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Germans like to finance on credit – as the latest figures from the banking association show: last year, the number of consumer loans granted in Germany rose by 6.9 percent to a total volume of 41 billion USD.

No wonder, because applying for and taking out a loan is no longer a big deal, especially via the Internet. If you follow some important tips, you will find the cheapest loan for your individual financing request within a few minutes.

Apply for loans online – you should pay attention to this

First of all, the potential borrower should carefully consider which amount of money should be borrowed from the bank: Too high a loan amount results in unnecessarily high interest payments – if too little money is borrowed from the bank, the planned financing may have to be paid additionally via the expensive overdraft facility. When preparing to take out a loan, consumers should also carefully consider the amount of money that can be conveniently spent each month to repay the loan.

The loan term results from the repayment rate – the period between the payment of the loan amount and the complete repayment of the money. The longer the term, the lower the monthly burden of the repayment rate. However, due to the additional loan interest due, the total loan amount increases at the same time. Similarly, the repayment rate is high with a short term, but the total loan costs decrease overall.

Uncomplicated loan application via loan comparison

After the parameters have been defined, the search for the cheapest loan can begin: To do this, simply enter the required amount of money and the desired term in a free and non-binding loan comparison. After a few moments, the comparison calculator determines the corresponding current conditions that many different banks offer for this individual loan request.

After the suitable offer has been determined, the loan can be applied for directly online via the loan comparison. After just a few minutes, the loan application from the desired bank is ready.

If the customer passes the first standardized credit check of the bank, the credit application and other documents for the second, thorough check must be sent to the bank using the Postident procedure. If this check is also successful for the applicant, the loan amount will be paid to the borrower’s account within a few days.

Renovating the house always involves significant expenses. Supporting them is possible thanks to solutions such as first home renovation mortgages. But which one has the most competitive conditions? Here are the answers you were looking for.

First home renovation mortgages: who offers them

When discussing first home renovation mortgages, several floors can be involved. One of these is the Social Institute ex Government Agency mortgage loan. Requestable by members of the Unified Management of credit and social benefits, it allows to obtain a maximum of $ 150,000. The sum can never exceed 40% of the value of the property according to the appraisal.

This mortgage can be requested for both ordinary and extraordinary maintenance works. The rate can be fixed or variable. In the first case it is equal to 2.95%. In the second, however, it must be calculated on the basis of the 6-month installment plus 200 points and calculated over 360 days.

Mortgage restructuring with Social Institute: how to request it

How can I apply for first home Social Institute ex Government Agency home loans? Proceeding only electronically. It is also essential to attach all the required documentation, including the substitute declaration of notarial deed. Otherwise, in fact, the application is excluded. The useful days for sending are from 1st to 10th January, from 1st to 10th May and from 1st to 10th September each year.

Banks also offer mortgages of this type. One of the lenders to consider is Single Loan.

Mortgage restructuring with Single Loan: how it works

How do Single Loan first home renovation mortgages work? First of all, remember that the customer can request up to $ 100,000. Secondly, the amount is paid on the basis of the progress of the work.

The aforementioned mortgage can last from 3 to 10 years. For loans up to $ 30,000, it is possible to proceed with a debit on a current account or on a prepaid Genius Card. For those who carry out work subject to tax deduction, a subsidized TAN of 6.5% is envisaged. The rate applied is fixed for the entire duration of the amortization.

Best Bank Mortgage Renovation: how it works, who can request it and how much can be obtained

Another product that deserves a mention in the field of first home renovation mortgages is the Poste Italiane proposal. The Best Bank Restructuring loan can have a duration of between 10 and 30 years. The customer who submits a cost estimate can request a sum equal to 100% of the same. A necessary condition is that it does not exceed 40% of the value of the property according to the appraisal.

The aforementioned mortgage can be at a fixed, variable or mixed rate. In the third case, the plan can be reviewed every 2 or 5 years. To see how it works we assume the request for a twenty-year mortgage of $ 100,000. In this case, considering the fixed rate, there would be a monthly payment of $ 533.75. The APR of the product is 2.71% and the TAN of 2.57.

What to know about Government Agency loans for tenured teachers

Facing a sudden expense, helping a child in the realization of a project, buying an indispensable good. There are many reasons why an Government Agency teacher loan becomes necessary.

Unlike ordinary loans dedicated to teachers, it ensures advantageous conditions and the reliability that only the national pension institution can boast. It is in fact a loan that falls within the scope of Social Institute Magistral Assistance Management loans, credit lines dedicated to teachers.

Soon Government Agency for permanent teachers 2020

Usually, before granting a loan, even if of a small amount, banks and financial companies require the presentation of income and real guarantees, such as lien or mortgage rights on the home.

And in the face of many guarantees , interest rates are not always advantageous. It happens in fact that for a request of a few thousand USD, banks apply rates of even over 5%.

This does not happen with the Government Agency loan for teachers 2020, which provide for an interest rate of 1.50%. The administration costs are then added to the interest, equal to 1% of the gross amount of the loan. All these sums are withheld in advance on the amount of the loan.

The amount payable is equal to two months’ salary in use at the time of the request, to be repaid with a monthly installment amortization plan with a two-year duration.

As for the requirements, only teachers and school directors employed indefinitely in primary and kindergarten schools have access to the Government Agency loan for teachers. For the purposes of access to credit, the applicant must not be more than two years away from retirement.

The disbursement is possible only on condition that funding is requested for one of the reasons provided by Social Institute. These include: the birth or adoption of a child, the marriage of the applicant or a child, the purchase of the residence house and the purchase of a car.

 If the creditworthiness is poor, applying for credit from the house or car bank is not successful. On the free financial market, applicants can also apply for a loan without guarantors and co-applicants who cannot shine with their financial background, high income and permanent employment contract or the naming of a guarantor with a positive credit rating.

The free financial market allows various types of hedging that disburses a loan and favors quick approval. Since the offers show up in an enormous variety, a previous comparison should serve as a basis and show a high relevance of suitable offers.

Without credit and guarantee for the loan

In many cases, when requesting a loan, it is not possible to provide a family member or friend with a guarantee or to designate him as a co-applicant. In the many offers for a cheap and advantageous loan without guarantor and co-applicant, however, there is no problem in deciding on a loan with other options as security for the lender.

The protection must only convince to the extent that there is security in the event of problems with the repayment and that the lender can rely on the security and use it to avoid his own losses. Real assets or savings investments and building loan contracts, as well as insurance with capital-forming properties meet with acceptance and can be used to secure a loan without guarantors and co-applicants.

The potential borrower should refer directly to his possible collateral in the online application, which enables him to favor a timely approval within 24 hours and to call for a payment of the loan amount within a short time.

If the security shows an adequate amount to the requested amount with the lender, nothing stands in the way of an approval and a basis is created that enables both the lender security and the desired payment for the borrower. A loan without guarantor and co-applicant is suitable for different needs and is extremely flexible in terms of the amount approved and the intended use on the free financial market.

Optimal framework conditions with high flexibility

In order not to endanger the overwritten or deposited collateral, a loan without guarantor and co-applicant should be chosen with a high degree of flexibility in the contractual terms. In a comparison of different loans, it is easy to find the right offer and decide on a loan that allows changes in the repayment without additional costs and thus favors a flexible adjustment within the term.

At the time of the loan request, an applicant does not know how his financial situation will develop within the term and whether it will change for the better or whether it will have negative influences. If a loan is chosen flexibly and can thus be optimally adapted to the financial situation, there are no problems with repayment and the borrower can choose changes without additional costs.

 

Currently, buying and selling transactions are increasingly easy to do. The method also varies to the point that it makes you confused in choosing which one best suits your needs. Of the many payment methods available today, payment using a debit card and credit card is the most popular. Before examining further which ones are used according to needs, let us know in advance the use of the two cards.

 

Use of a Debit Card (Debit Card)

Many people mistakenly think that a debit card is the same as an Automatic Teller Machine (ATM) card. In fact, there are significant differences between the two. Judging from the physical, the two cards are indeed similar. However, these two cards are very different when viewed from their use.

ATM cards are used at ATM machines and transactions that can be done are only limited to those listed on the machine, such as cash withdrawals, transfers, electricity payments, credit purchases, and others. While debit cards are used in making payments when shopping. The process takes place through a device called Electronic Data Capture (EDC) or Magnetic Stripe Reader. However, debit cards can also be used at ATM machines. So, the balance in your savings will be deducted if you make payments using a debit card. It would not be a mistake to conclude a debit card as a payment instrument in lieu of cash.

 

Use of Credit Cards

The function of a debit card and a credit card is almost the same. This is what makes users of noncash payment instruments confused. Yes, the two cards generally function as a means of payment when buying and selling. So, what is different about the two cards?

The big difference between debit cards and credit cards is the payment system to debit and credit card issuing banks. As explained earlier, a direct debit card deducts some of the funds used for spending at that time. While on credit cards, money withdrawn for shopping transactions is a debt that must be paid. And to pay it, you make an installment payment at a certain time (usually per month) to pay off existing shopping debt.

 

Then, when is the right time to use it?

Debit cards are suitable for shopping for daily or monthly needs. This card is suitable for those of you who want to avoid wasteful nature and want to shop as needed. You can separate spending money by creating a special account for shopping and making a debit card from the account. If one month’s shopping is limited to $2,000,000, more than this nominal debit card cannot be used.

Well, if you don’t want to bother using two or more cards, a debit card can be a suitable choice because it can be used to make transactions at ATM machines. However, please note that there is a 3% discount in advance. While credit cards are suitable for enjoying cashback, bonuses, or rewards. Banks that provide credit cards usually work with merchants to create promos so that many people are interested in using a credit card.

Credit cards are also suitable for payment of daily transportation costs. Several types of credit cards provide facilities for purchasing plane or train tickets. Air Miles facilities on credit cards provide several benefits, such as airport lounges, free tickets, and even holiday packages abroad. If you use a train, you can use business class at economic prices.

In addition, credit cards can also be used to pay for motorcycle taxis or online taxis. That way, we can save on expenses for transportation every month. What about private vehicles? Take it easy, there is a credit card facility called BBM cashback which provides cheaper fuel prices.

 

Prioritize the Scale of Needs Priority

From the explanation above we can know the difference between debit cards and credit cards. Starting from the use in buying and selling transactions, the benefits that can be enjoyed, to the payment of daily transportation costs. Just find out what needs you want to meet. Then match which card is the right one to use. Don’t forget, stay on the priority scale so that expenses are maintained.

Although the use of credit cards is very common in the community, it turns out that knowledge about the ins and outs of this card is not fully understood by customers. One of them is about the conditions during an emergency, for example, a cardholder’s customer dies. What about the card bill that still hasn’t been paid? Is it automatically considered paid off or is the responsibility of the heir?

As regulated in Article 833 paragraph (1) of the Civil Code (Civil Code) that the heirs of the deceased client get ownership rights to all goods, all rights and all receivables of the deceased person. This means that if the heirs are willing to accept the right of inheritance to eat legally must also be willing to be responsible for the liability of the deceased heir (customer) including the obligation to pay off credit card bills.

Credit card bills are optional insurance facilities

Credit card bills are insurance facilities that are optional, can be taken or not by the customer. This insurance protection is usually offered when applying for a credit card or when starting to pay bills. If you take insurance, then when there is a risk of death the bill will be covered by the insurance, and vice versa.

If you have not joined this insurance program, then it is better to contact the bank if you want to get protection. Premiums paid monthly are paid together with monthly bills or installments.

The amount of the premium is usually around 1% of the value of the monthly credit card bills (often below 1%), for example, at bank A the premium for insurance protection is 0.50% of the monthly bill, or at bank B at 0.60%. Not too expensive actually, rather than later burdening the heir when a risk of customer death.

Different insurance, different benefits

Each bank has its own partnership with each insurance company to offer their credit card protection products. Customers should study each of the benefits of the bank and insurance collaboration product and adapt it to their needs.

For example, bank A offers an attractive product in the form of a 30% bonus from the bill if during participating in the insurance program, the customer has never made a claim for at least 3 years specifically for a monthly premium value of USD 50,000.

Different again with bank B customers who can get attractive offers in the form of credit card debt protection that protects customers from critical illness, meaning that if the customer experiences a critical illness risk that falls into that protection category, the insurance airline will pay all customer credit card bills.

Credit card insurance products usually include at least protection from the risk of death, permanent disability, and temporary disability.

If Done Right, the Process for Handling Credit Card Bills is Not Complicated

As long as it follows the process correctly and the complete file, the credit card issuing bank will also process it quickly. They also understand the calamity experienced by these customers.

The key is to equip your credit card with the required insurance. You can buy through a card issuing bank (practical, one-stop service) or can also go directly to insurance companies (usual premiums are cheaper).

There are times when the situation tightens, the account does not close and the result is s one: debts begin to accumulate. But running after any loan is how debt solution can make things worse. The best to do is to stay calm and invest in realistic financial planning to restore the financial situation and stay away from further damage. If this your reality, this article will help you get out of trouble. Check out our list of 6 strategies to solve your doubts and return to live peacefully. 

 

Have a good financial organization

Wait, want to get out of the red but you don’t even know how much you are owing ?. The first thing to do understand the dimension of the problem: how big is your debt, how many installments are still to be paid and obvious, your values and which one the interest rate. With this panorama, you are a realistic picture of your financial health and power draw up an action plan prioritizing debts and considering their real risks, avoiding further losses such as losing assets such as cars and houses, for example.

 

Make a debt management plan

Now that you do you know the real scenario of your debts, investing in a payment plan should be the first strategy to solve your problem. For that, you must observe your income and expenses: reduce everything that is unnecessary and allocate a part of your income to pay off debts. A good tip is to boost your income with Overtime and Jobs like freelancers. The extra income will help to leverage your plan. 

 

Renegotiate your debt

Renegotiate your debt it is a way to prevent interest from continuing to increase the amount in debt exponentially and, mainly, to try to reduce the amount due. From renegotiation, old life extinct and a new one open. So, if your name was negative, it may be a great way to clean it up. Get in touch with the lender and present your negotiation proposal within your real payment possibilities. Show firmness and willingness to pay what you owe, but remember: if you do not comply with the negotiated, the name returns to the default record.

 

Bet on debt consolidation

If you have many doubts, research the possibility of consolidating them in a single. That is, you acquire a loan with lower interest to pay the debts and is left with only a debt to be paid. The main advantage of this strategy the reduction of interest rates, which makes it one of the best solutions to save on the payment of debts.

 

Search for a refinance

Refinancing assets like an apartment or car as a solution to outstanding debts helps eliminate high-interest spending. The big advantage of this type of personal loan that has the assets as collateral the interest rate is very attractive in relation to other types of credit available, which allows to save in the long term and create up to even plans to pay off the refinancing more quickly. a good solution for those who are very indebted or with a dirty name in the square. It is necessary, however, to be careful with the installments, because if you do not pay them, the bank or financial institution can take your good and auction it Seeking a solution of doubts never easy. Often, staying in the red requires less discipline and commitment, but the path of effort, patience and great rewards towards organized financial health. 

At Community, anyone with the appropriate level of solvency can apply for a loan, which will be financed by others like him who operate from the other side as investors. Thus, the profitability that a bank normally obtains for a personal loan is distributed by Community among the individuals who exercise this role.

Who can ask for a loan in Community

Any natural person of legal age and resident in Spain can apply for a loan. Companies cannot take advantage of this service as a financing formula, although they can benefit from others, such as the promissory note discount, which Community also manages.

From these first basic requirements, there are others that must be fulfilled for the approval of the loan, which are summarized in presenting a set of labor and family-family circumstances that configure a low risk profile and that offer sufficient guarantees. This profile is the one that Community will study if the request is pre-approved, in which case you will be asked to send the supporting documentation that is needed to make the appropriate checks.

How much can be requested

The minimum amount for a loan granted by Community is 600 USD, although this amount can go up to 8,000 USD, which is the credit limit that is offered. The term and interest are variable, but while the first factor is decided by the applicant among the possibilities offered (6, 12, 24, 36 and 48 months), the second is at the discretion of Community depending on the degree of solvency. What present. Typically, these interests range between 8 and 17 percent.

To establish this degree of solvency, Community requires the sending of certain documentation. In the case of being an employee, it will consist of a photocopy of the DNI on both sides, a copy of the income tax declaration (IRPF), a bank statement of the last 90 days of the account where usually They pay you the payroll and a copy of the last three payrolls received.

If you are self-employed, in addition to the DNI and the income statement, you must attach the last 3 supporting documents for installment payments (form 130/131) or VAT, copy of your working life (failing that, registration in the IAE and the last two receipts of the self-employed payment ) and a bank statement of the main account of your activity during the last three months.

With all this information, the application will be rejected or approved, and in the latter case, a risk level, A, B or C, will be assigned, which will affect the interest to be paid. The higher the risk, the higher interest you will have to pay for the loan. The approximate period of time to obtain a response from Community is two days.

The conditions to apply for a loan are demanding, since it is Community’s responsibility to guarantee that the individuals who decide to act as investors have the adequate level of guarantees for their money.

Credit approved

If after this exhaustive study your application is approved, there remains a second part of the process, getting investors to finance it. It should not be forgotten that the function of Community is, mainly, to carry out intermediation functions between investors and borrowers, establishing the necessary guarantees and mechanisms so that the entire process is conducted normally and smoothly. This means that some get the money they need and others the return they expect.

Precisely because of the demanding requirements and the depth of the previous study, obtaining the financing of the loans is not a difficult task. Investors usually diversify by investing in many different loans as a way to minimize risks, so the fact that a client has been considered level C (higher risk level) is not going to be an insurmountable problem.

Level C customers pay higher interest, which means a higher return for the investor. Therefore, according to the usual practice of diversifying investment in different loans, individuals usually establish a portfolio with investments in clients of all three types. Part of its investments are destined to loans with the maximum guarantees but less interest, another to those with a higher risk and a more profitable return, and a third to those who maintain a balance between both aspects.

Once the investors finance 80% of the requested credit, the client will be able to dispose of their money.
Once in possession of the cash, the client must make the corresponding payment on the 1st of each month

Advantages of requesting a loan from Community

We have already seen how Community works. Is it the best option for a personal loan in your situation? Only you can answer that question, but what has become clear are the advantages of requesting it by this means.

The interest rate is similar to that which could be obtained through a bank, however the process is more agile and faster. This does not mean that the risk analysis is more lax, on the contrary. It should not be forgotten that Community is also made up of investors who from the other side finance the loans and who must also respond to them.

On the other hand, applying for a loan in Community does not entail notary fees, and in case of payment problems, you can always negotiate a new payment schedule adapted to the new situation. With all this in mind, Community can be a good way out for both those who need money and those who want to give theirs a good return. If yours is one of these cases, visit Community and find out more in depth.