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Payday Loans

The best Payday Loans of March

Getting access to a good Payday Loan that offers up to $ 50,000 to start pending projects today is possible. From Private Lenders, and based on the Lite Lender comparator, we want to offer our readers a tour of the best Payday Loans in March. Let’s start.

Ranking of the best Payday Loans of March

Fine Bank Credits

Fine Bank Credits

One of the loans with the best valuation on the market by its clients. The Creditea Fine Bank offers the option to its clients to obtain up to $ 3,000 in just 15 minutes. No need to change banks and to use capital in any type of operation.

This loan lacks opening, prepayment or study fees. However, it offers certain additional services for a fee:

  • For $ 5 more you can change the payment date
  • For $ 20 more you can access a “month of respite”
  • You can increase the value of the loan without any added expense

The minimum amount is $ 250 and the maximum is $ 3,000 to be returned within a period of 2 to 24 months. The minimum monthly interest rate is 4.16%.

This loan is open to new and old clients but does not accept Asnef users. To be able to request it, it is enough to be of legal age and have a monthly income that allows you to repay the loan.

Spin Lender Payday Loan

Spin Lender Payday Loan

With the Spin Lender Payday Loan you can obtain up to $ 30,000 and have an 8-year term to repay the amount. From 7% TIN and without amortization expenses, it is one of the best Payday Loans on the market. It is not necessary to change banks to request it and it does not include linked products.

You can use the capital for whatever you want and it lacks study and opening commissions. The minimum amount of this loan amounts to $ 3,000 and the maximum to $ 30,000. You can return it within 12 months or 8 years. If the requested amount is less than $ 10,000, you will have a maximum of 48 months to return it.

This loan is aimed at both clients and users outside Spin Lender.

Cream bank Payday Loan

Cream bank Payday Loan

The Cream bank Payday Loan allows its users to obtain up to $ 50,000 in just 48 hours. It lacks commissions and it is not necessary to change banks. From 5.95% TIN this loan has become one of the best options within Payday Loans. However, it does not allow loans to clients that appear in Asnef’s records or other delinquent files.

Although the loan can be used for any purpose, it is necessary to present proof of the project. The TIN and APR of this loan is variable depending on the purpose for which the capital will be used.

  • To buy or fix a car and for home renovations: TIN between 5.95% and 12.99%; APR between 6.12% and 13.79%.
  • For the rest of projects: TIN between 6.95% and 13.99% and APR between 7.18% and 14.92%.

It lacks study and opening commissions and is hired through the internet. The minimum amount to request is $ 3,000 and the maximum $ 50,000. The return period ranges from 3 months to 8 years. However, the return period varies depending on the amount requested.

  • For loans of less than $ 6,000, the maximum repayment period is 48 months.
  • For loans of less than $ 10,000, the maximum repayment period is 60 months.
  • For loans over $ 10,000 the maximum term is 96 months.

Decreasing monthly loan payments: the solutions | Humbert Humbert

A borrower has the possibility of reducing the monthly payments of his credits, the grouping of loans is a banking operation allowing a reduction which can extend up to 60% of the amount of the current monthly payments.

Credit: decrease my monthly payments

Credit: decrease my monthly payments

The accumulation of credits can become a constraint for the finances of a household. The monthly payments are piling up, the debits on different dates from the due dates as well as the high debt ratio limit the budgetary capacities of the household.

The grouping of loans is an operation whose main goal is to reduce the amount of monthly payments of a mortgage or a consumer loan, we can group all types of loans together and the reduction can extend up to 60 % of the current amount of monthly payments.

Redemption of credit to reduce monthly payments

Redemption of credit to reduce monthly payments

In operation, the specialized organization offers the borrower to buy back his credits, in this case he repays the old lenders and proposes to the borrower a new contract. This new contract will take over the remaining amount to be reimbursed for credits, the costs linked to the operation and any amount for a new project.

In the end, the amount is spread over a longer repayment period, which reduces the amount of the new monthly payment which becomes for the single hit. The rate is also unique, it varies according to the nature of the grouping of loans which can be real estate or consumption.

Estimate funding

Like all credit operations, the grouping of loans is subject to a feasibility study and acceptance by the credit institutions. For this, the borrower simply needs to turn to one of these specialists, the organization takes care of everything. He will send the repayment to each lender and will take care of closing all the credits. He will assemble the file and send the borrower a loan offer to sign.

To start the process, the first step is the simulation of loan buy-back, it is free and without obligation. Just fill in and validate the form.

Redeem a social accession loan (PAS)

The social accession loan has the advantage of being based on a particularly low rate, which is advantageous for households who cannot necessarily afford to own property. Simply, the vagaries of life can cause a financial imbalance that the repurchase of credit can restore.

Credit consolidation involves redeeming several debts and obtaining a new credit with a longer duration and a lower monthly payment. The PAS loan can be the subject of a credit buyout simply the proposed rate being often advantageous, this requires a thorough study.

It is possible to exclude the PAS loan from the repurchase of credits in order to preserve the advantage provided by the low rate but in certain cases, no solution is possible without having the PAS credit taken over .

Funding simulation

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The best solution to find out if buying back credit is possible with or without repossessing the PAS loan is to carry out an online simulation. It’s completely free and without obligation. This will precisely define the amount of the future monthly payment and the total cost of the new loan.

Two fundamental elements to compare a situation before and after financing. For the simulation, you can go to the credit buyback request page .

Social loans in Poland – are they a good alternative to cash loans and online loans?

Borrowing money is a difficult topic. Where do we most often borrow? Mainly from banks and non-bank companies, as well as from family or close friends.

However, the trend of borrowing money from strangers within the sphere of social lending is slowly developing in Poland. It includes social loans. What are they and is it worth using them?

What are social loans?

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Social loans are an alternative to payday loans granted by non-bank loan companies as well as for cash loans in banks and cooperative savings and credit unions. It should be said that a social loan is neither a cash loan nor a loan granted by a company as part of a business activity.

What is it then? A social loan, in other words, a social loan or social lending, consists in concluding a loan agreement directly between natural persons. This is a loan in the form of a civil law agreement, the subject of which is a specific amount of money granted by a natural person to another natural person.

One of the parties (the lender) undertakes to make available to the other party (the borrower) a certain amount of financial resources on specific principles regarding the interest rate on the loan and the date of its return.

What is the difference between a loan and a social loan? Social loans are the main element of the social lending sphere. They are not subject to any supervision by external institutions, they are not subject to the provisions of the Banking Law or recommendations of the Good Finance Investment Corporation, as in the case of banks.

Online social loans – where to look for social loan offers?

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The easiest way to get a social loan is on the website created for this purpose. There are social lending platforms on which online social loans are provided.

Warning!

The websites indicated on which you can find offers for social loans are not lenders. The loan is granted by a natural person to a natural person, while the social lending platform performs only the function of an intermediary who associates two parties to a civil law contract.

An online community loan will be available on lender and borrower platforms after the two sides agree on the loan terms.

The mentioned social lending platform is Good Finance, which is intended only for investors. Loans are granted by non-bank companies that give their shares to private investors.

How do social loans work?

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When we want to take out a social loan, we really need to sign (enter into) a contract between private individuals. There is no brokerage on the part of banks and non-bank institutions or financial supervision, although there is an intermediary in the form of a social loan platform that associates the parties to the transaction.

It connects people who need to borrow additional funds with people who are ready to grant such a social loan on certain terms. Social lending services facilitate the conclusion of such transactions using appropriate tools.

These tools also help to recover money if the borrower refuses to pay back the interest and refunds.

Rules governing the provision of social loans

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The legal basis for granting social loans are the provisions of the Civil Code regarding loans as such. In the code, loans are devoted to section XIX, from art. 720 to 724.

What are the conditions and requirements for getting a social loan?

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The condition for receiving a social loan is to find a bidder on the loan platform who decides to grant the loan on the terms indicated by the client. Usually, the requirement is to register the borrower on the selected portal and verify his identity.

There is no need to undergo painstaking verification of creditworthiness and creditworthiness, as is the case in banks and in an increasing number of loan companies.

Verification of people applying for a social loan

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A very important step in applying for a community loan is to verify the identity of the potential borrower. It aims to confirm that the person entered in the loan application is actually who they claim to be.

In the case of social loans, verification is carried out by means of a verification transfer or services such as Good Finance.

In many cases, voluntary verification is possible to increase the customer’s creditworthiness. It may consist of:

  • confirming the address by attaching a utility bill,
  • consenting to check data in economic information bureaus,
  • providing a certificate on the amount of remuneration and employment.

Consumer loans – can I get it from the bank?

 

Almost all banks have consumer loans. However, the maturity offered and the interest rate applied for this consumer loan are different from each other.

What are the opportunities provided by consumer loan?

What are the opportunities provided by consumer loan?

The advantage offered for general purpose loans is the opportunity to postpone it for 3 months. This loan, which has a 60-month maturity option, can be drawn up to 50 thousand dollars. The bank applies 1.59% interest rate for consumer loan. This rate is well below the interest rate of many other banks. It is possible to benefit from the opportunity to postpone the loan for 3 months while the installments are made. In order to apply for credit easily, it is necessary to send an SMS to the ID number.

How can I apply for consumer loan?

How can I apply for consumer loan?

Among the methods of applying for general purpose loan is to go to the nearest bank branch. However, there are different methods that people who say that I do not want to wait in the bank branch can apply. Bank also accepts applications from ATMs for consumer loan. In addition, Bank offers a solution for those who want to apply for a loan without leaving home. Bank, who has an interest rate of 1.80% from where they live, can apply to one of the following methods:

  • Internet branch,
  • Mobile,
  • Web site,
  • Call center.

Which Documents Does Bank Request for Requirement Loan?

Which Documents Does Bank Request for Requirement Loan?

Among the documents requested by the bank for the application for consumer loan , there is an identity card. In addition, the application document and the income document must be submitted to the bank in order to obtain the general purpose loan. Bank also offers special opportunities for people who receive their salaries from their own branches. People who receive their salary from the bank can withdraw up to 75 thousand dollars with a 60-month maturity loan with an interest rate of 1.85%. Bank offers the following opportunities for loan installment payments:

  • With monthly installments,
  • With increasing installment,
  • With decreasing installment,
  • Equal installments every 3 months,
  • Free payment.

You can use the loan calculator to list the banks that provide the most appropriate general purpose loan. During this listing, you will be able to see the most suitable installment, the most suitable interest rate and the most suitable loan.

Banks That Provide Land Loans

Credit facilities for purchasing land are a service offered to customers who want to invest by banks. Banks may have different conditions for their own land loans, but generally, loans that can be matured up to 120 months are available to customers.

Today, many banks give land loans and wait for their customers to be understood about the conditions.

Land Loan Offer Offered by Good Finance

Land Loan Offer Offered by Good Finance

Good Finance land loan is a relatively low-interest loan package that takes care of the needs of its customers. There are some conditions in Good Finance’s land loan offers. To mention these conditions:

  • The loan to be taken can be termed for a maximum of 60 months.
  • The person who wants to apply for a land loan can apply for a land loan up to half of the land he wants to buy.
  • In order to obtain a loan, the plot applied for must be zoned and included within the boundaries of any municipality.
  • Good Finance has the right to mortgage the lands where the loan application is made for purchase until the loan payment is completed.
  • In case of need, Good Finance reserves the right to demand additional collateral in the loan application.
  • Good Finance requests that the customer take life insurance during the repayment period of the loan if it gives land credit to its customer. This ensures that the bank protects itself against misfortunes that may occur.

Honest Bank Land Loan Offers

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Honest Bank land loan is a type of loan offered by Honest Bank to the customers who want to own a land for investment or other reasons.

There are some conditions that must be known before applying for land loan to Honest Bank. These conditions are:

  • Honest Bank only gives the land loan in USD.
  • Honest Bank land loan is a non-commercial loan service offered to individual users.
  • Honest Bank land loan can be extended up to 120 months and can be repaid.
  • If the plot on which the loan will be used is zoned, this plot will be put under mortgage until the loan payment has ended by Honest Bank. In cases where the land is not zoned, the person who will apply for a land loan must show another guarantee to Honest Bank.
  • Honest Bank has determined that the loan application that can be made for the plot to be purchased is not more than 50% of the plot.

Thrift Bank Housing Loan Offer

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The loan is at the service of retail customers who want to buy land and need credit for it. Many other banks such as Bank of Thrift Bank loan in the amount of land that can be referenced, have determined not to exceed half of the amount planned for land purchase.

Turkey customers to be fully informed about their nearest Cole Bank loans to have detailed information about the plot and conditions Turkey would be enough to visit the Cole Bank branch.

Other Banks That Provide Land Loans

Across lender land loan and GFI land loan can be counted among other major banks that people who need a loan can apply to buy land.

It offers Across lender’s 50,000 USD land loan offer up to 60 months to its customers. Across lender’s land loan interest rate is 1.59%. Like almost all of the other banks, Across lender requests that a guarantee be shown in order to apply for a land loan.

In order to apply for a Across lender land loan and have more detailed information, it will be sufficient to visit any Across lender Branch and meet with the customer representative.

In addition, GFI provides its customers with land loan offers, where they can mortgage their home and have up to 60% of their homes.

GFI land loan can be matured up to 60 months and the interest rate of the land loan remains constant throughout the process. The closest GFI branch can be visited in order to apply for a GFI land loan and find answers to the questions about the land loan.

How to properly make a free loan to a family member.

How to make a loan to a relative correctly for the Treasury

How to make a loan to a relative correctly for the Treasury

If you are thinking of borrowing money from a close friend or family member, you should bear in mind that the Treasury also controls this type of operations. The reason is that the administration wants to avoid covert donations at all costs. If the operation is carried out correctly you will not have any problem, since formalizing a loan between individuals – for example, from parents to children – is a very easy way to leave money to a person without taking fiscal pressure.

Step One: Sign a Contract

Step One: Sign a Contract

It is very important to sign a contract and write down the operation that we are going to carry out. In this way we will be protected against the Treasury in the event that they ask us about the origin of the loan. It is not necessary to publicly write the contract, so we can save notary fees.

In any case, we do recommend that you register it and that the Administration seal it. If we are not sure about how to write the contract we can go to a specialized lawyer to take care of it. If we are going to do it ourselves we must pay attention and write down all the information that is relevant to the operation. Although it is obvious, we must not forget to write down the personal details of the lender and borrower, the amount, the term, the date, etc.

Second: Free or almost

Second: Free or almost

Typically, when a private loan agreement is concluded between relatives or acquaintances, it is signed for free, that is, without interest or benefit from the lender. However, it is very important to state explicitly in the contract that the loan is free, otherwise, and in the absence of such information, the Treasury may assume that the loan is constituted with an interest equal to the legal price of money, -currently in 3 %. This characteristic is specified in article 40 of the Personal Income Tax Law. Likewise, if we choose to sign the loan subject to interest, this must also be written in the contract.

Advantages: Exempt from taxation

Advantages: Exempt from taxation

Non-profit loans between individuals and provided that they are made between natural persons (not companies), are subject to personal income tax but at the same time exempt from taxation. This basically means that these types of loans must pay the expenses of patrimonial transmissions – they must appear and be reflected in your personal income tax – but you do not have to pay any amount since these types of operations are exempt from taxation.

To carry out this operation, the borrower (the person who leaves the money) must pay the tax at the corresponding tax settlement office and the self-assessment will be done on form 600. It is mandatory to present the original contract, whether it is a private document as if notarial deeds have been written for your signature.

Calculation of borrowing capacity to obtain a loan repurchase

For any loan repurchase request, the borrower must know his borrowing capacity; this corresponds to the maximum loan amount that you can obtain over a certain period. The amount of his income and the amounts of his monthly loan payments, as well as these charges such as rent, determines the financial situation. 

It is from this financial situation that we can determine borrowing capacity. Expenses such as gas, electricity and the telephone are not taken into account in the calculation of debt. We will explain how you can get a loan buy-back while respecting your borrowing capacity and how to calculate it.

What is borrowing capacity for?

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This term is mainly used for borrowers who wish to access the property and therefore make a home loan. But it is also valid for all new projects. You want a car for your trips to work, but does your daily budget allow you to borrow? Do you have to pay rent or a mortgage? Do you have dependent credits? So many questions to ask yourself to find out what your borrowing capacity is.

You already have credits and your borrowing capacity is too high for the real estate project you are looking for. You have to review the repayment period and the amount of your monthly payments to find out the repayment capacity you can have.

Borrowing capacity is the maximum amount of credit that a borrower can borrow from his bank or a broker to finance a real estate project or a new project or a repurchase of credit.

How to determine and calculate your borrowing capacity to buy back credits

  • Borrowers must calculate their income in a reasonable manner.
  • Calculate all of your expenses.

Through this example we will explain how to determine your borrowing capacity:

Determine revenues:

Michel and Laetitia are both 35 years old, they have 2 dependent young children. Michel is an employee in the private sector, he has a net income of $ 1,800 per month and he receives the 13th month. He also received exceptional bonuses for a total amount of $ 3,000 over this year and last year he did not receive any premiums so his premiums will not be used in the calculation of future income.

However, you have to add your thirteenth month to your monthly income, so $ 1,800 * 13 = $ 23,400 / 12 = $ 1,950. The amount retained for Michel’s total income is, therefore, $ 1,950 per month. Laetitia co-borrower is a civil servant, she receives $ 1,750. The family allowance pays them $ 131.50 per month.

Taking into account that the children are young one will take into account his income. The total amount received for all of their income is $ 1,950 + $ 1,750 + $ 131.50 = $ 3,831.50 . Borrowing capacity is determined from the total income.

Calculate your credit charges or rent:

Michel and Laetitia are tenants and they have a rent of 800 $ per month. But they have a car loan on which they pay back $ 370 per month. They also have and a personal loan they took to get married last year and the monthly payment is $ 450, they have 6 years to repay.

The total of all their loan charges represents $ 800 to which the rent is added, giving a total charge of $ 1,620 per month. They have a debt ratio of 42.28% (the calculation of the debt ratio is the total amount of expenses divided by the total amount of income, ie 1620 / 3831.50 = 0.42 * 100 = 42.28%).

They have a real estate project of 210,000 $ but their borrowing capacity does not allow them to acquire their property.

The debt ratio is too high; it exceeds 33% of the debt to be eligible for a mortgage. Suddenly, the borrowing capacity is lower than the repayment of their rent which means that if they want to buy with their current loans, the new monthly payment of the mortgage should not exceed one-third of their income (calculation 3831/3 = $ 1,277 – $ 800 =) $ 477. This repayment amount with a 1.5% rate allows them to borrow $ 119,500 over 25 years.

How to increase borrowing capacity?

Borrowers find themselves in an impasse, their financial situation does not allow them to buy the property they covet. The solution to reducing the monthly payments of current credits is to redeem these credits over a longer period in order to reduce the monthly payments and consolidate them into a single loan.

Let’s take our example again: Michel and Laetitia have a total amount of outstanding capital of $ 30,000. If we make a simulation of credit repurchase over 10 years with a rate at 3% this brings the new monthly payment to 310 $ including fees (the new monthly payment is calculated excluding insurance). The new monthly payment of $ 310 against $ 820 before gives a latitude of $ 510.

In this problem and this is the case for many borrowers, the repurchase of credits makes it possible to reduce its monthly payments by lengthening the duration. This operation of grouping loans has the effect of lowering the monthly payment of existing credits and therefore increasing repayment capacity at the level of the future project or the future home loan.

Take out a loan to increase your borrowing capacity

Take out a loan to increase your borrowing capacity

Suddenly borrowers recover borrowing capacity. The borrowers have a real estate project of 210,000 $ with a fixed interest rate of 1.50% and over a repayment period of 25 years. The monthly mortgage loan will, therefore, be $ 839 per month.

If we add the new monthly repayment of the loan plus the monthly payment of the mortgage, this gives the total monthly payment of the credits which is payable. Or 310 $ + 839 $ = 1149 $ monthly. If we divide this new monthly payment by the income amounts, this will give their debt ratio. Or $ 1,149 / $ 3,831 = 30%.In this example, the monthly payments of the two loans are calculated excluding insurance.

Quick non-bank loan – what do you need to know?

If for various reasons you cannot take a loan from a bank or if you need money urgently, an online non-bank quick loan is an option that you should definitely consider. You can complete all formalities without leaving your home. A non-bank loan via the Internet is available 7 days a week.

What is a quick non-bank loan?

What is a quick non-bank loan?

The non-bank loan is offered by private individuals or loan institutions. At present, you can get cash without a problem online all you have to do is spend a few minutes filling out your loan application. Quick non-bank loans are available without unnecessary formalities.

Banks’ requirements for borrowers are much more restrictive and the conditions for granting loans are dictated by banking law. Non-bank institutions are not subject to the same regulations as banks, which makes their approach to clients more flexible.

The operating principles of non-bank loan institutions are regulated by the Consumer Credit Act and the Civil Code. This applies to both short-term loans and installment loans. Of course, have no illusions – you will have to pay more for this freedom and a lighter approach to the issue of formalities.

A quick non-bank cash loan is easily available – due to the limited requirements for borrowers. Loan companies process applications for payment of up to USD 15,000 in a few minutes, but in the case of high amounts they often act similarly to banks – and this means that they check clients in the credit information bureau’s databases.

If you have no creditworthiness, quick non-bank loans as proof will solve the problem, but you must take into account that you will not receive more than a few thousand dollars.

Quick non-bank loans – on what terms?

Quick non-bank loans - on what terms?

Fast online non-bank loans require only submitting an electronic application to the chosen loan company. Each non-bank institution sets its own rules for granting loans. Some of them verify the customer’s creditworthiness history and require earnings certification, but fast non-bank loans without a Credit Checker are also available.

Then you have to meet the minimum formalities – the borrower must be over 18 years of age, although some companies provide financial support only to people who are at least 21 years old. You need an ID card and a bank account. The application should include a phone number and an email address. Instead of a statement of earnings, only a statement is necessary, i.e. written information on the amount of income.

Remember to fill out the form in accordance with the actual state, as misleading the lender involves criminal liability. After submitting the application, a quick non-bank loan is granted almost instantly, but first, you will be asked to perform a verification transfer to the lender’s bank account, thanks to which your data will be confirmed.

The verification transfer is purely symbolic, usually USD 1. The rest of the decision is returned to your account.

Remember that the verification transfer is also a kind of security for you. Thanks to this, no one else will take a loan, even if it has access to your data, because it would also need access to your account. Fast online loans are completely secure.

Fast online non-bank loan – benefits

Fast online non-bank loan - benefits

Choose quick non-bank loans online if you are looking for instant access to cash. Quick loans, although demonized, have many advantages. These include:

  • negative credit history does not affect the granting of the loan. Some loan companies do not check the Credit Checker databases. This means that if you have a history of late payment, you can still get a loan.
  • formalities are kept to a minimum. You must have an ID card, provide the bank account number, telephone number and e-mail address. Borrowers do not require an income certificate in many cases.
  • you can receive up to several thousand dollars. The maximum amount you can borrow is usually around 15,000 USD.
  • you don’t waste time visiting the facility. All formalities are carried out via the Internet, guaranteeing the comfort of applying for a loan anywhere, anytime.

Remember that quick non-bank loans cost more than bank loans. It is important to pay the liability within the set deadline because exceeding it involves high fees.

Problem-free quick obtaining non-bank ID cards are for clients who:

  • they do not have time for banking procedures and they need cash in the shortest possible time,
  • have a negative credit history and the bank does not want to support them,
  • they are indebted and with debt bailiffs,
  • have irregular income,
  • they are pensioners,
  • they are only 18 years old,
  • value comfort and efficiency of service via the Internet,
  • they want to use the extra cash without revealing why they want to spend it.

Loan with collateral – is it worth it?

Receiving a given product at a lower price will certainly please us. In the case of cash loans, our joy will be double. So how do you reduce the cost of our loan? Which of its elements are subject to any negotiations? We invite you to read!

Ways to get a cheaper loan …

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There are many legal options to lower your monthly credit obligations. These include, among others:

  • Consolidation, i.e. combining repaid loans into one,
  • Transferring the invoice with the proceeds received, thanks to which it will be possible to take advantage of the conditions as for regular customers (reduced commission and/or interest rate),
  • The use of guarantees with the offer, e.g. the Lowest Installment Guarantee at Alior Bank or the Lowest Interest Rate Guarantee at Fine Bank – which will reduce the price conditions received in another institution,
  • Selecting a special offer – most often, however, contains additional criteria that must be met to use it, e.g. the purchase of an additional product.

In addition, it is also possible to take out a loan with security. Is it a viable solution? What can be the subject of collateral? We checked!

Secured loan = cheaper loan?

Secured loan = cheaper loan?

We decided to check how much cheaper loans with established collateral will turn out to be. We also wanted to ensure that the establishment of repayment collateral was not in itself a complicated occupation and did not generate unnecessary costs.
Below is a comparison of loans with repayment collateral established.

What can be a collateral?

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To take advantage of a secured loan offer, it is sufficient, for example, to place a block on a term deposit kept by the bank where you want to take out a loan.

Unfortunately, the catalog of security measures that can be used is quite limited. Most often it is based on ordinary bank deposits kept in the Polish currency in the amount that will allow repayment of the loan principal and interest.

Cheaper but reasonable?

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The monthly installment for a secured loan is on average several dozen zlotys lower than the unsecured one. This is not a small amount, because over the entire repayment period it can bring even several thousand lower interest.

On the other hand, for the entire duration of the loan agreement, we block our savings against the repayment guarantee, which means that any larger expenditure cannot be financed from our own funds but from the loan …

Moderate sales success …

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The recent interest rate cut by the Good Finance has changed a lot. The interest rate on even the most expensive loan offers may not exceed 12% per annum, i.e. four times the interest rate of the NBP Lombard loan. It is already a relatively low-interest rate, which means that even those with secured loans are not so tempting …

From sources similar to bank analysts, we know that low nominal rates are to encourage customers to visit the branch and check the available loan offer. Product options with collateral constitute only a margin of all credit sales of banks.

Customers are not willing to freeze their savings for a longer period if they have them at all … If the loan repayment collateral in the form of a deposit lock is not our only financial cushion, then you should be interested in such a proposal. Otherwise, we are forced to pay higher installments, but without any restrictions or additional obligations.