Small loan with favorable conditions

Small loans mostly differ in terms. This includes not only interest rates, but also other factors play an important role in the question of when a loan is cheap and when it is not. The characteristic of small loans is the low loan amount. The banks grant a small loan from as little as USD 1,500.

Small loan with favorable conditions

Small loan with favorable conditions

A cheap small loan also differs in terms of term. Even with a small loan amount, terms of 12 to 84 months are not uncommon. The interest is calculated depending on the creditworthiness. Advertising with a low interest rate does not mean that the borrower will get it. Another criterion for a small loan with favorable conditions is that the first installment is only due after 89 days, as is the case with Agree bank, for example. Special repayments are also possible at any time.

Why apply for a small loan at all?

Why apply for a small loan at all?

With a small loan, wishes can be fulfilled that do not cost a lot of money. This can be a new sofa or a new PC. There is often a lack of money for new acquisitions, which is why only a small loan is possible. Even if the loan amount for a small loan is low, the applicant must also meet certain conditions here so that a small loan is also approved by the bank. Only people who are 18 years old can apply for it. Applicants must also have a permanent job. The last three salary or wage slips serve as proof. Negative entries in the Credit bureau make a promise impossible.

Use the overdraft facility in the checking account

Use the overdraft facility in the checking account

It can happen that the loan can be repaid within a short time because the borrower expects money. This can be, for example, the Christmas bonus or the vacation bonus. If the money is only needed for a few months, it makes sense to use the overdraft facility on the checking account. It is more expensive than a small loan with favorable terms due to the high interest rates, but using the overdraft facility saves you having to talk to the bank advisor or applying for a loan from an online bank. A disposition can be called up at any time and without prior consultation if it is not yet exhausted.

Credit bureau Free Credit hope for a normal loan from the bank

A Credit bureau-free loan or would you prefer a loan despite Credit bureau? What are the differences? What are the advantages and disadvantages? The contribution to the correct credit decision accompanies you with information.

Credit bureau-free loan or would you prefer a loan despite Credit bureau?

Credit bureau-free loan or would you prefer a loan despite Credit bureau?

A negative Credit bureau entry can affect anyone. Even the one-time negligent handling of a small invoice can ruin the Credit bureau statement for at least three years. You can no longer hope for a normal loan from the bank. For urgent financing requests, all that remains is a loan despite Credit bureau or a Credit bureau-free loan. At first glance, the types of credit seem to differ little. This impression is deceptive. There are two completely different loan offers.

Credit bureau-free means that Credit bureau is completely excluded. Credit bureau is therefore neither asked for a credit check nor is an approved loan entered into Credit bureau. A credit institution based in Germany does not offer such a loan. Loan offers from “dubious” sources or the serious loan of a foreign bank approved for Germany remain possible.

Despite Credit bureau, the internal regulations of the loan provider decide on a loan. In this case, the Credit bureau is inspected for a credit check. An approved loan and a loan rejection are entered. Despite Credit bureau, it makes sense to try the loan with a personal scoring value of at least H. Special banks from Germany, such as those from Best banks or credit portals, come into question as credit providers.

Advantages and disadvantages of credit options with poor Credit bureau

Advantages and disadvantages of credit options with poor Credit bureau

The greater variety of offers clearly speaks for a loan in spite of Credit bureau: As far as is known, a Credit bureau-free loan via a foreign bank can only be applied for with a single bank. Despite Credit bureau, the number of different credit providers is likely to be in the double-digit range.

Despite Credit bureau, there is also greater scope for credit. If necessary, a surety or property can have a positive impact on the loan amount. It is even possible to reschedule old debts entirely. However, everyone has to decide for themselves whether this is advisable in view of the high interest rates. The extra loan that Best banks costs, for example 11.95 percent APR.

This is not possible without Credit bureau. The loan offer only moves within very clearly defined limits. You can apply for 3,500 USD of credit or 5,000 USD. The Credit bureau-free loan is to be repaid in 40 constant monthly installments. In addition, a minimum income from dependent employment is generally required. (Stand-alone 3,500 USD credit at least 1,130 USD net)

Credit intermediary or personal initiative – what is worth it?

Credit intermediary or personal initiative - what is worth it?

If you want to apply for a Credit bureau-free loan, then it is more worth taking the initiative. A few years ago, there were still several reliable credit banks for loans without Credit bureau, and the supply has shrunk considerably due to the financial crisis and the intervention of BaFin (banking supervision). As far as is known, there was not a single legal foreign loan provider left in mid-2009. It was only since the end of 2010 that there was a foreign bank again, which granted legally Credit bureau-free loans to people residing in Germany.

It is SIGMA Kreditbank AG from Liechtenstein. The loan application can be conveniently downloaded from the credit bank’s website. It looks different with the loan despite Credit bureau. The research effort to really find all possible loan providers would be huge. Credit institutions hardly ever go public with their loan offers. Even on the Best banks website, there is not a word of credit available despite Credit bureau. It was only personal demand that provided the necessary information.

If you want to keep both options open, you are well advised to use the help of a credit intermediary. If it is all about a Credit bureau-free loan, then the credit broker is dispensable.

Credit check for Credit bureau-free financing

Credit check for Credit bureau-free financing

Advertisements that promise Credit bureau-free financing without a credit check belong to the “advertising duck” category. Credit bureau-free financing only excludes the credit check via the Credit bureau statement and the entry of an approved loan. The credit check for the loan without Credit bureau takes place in two stages. First, an insight is made into the public debt register. It is noted here whether the prospective customer has submitted the EV, for example.

There must be no entries for a Credit bureau-free loan to be approved. In the subsequent test, the minimum income is checked. This requires the last two pay slips and the bank statements. In addition, the employment relationship must have existed for at least 12 months. This proof must be provided via the income tax card or the December statement from the previous year.

Credit Debt Loan trap without a cheap loan

If you have to make a high additional payment to the tax authorities, you quickly get into the debt trap without a cheap loan for tax debts and receive mail from the bailiff. In order to avoid this and to be able to pay the debts to the tax office, you do not have to go to the house bank and try to get a loan to settle the debt.

Debts to the tax office reduce the creditworthiness, so that the applicant will receive a rejection from the house bank with reference to his financial background and the lower creditworthiness. It is different on the free financial market. Here you can also apply for a loan for tax debts and wait for a quick payment, you do not have a positive credit rating and can therefore not secure the loan with a financial background, but only with real assets or a guarantee.

Serious offers convince in variety

Serious offers convince in variety

The online loan from a private lender or a foreign bank, which is best found through a free and independent financial intermediary, impresses with its unbureaucratic processing and approval within 24 hours. Long waiting times can be avoided entirely and the debt at the tax office can be repaid with a loan for tax debts within the specified time frame. In order to find a suitable offer for the applicant, it is advisable to rely on a free comparison and find out which lender is equally convincing with low interest and fees, as well as the desired flexibility in the general conditions.

Under no circumstances should you choose a loan without comparison and pay so much too much or choose a contract without flexible repayment. Serious offers for a loan for tax debts can be found quickly and avoid that one receives an advertisement through tax debts, is seized and additionally gets an entry in the Credit bureau. Due to the unbureaucratic and fast processing, payment deadlines can be easily met and the tax office can transfer the amount that you owe according to the payment request.

Securing loans properly

Securing loans properly

In the free financial market, too, no loan is granted for tax liabilities without protection. You can offer the lender overrides of real assets such as real estate or vehicles, but also of capital-forming insurance or savings investments. If you do not have real assets or assets, you can use a guarantor to grant approval and ask family members, friends or business partners for a guarantee.

The guarantor is only held liable by the lender, the actual borrower does not pay the borrower reliably and is therefore in further debt with the lender. In this case, the liability is transferred to the guarantor and he must repay the installments to the lender instead of the borrower. But since you can easily find a loan that suits the borrower and can be paid off in the desired amount, the guarantee is only associated with a low risk for the guarantor and is accepted as optimal protection.

Real estate loans. Check how to enlist

Do you need cash for any purpose and you care about the lowest interest rate? Compare different real estate loans and choose the most favorable option.

Pledged loans – how does it work?

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If you are the owner of any real estate – apartment, house, office space, plot or arable land – you can use it as collateral for a loan. In exchange for establishing a mortgage in the land and mortgage register, you can get a loan of up to 80% of the property value.

Establishing a mortgage does not change your rights to the property – you still remain its owner and can use it freely.

Real estate loans, also known as mortgage loans, are often a much more beneficial solution than cash loans. For people who are in a difficult financial situation, they can also be the only way to get a loan for a large amount – in the case of companies it can even be several million USD.

Real estate loans and cash loans

Real estate loans and cash loans

Bank mortgage loans can be an attractive alternative to a cash loan. If you plan to renovate an apartment, vacation, wedding, buying a car or any other expense, consider financing this way. Why?

  • Like a cash loan, a real estate loan is granted for any purpose. This means that you don’t have to declare what you are going to spend the money on. This distinguishes a mortgage from a mortgage, which must be used to buy or renovate a property.
  • A loan against real estate can be granted for a much longer period than a cash loan. Thanks to this, your monthly installments may be lower.
  • By choosing a cash loan, you can get a higher amount of money. While the maximum amount of cash loans is about 150-200 thousand. USD, a loan against real estate may be granted even for 80% of the value of a house, flat or plot. This means that if the market price of your property is 500 thousand. USD, you can borrow up to 400 USD.
  • Mortgage loans usually have a much lower interest rate than cash loans. While the best loan against real estate bears less than 5%, the actual interest rate on the most favorable cash loan is 9.66%.

If you don’t own a property, you still have the chance to take out a mortgage. All you have to do is find a person who agrees to let their property secure your loan – for example, a partner, friend, parent or another family member.

Real estate loans – formalities

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To get a mortgage from a bank, you’ll need to provide documents that will prove your ownership of the property. They can be:

  • excerpt from the land and mortgage register of the real estate,
  • notarial deed confirming the purchase of the real estate,
  • act of donation,
  • excerpt from the land register,
  • real estate valuation made by a real estate appraiser,
  • property photos,
  • certificate of non-payment of rent in a cooperative or housing association.

In addition, as with other banking procedures, you will need to provide documents on the basis of which the bank will assess your financial standing. Usually, these are:

  • proof of income,
  • contract of employment,
  • account statement.

After submitting your mortgage loan application, the bank will also check your credit history in GFI. If in the past you had problems with timely repayment of loans, maintenance or telecommunications bills, this will be recorded in the database and may affect the bank’s refusal.

In order for your property to be considered as collateral for a loan, it cannot be encumbered with any other obligation. This means that if you are still paying off the mortgage for a flat, you cannot use it as loan collateral.

I am looking for a real estate loan – what about non-bank companies?

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Loans against real estate are also granted by non-bank companies. This option can usually be used by people who are in financial difficulties.

Unlike the bank, they will often not require income or employment certificates from you, nor will they check your credit history at GFI. To grant the loan, documents confirming ownership of the property are sufficient.

Non-bank real estate loans are usually associated with considerably worse conditions. The maximum repayment time is usually 36 months, and the APRC reaches even 40%.

Loan without commission – online loan offers

Do you need a quick cash loan but you want to avoid high costs? Below we present offers of payday loans with the first loan without commission – check our offers!

Cash loan without commission – what conditions do you have to meet?

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What requirements do you have to meet to be eligible for the first interest-free loan? First of all, it must be your first commitment to this particular Good Finance institution – for each subsequent one you have to take into account an additional commission for granting the loan and interest. In addition, the same rules apply as for other payday loans, i.e. you should:

  • have Polish citizenship,
  • meet the required age threshold.
  • not have debts in GFI, although this is not an obligatory condition,
  • have a certificate of earnings – this is also required only for some loan companies.

The vast majority of Good Finance institutions direct their offers to customers who are at least 18 years old – this is the case with Good Finance.

However, the borrower’s minimum age increases to 20 or even 23 years. Also, remember that offers may also be limited by an upper age limit – most often it is between 65 and 75 years old.

What does a para-bank company gain in this situation?

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By looking at the first interest-free loans, you are certainly wondering where the catch is – after all, you get the money you need, in a very short time and with almost no formalities. So you should pay for it – and you pay nothing.

It turns out that there is no catch here in the form of additional hidden costs. Such a free cash loan with no commission is only intended to encourage you to take advantage of this institution’s offer in the future – in the end, you have already checked it and everything went smoothly and without difficulties.

Instantaneous pay no commission – facts and myths

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The first loan without a commission is an offer that has been around for a long time – that’s why a lot of myths have grown around it. Below we present a few of them together with an explanation of whether they are true or not. Check if you already know everything about free loans without certification!

Payday loans for free are only given for a month

MYTH The vast majority of cash loans offered are granted on a monthly basis. However, it turns out that there are also those with a longer repayment period – all you have to do is mention Zaplo, which offers interest-free loans that you pay back after 3 months.

An APRC equal to 0% means that the loan is free and without additional fees.

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FACT The actual annual percentage rate here is 0%, which means that you pay off exactly as much money as you borrowed. Therefore, you do not have to pay any additional fees, commissions or interest. After all, remember to read the exact terms and conditions of a particular loan before taking it.

You can take several loans with no commission at the same time.

FACT Of course – nothing prevents you from submitting several loan applications to various para-bank institutions. Positive consideration of the application in one company does not mean that you cannot apply for another loan in another.

However, remember to drag them with your head – otherwise, you will quickly fall into a spiral of debt. You can read about how to avoid falling into it in our article: “How to avoid falling into debt.”

The first interest-free loan can be taken for any amount

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MYTH The vast majority of para-bank institutions offer up to USD 1,000 under the first free loan. Only later, when you repay this liability, you can borrow a higher amount – of course, then you will pay interest and commission because it will be your next loan.

Untimely repayment of the first loan without commission is equal to accruing interest

FACT If you do not pay back the loan, it will stop being free. You will have to pay additional interest as well as cover the costs of reminders and possible debt collection. You can also enter into the database of debtors, which will make it difficult for you to receive a loan in the future.

Good to know!

Instead of waiting for additional interest for late repayment, you can try to extend the repayment deadline. Of course, you will also pay a considerable amount for this option, but lower than the cost of additional interest and reminder prompts.

Remember to always borrow responsibly and control your debt – otherwise, it’s not difficult to fall into a spiral of debt.

Be sure to read the loan agreements before you sign them to avoid harmful clauses and hidden costs. What should you pay attention to? You can find more details in our article – check it out!

Student loan – how much does a college loan cost?

A student loan is one of the good solutions to cover the costs associated with upkeep during the studies. Obtaining, paying back and paying out student loans is currently regulated by Act 2.0.

What is student loan about? It can be used by young people who study at universities. Student loans have much more favorable conditions than consumer loans because interest is dated by the state, which makes the cost of student loans low.

From 2019, there were changes in student loans. The change was introduced and regulated by the Constitution for Science, also called Act 2.0, reforming national higher education. The act replaced four currently existing: the law on higher education, the act on the principles of financing science, the act on academic degrees and titles, as well as the act on student loans.

What are the conditions for obtaining a student loan?

What are the conditions for obtaining a student loan?

Student loan conditions for obtaining:

  • Students and doctoral students can apply for a student loan – however, all these people must start their studies before the age of 25
  • The main condition for obtaining a loan for students is the income criterion – it is announced by the Minister of Social Security (currently the maximum income per family member cannot exceed USD 2500 net)
  • you must have a student loan guarantor who, if necessary, will repay the obligation, e.g. parents, siblings
  • in the case when family members are dead and you don’t have a guarantor, you can apply for a guarantee from Bank Good Finance or a surety from the Agency for Restructuring and Modernization of Agriculture.

How does a student loan work?

A maximum student loan can be obtained for a period of 7 years as a result of changes in Act 2.0. The cash will go to students for 10 months in the academic year (excluding holidays). In the application, you must indicate the amount of monthly loan you want to get.

Only after 2 years from graduation do you have to start paying off the debt, including interest. When it comes to student loan repayment, the number of installments is twice the number of student loan tranches paid out.

What is the student loan interest rate?

What is the student loan interest rate?

An important issue that needs to be addressed in the context of student loans is the fact that we are dealing with a variable interest rate. The loan interest rate for students for the period of study and 2 years after their completion is 0 percent.

After this period, the student loan interest rate is 0.875% (half of the rediscount rate for bills of exchange of the National Bank of Poland, which is 1.75%).

What is the student loan amount?

The amount of student loans depends on the period for which we want to get a loan for the student and what monthly installments will be paid. The maximum loan amount is 1000 USD and the minimum is 400 USD.

In the 2018/2019 academic year, the monthly amount of student loans paid is:

  • 400 USD – reduced installment,
  • 600 USD – basic installment,
  • 800 USD – increased installment,
  • 1000 USD – increased installment.

What are the student loan repayment rules?

What are the student loan repayment rules?

Student loan repayment begins only 2 years after graduation. The number of repayment installments is twice the number of student loan tranches paid. In practice, if we received USD 1,000 for 50 months, we will pay USD 500 (plus 0.87% interest per annum) for 100 months.

Earlier repayment of student loans is possible – however, hardly anyone makes that decision. In the event of repayment problems, our commitment is taken over by the guarantor indicated in the application. It can be our parents, siblings, relatives, friends.

We can obtain a surety from Bank Good Finance or surety from the Agency for Restructuring and Modernization of Agriculture if we have no other option.

Is it worth taking a student loan?

In our opinion, it is worth taking a student loan. The conditions under which we will get credit for students are much more favorable than those for obtaining a consumer loan on normal terms.

The interest rate is subsidized by the state, thanks to which we repay only as much as we borrowed plus 0.87% interest calculated from the passing of the period of 2 years from graduation.

Only a student loan allows you to repay obligations only 2 years after graduation, which will give us the opportunity to get a job and increase our creditworthiness. A student loan is a good solution for getting cash to support yourself during your studies.

Loans without a penny – useful tips and offers

Loans without a penny transfer are extra money in your wallet. When applying, you do not need to provide your bank account for verification.

Loans without a penny – what’s that?

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A quick loan without a penny is financial support provided by a non-bank company. You can read more about financial institutions operating in Poland in the article: Who can borrow money in Poland?

What makes loans different without a penny? They are an easily available form of financial support – they are granted on the basis of checking the customer’s identity (ID card) and without additional certificates (e.g. without verification in the GFI databases). As the name suggests, when applying for loans without a penny, you do not need to make a verification transfer.

Remember!

Non-bank companies specialized in processing applications and granting loans to the account without transferring a penny. Because the money is not granted by the bank, but from the pool of funds collected by a private company, client verification is carried out in a completely different, much simpler way than in the case of traditional loans.

It is worth remembering that on the market you can find payday loans for those in debt without paying a penny or a loan without their own bank account.

A loan without a penny transfer – is it safe?

A loan without a penny transfer - is it safe?

Securing a loan with a verification transfer is not intended to discourage or hinder you from receiving additional money. This is a quick identification of the customer and confirmation that you are you.

Transferring a small amount – from just a penny – is good security in case someone tries to impersonate you and allows you to reduce the number of frauds in loans.

24h loans without a penny – check where you can get it soon

Is “bypassing” this procedure and choosing a loan for 18 years without transferring a penny safe? Yes, if you follow the rules. Here they are:

  • you borrow with your head – you count, compare and check offers,
  • you have an emergency exit – in case of repayment problems, someone (family, friends) is always able to help you,
  • you don’t overestimate amounts – you apply exactly as much as you need.

Pros of a quick loan without a penny transfer

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A loan without verification in the databases is a financial product that, although it is exposed to an additional risk – due to the very short repayment deadline – also has a number of advantages, which we wrote about, among others in the article Instantaneous hand – how to take a payday loan?

Undoubted advantages of loans without transferring a penny include:

  • no formalities – a penny loan is not a loan. You don’t have to have a very good credit history, and you’ll usually receive cash without any additional certification, e.g. from a workplace,
  • availability – loans without a penny via sms or the Internet – decide for yourself what form of contact with a non-bank company is most convenient for you,
  • costs – loans without a penny transfer can be really cheap. When? When you comply with the terms of the contract and pay the obligations on time,
  • purpose – trip, renovation, car? You decide for yourself what you will use a penniless loan and, what’s more, you don’t have to inform the loan company about planned expenses.

The cost of a loan without a penny is often USD 0, and the actual annual interest rate, i.e. APRC, is 0%. The condition is a timely payment of liabilities to the loan company!

A penniless loan – for whom?

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Loans without verification, payday loans or loans without a penny are financial products targeted at a wide audience. Why? Because loans without a transfer of 1 penny can be applied by virtually every adult who has a valid ID card.

It does not matter whether you are currently working or unemployed, studying, studying, receiving a pension. In each of these situations, you can apply for a quick loan without paying 1 penny.