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How to get loans for foreigners: the procedure to follow

Requests for access to credit by foreign citizens are increasingly frequent. Wondering how to obtain loans for foreigners is therefore a very important issue in the credit market. There are many references in this regard and linked to different credit institutions.

Cream Bank: here are the loan proposals for foreigners

Cream Bank: here are the loan proposals for foreigners

How to get loans for foreigners? Referring to credit services such as Cream Bank, which presents an entire section of the site dedicated to the needs of foreign citizens who need access to credit.

A useful example of this is Credit personal loan. This product, for which there is no obligation to present a voucher for the expenses incurred with the amount requested, allows access to a maximum sum of $ 75,000. The amortization plan can last up to 120 months and, in case of difficulty, it is possible to act on the sustainability of the plan by moving two installments at the end of the repayment period.

Loans to foreigners at the post office: Special Cash partial Pay

Loans to foreigners at the post office: Special Cash partial Pay

As already mentioned, the answers to the question of obtaining loans for foreigners are many. One of these concerns postal products and in particular the Special Cash partial Pay loan. This proposal is characterized by the possibility of accessing three income brackets, equal to $ 750, $ 1,000 and $ 1,500 respectively.

Special Cash partial Pay: information on the repayment duration and costs

Special Cash partial Pay: information on the repayment duration and costs

We continue to talk about how to obtain loans for foreigners by going into detail on the features of Special Cash partial Pay. In this case we are talking about a different maximum refund depending on the group chosen. For the $ 750 loan, the amortization plan can last up to 15 months, while in the case of the $ 1,000 loan, it refers to a maximum duration of 20 months.

For the 1,500 loan, however, an amortization plan that can go up to 24 months. This loan features a fixed stamp duty of $ 14.62, a one-off stamp duty of $ 1.81 and monthly fixed commissions that start at $ 4.50 for the 15-month loan and arrive $ 9 for the income bracket which, instead, provides for a repayment of 24 months.

Requirements for the Special Cash partial Pay loan

Requirements for the Special Cash partial Pay loan

We conclude this guide dedicated to those who want to know how to obtain loans for foreigners by specifying the requirements for access to Special Cash partial Pay. To request it, you must be aged between 18 and 70 and hold a prepaid Poste Pay card, on which the monthly installments will be charged and the amount requested will be credited.

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Small Social Institute loan simulation online: Loan Calculator

When it comes to financing, the thought immediately runs to the major Italian credit institutions and international banking groups. In fact, not everyone knows that Social Institute is a valuable channel for accessing loans at competitive rates. You want to better understand what the Institute has to offer, we offer you an in-depth analysis on Small Social Institute simulation loan : how to calculate your loan ex Government Agency. cost278.org for more.

Government Agency Social Institute Loans 2018: online calculation

Government Agency Social Institute Loans 2018: online calculation

The aforementioned Small Loan ex Government Agency is a proposal that falls within the Social Institute ex Government Agency direct loans, that is, loans controlled by the Institute. Small Loan is characterized by being one of the most flexible solutions.

There are no particular uses sanctioned by the regulation, which is why the loan is suitable for various types of needs. However, there are specific constraints regarding the amount granted by the Institute: ranging from one to eight times the salary or pension.

This opportunity is aimed at public employees and pensioners enrolled in the unitary management of credit and social benefits. The rate is 4.25% fixed (TAN) for a duration ranging from 12 to 48 months.

Online simulation of Social Institute loans

Online simulation of Social Institute loans

In addition to the general information, in relation to which we refer you to this article, we see in particular the calculation functionality of the amortization plan : Small loan Social Institute simulation.

To calculate the Small loan repayment plan, just a few minutes and the use of the Social Institute.it site are enough. Among the Social Institute online services we find the simulation of direct loans ex Government Agency.

Clicking on the ” All services ” icon will open a page in which all online services are cataloged. There are various search systems for the service we are interested in, one of the simplest is represented by the insertion of the word “simulation” in the “Free text” field. You can see all of this in the image below.

The user will see a series of services, click on the simulation of small loans and long-term loans, the first of the results provided. This will take you to the actual page dedicated to the loan calculation service. To start the simulation (there are actually three types), simply click on the menu on the left. Again we recommend that you look at the screenshot to understand what we are referring to.

If you need assistance and other details about Small Social Institute loan simulation or other Social Institute services, we recommend using the Contact center.

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Instant credit approval: get quick money

 

It is not always possible to get over a long time before the loan approval, because in some situations it is simply necessary that money is quickly available. Most consumers then turn to so-called instant-approval loans, which are generally expected to make quick money.

24-hour credit

24-hour credit

Indeed: in the case of loans with immediate approval, which are also called 24-hour credit, express credit, quick credit, etc., the prospect receives a loan approval quite quickly, sometimes even immediately – but be careful: this immediate approval is always only of a preliminary nature. This means that even if the bank has made a provisional loan commitment, it does not necessarily have to be a loan. How can that be?

As a rule, loans with instant approval are offered on the Internet – either by banks or by credit brokers. The prospective customer has to fill out a questionnaire online, in particular according to personal details such as desired loan amount, name, date of birth, address, employment relationship, amount of income, collateral, duration and amount of the desired credit installments.

On the basis of this information, which is made online, the provisional loan approval (or rejection) is issued, so that the applicant must prove his income and financial situation so that the loan approval can also be confirmed. In addition to bank statements, he also sends pay slips and employment contracts to the lender, using the PostIdent procedure.

Loan with immediate response

Loan with immediate response

A loan with an immediate promise, with which one hopes for quick money, is not necessarily paid out faster than a normal loan, on the contrary: since instant loans are usually granted online and the documents to be submitted and the loan contract have to be sent by post, one will Loans in a branch bank are often paid out faster than internet loans.

Incidentally, the self-employed often look into the tube when it comes to loans with an immediate commitment, because the assessment of the creditworthiness and the income situation takes longer for self-employed people and is more complicated than for employees. In general, loans with immediate approval should be treated with caution: think about the extent to which the need for debt capital is actually necessary before you commit yourself to a loan in the medium or even long term.

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The 0% financing in detail – Free loan

 

Many traders offer their customers 0% financing

Many traders offer their customers 0% financing

Most consumers have limited financial resources and have to save a long time to make a larger purchase, such as a new television or a car. This displeases the dealers. For this reason, retailers are considering various strategies for how they can increase consumer consumption. One of these strategies is the free provision of a loan in the form of so-called 0% financing.

0% financing – pay installments instead of saving

0% financing - pay installments instead of saving

The 0% financing is based on the principle of paying installments instead of saving. The easiest way to explain this principle is to use an example. For example, suppose a consumer who could save $ 50 a month is in a store and is interested in a new television that is priced at $ 1,200. Unless he takes out a loan, this consumer would have to save 24 months to afford this television.

However, many consumers do not want to wait that long and are therefore interested in financing at the lowest possible interest rate. For this reason, numerous retail, online and mail order companies that want to increase their sales offer their customers so-called 0% financing.
If the dealer should offer his customers 0% financing in the example shown here, this means in concrete cases that the consumer can pay off the TV in 24 installments of 50 USD each.

In many cases, 0% financing is just a supposedly good deal

In many cases, 0% financing is just a supposedly good deal

At first glance, 0% financing is a free loan. At second glance, however, you have to recognize in most cases that 0% financing is very expensive. The reason for this is the fact that 0% financing usually leads to a higher sales price. For example, it is conceivable that another retailer is offering the same television at a cash price of 1,000 USD. In such a case, the difference between the two sales prices of $ 200 can be viewed as interest for the financing.

The amount of the monthly installment should be the basis for decision-making for financing

The amount of the monthly installment should be the basis for decision-making for financing

As you can see from the example given, when financing a purchase, you should not only pay attention to the interest rate offered, but also to the sales price. A low sales price often leads to a decrease in the amount of the monthly charge, even with a higher interest rate. This can be explained very well using the previous example. Suppose a consumer does not buy the television from the first retailer, but from the second retailer, and finances it at an interest rate of 5 percent over 24 months. In this case, the consumer pays a monthly installment of 43.87 USD. It saves around 150 USD over the entire term.

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Make credit card payment

In the past, payment with a credit card was particularly common abroad, in Germany it was not offered by many retailers – above all because the EC system was a sufficient alternative for a long time. A credit card payment was often only found where a relatively large number of foreign customers can be expected.

However, due to the massive expansion of online trading, the EC card has been largely displaced, since it is not easy to pay online with this. As a rule, only payment in advance, cash on delivery or online payment service (PayPal) or credit card is possible. If you want to buy cheaply in English-speaking countries, you will only have the option to either use one of the many online payment services or you can almost always pay with a credit card.

Get a credit card

Get a credit card

Since a credit card is very easy to obtain today – and often even without fees – or as a “light” credit card in the form of a prepaid credit card, which has the same functions online as a “real” credit card, more and more businesses are switching and offering also offer their customers credit card payment in addition to paying with an EC card or cash.

Making a payment in a normal business with a credit card is no different from paying with an EC card – first, of course, you should make sure that the credit card is accepted. You can recognize this by a logo (at the checkout) of the respective provider, for example VISA, American Express, MasterCard or Diners Club. However, many stores also accept a credit card on demand, especially for expensive purchases.

If you want to make a payment with the credit card, you usually have to show your ID so that the data on the credit card and the signature can be reconciled with the data on the card and the signature.

When paying, the credit card is then either inserted into a card reader itself or by the seller. You should insist on doing this yourself or not losing sight of the card if possible – why, see last paragraph. Then you enter your PIN and confirm the PIN entry.

After the credit card payment you should receive 2 receipts, on which the amount is noted. You have to sign one and compare the signature with that on the ID card. One should receive a receipt, the payment receipt and / or receipt, the other one will be retained by the seller who accepted the credit card payment.

Credit card on the internet

Credit card on the internet

You can also pay with a credit card on the Internet – logically you don’t have to identify yourself and you can’t either. However, the following is valid as identification:

  • correct cardholder data,
  • credit card number,
  • Security number / check digit and des
  • Expiry Date,

and of course the card company (VISA, American Express, MasterCard, Diners Club, etc.).

Usually, this data is only accessible to the holder of a credit card, which is why the payment can be considered secure – but: If someone else also has this data, they can also buy on behalf of the owner. This only works if the card is blocked, which is why you should have the card blocked immediately after a loss.

In this case, most card companies offer additional insurance as an inclusive service, for example if the card has been stolen, the thief purchases it immediately, but is nevertheless quickly blocked. If it can be seen that the card can be blocked immediately after the loss, the costs incurred are usually borne by the card company or its insurance company – so don’t wait too long, because the goodwill of the providers also knows limits.

But: It may also be that the card was not stolen at all and someone is still shopping with it, e.g. For example, if he steals the card and copies it – he also has all the necessary data without it being stolen. That is why you should never take your eyes off your card when making a credit card payment in a shop – at worst, it can otherwise be copied quickly by a fraudulent merchant or employee without you realizing it.

In this case, the card company or its insurance company rarely takes over the damage if you see on the invoice weeks later that someone else has bought with the card – here you have simply acted negligent and there is often only the way to get the result Retrieve damage yourself via notification.

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Credit for start-ups: advice including a credit comparison

As start-up financing for the small online shop or for the ambitious startup with several employees – With a loan for start-ups, young entrepreneurs obtain the necessary financial means to start with their business idea. Who actually writes and advises here? 

This is a loan for start-ups

This is a loan for start-ups

A loan for start-ups is aimed at aspiring entrepreneurs and freelancers who need start-up financing to start their own business. Banks and other financial institutions show extra start-up loans because the acceptance criteria for other types of credit sometimes differ significantly – in favor of those starting up.

The banks’ clerks take into account any public funds that may come into question (promotional loans) and sometimes provide assistance in compiling the necessary documents.

You need these documents

You need these documents

Which documents have to be submitted in a specific case not only differs from credit to credit, but sometimes also from bank to bank. However, the requirements are often similar or the same.

The following are usually requested:

  • Business plan – Presentation of the business idea in writing on approx. 10 to 50 pages
  • Investment plan – written presentation of how the start-up loan applied for should be used when it is paid out
  • Credit Bureau information so that the bank can estimate the likelihood that the loan will be repaid in accordance with the contract
  • Information about available financial resources and possible collateral
  • Income tax assessments – often over the past two years
  • Contracts and / or draft contracts – for example rental contracts (for the new business) or cooperation contracts

Use the free and non-binding loan comparison calculator at the top of this page – even if not all documents are available. When you have given your details, a credit specialist from our cooperation partner smava will contact you by phone and discuss the further procedure with you.

Loan for start-ups without equity

Loan for start-ups without equity

Under certain conditions, it is quite possible to get a loan for start-ups without equity. This depends, among other things, on the amount of the loan, the investment plan and the business plan.

  • Amount of the loan amount – As with other financing, the lower the loan amount, the higher the probability of acceptance.
  • Investment plan – Is the borrowed money invested in valuables that can be resold in an emergency, or in staff whose salaries are irretrievably gone after disbursement? Those who can offer collateral (for example in the form of machines) have an advantage when approving a start-up loan.
  • Business plan – If the submitted business model is particularly difficult to predict when and if the company will be economically successful at all, the probability of acceptance is particularly low.

Ask your credit advisor for details! The advisor can also tell you which bank is most likely to accept you. Greater opportunities with a second borrower! When granting loans, banks try to find out as much as possible what the so-called default risk is. This drops significantly if two instead of just one person are entered in the loan agreement.

Ask your credit advisor about the possibility of a second borrower !

Financing “without Credit Bureau”

Financing “without Credit Bureau”

In order to be able to determine as well as possible the likelihood that borrowers will repay the monthly installments in accordance with the contract (i.e. on time and in full), lending banks ask the so-called credit rating at Credit Bureau, the largest credit agency in Germany. The score is just one of many parameters that are relevant to the approval of a financing (regardless of whether it is a loan for start-ups or another financing). Without the score, the lending institutions lack an important “building block” for the assessment – financing “without Credit Bureau” is therefore not possible with the renowned financial companies in Germany.

An alternative to a loan for start-ups from a bank is “from private” financing. The financial resources are not provided by a financial institution, but by a private person. The advantage: A private person can decide for himself who he provides his money to – and whether the credit rating plays a role or not. The disadvantage: private individuals usually make their money available in order to generate a return. To provide the financing, the donors charge correspondingly high interest rates, which are usually significantly higher than those at a bank. Credit “from private” at transparent-beraten.de The online loan calculator not only shows bank offers, but sometimes also “private” loans – depending on the conditions selected. To do this, select the “credit private” offer.

Notice. A Credit Bureau query also takes place in this case. It is up to him whether the sponsor takes the score into account.

Apply for a business start-up loan in three steps

Apply for a business start-up loan in three steps

In three steps you apply for a business start-up loan via transparent-beraten.de: 1st step: compare offers, 2nd step: choose offer, 3rd step: submit documents.

Step 1: view and compare offers
Enter the following information in the application section:

  • Amount of the loan
  • Desired loan term
  • Usage
    Under “Purpose”, enter “Business”.

Once you have made your entries, the online calculator will show you various offers that match your entries. In order to receive specific offers, you must provide further information about yourself below. This is important, among other things, since many loans are granted depending on the creditworthiness (the amount of the loan interest is based on the creditworthiness of the applicant).

Step 2: Choose an offer
Once you have provided your details, you will receive specific loan offers that you can receive on the terms mentioned. Decide on the best offer.

A credit advisor will then contact you by phone – free of charge and without obligation – to discuss with you whether the selected offer is really the best. In addition, open questions regarding the submission of the necessary documents are clarified.

Step 3: Submit documents
Once you have gathered all the documents, submit them to the bank. You can prove your identity either using the PostIdent procedure, the VideoIdent procedure (if offered) or in person in a bank branch (if available). The subsequent approval of your credit request is usually carried out within a few working days.

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How old can the car be for car loan? | expert tips

The age of the car plays an important role in car loans – but not the only one. The banks do not grant a car loan for every vehicle: Older vehicles – especially common everyday models – can be difficult. Who actually writes and advises here? About us On this page How old can the car be? Role of vehicle value Alternative: Installment loan Compare loans directly

How old can the car be?

How old can the car be?

The basic rule is: each bank has its own guidelines regarding the granting of car loans. The requirements are correspondingly different – for some banks the end of the vehicle is already 8 years old, for others only 10 or 12 years. Often, the decisive factor is not so much the age, but rather the value that the vehicle is likely to have at the time of the last installment payment.

Vehicle value at the end of the contract period

Vehicle value at the end of the contract period

In the case of a car loan, the vehicle letter is handed over to the bank so that the bank can sell the vehicle if the borrower stops paying the loan installments. The vehicle therefore represents a security for the bank. If the vehicle is now only worth a few hundred USD, the bank remains on the open credit installments.

With a commercially available VW Golf that is 10 years old, it may now be that the vehicle is only around 1,000 USD three or four years later. If, for example, 1,500 USD loan installments are still outstanding at the time, the bank remains on part of the costs. Taking into account the effort involved in selling a car, the bank is undoubtedly making a loss.

A 5 Series BMW with a powerful engine and many extras may still have a certain value six years after purchase. If the term of the contract is not too long, the vehicle may still be worth a few thousand USD on the used car market at the time of the last loan installment. In this case, the chances of finding a car loan for a 10-year-old vehicle are significantly higher. Basically, the following applies:

  • The less the loss in value, the greater the chance of getting a car loan for an older vehicle.
  • And: the shorter the loan term, the more likely the banks are to get a car loan for an older vehicle.

With a short contract term, the vehicle is ultimately even more valuable at the time of the last loan installment than with a long contract term.

Determination of the expected vehicle value

The decisive factor is always the market value. And that depends on the used car market. To now be able to determine – at least very roughly – how much a vehicle after z. B. can still be worth 8 years, take a look at the current used car offers.

Calculate how old your dream vehicle will be at the end of the loan term and search (e.g. via an online portal for used vehicles) for a comparable vehicle that is this age today. For example, if your dream vehicle is a Mercedes E-Class, Estate with automatic transmission and navigation system, look for comparable vehicles on the used vehicle market that are as old today as your dream vehicle will be at the end of the contract . This gives you a rough guideline – a guideline that is also determined by the banks in this way.
Notice! It is not certain whether the sample vehicle you chose for this value calculation corresponds to the sample vehicle that the bank chose. Therefore, try to select the comparison vehicle as realistic as possible.

Installment loan as an alternative

Installment loan as an alternative

If the vehicle is too old for a car loan, there is still the option to apply for a classic installment loan. There are also many cheap offers for an online loan here.Notice! A non- earmarked installment loan is always more expensive than a car loan. A car loan is a financing with earmarking, in which the financing is subject (ie the vehicle) deposited as collateral with the bank. In an emergency, the bank can sell the vehicle and therefore has a significantly lower risk that costs remain open. The banks “reward” this lower risk with more favorable conditions, often with lower monthly rates. With a non-earmarked loan, the risk is greater for the bank – interest rates are generally higher because the bank wants the higher risk to be paid.

Car buyers should always choose a car loan whenever possible. An installment loan without earmarking should always be the second choice.

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Credit: Definition and overview of loans

Loans play an important role in economic life – also for private individuals. They enable the financing of larger purchases and expenses that would exceed the currently available budget, but can also be used to increase the return on equity of an investment. However, in order to be able to use loans properly and not later to run into payment difficulties, potential borrowers should know some background information on this topic.

Different types of loans

Different types of loans

Banks and savings banks offer a range of different loans for private individuals, which can be classified based on various characteristics – such as the type of interest, term, repayment modalities or purpose. For example, there are loans with a fixed or variable interest rate, long-term loans, unlimited general loans or short-term financing, installment loans or final loans. With regard to the purpose of use, for example, car loans, consumer loans, disposition loans, training financing and real estate financing can be distinguished.

Other topics on credit

  • Loan credit
  • Loan without equity
  • credit without
  • To debit credit
  • loan comparison
  • Mini credit

Which loan is the right one?

Which loan is the right one?

Which type of loan is the right choice in a specific individual case depends on the life situation of the borrower and his creditworthiness, but also on the intended use of the loan and, if applicable, on external conditions such as interest rate developments. In principle, long-term investments, such as real estate, should also be financed long-term, while short-term liquidity requirements should also be covered by short-term financing. However, the volume of borrowed capital borrowed should in any case only be so high that the current income is sufficient to pay interest and repayment without any problems in addition to the fixed current expenses plus a “security cushion”.

Details that borrowers should pay attention to

Details that borrowers should pay attention to

When entering into loan contracts, borrowers should pay attention to some details that may only seem meaningful to them at second glance. Above all, this includes the question of the type of interest. If interest rates are currently very low, it is worthwhile, for example, to agree on a long-term fixed interest rate for long-term real estate financing. A slightly higher interest rate is usually due for this, but the borrower has secured itself in the long term against a possible rise in interest rates, which could lead to a significantly higher interest rate once the fixed interest rate expires. It is also important that a comparison of different loan offers should not be based on the nominal interest rate, but only on the basis of the effective annual interest rate, which also includes fees and additional costs.

Check current loans regularly

Check current loans regularly

Anyone who has taken out a loan should under no circumstances simply leave it there until it is regularly repaid. It is much more worthwhile to check at regular intervals whether the remaining part of a loan can possibly be replaced by a cheaper loan or whether it is worth combining several smaller loans into a single loan by means of a corresponding debt restructuring. And those who take up a relatively high-interest loan, such as the overdraft facility on the checking account or the credit line of their credit card, should check whether taking out an installment loan instead would be the cheaper solution.

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Loan without credit bureau with immediate approval

Loans differ based on many factors, such as their purpose or type, but also the length of time until the bank approves the loan. A loan without Credit Bureau with an instant commitment is a personal loan that is offered by a foreign bank via online credit brokerage on the German market.

Loan without Credit Bureau with immediate approval

Loan without Credit Bureau with immediate approval

Correctly, however, such a loan would have to be called “Loan without Credit Bureau with a preliminary immediate approval”, because the loan approval that you receive after you have given the data in the online loan application can only be of a temporary nature.

The commitment can only be confirmed once the lending bank has received the supporting documents or supporting documents, such as bank statements that show the running costs, pay slips that help the bank to better estimate the regular income of the customer, and an employment contract that shows the bank what type of employment the applicant is pursuing.

In principle, people without a job, retirees, entrepreneurs or freelancers, housewives, schoolchildren, students and generally also trainees or apprentices are excluded from a loan without Credit Bureau with immediate approval.

The fact that the applicant has a job is no guarantee that the loan approval will ultimately be confirmed, because even if no Credit Bureau information is obtained, the creditworthiness of the borrower will be checked, using a so-called household bill – the expenses become income deducted and the remaining amount must be sufficient to repay the installments.

Comparison of online loan with instant approval

Comparison of online loan with instant approval

In comparison, many of the online loans without Credit Bureau with instant approval have a slightly higher interest rate level, although this does not necessarily have to be the case – but what makes such a loan without Credit Bureau more expensive are the fees of the loan brokerage, which are inevitable. In addition, the loan amount does not usually exceed the 3,500 dollars mark.

Applying for loans through capital lender is easy. An online loan application is sufficient to address both banks and private investors at a serious level. Of course, the borrower decides who gets the loan.

Our customer support team is fast and efficient to clear all your doubts regarding personal loan eligibility, procedures, offers, documentation and repayment options.