Payday loans bad credit -Payday advance online bad credit: Get Started Now

Payday advance online bad credit: Get Started Now 

Payday advance online for bad credit via Green Start helps us to raise capital at the moment that round amounts around 1,000 or 1,200 euros. We do not have to submit too many documents to hire them and the application process is very simple and fast. This makes them a very useful and accessible product to solve economic setbacks that require an immediate response.

Main features of the immediate microcredits

Main features of the immediate microcredits

This type of loans has very characteristic features that differentiate them from other loans. To contract these mini loans, we have to know what their pillars are. The most common characteristics of these loans are the following:

  1. Small amounts of money: microcredits instantly give us access to small amounts of capital. Generally, the maximum amount that we can get around 750 euros, but if we are new customers, the amounts are usually 300 euros maximum. In the case of customers already tend to have access to higher amounts, up to 1,200 euros.

  2. The maximum term for granting the capital is 15 minutes: when economic contingencies arise, we need a quick solution and with these loans we can cover these expenses in a matter of minutes, although we must value that some factors may delay the capital’s income.

  3. They are amortized in a short period of time: to reimburse the mini-credit instantly we have to collect the money to return it in a single payment and within a maximum period of 30 days. Although some lenders may allow us to extend this time with a certain cost.

  4. Completely online application: the entire process is carried out entirely through the Internet. The online management allows the process can be done easily and quickly since it does not require annoying face-to-face procedures or too many paperwork.

  5. For economic downturns: rapid microcredits are designed for a specific purpose such as covering expenses that arise at the last minute. The most common are to pay a fine, fix an item in the home that has broken down or get extra money on a lot of spending dates. It is not advisable to resort to these quick money products on a recurring basis, as we could enter into a spiral of debts, due to the cost and the term they have.

  6. Offers, promotions, and great advantages: currently it is very common for many private equity companies to launch offers for new clients of free microcredits. In this way, if we ask for a loan of 100 euros, we will only have to reimburse that specific amount, since no interest will be generated.

As we see, these points are clear and allow us to understand how this product is and what it is intended for, but it is advisable that we inform ourselves more in-depth about the quick mini-credits so that we can make sure that it is the best solution for our lack of liquidity.

Advantages of quick microloans

Advantages of quick micro loans

The virtues of these credits have turned them into a very appropriate financial resource to solve economic setbacks, for that reason, we are going to present next the main advantages of which we will be able to enjoy if we decide to hire them:

  1. Speed: the rapid microloans, as the name indicates, are the credits of the sector that offers more speed in your service. This rapidity occurs, first, in the response to our request, which is usually immediate. In addition, once they have given the green light to our request, they will proceed to transfer the money and we will receive it in a maximum of 15 minutes.

    • This speed is possible thanks to technological systems integrated in their processes and on which their business model is based. The systems we are talking about are Instantor or Kontomatik, among others, that allow you to verify the information automatically.

  2. Flexibility: generally, the demands of the lenders are not very strict. However, that does not mean that we do not have to meet the requirements they request. Companies that market quick mini-credits admit profiles that are not usually accepted by other types of lenders.

  3. Admit extensions : if we see that we are not going to get the money to make the reimbursement on the agreed date, we can extend the term. If you grant us an extension, we have to think that during the days that allow us to postpone the payment will generate more interest, so it is important that we assess whether it is a good option or if it is better to renegotiate the payment schedule with the entity.

  4. Comfort: processing a request for a quick micro loan is very simple and does not take us long, so most of them are carried out during the week and during working hours. We simply have to go to the lender’s website to fill out your online form with the amount and time that we want.

  5. Accessibility: Microloans are instantly products with more flexible requirements, as we have already mentioned. This means that they give the option of accessing their loans to people with more risky profiles such as clients with outstanding debts that appear in delinquency records.

These are the main advantages of microcredit instantly, as we see the most outstanding are the speed and simplicity of their service. These strengths have made mini-credits a possible solution in the face of economic uncertainties, since whenever we use them with heads, they are useful products.

Who offers the best fast micro loan in the market?

Who offers the best fast micro loan in the market?

The big difference with the loans of the banks, these companies are able to offer a very fast service and also, they do not put hardly any requirements. This allows most people to access the financing offered by these lenders and can get these urgent micro-credits.

The offers destined for new clients usually go focused to obtain free money, that is to say, without having to face interests or additional costs. This type of offers can be interesting if we are new clients, because we will only have to return the money without having to pay an extra euro, which facilitates making the payment within the agreed term.

We also have to think that these microcredits must be repaid immediately within a maximum period of 30 days and, therefore, these loans should not be seen as a solution to be resorted to regularly, as they could cause problems of indebtedness serious if we do not comply with payments on time.

Profile apt to contract microcredits instantly

Profile apt to contract microcredits instantly

Immediate microcredits are popular, among other things, for not requiring too many requirements, which facilitates access to many different customer profiles. However, that their demands are not strict does not mean that we should not comply with all of them.

Some entities are stricter than others when it comes to requiring a series of conditions from their clients. However, the majority requires compliance with common points to all of them, such as the fact of having a constant and demonstrable income through a payroll, a pension, a scholarship, a benefit…

In addition to income, age and nationality are two other factors that will require us. Generally, we must be older, but in some cases we will be asked to be 21 or 25 years old. Anyway, there are some private equity companies that launch the same microcredit instantly for people who are on a delinquency list.

Advantages and disadvantages of microcredits at the moment

Advantages and disadvantages of microcredits at the moment

In order to check if these mini quick loans are the best option to solve our liquidity problems, we will see below a review of the main pros and cons of personal microcredit. In this way, it is easier to assess if contracting a microcredit instantly is a possibility that suits us:

Pros

  • They just demand requirements

  • You can get it in minutes

  • Accessible for different profiles

  • Application available 24/7

Cons

  • They do not give access to large quantities

  • The cost is high (1.1% daily)

  • Risk of over-indebtedness

  • Refund in 30 days maximum

It is about that we only resort to them to cover the purpose for which they are designed, that is, if an economic setback arises to which we can not face yes that could be of help. If we know all the characteristics of these loans and we give them a responsible use, we do not have to have any problems.

Basic steps to request quick micro-credits

Basic steps to request quick micro-credits

The steps to follow to request microcredits instantly are very simple. Each lender will have a web form, but in all the procedure is just as simple. Let’s see what path we have to take to get the money we need:

  1. Choose the amount and the term: first we have to choose the amount of money we need and the term in which we want to make the return. This is processed from the loan simulators that we find on the web of private lenders and that allow us to check how much interest will be generated and the final cost to be disbursed.

  2. Fill in the form: the fields to fill out the application are very few. Normally we will have to enter our personal, labor and banking information so that the lender can carry out the analysis of our request.

  3. Send the documentation: subsequently, we must send the documentation that the private equity company tells us through our email, which will help them to verify that we comply with the established requirements.

  4. Sign the contract: if you grant us the mini loan, you will be sent the contract. If it gives us the green light, we must read it carefully, sign and send it again.

So that the contracting of the urgent loans becomes effective, it is necessary that we send the signed contract, after the lender has given the green light to our request. Without signing the contract, it is not considered that it has been officially contracted and will not be binding at any time.

How long will it take for our microcredit to arrive instantly?

How long will it take for our microcredit to arrive instantly?

The speed in which they respond to our request and in which they make us the transfer has been a key factor in the success of the minicréditos instantly. This speed can be given thanks to the application analysis systems that integrate private equity companies in their service. Thanks to these new technologies we can obtain the money that we have requested in a maximum of 15 minutes.

However, this will depend on where we have the current account and if the lender has an account in the same entity, since transfers between different banks can take up to 48 hours. In these cases, the income will be delayed up to two business days, but let’s see how the time of the request could influence the income of the capital:

  • If we request a mini credit online on a Monday morning and have an account at the same bank, the capital will arrive that same Monday.

  • If we request microloans on a Friday morning and do not have an account in the same entity, we will receive the deposit on Saturday.

  • If, on the contrary, we ask for it on a Friday night and we do not have the account in the entity with which the lender works, the money will be delayed up to 48 hours. In this way, the capital will be received on Tuesday.

We currently have formulas in the market to avoid this type of inconvenience, such as HalCash or Trustly. These platforms work with the banks that are attached to them, which can exchange operations more easily.

How to get your mini loan even faster?

How to get your mini loan even faster?

People who resort to these financing products do so because they need to receive the money in just a few minutes and do not want to waste time on paperwork and procedures. That is why the lenders of urgent minicréditos have been incorporating, over the past years, various technological innovations that have allowed them to further reduce the response time and transfer. Let’s see how we can take advantage of the new tools to obtain liquidity practically at the moment:

  • Use a verification system to avoid having to send documentation. Many of the private capital companies give us the possibility to use systems such as Instantor or Pich that are identity authentication tools that make the whole process of analyzing our application much faster and more convenient, especially for the lender. But this way we can also have an answer with greater speed. These systems allow that we do not have to present any document. The operation of these systems is simple: we only have to enter the access data of our online banking so that the lender can consult our financial information (monthly income, recurring expenses, ownership of the account, etc.) and verify that the data provided in the form they are true.

  • Go to a company that collaborates with our bank. It is advisable that before choosing the company to which we will turn to obtain liquidity, we will check with which banking entities they work to make sure that the transfer will not be delayed. Another option is that we request financing from lenders who use Hal-Cash or Trustly, tools that allow these companies to instantly deposit their customers.

If we want to know what other factors depend on the speed of granting the quick micro loans, we recommend downloading Adam Bede’s free guide “When will your mini-credit money arrive?”, in which we will find which banks work with the main lenders and we will see who we should go depending on which is our bank.

Do you need money urgently and do not know how long it will take? Discover how to get the money in your account in minutes

With the new Adam Bede free guide you will learn:

  • Why your mini credit can take between minutes and days to transfer the money
  • On what bank transfers depend
  • How long will the money be depending on your bank
  • How to make the money from your mini credit arrive immediately

Give us your e-mail and we will send you completely free the guide prepared by the experts of Adam Bede on all the tricks you must know so that the money transfer of your mini credit is immediate.

The technology applied in the mini loans instantly

The technology applied in the mini loans instantly

The microcredits have triumphed instantly thanks especially to the speed at which they grant the money we request. This speed can be produced by the technological innovations that integrate into their service and that have been developed by fintech companies.

These companies have developed technologies and systems with which they can improve the service offered to the customer. Among its innovations are the automatic identity verification systems that allow to streamline the processes of analysis of applications.

With this technology, the company can access the information of the client who has requested microcredits without endorsement to verify that their data is true and that it meets the minimum requirements. In this way, the lender will be able to quickly study our personal and banking data to decide whether to grant the loan or not and we will not have to wait for our micro-loan instantly for hours.

Personal Loan Rates for Getting Cash

The personal loan without a doubt is in the lives of most Brazilians. Whether you want it or not, it’s difficult not to compromise. The only way for you not to use the resources provided through a loan is to take the extra money earned from work such as: vacation, thirteenth or bonus in company profits (some employers share with their employees) or save money saving over time to buy at sight, otherwise surely making a loan is the most appropriate solution.

In Brazil, getting cash resources or financing consumer goods is getting more and more accessible, buying a car, getting a real estate financing, renovating, building, changing the furniture of the house or even financing a dream trip is possible with money loan with interest rates slightly lower. Just as there are several banks and financial institutions, in the market we find different lines and modalities of credit for loan, knowing the differences between one and the other can make the difference when hiring rates. With that making the right decision, knowing the institution and which type of loan is most advantageous, helps to spare a little money in the pocket.

AUTO loan

AUTO loan

This type of loan is used exclusively for the financing of new and used vehicles (automobiles and utilities), national or imported. The interest rate is usually fixed and the payment of installments is monthly, equal and successive until the end of the contract. To finance a car, the car loan is ideal. The charges are: interest rate, TARC and IOF and accrued interest, if any. On the website of the Northern Bank up to 5th place, the minimum rate is 0.99%.

Property Purchase

Property Purchase

The interest rate on real estate financing has slowed in recent months, the repayment period has gone from 30 to 35 years (420 months) since 2012, thanks to a maneuver of the savings bank. In the 4 largest banks, the average interest rate is around 0.86%.

Revolving credit

Revolving credit

Credit cards are famous for three differentials: ease of use, high interest rates and defaulting champion. Currently the rates of the revolving credit is from 13.69% to 18%. Interest rates vary from flag and brand of card, since the criteria for charging the rates of the rotary is not established by the Northern Bank (BC), each administrator applies the rate he thinks best.

Other loans

Other loans

To inquire about the Overcharge, Credit Limit, Pre-Approved Loan and Miscellaneous Financing rates, you would have to do a thorough research. It is worth mentioning that banks and financiers apply rates according to the rating or relationship of the client. If you are looking for a loan, the only way to ensure the best solution is to compare directly to the institutions of your choice in your city.

What are payday loans?

Do you know what payday loans are? This is a very expensive form of borrowing that is best avoided. Here’s why…
Do you evaluate borrowing opportunities and ask yourself what are payday loans? According to the Financial Consumer Agency of Canada (FCAC), a payday loan is a short-term loan, usually for a period of 14 days, which you agree to pay when you receive your next pay.

These loans allow you to borrow between 30 and 50% of your take home pay and they are contracted from private companies that usually require proof that you have a regular income, a bank account and a permanent address. The lender will have you sign a contract specifying the costs, the various fees, the interest rate and the due date. Reimbursement is by post-dated check or pre-authorized debit (direct withdrawal from your bank account).

Make sure you can repay

Make sure you can repay

Be sure to borrow an amount that you can repay: if you can not repay on the due date, you will have additional fees to pay and interest will continue to accrue on your loan. To recover the money you owe it, the lender can turn to a collection agency, and you could even find yourself in court. If you often have trouble making ends meet, the form of borrowing payday loans should not be an option: it’s better to hire a credit counselor to help you find the best possible solution. solve your money problems.

Use payday loan only as a last resort

Use payday loan only as a last resort

Payday loans are a very expensive way to borrow. Indeed, interest rates are very high: according to FCAC, in January 2012, a loan of $ 100 for two weeks cost $ 25 in Nova Scotia, which would correspond to an annual interest rate of $ 650. %! So you have every interest in trying to find other solutions, such as borrowing money from a loved one, asking for an advance on your salary, or postpone some purchases until later.

Also check with your financial institution if you qualify for another form of loan: line of credit, overdraft protection or cash advance. These forms of borrowing have much lower fees and interest rates than payday loans.

Learn about your rights

Learn about your rights

You now know what payday loans are. However, before signing up for one, check with your local consumer information office for your rights and the rules that lenders must follow. Some provinces (Alberta, British Columbia, Manitoba, New Brunswick, Nova Scotia, Ontario, Quebec, Saskatchewan) regulate payday loans. In particular, they established the maximum cost of payday loans and the maximum penalty for returned checks or pre-authorized debit declined (amounts vary from province to province). They also provide a cooling off period (one or two days) during which the loan can be canceled without charge.

Is There An Easy Way To Get Money With Loan

Which way is easier and how to get money with loans ? Depending on the situation of the applicant, it can be a very embarrassing situation, especially if the citizen has problems with financial restrictions, unpaid debts with banking institutions or a name registered in SPC Brazil, FineCheck Experian. So the question remains, is there a formula for facilitating a “personal loan application” to “borrow money”?

Financial failure

Financial failure

When the individual or family financial system collapses with banks and creditor companies, borrowing money from people close to them is still the best way to get money without bureaucracy. Family and friends depending on the level of proximity can be an extremely efficient alternative.

The big problem of personal loans with family members, relatives or friends is the fact of credibility, moreover nobody today likes to expose their financial weaknesses, failure in finances or lack of money because of indiscipline in dealing with income.

Easy loan risks

Easy loan risks

Are there risks in personal loan to get money borrowed from friends and relatives? There is yes, this is even the biggest fear of who lends money . Although the loan between family members does not have interest rates, charges, fines and all the processes of a conventional loan, many borrowers put the lender into debt situations if the repayment is not made as agreed.

Personal loan complications

Personal loan complications

When “borrowed money” is not repaid, the worst that can happen is the indisposition between the lender and the borrower, in which case a hostility is almost always generated due to non-compliance. It is worth remembering that the lender many times do not have much money, the resources that have been released just for consideration, are part of monthly budgets or resources saved for some time for emergencies.

Money lent between person and family

Money lent between person and family

Repayment of borrowed money is the most sensitive factor in this type of borrowing money between family members. How to get rid of insolvency or default in this form of credit? Form a contract or simplified term informing the values, deadlines and mainly the signature of the lender confirming the request of the money lent.

Another way is to ask for the signature on a promissory note, in case something goes wrong, just protest the title. With these simple methods, the familiar lender puts a little discipline on the transaction, avoiding at least 50% the chances of not receiving for the money.

Other Ways to Get Easy Money

Other Ways to Get Easy Money

In Brazil the social loan is not yet a formalized operation, but it is possible with little demand to find ads in online classifieds, websites and companies providing this type of loan, besides the social loan, make the collective loan, including money.

Social and collective loans are viable solutions for those who need loans, the problem is trust, there are many mockers in the network, to get rid of it is necessary to be very careful not to participate in predatory lending schemes, illegal loans or bad loans.

The Peer to Peer Loans

The Peer to Peer Loans

Not that it’s easy but that’s easy. Peer to peer is a form of loan where one person lends money to another without the intermediation of a bank or institution and investors can use their money to profit by borrowing with low interest and stable profitability. In peer-to-peer loans, also called social loans, between people or P2P loans, are one of the highlights of entrepreneurs in the new economy and have changed the way one takes personal and business credit.

Continue accessing the blog, what is not lacking here are relevant information on everything that happens in Brazil related and credit and loans, see also the most comprehensive guide on online personal loan and collaborative loan platforms.

Benefit and Employee Salary Loan

Loan! Who does not need them?

Loan! Who does not need them?

There are few people who are economically active who have not yet taken out a personal loan or do not use any form of credit on a day to day basis. All kinds of people can get the benefits of personal loan: employees of private companies who are generally salaried, those who receive retirement and government pension can also borrow money with very low cost and military and civil servants.

The benefit loan and salary loan is best known as popularly called “payroll,” the operation is ideal for salaried employees, retirees and pensioners of the INSS and for those who work in the public sector in general. The collateral that the lender has in this credit transaction is the convenient and practical discount made automatically by the payer, every month for the duration of the loan agreement.

Who is it for?

Who is it for?

If you are retired and pensioner, have permanent employment in a private company or are civil servants or civil servants, you can easily access the payroll offered by more than sixty banks and financial institutions in Brazil. The loan or benefit loan transaction is actually one of the best alternatives to get money financed , the installments are retained by the paying agency or company and discounted in the salary, retirement or pension of the contractor.

Term of the loan

Term of the loan

The installments are fixed and monthly, ie the value of the installments is the same and do not change from the beginning to the end of the loan, the term of this type of loan is flexible, interest as well. The borrower can contract from 6 installments up to a maximum of 60 installments in the benefit, with a discount on the salary the term varies according to the agreed upon between the company and the lender, already in the functionalism the term begins on 6, 12, 24, 36, 48, 60, 72 and up to 84 plots. The commitment can not exceed 30%, but it is possible to find public bodies that consider compromising up to 40% with MTS.

There are also cases where even temporary workers with fixed-term contract or commissioned employee can apply for the loan on salary. The loan application is based on the duration of the employment contract.

Values ​​Released

Values ​​Released

In general the amount released in the loan operation are about 6 to 12 times the amount of the monthly benefit or income. In the case of retirees and pensioners, the loan must be repaid in full until the eighty-fifth year and 6 months of the contractor (85.6 months), but also changes from bank to bank, in some the term may be shorter, up to 79 years.

Applying for a loan or salary loan in banks, finance and credit unions has become very easy thanks to the lack of red tape in the concession, it is enough to have retirement that allows the discount, to be a worker in a CLT scheme or civil servant of the civil area or military, these are virtually the only requirements and guarantees required by creditor institutions.

The private or public agency employer makes payment to the creditor every month directly to the institution, after deducting the amount of the contractor’s (borrower) portion. In this way, even those who have the negative name in the SPC or Serasa who are normally excluded from access to credit, can contract the consignment without problems.

In some cases the lender demands differentiated conditions for the grant: it requires you to obtain in signing the loan from a credit protection insurance policy to protect the applicant and his family in case of loss of employment or death of the borrower and the hated “peculum “During the loan period. It is possible to make the total settlement in advance.

Personal Loan for Negative Online

By whatsapp, apps on mobile… actually the trade of personal loan and financing is changing the whole credit scenario online. It is with name, with dirty name, negative, without consultation, with or without It consulting company, liberal or salaried, no matter the condition or profile – you can get a loan even negative and online. This means that anyone who wants to get a personal loan has more options.

I do not know yet if personal loan is a blessing and a big burden – who got into debt is who should know well how it is. Well, anyway, the blessing is that it is much easier to make a loan application now that there are dozens of lenders and many credit intermediaries who are willing to lend money for you to do what you want without worrying about factors like: dirty name, bad credit and low credit score.

But personal loan is also a burden, because that today you see dozens of sites and online stores, advertising, advertisements and commercials lending money to all kinds of people, does not mean that people have money left but they are needing more and more. more and that the way out for them is to take out a loan.

Moved by the will to eat with the facilities of finding the dish ready at the table, requesting a loan even without being able to pay or pay with difficulty, may in the future become a great burden in the personal life or an entire family.

Loan Comparison Sites

To help in choosing banks and interest rates, the loan comparison websites do all the work for you. The requester only has the job of filling in the data correctly, that in five or more minutes the response arrives in the email or whatsaap with five or more hot proposals.
Are such site comparisons worth it? Yes, of course, you save a lot of time and if you do a good loan, it will save a lot of money in your pocket. Under the heading of ” Personal Loan for Online Negative “, there are dozens of banks offering this modality with low interest rates and very favorable conditions. However, as I always heard my grandfather say, “Know beforehand what you’re going to do.”

How to get a personal loan?

If that is your question you are in the right place. There are many reasons why a personal loan may seem the right way. If you have a high-value medical expense, outstanding debts on the credit card with expensive interest, hit the car and had no insurance or you want to put all the debt together into one. A personal loan can be a good balance of accounts.

How Do Personal Loans Work?

Applying for a personal loan is not what it used to be. In years past, lenders wanted to meet you in person, know about your credit history, your profile, view your tax returns, pay stubs, and get more details about your employment before deciding whether you should have the loan released or not. In many respects, it is easier to obtain a personal loan today than in the era of the shops, cooperatives and traditional banks dominated the financial system and the sale of personal loans.

Personal loan in all modalities can vary as to the amount released and terms for repayment. Some loan terms can last for years while others like:

1 – Loan with loan sharks: 30 days
2 – Loan at bank limit: up to 10 days
3 – Credit card loan: up to 40 days
4 – Pre-dated check: 30 days
5 – Promissory notes: as combined
6 – Student Loan: After graduation
7 – Housing loan: up to 35 years
8 – Cash Paid: up to 180 days

Other forms of personal loans, start with a high portion and end with a smaller installment, and unlike it as well. One more detail… The monthly interest payment will depend on the term of the loan and some lenders offer lower interest rates with longer terms or the type of collateral involved in the loan like us: secured home loan or vehicle warranty.

A good personal loan calculator can tell you if it is cheaper in the long run to choose the lowest interest rate with the long term or the highest interest rate with the shortest term.

Bad credit and dirty name

Bad credit and dirty name

If you have some time before you need a loan, it is a good idea, and consult It consulting company to know about your credit score before applying for a loan. If your credit score is low or non-existent, you will not be able to apply for a personal loan at a traditional bank.

But if you are a private company employee who makes payroll payroll loans, you will have no problem getting the money you need. Also military, public servants and retirees and pensioners of the INSS, that is, even with dirty name a person gets the known – loan to negative online with dirty name.

Personal loan stores

Personal loan stores

Want to have an approved loan? This is not difficult or time-consuming, but you have to know how to look. Always think first, “I need a loan” if you really do not have the time to do a lot of research, loan simulations online and ask questions until you get the best deal.

” You get relatively affordable loans through online lenders and peer-to-peer lending sites.”

Conclusion : To qualify for a personal loan from a traditional lender, you need to have a good to excellent credit. If you want to get a loan to negative online even with restriction, ask for a payroll, with moneylender, or in crefisa personal loan. Other form would be the loans with property guarantee and vehicle warranty. Success!

Missouri payday loans online -Bad credit payday loan guaranteed approval

In itself, a cheap loan is always the better choice, as it really brings a financial advantage compared to other offers. But too much fine print often obscures the focus on the essentials and the advertising of individual credit providers is too tempting. Those who do not thoroughly study the respective offers will sometimes experience a nasty surprise. A quick and objective overview of bad credit payday loans guaranteed approval offers comparison portals on the Internet- useful reference. 

Bad credit payday loans guaranteed approval: Stock up on cash you need 

 

A cheap loan is clearly defined by low interest rates. However, it is important to penetrate deeper into the matter, because interest is not equal to interest. Although fees for credit processing and credit checks may not be offset since 2014, there are still costs that are included in the calculation. The main cost factor is the interest. The nominal or nominal interest rate depends on the market situation, on the respective terms negotiated and on the solvency of the customer. There are both loans with a fixed and fixed borrowing rate available. Any deductions, as well as the repayment terms, also have a significant impact on the calculation. In addition to the debt interest, the consumer contracts therefore also show the effective annual interest. This APR defines direct credit costs in percentages and per year. This makes the comparison much easier. If the cost-determining factors and the interest rate change over the term, the initial annual percentage rate of charge is stated.

Caution additional costs!

With a larger loan, it is often customary to demand a discount, the so-called discount. In this case, the credit institution reserves the right to withhold a certain percentage of the full loan amount. The discount is an interest prepayment, which later reduces the payment burden. It is important to pay attention to the additional credit costs. The indirect additional costs do not necessarily have to be preserved in the comments on the effective interest rate, but they are included in the consumer contracts, which should, therefore, be read carefully. These include, for example, account maintenance fees or provision interest. Remaining debt insurance also belongs in the category of additional costs. These insurance policies serve to secure loans and loans.

If residual debt insurance is required by the lender, then he must show the costs for this with the effective annual interest. Residual debt insurance is customary in particular for credit without a credit check or generally for real estate loans. If the insurance is taken out voluntarily, it is worthwhile taking out a direct contract with the insurer, as many banks require additional commissions for this purpose.