Monthly Archives: December 2018

Close civil servant loans? That saves you a lot of money as a civil servant

They can choose the very best for a special civil servant loan. More information about this special loan for civil servants can be found below.

 What is an official loan?

What is an official loan?

But now the question: What is an official loan? This is a new type of loan which is to include can close. ‘Among other things’. Because several Dutch lenders advertise with this. Only civil servants can borrow money with this special loan application.

What is the advantage of such specific officials financing?

That is a good question. Why should you apply for an official loan as an official ? What makes this financing different from any other? Now you should know that an official loan does not essentially differ much from regular loans, loans that anyone can take out. The civil servant loan is therefore simply a personal loan or a revolving credit.

The public funding is useful for any civil servant who is looking for a cheaper loan. These loans are therefore cheaper and, as an official, you can borrow money at much more favorable conditions.

Why are officials nominated by lenders?

Or you can speak of pretense, that is of course the question. However, it is a fact that civil servants (in general) offer more security for a bank. They are often certain of their jobs and all kinds of studies show that civil servants are very reliable payers. This means that they have a better payment morale than average.

Banks are happy to lend money to this group of workers. A credit intermediary such as responds to this. They only deal with loan applications from officials. For this they work together with a number of lenders . The partners of civil servants are also entitled to this loan. And the same applies to semi-civil servants.

Various types of civil servant loans for civil servants

As we have already mentioned above, officials have built up a very good reputation with banks and credit providers. They usually pay their loyalty loyalty and have a high job guarantee.

Because lenders are less at risk when lending to officials, they charge less or no risk storage. This means that the official can borrow money at a lower interest rate. That is why government loans are generally much cheaper. There are different types of civil servant loans for civil servants.

You can apply for this in the form of a personal loan or revolving credit from a specialized lender such as . But also with other credit providers such as Freo, Frisia, VDZ, Credit competitor and so on.

The personal loan (PL)

The personal loan , also abbreviated with ‘PL’, is one of the most popular forms of lending in the Netherlands. You can determine the loan amount yourself and you opt for a fixed term. Even before the end date has elapsed, you can pay off the loan.

The advantage of this loan is that the interest is fixed. Because this does not change, you always pay a fixed monthly amount of repayment and interest. This is called a monthly term. As a civil servant you can usually borrow up to 75,000 euros with a personal loan. A term of up to 120 months is the maximum.

Nowadays you are free to pay extra money without penalty. The personal loan is a reliable loan. You know what you are signing for. The interest rate does not change during the term and you will be guaranteed to redeem!

The revolving credit (DK)

The revolving credit is a consumer credit that can go on indefinitely. This means that you can always withdraw the redeemed amounts. Officials opt for the personal loan more often than for the revolving credit.

Incidentally, the continuous credit is also being requested less frequently by ‘regular employees’. But that aside … You also choose a loan amount with this credit. You will not be credited this amount to your account in one go. You can use a credit limit. This means that you can pick up parts of it when it suits you.

You pay interest only on the amount you withdraw. You will pay off part of a monthly amount, but you have the freedom to reinstate redeemed amounts. It can therefore be difficult to fully repay the debt for a certain end date. A disadvantage is also that interest can vary. The bank uses a variable interest rate.

Therefore borrowing money with a revolving credit can become more expensive over time.

You are a civil servant? Lucky you! You can borrow cheaper money …

As an official you are extra cheap with a special official loan. This is because banks calculate a higher interest rate for consumers who do not pay off their credit on time. Civil servants, on the other hand, are known as loyal payers. Because they have a better payment mentality than average, banks charge less or no risk storage. Your interest rate is therefore ‘storage free’. Lucky you!

Benefits of civil servant loans:

  • Faster acceptance by the lender.
  • Favorable loan conditions.
  • Borrow money because you are not a risk case.

Cons:

  • Only suitable for civil servants (and their partners) and semi-civil servants.
  • The conditions can change during the term if you are no longer an official.

Loan conditions for civil servants

Do you work in the public sector? Then you are eligible for the civil servant loan. Do you work with the government, the province or the municipality as a municipal official? Then you can borrow cheaper money with a loan for civil servants.

This also applies to civil servants who work at the police, the water board, in education or as employees in healthcare. Civil servant partners can also apply for an official credit. Most (semi-) civil servants take out their loan via .

Guide to online loans

In the field of online loans, the market currently has several perspectives.

 In general, as regards a loan, of any type, it is necessary to analyze the so-called risk policies:

Faced with a wide range of products, provided by numerous financial interlocutors, the consumer has to examine the greatest possible number of offers, to identify the conditions most suited to their needs.

In general, as regards a loan, of any type, it is necessary to analyze the so-called risk policies:

Being a product by its own risky nature for the body that grants it, there are binding parameters that make it inclined to grant the loan and that vary from one company to another. The most relevant factors that are evaluated are:

the amount of the loan requested (normally for a sum higher than 7,500 euros it is necessary to provide more guarantees)
income level of the customer (a loan of more than 7,500 euros can be granted only if a certain ratio is observed between the installment established and the income of the interested party)
creditworthiness of the applicant (assessed on the basis of his past in the financial field or previous insolvency).

The main elements to be taken into consideration when signing a loan agreement are the TAN (nominal annual rate); the APR (global effective rate); the costs of the preliminary investigation, the collection of installments and the sending of an account statement; insurance coverage; any early termination penalty.

Credit or financial agencies are authorized to provide capital in exchange for paying interest on the loaned money. Banks are the place for granting funding, but often require uncompetitive conditions and interests compared to other specialized bodies. However, for mortgages customers usually turn to the banks themselves, because they are judged to be more reliable, while for loans they prefer small agencies which, being subject to lower costs, offer more favorable conditions: there are numerous agencies specialized in personal loans that they can help.

Where to apply for a personal loan: advantages and disadvantages

Requesting a personal loan carries an important responsibility.

 Pros and cons of the personal loan

And this is because a debt is contracted with a financial institution, and we must be in a position to face it once the term expires. Therefore, before applying for a personal loan, we must know what are the options we have, and what are its advantages and disadvantages:

Pros and cons of the personal loan

Bank entities

  • Advantages: The best thing about requesting a personal loan from a bank is that we can get much larger amounts of money. We would be talking, for example, mortgages or credits to buy a car.
  • Disadvantages: First, the obstacles and obstacles that hinder obtaining the loan, starting with guarantees such as payroll, endorsements and others and ending with the amount of paperwork that is necessary before the loan is granted.

Public bodies and groups of investors

  • Advantages: In the case of public bodies, they usually offer a somewhat lower interest rate. On the other hand, private entities offer a greater margin of negotiation.
  • Disadvantages: As when applying for a personal loan through a bank, the main drawback is the amount of paperwork to access the credit, which is a great slowness when granting the loan.

Quick personal loan entities

  • Advantages: If what we need are small amounts of money, they have many more advantages than the other options. Among them we find the speed both when granting the credit and when returning it, especially if it is a personal loan over the Internet, or the absence of paperwork, since in the case , no payrolls or endorsements are required, only the DNI .
  • Disadvantages: The main drawback is that the amounts of money in fast personal loans are usually much lower than those offered by a bank.

Now that you know all the pros and cons of the various lenders to apply for a personal loan you will not go wrong in getting your credit.

Existing loans

All types of loans existing today.

All types of loans existing today.

Finalized or not, the loans differ by various factors such as the sum disbursed, guarantees requested by the lender, credit history of the applicant, destination of the credit, personalization of the repayment and possibility of obtaining concurrent loans.
There are several categories of loans dedicated to individual consumers; to be able to use it, you must be employed (private, public, state) with a fixed-term contract, or self-employed and have a life insurance policy. Retired people and companies can also make use of these services which, in particular, are:

Personal loans (not finalized): loans not subordinated to the purchase of a specific good or service; the sum is paid directly to the contractor.

Revolving credit : financing for the purchase of goods and / or services, which belongs to the type of consumer credit . It usually provides for the use of a credit card at shops affiliated with the issuing company. Alternatively, you can request a sum of money directly from the relevant financial institution.

Installment financing : generally required by a reseller of goods or services and repayable through installments over time (the seller, in addition to the purchase price, receives a commission for the loans granted).

Assignment of the fifth : guaranteed loan method that provides for reimbursement through monthly fixed installments held directly on the paycheck or pension of the applicant, this amount can not be higher than the fifth part of the salary or the pension itself valued net of withholdings.

Loans to employees : required by all those who have a subordinate employment contract, they are one of the most requested types of financing in our country. Employee loan conditions are particularly advantageous due to the instant guarantees an employee can provide to the financial institution (the salary and the amount of severance pay). They are granted without particular problems even to bad payers and protestors.

Extra transfer and voluntary assignment (without payroll deductions): allow permanent employees of medium-sized private companies to obtain higher amounts than the aforementioned methods.

Delegation of payment (Double fifth) : reserved for public employees, can be combined with the assignment of the fifth and allows to obtain an amount equal to 40% of the salary.

Debt consolidation : through this type of credit, currently in great demand, it is possible to obtain a loan or a mortgage in order to settle other loans in progress; it is useful, if more concurrent loans are active, to combine all the installments into a single solution, lowering the total interest rate.

Small loan : granted to INPDAP public employees up to a maximum of 10,329.14 euros; workers who receive a fixed and continuous monthly salary, enrolled in the “Autonomous Unit Management of credit and social services” are entitled to this loan.

Guaranteed multi-year loans : this is a INPDAP guarantee for loans against certain risks: reduction of the transferor’s salary, termination of service without pension entitlement, death of the member before the assignment is extinguished.

Inpdap loans : solutions granted to employees and retired former INPDAP (now INPS), are characterized by very advantageous and engaging financing conditions. Granted by the method of assignment of the fifth, they are repaid by deduction of the installment from the net salary or the net pension. Since the INPDAP institution took care of the pension management of state employees, when it comes to ex-INPDAP loans it usually refers to solutions designed for employees and retirees in the public sector.

Loan : the payment of installments through bills of exchange allows all employees of private companies to obtain financing without deductions even in the presence of previous credit problems.
Loan on policy : allows the customer to benefit from a loan by providing the guarantee value of the redemption of their life insurance policy.

Financing purchase of cars, motorcycles and mechanical vehicles : offered by many dealers to facilitate the purchase of cars, motorcycles, agricultural and mechanical vehicles in general (new or used).
Mortgage loan: with long-term interest, for the purchase, construction or renovation of one’s own home or another real estate unit.

Advances on invoices and contracts : a system to release receivables and put money back more quickly in the economic flow, profitable for activities involving very short-term collections.

Periodic receivables : credit method requested by a customer in favor of third parties in case of temporary transfer of a person to another place, also useful for companies with the need to finance employees abroad for work reasons without materially moving the money.

Evergreen : with this type of credit, a company can have pre-established capital up to the revocation of the parts (company-customer and provider).

Factoring : contract through which a company transfers, in whole or in part, its receivables to a company that anticipates and sometimes ensures payment on commission.
Hot money financing : type of loan suitable for medium-sized companies with an immediate credit need.

Stand by : a financial allows the repeated use over time of a soft loan agreement by a medium-sized company with a constant need for credit over time.

How long it takes to get a quick loan

Quick loans , as their own name indicates, are characterized by the immediacy with which it is possible to get the money that is needed to get out of a certain hurry.

 Quick loans, money in a matter of minutes

But … what is really the period in which you can have the cash after starting to apply for an urgent loan? Are certain ads that ensure that the loan can be obtained in a matter of minutes? The answer to this last question is brief and concise: yes.

Quick loans, money in a matter of minutes

But analyzing in depth the term of time that a quick loans supposes, the approximate breakdown of the process of requesting an express loan would be the following one:

  • First phase: enter the data of the application. During the first phase of the request for a quick loans you must specify the amount of money that is needed, the time period in which you want to return the money and you have to fill in the personal data. This process does not usually take more than 10-15 minutes.
  • Second phase: receive the approval or denial of the loan. The second phase is the most important of all, since it is the one that decides whether the user is valid or not to receive the borrowed money he has requested. The period of time of this phase depends on the lender agent that is resorted to, although the most usual thing is to obtain an almost automatic response in a matter of minutes.
  • Third phase: receive the money in the account. In the event that the loan application has been approved, the next phase consists in waiting to receive the cash in the bank account. This phase depends a lot on the bank to which the user’s account corresponds. Even so, in general, the income is made in less than 24 hours after the approval of the urgent loans.

As you can see, requesting an urgent loan is something that requires a few minutes. And if that were not enough, the money is paid almost immediately once the loans approval is obtained.

Micro Credit and Quick Loans

Have you heard about quick loans ? Do you know what they are? And the microcredit ? They are the same?

interrogacion

 

Although they seem the same, they do not have the same meaning and are very different concepts from each other, here in this section we explain the difference.

To understand better, let’s start by understanding what the difference between credit and loan is.

Credit : in a certain amount of economic resources that is available to a person or company, to be used at the time they require it.

Loan : is the amount of money that a person or company owes to someone else.

The main difference between both concepts is that the credit is an amount that the person or company that has the right to use it, can exercise it or request it at the time it so requires; while the loan is already a certain and fixed amount that a person or company must pay someone else under certain previously agreed conditions.

While the credit is not used, it does not generate any debt between the parties.

Both the credit and the loan are in a multitude of modalities in the market from: fast loans, micro loans, pledge loans, mortgage loans, personal loans, etc., and each of these serves a particular situation and need.

The particularity of the micro credits is that they are loans that are granted for small amounts, usually up to $ 10,000 pesos, and that serve to satisfy short-term needs.

The quick loans can be from small amounts like $ 500 pesos, to larger amounts for thousands of pesos, here the main characteristic is that the process of authorization and approval of the loan to the person or company that requested it, depending on the institution that it is granted, it can take up to no more than 24 hours. With this, what is being supported is to obtain resources almost immediately to solve other types of situations.

We support you to solve your short-term needs with micro loans that are approved and authorized almost immediately, based on a highly agile and efficient process, contact us through www.Smike.mx , text message or phone and We will gladly assist you to support you at any time.

How much interest do you pay on the personal loan?

Are you going to borrow money, then it is good to know how it is with interest and the personal loan .

A personal loan is a solution if you are short on cash but have to make a big expense. It can then be about a new car because the old one has gone, but it can also be a renovation that you want to finance with a loan. Anyway, you enter into an agreement with a lender that lends you a certain amount and that you pay it back over a fixed period. We looked for you how it is with the interest you pay on such a loan and how that amount is built up.

A variable amount of interest and repayment

If you take out a personal loan, you will be credited the amount of the loan to your bank account in one go. So that is your fault that you have at that moment. An appointment is made about the amount of the repayment, and that is a fixed monthly amount. Then a calculation is made. You pay a monthly amount and that is composed of interest and repayment.

You have agreed in advance with the money lender what interest is included with your loan. The payment of a personal loan consists of an amount of interest plus repayment. How much you pay in interest, the lender calculates for you. The interest is always calculated on the outstanding amount of debt. If you have the maximum debt, then you also have the highest amount of interest. Gradually the ratio becomes less. A calculation is made; total monthly amount minus interest is redemption. This means that you pay a very low repayment in the beginning and that you pay less and less interest over the years.

What about the term of a loan

You will always be inclined to want to take out a loan for as long a period as possible. After all, you pay a lower amount of repayment, which makes the monthly expenses more attractive. However, you have to take into account that you take out a personal loan with a specific purpose. If that goal is a renovation, then it is a good idea. After all, you still live in your house for a considerable number of years and you can therefore get these costs. In that case you do not pay any repayment on your personal loan while you have already lived elsewhere.

Another story becomes when you take out a personal loan for a car. You usually drive about 5 years before you buy a new one. If you have taken out a loan that runs for 10 years, it is not wise to take out a personal loan. You then pay 5 more years while the car is no longer in your possession. You will therefore always have to let the term of the personal loan depend on the purpose of the money.