Monthly Archives: December 2018

Transfers a loan to a cheap loan with a low interest rate

Sometimes it happens that people take out a loan that they are not happy with afterwards, in which case a loan can offer a solution.

loan

The loan ultimately turns out to be more expensive than you initially expected. The total amount of repayment and interest on your existing loan is higher than you would borrow the same amount again today. In that case, a loan can save you a lot of money.

What does a loan mean?

In short, a loan transfer comes down to the following. You take out a new loan with which you pay off your old loan in one go. For example, it may be that in the meantime the borrowing rate has fallen enormously, so that switching your old loan is interesting. The new loan has a lower interest rate and therefore lower expenses.

Moving a loan pays off

There are many different loans available and you can go to a lot of lenders to take out a loan. This makes the entire process of borrowing money cluttered if you are looking for the most suitable money loan. It is therefore not surprising that someone takes out a loan that he is not happy with later on.
After closing, you will discover that a cheaper loan with lower interest rates and better conditions exists at another bank. Crossing your old loan is the best option.

But can you just transfer your old loan?

Many families have taken out a loan for which they are no longer coming from. This has recently been given attention in the Radar television program. Since the closing of the loan, the interest rate has declined enormously, which makes a loan transfer interesting. However, in the terms of the loan it is stated that in case of early repayment a huge penalty interest is due so that early repayment is not interesting.

Of course, this is not neat from the bank where these people have taken out the loan, but the bank has the right to stick to the conditions.
Therefore, do not only look at the interest when you take out a loan but also at the conditions so that you can pay off without penalty in the interim. Read our article ” compare loans “.

Exchanging a loan, how does it work?

When you decide to transfer your loan, you take out a new loan from another or the same bank. Even if you still have to pay penalty interest, switching can be interesting. With the money from the new loan you will pay off your old loan. Because the new loan has lower costs, you could even borrow more money while the monthly expenses remain the same. However, a bank will never give you too much money. Maximum borrowing is not always wise. The bank looks for your income and monthly payments for the new loan amount.

The small print of the loan

When taking out a loan, always look carefully at the terms and conditions of the loan. In addition, be sensible and determine for yourself what you want to pay for monthly payments. Borrowing money costs money and it is a given that people do not always realize how much they can miss each month.

In order to prevent yourself being deeply indebted, you can be informed by the bank or money provider. This way you can take out the best-fitting loan. Whether you want to borrow a small amount or a large amount, avoid paying too much for your loan.
The terms of the loan therefore state whether you can redeem the loan early without paying a penalty interest. This allows you to always switch the loan and you have lower monthly payments.

Mini loan – borrow extra money online

If you want to borrow something more, We are a good option for a mini loan.

borrow small amount

Receive your mini loan today?

If you would like to have extra money deposited into your bank account today, that would be easy with your calling credit. This involved small amounts of € 20 to a tenner, but as mentioned, this provider stopped this mini-loan.
 
Receiving your mini loan today will be difficult but will it be fast enough tomorrow?
You borrow a small amount and pay this mini-loan back in a maximum of 45 days. Handy for when you’re tight and need extra money.

Borrowing fast money: Minus loan

So a mini loan is nothing more than an ordinary loan, but for a small amount. You can not go to the ordinary bank if you want to borrow € 100 or € 200. People soon ask family or friends for money.

That is no longer necessary now that Ferratum also provides mini-exercises. And the best part is that you can have your money the next day.
Because it is a small amount to borrow up to 1500 Euro , no BKR review is done. Handy if you can not go anywhere else to quickly borrow a small amount. Only borrow if you are certain that you can repay the loan. 

Want extra money today, request a mini loan?

Depending on your bank, you can receive the desired amount in your account within 24 hours. The amount will be transferred quickly after approval of your request on working days so that you can quickly dispose of your money.

Extra money by retaining more per month

It sounds simple, but you can also save extra money by lowering your fixed costs. Known from the TV program “A dime on its side” is the website Demolishing the crisis . They offer the possibility to directly cut costs by saving on your telephone costs, internet costs and your gas and light costs. This way you also have extra money and you do not have to take out a mini loan.

Quick loan without papers

With the crisis, the need for quick money of many people increases more and more.

Quick credits without papers

In general, quick loans are usually requests for urgent mini-loan to solve specific liquidity problems. In this sense, fast loan online are being of great help to streamline the management and granting of personal loans and get the money quickly.

Financial institutions and private lenders offer quick, paperless online loans where it is not necessary to explain what the money is needed for, nor to present a bank guarantee. Some quick loan without papers we can have them available in less than 24 hours and some even in a few minutes with a phone call according to the amount of the credit.

Advantages of fast loan without papers

The main advantage of fast loans without papers is undoubtedly the almost immediate provision of urgent money. It should also be noted the ease of making the request for the personal loan over the Internet as if you decide to request the money over the phone. In many cases it is as simple as filling out a form with our data and sending it to the financial institution or private lender.

The possibility of requesting quick loan without papers , without questions and without guarantees makes the entire loan management process very comfortable and that almost anyone can get fast money to solve the problem or the urgency.

Disadvantages of fast loan without papers

When requesting quick loan without papers, it must be taken into account that it is a short-term financing. In no case should it contract fast loans without long-term papers given the high interest rates that financial institutions impose on this type of operation due to the risk of default that this entails.

Before applying for a quick credit without papers, you should make a quick credit comparison, study the characteristics and the small print of each one until you find the one that best suits your payment possibilities and your family economy.

Microloan for entrepreneurs – Tips and information about business microloan

That is why many entrepreneurs are looking for a microloans.

The Netherlands has thousands of companies in the small and medium-sized enterprises (SME) sector. This sector consists of many one-man businesses and smaller VOF companies, often with a somewhat lower budget. 

What is a microloans?

A microloans is a small loan for private individuals or entrepreneurs. A microloans is often a loan of up to 50,000 euros and has a shorter term than a regular loan. This type of business loan is often suitable for starting and existing entrepreneurs to prepare their working capital, or to bridge a loan gap.

Loan providers for a microloans

In the Netherlands, people are increasingly seeing a shift in loan applications. A number of years ago entrepreneurs often went to big banks. However, Dutch entrepreneurs are now increasingly claiming the so-called flexible loans. Banks are also gradually coming along with this shift. For example, we have made an overview for business owners with business loans .

Business loan for starting entrepreneurs

The Netherlands has many new registrations annually. Registrations often take place in the month of January, because people often see this as an opportune moment. When establishing your own company, there is often a lot involved. For example, a company often has to invest initially, which is often not possible with full equity. Borrowing direct money from a large bank is often not possible, because a company must be able to show annual figures. That is why starting entrepreneurs, who need a business loan, should look further than the regular way.

When a company has more equity, this gives confidence to a lender. However, there are many companies that have little equity. That is why it may be wise to look in the family circle, or there are some wealthy (loan) providers.

When some power is collected, an entrepreneur can look at a microloans. On our comparison page there are a number of loan providers for microloanss. Take a look, and compare the pros and cons by loan provider. View our page with business loans .

The lowest interest rate of a personal loan?

Before you take out a loan, it is nice to know how high the interest rate of a personal loan should be.lowest interest rate of a personal loan

That way you can be sure that you are dealing with a fair party and a good deal. Of course, interest is not the only factor that is important in comparing loans. Also look at the duration, the amount of the fine in case of early repayment and such matters.

The interest rate of a personal loan can vary greatly among providers. We see, for example, that the interest on a loan of € 15,000 varies between 4.4% and 8.3%. This also has to do with other factors. For example, with the lenders for small amounts, such as ferratum , we are dealing with a high interest rate, but a short term. Because the term is short you only pay interest once or twice and you end up being cheaper. The longer the term, the more expensive the loan is.

A balance is often sought between the term and the level of interest. For example, different companies determine the level of their interest. The statutory maximum level of interest is 15%. When you touch that border, you can almost be sure that cheaper loans can be found. In practice, interest usually rises to around 10%.

Comparing interest from a personal loan

A handy website for comparing interest from different personal loans is mijnpersoonlijkelening.nl . Here you enter the amount to be borrowed, the term and the type of loan and the tool searches all kinds of different lenders on the internet. You will see a list with different minimum and maximum interest rates from different providers. It may be that your lender does not include this, but you will get a clear picture of whether you have a cheaper or a more expensive loan.

So it’s always handy to check how high the average interest rate is on your loan, before you take out a new loan. That way you know exactly which interest percentages you can think of.

Cheapest personal loan

The cheapest personal loan is one where the interest rate is low and the maturity is not too long. It is important here that you can pay off the loan in the short term. If this is simply not possible, you will have to go for a longer term and eventually lose a little more money.

The lowest interest rates we find with personal loans is about 4.1%. When you are dealing with this interest, you can speak of a very good appointment. Loans at banks are usually slightly more expensive, but then you have to deal with a reliable party. So please consider what is most important to you when you take out the loan, and how you can keep the costs small.

Request a personal loan

Applying for a loan is easy. Compare different providers, choose one that seems beneficial to you and visit the website of the lender. You can apply for a loan online and usually within 10 minutes. You wait for a possible BKR check and then usually hear within a week whether your loan has been approved. When you borrow Peer-to-peer, you avoid this control. Sometimes the full amount of your loan will be paid the same day.

Take out a loan with or without insurance

To take out a loan means that you have to repay it. But what if it is against?

loan take out insurance

Taking out insurance can then provide a solution. Is this necessary and what are the possibilities?

Pay off the loan

If you take out a loan, the credit provider will check whether you can pay off or repay this loan. Based on, among other things, your income and obligations, it is determined whether and how much money you can borrow . However, no account is taken of unforeseen circumstances. It is important to think about this beforehand, especially if you have a partner or family.

Your loan in the event of death and incapacity for work

What happens to the loan on death of you or your partner? And what is the risk of incapacity for work or unemployment? These are things that you (rather) do not think about. Are you going to take out a loan then it is good to think about this beforehand.

End the loan with standard death cover

An analysis shows that a third of the people who take out a loan are covered by a death insurance. This concerns the loans or loans offered by major banks. The costs for this coverage have already been passed on in the interest rate of the loan, so that these loans are often somewhat more expensive. Pay attention to whether the entire debt is waived. Sometimes the entire loan is not insured but a maximum amount applies.

Loan with mortality risk insurance

If you are going to take out a credit that does not include standard death cover, you can also take out a life insurance policy yourself. You prevent your survivors from being saddled with a residual debt. You can easily take out this insurance loan yourself. You then pay a monthly premium on the insured amount. The insured amount will then be paid out on your death.

You can choose from a life insurance policy whereby the amount to be paid remains the same and a variant where the amount to be paid decreases. The first insurance fits best with a revolving credit and the second fits better with a personal loan. The minimum amount for a life insurance policy is € 10,000 (even if you borrow less). You can, however, cancel the insurance (after a year) immediately and without penalty.

Take out a loan with payment protection

If you become incapacitated or become unemployed, your income will decline. You can then run into problems with paying off the loan. With a payment protection you can insure yourself against this. You will receive a monthly payment and with that you can pay off the loan.

Taking out a loan with insurance is not compulsory

Unlike with a mortgage, a mortality risk insurance with a revolving credit or loan is not mandatory. It is up to the customer to assess the risk and take his or her responsibility.

Motor loan – Borrowing for the purchase of an engine

A loan especially for the purchase of an engine , can offer a solution.

It will happen to you: you walk in at your favorite motorcycle dealer and you will see the most beautiful engines. You would be happy to drive here. When you turn the price tag around, however, this dream falls apart, the price is too high and you can not get the money together at the moment. In such a case, a motorcycle loan , a loan especially for the purchase of an engine , can offer a solution.

Motor loan at the dealer?

An option that many people think of and that is quickly presented to you is to take out a loan from the motorcycle dealer. However, this is not a good idea. Why not, you will wonder. A motorcycle loan at the dealer is expensive, much too expensive. You often pay higher interest rates, the loan is less flexible and therefore higher costs. One of these known financing at the dealer is. I do not say, first research yourself, because comparison pays and can easily be done online.

Financing the engine: Borrowing money for an engine

It is better to keep the purchase of the engine and the closing of the loan separate. Decide for yourself where you will take out the motorcycle loan and compare loans . This ensures a more flexible loan, lower interest rates and therefore lower costs for your motor financing.

You close the loan at the dealer on the basis of emotion, you now want the engine. However, it is better to take the decision in peace.
Buying a motorbike is often emotion, borrowing money is not, and you do that with your mind. Do not just close a motorcycle loan to the dealer, but take the time to see what the best option is for you. The engine is also there tomorrow. For example, do not take out a loan that runs longer than you own the motor. Therefore always opt for a motorcycle loan that you can pay off without penalty !

Borrowing for an engine: Financial lease

Another option to finance the engine is with Financial lease, an example is BMW 3easyride. This concerns a loan with a self-chosen down payment, a final term and a fixed term. This means that a fixed monthly amount applies. You will only become the owner after paying the final installment. The advantage of this is the low monthly amount, but the surprise comes to the end when you have to pay the final installment.

 
It is important that you think of smart borrowing when you have a motorcycle loan. Know well what suits you best, because wise lending is not only done by just saying yes.
There is also the necessary preparation. What are the costs of the engine? How much do you have to finance? What is the interest? When do you have to pay back the money?

Enough questions to find out and then make a choice what suits you best. You can not just take out a motorcycle loan, you do this responsibly and at your leisure. Patience is important even if you want the bike directly. First look at the costs of smart borrowing. Financial leasing can be a good alternative to a motorcycle loan, but first calculate, compare providers and then make a responsible choice of which motorcycle loan best suits your situation.

Why is a loan rejected?

Not all loan applications, unfortunately, are successful.

Loan refused: can I ask for another?

There are also those that are rejected, for many reasons. The important thing to know is that, if you are in this situation, you are neither the first and you will certainly not be the last to whom a financial or bank has said no. In this guide we will try to understand why funding is refused and how it can be done.

Understanding the reason for rejection

The first important thing is to understand the reason for a refusal, so what was the reason why the bank said “no”. Below is a list of the most common causes:

  • loan refused because one already has one , is one of the most common causes. If you have already turned on a loan in the past, or if you have a loan, the bank or financial institution tends to refuse to grant new financing if you do not provide sufficient financial guarantees;
  • Loan refused because it was not counted , is one of the reasons for never applying for credit until now, so it is completely unknown to banks or financial institutions. In this case, the “trick” is to make a first loan application for very low amounts, say around € 1,000, repay everything in a timely manner and only then proceed with higher requests;
  • p remained rejected because bad payer or protested , another very frequent cause. In this case, your credit history is not good and the lenders tend to refuse the request. The only way to get back “on track” is to improve their personal situation trying to get out of the register of bad payers or that of protested, two things that however require the minimum time required by law.

Loan refused: can I ask for another?

Yes, it is possible, but you must not be in a hurry. ” When I can ask for another ” is, in fact, one of the most asked questions because, from the moment you get a refusal, you go a bit into the ball. You should know that, after the denial of the loan, this decision remains registered in the CRIF register for 1 month, so if you ask another question within that month, even this new request would end up being rejected (and damaging your financial profile).

Better to wait for the minimum time and then apply for a new loan.

Loans refused, the release

The release is the document certifying that the status of the loan application is no longer waiting, but in “rejected” or “withdrawn” mode. The important thing, when applying for a new loan, is that it is not in the “Requested” status, which means that the financial agency or bank has not yet made a decision.