consumer loans are. These are loans granted for current needs. It can be buying a car, refurbishing an apartment or a dream vacation abroad. The method of repayment is precisely stipulated in the contract, and the collateral is the borrower’s income or the guarantee of the tyrant.

The amount of the loan depends on the creditworthiness of the particular customer, so it’s worth paying off all liabilities earlier, and we will definitely get a larger amount. What was the situation with consumer loans in the first half of 2020? According to BIK, the number of loans granted decreased, but their value increased.

This means that people were more likely to take larger sums. We’ll take a closer look at the numerical values ​​to see how it really looks. The first half is 3.5 million contracts concluded. It is 2.2% less than in the first half of 2015. However, as indicated just now, their value is higher by 1.2%.

This trend agreed with the predictions that BIK was talking about. The increase in the value of loans may be affected by the lowest unemployment in 25 years and a monthly salary of up to 2.5%. This is probably due to the payment of money from the 500+ program and is an undeniable reason for the increase in the creditworthiness of many families, which could have afforded such a loan. It is worth noting that the largest decrease in the number of loans was recorded in south-eastern Poland.

The higher number and higher value of housing loans

home loan

Housing loans, as the name suggests, are loans for the purchase of a flat or house construction. Money must, therefore, be allocated to the specific purpose that the client chooses. With a home loan, you must secure it with a mortgage. The loan period can be up to 40 years because the amount collected is large and cannot be repaid within a few months. There is always an option of early repayment, however, usually associated with additional expenditure.

It is worth asking about it before signing the contract to know what costs you will have to take into account. So what was the interest in housing loans in the first half of 2020? 4.1% more loans granted by banks and credit unions were recorded. Their value also increased by 5.8%. The main revival was observed in western Poland.

However, this situation began to weaken already in June and July, which may indicate a tightening of lending policy. The following months will show whether this weakening will persist or whether the situation will change and the number of loans granted will increase again.

Fewer credit cards

credit score

According to the BIK report, fewer credit cards were issued. The difference is up to 9% – does this mean that Poles do not want to use them? Let’s first explain how they work. Credit cards are one of the payment instruments, characterized by the so-called credit limit.

The customer using the card has a certain limit to use, which he then has to pay back. A characteristic term for credit cards is the billing cycle. At the end of the cycle, you receive a list of operations made and the amount to be paid, along with the deadline by which you must do so. Let us return to the question we just asked.

Poles still use cards, as evidenced by the increase in debt on these payment instruments, which increased by 4% compared to the previous year. Although cards were issued less, definitely higher limits are set.

How to search for good offers?

Finding good deals may not be easy for everyone. How do you find favorable offers? Of course, it’s best to follow the websites of the banking institutions we are interested in.

However, if we do not have time for this, we can take advantage of an equally good offer, which are rankings of bank offers. We will receive a list of the most attractive options along with the opinions of customers who have already used the services of individual bank branches. “Still, remember not to sign the contract blindly. Reading the documents carefully will protect us from unnecessary financial problems.

Let’s also make sure that we are able to save the required amount for the monthly installment, and then we will be able to confidently sign the contract, “comments Tymon, an expert at Jabber. Smart financial decisions are the best we can do for your budget. Otherwise, it may turn out that our finances are in a much worse condition than we thought.

 Current trends show that bank loans are a product constantly sought in the market. It is worth following the latest trends and looking at current offers so that whenever necessary, demonstrate knowledge of the industry and choose the best proposal that suits our needs.

Beware of false loans at broken rates

The bad reputation of bankers, some do not hesitate to make their honey. Example with two sites presenting themselves as credit intermediaries. It’s very simple. With them, and despite our consequent loan request (from 100,000 to 150,000 dollars over the longest possible period), no need for personal contribution or minimum income ‚! As for the documents to be produced, apart from an identity document, the RIB, a payslip and a certificate of address, they are very succinct. It is more contrasted with regard to the rates ‚: if MoneyHold Express promised us 2% over thirty years, that is 0.5 to 1 point less than the rates in force, Rapidlend Credit hit hard by posting 3% over ten years, double the market . But the advisor quickly agreed to negotiate downward.

 

Loan scams

Loan scams

Even if we did not go further, needless to say, we would never have seen the color of this silver. “The scam then consists in demanding from the borrower the payment of a sum, in settlement of various costs. The transfer made, the fraudster does not give any more news, or claims money again under cover of other reasons, such as the release of the loan or the lodging of a guarantee “, summarizes Carol Hassan, chief within the direction of the control of commercial practices at the ACPR. Maneuver attempted by Steffy Morea, our contact at MoneyHold Express ‚:“ Your file completed, I will contact the bank and you will have to reimburse me for the necessary costs. ”Even if, despite our multiple reminders, he never gave the amount… Note‚: the same techniques are used by sites dangling savings books online,

“A rate below the market often indicates a fraudulent loan” warns Carol Hassan, head of the complaints department of the ACPR’s commercial practices control department. -.

 

What the law says

loan fraud

Whoever the interlocutor is, no amount of money can be claimed before the current release of a loan. Anyone presenting themselves as a broker must obtain an IOBSP number from Orias, the register of intermediaries in banking operations. And have a fundraising mandate signed. “Before finalizing the file, a document with the duration of the credit, the monthly payment, the rate as well as a depreciation table must be communicated”, specifies Sandra Alloin, from the broker Vansleigh Financing. If it is a financial institution proposing to lend you or receive deposits on a passbook, it must be registered in the Regafi register.

0% quick loan – check it out

Agree Bank is a company with Polish capital, providing online loans in installments. It is worth noting that Agree Bank provides loans at 0%. This means that the only fee for the loan by Agree Bank is the commission of the company, which is included in the monthly installments.

Interest-free loan

Interest-free loan

What makes Agree Bank loans stand out is the low APRC. It is lower than the APRC for loans and credits granted by some banks. APRC, or Real Annual Interest Rate is information for us about the total cost of the loan. APRC is calculated on an annual basis. It depends, among others, on:

  • loan amount;
  • its distribution period, i.e. the number of installments;
  • on interest;
  • as well as other costs that may occur.

Taking an online loan in Agree Bank, we give back only the amount we borrowed and a commission, the amount of which we know before completing the application.

Low loan installments

Low loan installments

In our market, more and more non-bank companies offer loans with the option of repayment in installments. All thanks to new regulations that impose restrictions on lenders as to the possibility of extending the repayment period.

Therefore, companies that until now have only provided short-term loans are introducing installment repayment options to their offers. Therefore, it is more advantageous from the point of view of both the borrower and the loan company to spread the liability into several lower installments from which the customer will not have a problem paying off.

At Agree Bank, online loans are granted from USD 300 to USD 5,000 with the option of spreading the liability from 1 to 18 months. So we decide for ourselves in what period we want to repay the liability. Using the loan calculator, we learn the monthly installment for selected parameters, i.e. the amount and repayment period.

Thanks to this function, we can determine whether the installment amount is right for us before completing the application.

For whom a 0% loan

For whom a 0% loan

A loan with a zero interest rate in Agree Bank can be applied for by all Polish citizens aged 21 to 70 who work and can confirm it. If we pass the verification if we apply for a loan, but the company’s analyst calculates that the amount we are asking for is too high then the company will inform us and propose a different loan amount.

Agree Bank as one of the few companies on the market allows us to receive another loan, even if the previous commitment has not been fully settled. In this situation, the company takes into account the timeliness of repayment of the current loan and our creditworthiness.

The company provides two types of loans – online loans for any purpose and loans to cover online purchases.

Before you apply for an online loan, specify the amount of the monthly installment that will not be a problem for your household budget. Only on this basis adjust the loan amount and loan period. Remember to review the current installment loan rankings and compare several offers from non-bank institutions before completing your loan application.

A loan to finance the wedding of your dreams

Preparing for a wedding or a PACS is to start by assessing your budget. Because you have to give yourself the means to finance a project… which must be one of the happiest days of your life!

 A wedding loan will be the ideal option to get you out of trouble! Are you getting married and you don’t have the money to organize your wedding? Then this information will interest you. We all know that the wedding of your dreams has to be truly special and unforgettable. However, this is not free, and in fact, organizing a wedding is very, very expensive.

 

What should we finance?

financial loan

Whether the marriage or the PACS reunites only the immediate family, or on the contrary many guests, the expenses to be assessed precisely are, among others:

  • The attire of lovers: costumes, dress, lingerie, shoes, hairstyle, accessories and jewelry (including wedding rings)
  • Bouquets of flowers
  • Room rental
  • The decoration of the room, the party favors
  • The meal, the dessert (s) (cakes, mounted piece)
  • Drinks (without forgetting water)
  • The car and its possible decoration
  • Sound equipment
  • The evening host, the musicians
  • The photographer, the cameraman
  • Announcements, thank you cards
  • The place where lovers will spend the night after the party

 

What personal budget do you have?

What personal budget do you have?

To organize yourself better, with this list, take a sheet, divide it into 2 columns. For each item of expenditure, try to assess, to the nearest euro if possible, what it will cost. Take your time: find out precisely, get quotes, compare offers. The goal is to be as close as possible to what the party will actually cost. Once you’ve finished your little survey, add up. Then think about your own personal budget: what can you finance yourself? If the difference seems significant, try to cut some expenses first. For this, there is no need to necessarily delete certain positions. Sometimes it’s just a little more reasonable.

 

A financing solution: the personal loan

A financing solution: the personal loan

To supplement the necessary budget and refine your financing project, you can consider taking out a personal loan. It is a question of borrowing just the necessary amount, so that the party is successful and really corresponds to what your couple wishes. The loan is calculated at the most jute, according to several elements:

  • Personal contribution
  • The precise budget to be completed
  • The repayment capacities of future spouses or civil partners
  • The repayment tenure

The loan is free of administration fees.

Use online credit simulation tools . With a few clicks, you define the financing plan for your project. And you get a first answer in principle.

Works loan | Finance your renovation work with bank.

Works loan: do you have renovation projects?

Works loan: do you have renovation projects?

Can’t see your kitchen in paint anymore? Your bathroom dates from the 1940s? Does your plumbing need to be reviewed? Perhaps it is your electricity that you need to have revised? Has the roof of your home run out of time? Do you want to insulate your entire house? The facade of it requires some renovation work? Are you planning to have a veranda built? Would you like to buy a new boiler? Are you planning to secure your home by installing an alarm? Do you want to hire a professional? Do you plan to do it all by yourself? Whatever your construction or renovation projects, the Good Finance custom work loan solution is made for you.

Good news: the Good Finance works loan offers one of the most advantageous rates on the market ! Calculate the total amount of your loan via our credit simulator.

The advantages of the Good Finance works loan

The advantages of the Credafin works loan

  • An advantageous rate : the Good Finance works loan is one of the most advantageous on the market.
  • An amount released quickly : with Good Finance, you receive your money within 48 hours! The borrowed amount is transferred directly to your account. You just have to pay the different suppliers.
  • A repayment duration of your choice : it is you who choose the repayment duration of your work loan.
  • No booking fees : Good Finance does not charge any booking fees. Save money!
  • A fixed interest rate : the application rate on Good Finance works loans are fixed. No bad surprises.
  • No intervention by a notary : the Good Finance renovation loan does not require the intervention of a notary or mortgage registration.

Good Finance works loan terms

Credafin works loan terms

Acceptance terms

Obviously, remember that in order to take out any loan, you must be over the age of 18, receive regular income and reside in Belgium or the Grand Duchy of Luxembourg.

You must not be registered with the Cream Bank either, in order to limit any problem of over-indebtedness whatsoever.

Refund procedure

At a fixed date, you reimburse constant monthly payments through a direct debit. The first deadline falls 30 calendar days after the signing of the offer. This deadline remains in effect for the entire duration of the loan.

Works loan: renovation bonuses

Works loan: renovation bonuses

Both the federal government and the various regions offer renovation grants and subsidies. The amounts and conditions of these bonuses vary depending on whether you live in Brussels or in Wallonia.

Contrary to what many people think, this aid is not limited to investments made with the aim of saving energy. Work likely to eliminate the merule and other fungi, intended for drying the walls, the costs of replacing or repairing a rainwater tank, for example, can potentially and at least in part be taken into account. charge. Do not hesitate to inquire beforehand.

The loan guide

The loan guide

The construction loan, also called construction credit, renovation loan or renovation credit, is intended for anyone who wishes to carry out construction, renovation, development or any other type of work related to real estate.

The works loan consists of a loan granted by a specific entity – in this case the bank or financial institutions, at variable rates and with varying monthly payments depending on the circumstances of the loan. Different work credit solutions are offered on the Internet, meeting specific needs.

One credit for each project

There are as many work credits as there are types of work. Thus, it is therefore possible to take out a special renovation loan if the work relates solely to renovation, just as it is possible to opt for a loan dedicated to new construction. Each credit is different. The loan conditions are therefore likely to vary according to these.

Personal loan or earmarked loan?

Since a work credit can be allocated to specific work in a home, any loan between 5,000 and 100,000 $ is governed by the Consumer Code. Any borrower is thus obliged to inform the possible insurance costs and the APR.

He also benefits from a right of withdrawal and protection in terms of affected credit. The rates, the repayment durations and the administrative fees can however vary from one loan to another.

Online loan – a way for our purchases

July 28, 2016 Storefronts tempt their design and offer. In particular, when they appear on them with the inscription – known to every woman – “rooms”, which makes all ladies dizzy. It is the fair sex who enjoys sales most and I spend the most on them.

However, men do not differ from women and also use the products covered by the promotion. An expert from Good Finance will advise you on how to pay for purchases during the sale. 

Online loan – a way for our purchases

Online loan - a way for our purchases

At sales, we will buy not only summer clothing, which may be out of date next year but also classic and elegant outfits. This is the best time to stock up on classic suits or elegant creations. Although the promotions are large, completing the entire wardrobe can be a considerable expense.

In this situation, it is not worth wasting the opportunity and postponing shopping for later, the more that it is not only clothes that can be found during the promotion. Shops with sports and electronic products, as well as jewelry and cosmetics, are also subject to reductions.

Promotions in stores are usually twice a year, so you should be financially prepared to start them. However, if the money prepared for it was not enough to support us with an online loan. Thanks to the development of the FinTech sector, we can take the instant payday using a telephone with internet in the store. It is a quick, simple and above all safe way to borrow money. To choose the best offer, it is worth using tools such as the comparison of online loans – Good Finance

When do sales start?

When do sales start?

Promotions usually start at the end of June, and the best offers can be caught in August, as the promotion deepens. Often, many products get another discount. In the beginning, the discounts range from 20%. up to 50 percent, and then they are getting higher – they reach up to 70 percent.

The best offers, however, appear suddenly and last for a short time, so you should keep track of what is happening in stores. One way to control what is happening at your favorite outlet is to sign up for the newsletter or ask for information from sellers.

The holiday period is not only on holidays and holiday travels. It is also a time of hot sales, during which you can buy many products at an occasional price. If your shopping spree absorbs your savings, you can always support your home budget with an online loan.

Internet finance – a new era | Online loans

The Internet has become a place where we can do practically everything, including matters related to our finances. 

We use banking and loan services more and more often via the network. Research carried out in the middle of last year by Poll Survey shows that in the last 10 years the number of people using online banking has doubled. 6 out of 10 network users use bank websites.

In turn, a survey carried out last year by DGP and Assess indicates that half of the bank customers go to the branch no more than twice a year. Does this mean that we are slowly becoming convinced of modern forms of customer service?

Bank branches are a thing of the past

business loans

Bankers have noticed this trend. They are starting to consider the possibility of changing the services offered by the facilities. Over time, banking branches will be mainly focused on specialized consulting related to investment and mortgage products. Standard products such as low-value cash loans will be available mainly via the internet. We can already see changes in our market.

More and more young people, in need of additional funds, first check available options online, by browsing online forums, installment loan rankings, payday loan rankings and loan rankings. Online loans are a convenient way for us to finance needs in the absence of own funds.

Online loans as an alternative to traditional loans

Online loans as an alternative to traditional loans

Banks often force clients to visit branches to provide documents confirming the data entered e.g. in the loan application. That is why many of us who need a small amount choose banking institutions.

A short online request and quick response, even within 15 minutes, are expectations that many banks are unable to meet. The market also shows decreasing consumer confidence in the banking sector, while the increase in confidence is recorded by the non-banking market.

Free loans

Free loans

The possibility of borrowing money completely free is another argument for which many people choose non-bank institutions. Until now, only payday loans, i.e. short-term loans, were granted free of charge after about 30 days. Currently, some loan institutions have begun extending the repayment periods of free loans. At Fine Bank, we can apply for up to $ 1,500 with the option of repayment in two monthly installments.

On the other hand, Circle Lending offers a payday of 1500 dollars for two months for a symbolic 10 dollars. The new Best Loan promotion also allows you to repay your liability in two installments, all you have to do is pay half your debt within the first 30 days. In banks, even taking a short-term cash loan we have to cover fees such as commission, interest rates, and insurance.

Banks are more and more seriously looking at competition from loan companies and in the near future plan to create offers that may become competitive for the surrounding banking market. At the moment, however, banking papyrology and the increasing costs are visible obstacles in achieving this goal.