MonthApril 2019

Youth Loan

Is there a loan for young people or teenagers? Times or other teenagers ask for personal loan through the comments here at the Wise Men of Gotham, others want to know how to get their first loan. The truth is that more and more people are wanting to find ways to borrow money for various purposes.  

Personal loan

Personal loan

So if you are young, student, trainee, small business owner and need to take out a personal loan to pay your bills, assist with paying for school or college or want to open a business of your own, you will want to know how to do this, the ideal is to make sure you choose the most appropriate line or mode with the best rate.

How to get your first loan? The loan for young people are found in banks and financial institutions throughout the country. There are several options to choose from, and in all of them the interested party must be of age 18/21 years depending on the lender and mode of financing.

In the case of loans for young students, the interest rate are refundable once you finish the course. It also has a loan for young people who want to do masters or doctorates.

In addition to making financial resources for young students, there are available personal loans granted on a huge variety of lenders and lenders. The young person can, for example, apply for a loan to buy his first car, property or consumer goods.

Build credit history

Build credit history

When taking a loan for a young person in a bank, financial, credit union or in your company if you have released payroll deducted on the salary, you will pay back the amount you borrowed plus the interest on the amount of the capital.

The best way to start building a credit history is to open a checking account for young people and keep constant moves to create a good score, this will make it easier to get loans and credit with the lowest rates.

But if you, despite being a young person, already have a restriction on the name, we are very sorry to say that you will have to search a lot until you find an institution willing to accept your request for credit or loan application.

It is also worth mentioning that whatever your age, before hiring a loan with repayment plan with interest, check out the terms and conditions applied, another thing, make sure you can afford operation cost without difficulties.

Lower interest rate payroll loan

Loan consigned from afar is with lower interest rates when we speak of credit for individuals, just look at the numbers in relation to other modalities that we already know that there is an advantage. You do not have to do it, but you need to be aware, the Cash Pledge is 1.93% and the real estate loan and vehicles are around 1.15% and 2%. So if you do not have these guarantees to give to the lender, it goes from the same consignment.

The problem with paycheck is that not all citizens can or do have access to the credit they have released, it is necessary to be included in some categories or classes in order to borrow the loan, for example: who receives incomes such as pension and social security pension, or proceeds, by means of payroll sent to the bank as the servants and military.

In this way, as long as the payment is paid every month, the monthly payment is deducted even before the money falls on the account of the citizen who requested the loan. As the credit risk to the bank is small, almost zero, the interest rates are offered lower than personal credit or overdraft.

Consigned to lower interest rates

Consigned to lower interest rates

For payroll loans granted to retirees and pensioners of the Social Security and federal public servants, there are rules for the collection of interest, that is, it has a maximum ceiling for which banks and financiers cover the borrower. At the end of September, Ministerial Order 309 of the Ministry of Planning, Development and Management set the maximum interest rate at 2.05% per month or 27.57% per year for federal civil servants. We took a look at the site, and you do not waste time, we offer some of the most important rates, see below:

Checked rates retired

Checked rates retired

For social security beneficiaries, retirees and pensioners, the approved limit for interest prepared by the National Pension Board is between 2.08% per month or 28.02% per year. Now for those who want to know more about how interest rates of all types of non-factored loans and loans in general go, the Central Bank website informs the rates of most financial institutions, to access click here.

In the spreadsheet below, it is possible to see that loans assigned to civil servants have very attractive rates, they are well below the 2% per month imposed by the regulator, of course there are other banks that do this modality however, the country’s top four banks, are offering below-the-ceiling payroll of 2.05%.

Interest on the payroll is excellent, especially if you have a bank account with a special check, if using the account money, the repayment is over 12% per month or 300% per year on the credit card, the revolving credit is around 10% per month or 214% per year. And even for those who are personalized or exclusive customers in banks, personal credit is not less than 4% a month or 60% a year, that is, still very expensive.

Taxes consigned public servant

Taxes consigned public servant

The period for reimbursement of the financing is 72 months, or 6 years, for retirees and pensioners of the social security, and 96 months, or 8 years, for civil servants in general. Loan with longer terms are not a good choice, the difference in cash is very little, but the debit balance increased substantially.

Private employees, if you are a salaried employee you can also use the payroll if your company has an agreement with a bank or a financial institution. Talk to HR, if you have it, the payroll has no interest charge limit, but even so, the fees are much lower than the rate your bank wants to lend you. 

Private sector payroll taxes

Private sector payroll taxes

You already know, loan is loan , even with lower interest, that is, get 10 and pay 15, 17, there is no way. So do not have this low interest facility as an alibi to take out loan without need or without responsibility, compromise your financial life with long or too high benefits.

Loan despite temporary workers

A loan is easier to get, the greater the security. Since very few people have enough assets often serves the job as security. Anyone who earns his living as a temporary worker often has bad cards here because they are often unemployed. So it may be more difficult to get a loan.

Compare loan offers on the internet

Compare loan offers on the internet

A loan despite agency workers, the prospective customer can get even at a normal bank, if he meets the conditions. Many temporary workers have been with a temporary employment agency for years and receive a fixed income. In such a case, it might not be difficult to get credit from a bank. Even if a bank has rejected the application, a loan is still possible despite agency workers, because it always decides the clerk and if he believes that the creditworthiness of the customer is sufficient, then he will also approve the loan despite agency workers. The Internet makes the search very easy, because with a few clicks, different offers can be compared. However, with a slightly lower credit rating, it is important for the claimant to explain his case and make a good statement that he is capable of repaying the loan.

Take a loan with a guarantor

Take a loan with a guarantor

Unfortunately, many temporary workers have long periods of unemployment in their work history, and then it becomes difficult to get a loan despite temporary workers. One possibility is to use a guarantor. This can be a friend or friend who guarantees the repayment of the loan. Of course, this must have a good credit rating and must not have a negative private credit entry. This step should be considered well beforehand, because such deals have already broken many long-standing friendships. First, it must be agreed with the guarantor and with the bank, which guarantee is required. For example, the guarantor will be asked to pay only if the debtor is already seized and nothing can be obtained from him. The guarantor is treated in the same way as the borrower in the case of the joint and several guarantee. The guarantee may also contain restrictions on the size of the loan and the repayment term. However, it is always necessary to talk to the bank’s clerk as to how the guarantee must be that it will be accepted by the bank.

Credit from a private investor

Credit from a private investor

The possibility of borrowing money from a friend has been there before, but the Internet has brought new opportunities to fundraising. Especially those who need a loan despite temporary workers have quite new opportunities to take out a loan. Lenders and borrowers meet on various Internet portals. If you are looking for a loan, you can advertise there and wait for the offers. Conversely, he can also specifically seek a loan despite temporary workers. The offered conditions are very different here and who can provide more collateral, usually gets the better interest rates. It is also important to make it clear to the lender that you are ready to repay the money. Since there are many offers on the Internet, the chances for a loan on good terms are also very high.

Online loan immediate response Belgium

Most of the time, when you need money, it’s pretty urgent. Therefore, applying for a loan can sometimes be a problem in terms of speed.

With online credit, ask for your loan and receive an immediate response.

Credit online immediate response Belgium, how it works

Credit online immediate response Belgium, how it works

Credit applications can sometimes be tedious but thanks to the new online simulation tools, your steps become simple and effective. In addition, it is completely free and does not require any commitment on your part.

Once your bank or financial institution has been chosen, all you have to do is complete a form available on their website to indicate the capital you need and the duration you are considering for your loan. After calculating the simulator, you will have access to several credit proposals corresponding to your case.

Each offer has a number of elements that will help you make a decision. Compare all these possibilities available to you!

Online credit, its facilities

Online credit, its facilities

One of the biggest benefits of this approach is that you no longer need to make an appointment during your office hours and move to an agency.

Another non-negligible advantage is the response time. National Bank and some other lenders claim to be able to respond within 24 hours.

Also, every loan to his simulator. This is why it is essential to identify the type of loan you need.

Loan renovation, energy loan, personal credit, mortgage or credit redemption!

After analyzing your request, you will be able to read the terms of your potential future contract.

Usually :

  • The amount of monthly payments;
  • The borrowing rate;
  • The annual percentage rate of charge;

In conclusion, to apply for a loan online, is without doubt, the fastest loan application in Belgium.