musur.net http://www.musur.net My WordPress Blog Sun, 26 May 2019 05:27:21 +0000 en-US hourly 1 https://wordpress.org/?v=5.2.2 Small rechargeable loan: how does it work and how much can you get? http://www.musur.net/small-rechargeable-loan-how-does-it-work-and-how-much-can-you-get/ http://www.musur.net/small-rechargeable-loan-how-does-it-work-and-how-much-can-you-get/#respond Sun, 26 May 2019 05:27:21 +0000 http://www.musur.net/small-rechargeable-loan-how-does-it-work-and-how-much-can-you-get/

It is not uncommon to hear about small, rechargeable loans. But what do we refer to when we talk about these financial products? The first thing to keep in mind when it comes to rechargeable small loans is the maximum budget that can be obtained. Small, rechargeable loans provide access to a credit line of up to 5,000 euros .

The fact that it allows you to repay only the money actually used is interesting. Basically, with this loan you have the possibility of constantly renewing the loan as long as the money used has already been repaid.

Small rechargeable loan: that’s how much you can get

Small rechargeable loan: that

As anticipated, the small rechargeable loan represents the ideal solution for all those who need a sum less than or equal to 5,000 euros quickly. Using the technical language, this type of loan is defined as not finalized because the applicant does not have the obligation to declare precisely the money he needs.

Furthermore, it is not even necessary to explain the reason for which the loan request was made. Indeed, reimbursement can be established depending on the applicant’s working condition. Basically, we have to do with a loan that is to say the least flexible, which manages to meet the needs of the applicants. For the most attentive, it will not be overlooked that the small rechargeable loan looks very much like a so-called revolving credit card .

In fact, the comparison is not entirely wrong. The small rechargeable loan, in fact, can be considered a real permanent solution. In this regard, it is interesting to underline the fact that, if the applicant realizes that the sum granted is not sufficient, a recalculation of the same and, consequently, of the installments with which to return the sums used can be made.

Interest rates and repayments

LOAN

The small rechargeable loans are totally released from the very high interest rate mechanism. For this reason, applicants have the option to return only the money actually used without having to deal with totally disproportionate interest rates. Generally, installments are established based on the specific needs of those who have applied for the loan. In any case, and these are really very low monthly installments, however, below 50 euros . How easy it is to understand, therefore, it is a loan to which everyone can access without any kind of problem. A very interesting aspect to take into account concerns the fact that the small rechargeable loan does not provide for any kind of preliminary cost. The savings, therefore, is considerable. The times are really very fast. In fact, a small rechargeable loan can be granted in just 48 hours . Obviously, a lot depends on the economic capacities of individuals, the work they do and their historian.

Rechargeable loans: which to choose?

Rechargeable loans: which to choose?

There are really many alternatives on the market to choose from. For this reason, it is important to compare the various alternatives and choose taking into account personal needs. One aspect to consider is interest rates. In fact, they can have a more or less important impact on the monthly payment and, therefore, they must be scrupulously scrutinized. Regardless of the various options, it is useful to note that to access the credit line it will be necessary to produce the last paycheck and the employment contract both for a fixed-term and an indefinite term, the CUD, the tax return or the pension certificate. Basically, one has to prove that one is able to repay the amount that will be used .

In some cases, it is also possible for a worker not to be granted a small, rechargeable loan. The reasons may be the most varied and, obviously, they are linked to the specific needs of the banks that provide the loans. To overcome this problem, it is possible to offer other guarantees with which to prove to be able to pay the installments. Any examples? Demonstrating making regular payments to your current account could be a good guarantee.

Alternatively, you can show that you have a fixed income such as a rent. The best solution as well as the most immediate is that of a guarantor . The guarantor is responsible for guaranteeing the applicant and reassuring the financial institution about the possibility of returning the loaned money. In short, the small rechargeable loan is the best solution for all those who need money quickly and who have no intention of asking for amounts in excess of 5,000 euros.

]]>
http://www.musur.net/small-rechargeable-loan-how-does-it-work-and-how-much-can-you-get/feed/ 0
Personal Loan: Assignment insurance of the fifth http://www.musur.net/personal-loan-assignment-insurance-of-the-fifth/ http://www.musur.net/personal-loan-assignment-insurance-of-the-fifth/#respond Sun, 14 Apr 2019 05:15:16 +0000 http://www.musur.net/personal-loan-assignment-insurance-of-the-fifth/

The assignment of a fifth of the salary or pension is a very flexible form of personal loan and, therefore, increasingly used by those who need funding to meet certain expenses. This product is aimed at employees, employed in the public or private sector, as well as pensioners.

The loan is personal and not finalized

personal loan

Meaning that it is not tied to a specific use . It is therefore a solution suitable for those who need additional liquidity to meet cash requirements of various kinds.

The maximum duration cannot exceed ten years (120 monthly installments). The maximum amount that can be paid, on the contrary, has no limits, but varies in relation to the monthly income received by the debtor, that is in proportion to his salary or social security allowance.

As can be deduced from the word itself, in the assignment of the fifth the limit is fixed at 20% of the net revenues . This threshold is equivalent to the maximum installment, which therefore includes both the principal amount to be repaid to the financial intermediary and interest (at a fixed rate).

Assuming the case of a subject who receives a net salary of 1,500 euros a month

Assuming the case of a subject who receives a net salary of 1,500 euros a month

The maximum installment that can be granted is 300 euros. The sum will be withdrawn each month from the payslip, as it will be directly the employer or the social security institution to withhold the quota and to pay it to the creditor.

As a result of this mechanism, which has a long history having been introduced for the first time in 1950, the bank / finance is in theory safe from the risk of debtor insolvency , since the installment is paid directly to the source. The sale of the fifth is thus a useful tool also for those who would find it difficult to obtain other forms of loan, perhaps because they have been reported to SIC as bad payers. As recognized by the Bank of Italy , the sale of the fifth therefore plays an important role in terms of financial inclusion, in favor of customers “that could otherwise be excluded from the credit circuit”.

However, there are some cases in which the “certainties” can fail. This is why insurance companies come into play, whose role is to protect the parties involved (debtor and creditor) from possible future risks capable of calling into question the successful repayment.

As already happens for mortgages and other personal loans, it should be noted immediately that there are different types of insurance policies. Not all of them are mandatory.

Article 54 of Presidential Decree no. 180/1950 establishes that the assignments of the fifth “must have the guarantee of life insurance and against employment risks “.

According to the law, therefore, the only compulsory insurance coverage for employees is that relating to the risk of premature death and loss of a job . In the case of pensioners, the obligation only concerns the risk of death.

On this point, it is common practice for banks and financial companies that provide the loan to propose the “recommended” insurance policies to the client. The contracts cannot be issued directly by the same body, as the current legislation prohibits intermediaries from operating in an “obvious” conflict of interest, ie being both the placement agent and the beneficiary of the contract. However, it is possible for financial institutions to offer policies issued by affiliated companies , or otherwise linked to the same business group.

In this case, the customer is not obliged to accept the proposed solution. The bank / financial is required by law to accept any insurance policies already held by the customer, stipulated on its own account.

Naturally it is always advisable to read up as accurately as possible

personal loan

On the characteristics of the policy offered , in terms of premium (single or periodic), ancillary charges , maximum amounts , renewals , exclusions from the guarantee and claims for compensation . This is the only way to compare convenience with other similar products available on the market.

It is also essential for employees to verify the nature of the policy against the risk of job loss. The solutions on the market can be divided into two macro-categories: those for the protection of real credit and those for the protection of possible future economic losses .

The mechanism is apparently identical: if the debtor loses his job in an unforeseeable and unjustified manner (dismissal without just cause, bankruptcy), the company will pay the missing loan installments to the creditor bank. But there is a big difference.

In credit risk policies, the lender maintains the right of subrogation of the company towards the debtor. This means that the insurance, after having settled the claim, can ask the insured for reimbursement of the sums paid.

In the “pecuniary loss” policies , on the other hand, the protection for the debtor is greater, as the company will liquidate the amounts owed to the creditor until the insured debtor finds a new job. In any case, the claim will remain the responsibility of the company and the insured / beneficiary will not have to respond in any way.

For these regions it is necessary that when signing a policy combined with a salary-backed salary, workers pay close attention to the classification under consideration. Furthermore, as required by the guidelines of the Bank of Italy and of the IVASS, intermediaries must give “adequate evidence of the existence of the right of subrogation and its effects”, but sometimes the behavior of operators may be different.

The fact remains that in the event of dismissal for just cause or voluntary resignation of the worker, the right to insurance reimbursement ceases.

Finally, we remind you that in the event of early repayment of the loans, in accordance with the provisions of the individual salary-backed contracts, the debtor is entitled to a refund of the portion of the “unused” insurance premium, since it refers to the amortization period still remaining.

Furthermore, the cost of insurance coverage linked to the loan must be included in the APR of the salary assignment.

]]>
http://www.musur.net/personal-loan-assignment-insurance-of-the-fifth/feed/ 0
Cheaper loans? Find out with the comparison of the various proposals http://www.musur.net/cheaper-loans-find-out-with-the-comparison-of-the-various-proposals/ http://www.musur.net/cheaper-loans-find-out-with-the-comparison-of-the-various-proposals/#respond Wed, 10 Apr 2019 05:40:36 +0000 http://www.musur.net/cheaper-loans-find-out-with-the-comparison-of-the-various-proposals/ Are Uni Bank or Uni Lender loans cheaper? Is it a question that haunts you and you can’t know how to answer? Certainly the financial and credit products offered by these players operating in the credit market are transparent products and of certain interest for those who intend to contract a loan; obviously to evaluate the convenience in contracting a Uni Bank or Uni Lender- branded loan , we must take into account the number of factors that come into play: the amount of financial capital needed, the time period necessary to repay it, the the monthly installments, the insurance policy to cover and combine the financial loan.

How can you proceed before contacting a Uni Bank or Uni Lender branch located in Italy? Well, a useful advice is to first of all be able to access the institutional sites, fill out the form that allows you to do, in just a few clicks and with ease from any PC, smartphone, tablet or PDA connected with Internet line, a personalized quote .

Uni Bank and Uni Lender: two convenient financial institutions

Lender

Nowadays it cannot be denied that convenience is not followed and the financial world must also adapt to this need: precisely because of this motivation, the financial and credit institutions propose themselves on the market with increasingly more competitive and more appetizing products able to attract public approval for the most modest charges and low interest rates .

Without a doubt, the two most popular financial institutions in recent times are Uni Lenderducato and Uni Bank, which offer excellent credit products with great added value: their products are increasingly closer to the needs of the market and can reach everyone, from the youngest to the youngest, with offers made ad hoc. To understand the convenience of one or the other, you must give an example of personal loan quotes and proceed to the comparison, just so you can guide consumers towards Uni Bank or Uni Lender.

Uni Bank: contractual conditions of the financial loan

financial loan

The Uni Bank financial company has deployed online personal loans on the market, which is flexible according to the needs of customers, whose peculiarities are:

  • possibility of 100% online loan signing with digital signature
  • you can change the installment without costs,
  • zero ancillary costs : stamp duty / replacement charge € 0, practical inquiry 0 € , collection and management installment 0 €, periodic communications 0 €
  • financing up to 100% of your project amount without advance payment.

The requirements to apply for the loan are:

  • aged between 18 and 75,
  • provable income,
  • residence in the Italian territory,
  • current account holder.
Loan features Refund method
  • Amount from € 1,000 to € 60,000
  • Total financing of the project
  • No need to change bank, you receive the full amount on the subscriber’s current account

 

  • Direct debit on the current account

To request a Uni Bank financial loan quote :

  • choose the installment online through the financial simulator,
  • fill in the form online with the data of the subscriber,
  • sign the loan agreement online using the Digital Signature service,
  • send the documents necessary to evaluate the loan application.

Uni Bank quote examples: would you like to buy a car and need 20,000 euros?

Uni Bank quote examples: would you like to buy a car and need 20,000 euros?

Here are the solutions that Uni Bank offers with insurance coverage:

Monthly installment Loan duration Tan APR
306.40 euros 96 months 8.45% 8.79%
337.20 euros 84 months 8.45% 8.79%
356.30 euros 78 months % 8.45 8.79%
378.50 euros 72 months 8.45% 8.79%
405.10 euros 66 months 8.45% 8.79%
437.00 euros 60 months 8.45% 8.79%
476.10 euros 54 months 8.45% 8.79%
525.00 euros 48 months 8.45% 8.79%
672.50 euros 36 months 8.45% 8.79%

Uni Lender Ducato: contractual conditions of the financial loan

Uni Lender Ducato: contractual conditions of the financial loan

An interesting proposal offered by Uni Lender Ducato is the Duttilio loan , a flexible personal loan: with Duttilio , Uni Lender’ flexible loan, you have an answer to all your needs! If the request is approved, the loan is obtained in just 48 hours; in addition, the amount is paid directly to the subscriber’s current account.

With you can:

  • skip an installment and postpone repayment,
  • change the monthly payment amount,
  • obtain the amount within 48 hours of approval of the request.

Examples of quote Uni Lender Ducato: do you want to buy a car and need 20,000 euros?

Let’s see how in the previous example to make some simulations of budget so as to allow the comparison of financial loan offers for the purchase of a car, amount requested 20,000 euros with insurance coverage.

Monthly installment Loan duration Tan APR
257.40 euros 120 months 8,91% % 10.02
275.20 euros 108 months 8,91% 10.07%
297.90 euros 96 months 8,91% 10.14%
317.00 euros 84 months 7,91% 9.13%
356.70 euros 72 months 7,91% 9.23%
412.70 euros 60 months 7,91% 9.38%
497.10 euros 48 months 7,91% 9.60%
638.40 euros 36 months 7,91% 9.97%
921.80 euros 24 months 7,91% 10.68%
€ 1,773.70 12 months 7,91% 12.70%

 

]]>
http://www.musur.net/cheaper-loans-find-out-with-the-comparison-of-the-various-proposals/feed/ 0
Payday Loans without representing your paycheck http://www.musur.net/payday-loans-without-representing-your-paycheck/ http://www.musur.net/payday-loans-without-representing-your-paycheck/#respond Mon, 08 Apr 2019 05:06:28 +0000 http://www.musur.net/payday-loans-without-representing-your-paycheck/

Financial companies which in Italy grants personal loans even without payroll and therefore allows access to credit to those who often have greater economic difficulties and at the same time find themselves cut off from any possibility of obtaining money borrowed.

Payday Loans without representing your paycheck

Payday Loans

The pay slip for credit and financial institutions is a form of guarantee for the repayment of the sums lent, and for this reason most credit companies place the presence of a temporary employment contract as an essential condition for the loan, even of small sums undetermined, and in some cases even for a fixed term.

Italian Lenders stands out and to meet the needs of all offers loans without pay even online. Italian Lenders’s strength lies in offering customized solutions based on the needs of individual applicants and with reduced costs, all with the certainty of a clear and transparent contract, without unpleasant surprises.

Italian Lender’s loan contracts without payroll include zero collection and management fees, zero preliminary costs, no stamp duty and no added costs for periodic communications. These characteristics lead the TAN (Net Annual Rate) to be very close to the APR (Annual Global Effective Rate) and therefore the total to be returned does not become excessively onerous and above all can be known immediately. Among the advantages of Italian Lenders loans there is also the possibility in the course of the loan to remodel the installment after the first six months.

Italian Lenders who can apply for a personal payday loan without pay slip

payday loan

Obviously, when a loan is requested, one must be in a position to repay the sums because the credit institutions nonetheless carry on a profitable activity and not public charity. However, there are situations in which although there is a certain economic capacity traditionally loans are not given, Italian Lenders with the loan without a pay slip meets the needs of these people.

Italian Lenders loans without pay checks are aimed at
– atypical workers (occasional collaboration contracts, coordinated and continuous collaborators), these are contracts that are considered self-employment and do not offer particular guarantees over time;
– part-time workers ;
– students (from 18 to 35 years you can opt for the loan which offers particularly favorable conditions);
– unemployed;
– illegal workers who, despite having an income, do not have a formal pay slip;
– housewives .

In these cases, however, to obtain a loan it is necessary to have alternative guarantees, for example the presence of a guarantor , whether it be a friend or relative, or the possibility of offering a mortgage on an asset whose value is in any case adequate compared to as requested. If you request a loan with the signature of a guarantor, in addition to presenting your documents and the signature, you must also show the pay slip.

It is possible to obtain a loan without a pay slip even if you are the owner of a property that produces income, for example in the case of a lease, or if you are in possession of mobile securities that constantly produce income, or a financial income.

To obtain a Italian Lenders loan it is also necessary to be between the ages of 18 and 75, residing in Italy and a current account header. The request can also be sent online by filling out a form, scanning ID card and social security number and signing the digital signature. For those who love more traditional methods.

How much can I request?

How much can I request?

Another characteristic that makes Italian Lenders different from the other financial ones is represented by the fact that maximum amounts are not foreseen. The maximum sum payable is established from time to time based on the guarantees presented by the applicant.

To obtain a loan, however, it is necessary that the condition of the applicant and the guarantor be assessed, for this reason it may be necessary to wait some time before receiving the acceptance of the request and consequently the money. Loans without Italian Lenders paychecks are not finalized so it is not necessary to indicate the reason why the loan is requested. The money obtained can be used to consolidate other debts and pay a single installment, pay the holiday, or furniture. Whatever the need, Italian Lenders has the right solution for your needs.

]]>
http://www.musur.net/payday-loans-without-representing-your-paycheck/feed/ 0
What are the advantages of loans? http://www.musur.net/what-are-the-advantages-of-loans/ http://www.musur.net/what-are-the-advantages-of-loans/#respond Tue, 26 Mar 2019 05:30:32 +0000 http://www.musur.net/what-are-the-advantages-of-loans/

For those who are public employees and need a loan, they can benefit from the loans disbursed by Uni Lender since the advantages are immediate and of great added value. The public employment (state employees and local authorities) who choose an Uni Lender loan can count and prefer this form of financing provided by the public pension institution as they can benefit from very affordable interest rates, which remain fixed for the duration of the time, never exceeding 5%.

Furthermore, subscribing to an Uni Lender loan does not involve the provision of any preliminary expenses and no brokerage fees by banks or financial companies: it is sufficient to present only the application form and await the outcome of the preliminary investigation. We see in this guide, in practice, the main advantages for the public employment in making use of Uni Lender loans .

Loans for public employment

Loans for public employment

” Public employment ” means the employment relationship employed by Public Administrations. Public administrations are defined as state administrations, regions, provinces, municipalities, mountain communities and their consortia and associations, university institutions, autonomous public housing institutions, chambers of commerce, industry, crafts, agriculture and their associations, non-economic national public bodies, companies and institutions of the national health service, non-economic national, regional and local public bodies, administrations, companies and bodies of the national health service, the Agency for the negotiation representation of public administrations and, finally, public agencies.

All categories of workers in the public sector can benefit from the loans granted by the Uni Lender ; funding can be granted to any public official or employee registered in the unified management for credit and social benefits , whose requirements are attributable to the following:

  • being in service at the time of requesting the opening of the financing
  • at least 4 years of service in the public sector at the time the loan is requested;
  • at least 2 years of service if they belong to the category of war disabled / disabled

The requirements and the contract are calculated based on the period of service of the public employee: if the applicant of the loan remains a lower period of service for retirement, the loan with a contract exceeding the time period may not be granted. between loan disbursement and retirement.

Benefits loans for public employment: contractual and economic conditions

Benefits loans for public employment: contractual and economic conditions

Needless to say, for the public sector it is advisable to apply for a loan only by contacting the social security institute Uni Lender as the loan can have a variable duration depending on the different financial needs and the customizable duration of amortization: from a five-year term (in in this case the amount must be repaid in 60 monthly installments) for a ten – year term (to be repaid in 120 monthly installments) and, in ceri cases, also ultra-twenty-year durations, especially for mortgages or loans with fairly large disbursed capital.

The amount to be reimbursed or the monthly payment cannot be higher than 1/5 of the salary or pension and an interest rate, a rate for administrative expenses and one for risk fund are applied to the benefit, according to the following values:

  • nominal annual interest rate of 3.50%;
  • administration costs: 0.50%.

As regards the risk fund premium , a distinction must be made:

  • for people with a retirement age up to 65, the risk premium is 1.50% for a 5-year multi-year loan contract and for the 10-year contract the risk premium is 3%;
  • for people with a retirement age above 65, the risk premium is 2% for multi-year loan contracts with a duration of 5 years and for the 10-year contract the risk premium is 4%.

It is easy to understand that for a public employee to take advantage of this form of loan translates into enormous cost savings, and this is where the attention must be most focused; not only, possibility of benefiting from the assignment of the fifth and the delegation of payment, use of the severance pay and of the pay slip as a guarantee to protect the credit as well as the possibility of taking out an insurance policy for accident, disability, sickness and death. Furthermore, brokerage costs are null and not burdensome, with the same loan contracted through the banking channel or other credit operators.

A practical example to understand the convenience of the credit product

A practical example to understand the convenience of the credit product

Here is a practical example that allows you to understand the motivation for which the Uni Lender loan for public employment is better than the proposals available from the banking channel or credit intermediaries. All things being equal, a public entity wishing to take out a two-year loan for an amount of 8000 euros would see a different scenario:

  • two-year Uni Lender loan : interest rate applied TAN 4.5%, administrative costs 0.5%, risk fund premium 0.6% (or 0.3% per year), APR excluding the risk fund premium 5.01 %
  • two-year loan available through the banking channel : TAN interest rate 6.25%, initial costs 16 euro, annual expenses 2 euro, APR 6.66%.

Practical example on the mortgage loan product: Uni Lender-banking system comparison or other credit intermediary

The comparison becomes more interesting when considering the mortgage loan product :

  • Uni Lender loan , duration 5 years, amount 50,000, fixed TAN 0.9% , administrative costs 0.5%
  • loan granted by the banking system or other credit intermediary , duration 5 years, amount 50,000 euros, fixed TAN 1.50% , preliminary investigation costs 600 euros, APR 2.17%.
]]>
http://www.musur.net/what-are-the-advantages-of-loans/feed/ 0
What We Need to Know About Money Loans http://www.musur.net/what-we-need-to-know-about-money-loans/ http://www.musur.net/what-we-need-to-know-about-money-loans/#respond Sat, 23 Mar 2019 05:16:33 +0000 http://www.musur.net/what-we-need-to-know-about-money-loans/

The loan is an activity that human beings have been doing since ancient times, even before the appearance of what we now know as money. With the passing of time, the way of obtaining loans has changed, especially with the emergence of technology, from there comes what we currently know as quick loans, being these loans, not a way to lose money, but rather a form of aid financial when they are put to good use.

Online loans have been imposed as a very important form of financing for our generation

Online loans

This is due to the technological evolution we have had in recent years. People who usually use this type of money loan, are mostly young people belonging to the millennial generation, whose ages range between 20 and 35 years, considered as digital natives.

Loans are increasingly present on the internet at this time where time flies by. People seek ease when solving their problems, especially in financial matters, so they look for ways to solve these difficulties through their mobile devices and that’s where fast loans are so attractive. This type of financial tool allows customers to save the presentation of unnecessary documents or have to answer long surveys, since they are loans without an endorsement.

Knowing this, today we will present the different loan options that currently exist:

Knowing this, today we will present the different loan options that currently exist:

Personal loans

Personal loans

Personal loans are a contract issued by a bank with which a financial amount is advanced to a person called borrower with the aim that this person who receives the money can return the amount borrowed in addition to previously defined interests.

Sometimes people often confuse the concepts of loans and credits, so it is important to know that they are two different concepts. Credits, unlike loans, imply that a limit is granted on the money requested, that is, the person does not ask for the amount he needs, that amount is defined by the banking entity that grants it.

It is important to know the necessary guarantees, usually personal loans do not ask for special guarantees more than the present and future assets of the people. What does this mean? That unlike other types of money loans, personal loans have guarantees established by the entity that grants them, therefore, in case the borrower fails to pay, it offers as collateral all present and future personal assets that it owns, regardless of the amount.

By having these guarantees, personal loans can be a risk when people do not know how to use them , since they often have higher interest rates, in addition to having less time to make their payments. However, those people who have good financial fluidity in the same bank that issues loans, are more likely to obtain loans with better conditions.

The requirements of the personal loans are defined by the one that issues the loan, which performs a financial evaluation of the people who require it to assess their ability to pay. It is a similar process to make a personal budget, where the monthly income of the person is evaluated and the way in which he has assumed other financial commitments, thus analyzing the payment terms of the person and in turn a valuation of the goods is elaborated. They serve as guarantees.

An important element in these loans is that the time of a personal loan is usually not longer than the time of the element that is being financed, so payments must be correctly defined and the loan will be short, medium or long term. . Many people consider this factor complicated to define, but it is important to take it into account, because if the payment term is longer, the lower the amount that must be paid monthly, but in the end it will end up paying more than expected because the interest rates they are progressively increased, that is why it is best to avoid personal loans that charge high payments for advance payments and previously define the fees that are within your possibilities to pay.

Among personal loans, it is important to know that there are various types that, as mentioned above, are defined by payment terms, however they are also defined according to who is granted, so in addition to personal loans, we have:

Loans for consumption

Loans for consumption

These loans are destined to durable goods, both material and immaterial, such as automobiles, furniture, appliances, travel, etc. One of the disadvantages of these loans is that interest rates are higher than market conditions, so it is best to quickly meet the payment terms, thus taking care of the debt, as this is one of the loans that most they cause over indebtedness in the clients.

Educational loans

Educational loans

They are not so common in some countries, but they are intended to finance school and higher education enrollments. These types of loans usually have lower interest rates than personal loans.

Mortgage loans

The people who request these loans put as guarantee of payment the real estate itself, which becomes part of the entity that makes the loan in case of default of payment by the borrower. The interest rates on these loans can be fixed, variable or mixed, all this depends on who makes the loan. They are fixed when the interest rate is maintained throughout the payment process, are variable when interest rates vary according to the conditions in which the market is located and are mixed when an initial period of fixed interest is established and when that period a mixed interest is established to make the payment.

Loans for SMEs

Loans for SMEs

The loans of money for companies are one of the alternatives to receive financing for the production, start of projects or make expansions. However, due to the difficulty of these loans, in our time the companies have looked for other alternatives that allow financing that is not only the loans made by the banks, it is there where the crowdfunding appears , which is a new model that Unlike loans, it deals with the collaborative support of companies to carry out projects together. This model arises in response to the crises of small and medium enterprises to obtain financing.

Loans granted to companies are defined according to the term, short-term loans are aimed at those companies that need money for production and have a flow of capital in and out. Medium and long-term loans are aimed at new companies and need capital to operate, normally this loan is used for machinery or tangible assets.

Online loans

Online loans

The way to borrow has changed exponentially. Currently technology and the Internet have had a great impact on financial platforms, the fall of traditional loans has given rise to a variety of online platforms in order to make quick loans and small amounts but in a simple way. Previously getting money loans was relatively easy, however, over time banks have become increasingly selective with their customers, which has made the request for bank loans not comfortable. In response to this, online loans have become an alternative that has become a very popular channel, since it solves a large part of the problems presented by banks when making these types of requests.

Online loans have many advantages, among them is the speed of the process, since with just filling some identification data you can make the request, having your credit or loan in less than 5 min. Mobile technology has been a differential factor in this area, since it is possible to request a loan online from your home or from any place where you have an Internet connection.

The limitation of these quick loans is that only small amounts can be ordered, however, this is not such a serious problem, since a large part of the amounts granted are sufficient to cover the common needs that people require.

In short, online loans are loans without collateral and are delivered immediately upon request to cover a specific need.

Cash loans

Fast cash payments are intended to make sudden or unexpected payments, such as fixing the car breakdown, a medical emergency, the payment of public services, etc. These loans have accessible interest rates, this means that if the person requires a few months to pay, the interest rate will not be exaggerated, because as we mentioned at the beginning of this paragraph, this type of loan has the privilege of Get cash quickly to realize the expenses.

Credit cards

Credit cards

Credit cards are an instrument granted by banking entities for their clients to carry out transactions with which they have the privilege of using an amount lent by the bank. Being a credit card, the amount of utility that customers can have is not defined by the same customer, but by the bank, which is progressively increasing.

Credit cards are short-term financing. Normally your payments must be made in a period of approximately 30 days, although these terms vary according to the financial entity. Some of these cards contain extra benefits such as travel insurance, shopping bonuses, among others.

These were some types of loans that we can make, it is necessary to know well their distinctions, since each one varies in elements such as: requirements, guarantees, interest rates and payment terms.

To finish, we want to give you some tips that you should keep in mind before applying for a loan:

To finish, we want to give you some tips that you should keep in mind before applying for a loan:

Do not ask for more than the necessary amount, as we mentioned in the previous paragraphs, when you ask for a loan of money, you will have to return it together with interest and commissions, which means that the amount borrowed is greater than the amount paid. For this reason, it is best to adjust as much as possible the amount you want to request in order to pay less interest.

Observe the annual equivalent rate (APR), when you apply for loans, you not only have to look at the guarantees and interests, you must also pay attention to the extra products offered as insurance and special bonds, so when you make the request, remember to check well the APR, which is the total cost of the requested loan where the commissions, expenses and interests are included.

Take care of the phrase “fast money”, it is very popular to see ads for online loans or quick loans that guarantee infinity of fast and safe benefits but in the end do not have any kind of guarantee. We must be very careful with these loans, verifying that they are within our possibilities of payment.

These were some tips that we must take into account when requesting any type of loan. People tend to sell loans as something bad and that can lead to debt and the financial crisis, however, this belief is a little extreme because all loans are defined by the use that is given. This means that both the person who receives a loan to finance their company or a personal asset and the entity that issues the loan, obtain a benefit from this, for which we can say that it is a healthy way of financing. The problem arises when the one who requests the money does not have the capacity to return it, so if we use the loans strategically, we will see good results, not of loss, but of investment.

]]>
http://www.musur.net/what-we-need-to-know-about-money-loans/feed/ 0