MonthJuly 2019

Installment Loan – The downside to a low installment

Everyone can get into a life situation where they have to borrow money. In this case, one of the main aspects of borrowing by the borrower is how much the loan installment will be. It is worth calculating that you can pay the monthly amount with certainty and not be too burdensome for the family cashier. However, it is a good idea to know that a down payment is too disadvantageous.

No credit intermediary and disbursing organization can be an exception. In all cases, the JTM (Income Proportional Rate Indicator) is based on verified monthly net income. For the purposes of the investigation, the debtors’ income and the repayment of existing loans shall be aggregated. With this decree, the MNB seeks to protect the public from over-indebtedness.

 

Disadvantage of low installment

The JTM rule is the payload of income

borrow money

  • For an unsecured personal loan: If the borrowers have a certified monthly net income of less than 400,000 HUF, then the combined repayment installment of the existing and the new loan may not exceed 50% of the certified income, or 60% patients. Income and debt are to be treated in a consolidated manner for several co-debtors.
  • For mortgages: For mortgage loan applications with a maturity of over 5 years, the JTM rate is 25% and 35%, respectively (30% and 40% for higher earners, respectively). For loans with a fixed interest rate for up to 10 years or until the end of the term, the ratio is 50% up to HUF 400,000 and 60% for income above this. As of July 1, 2019, the decree allows for a monthly income of HUF 500,000 instead of the current $ 400,000.

 

Definition of repayment

Definition of repayment

There are several factors that control the amount of the installment. The mandatory deductible, on the one hand, and the above-mentioned debt brake, on the other hand, determine the maximum amount you can take in monthly installments.

It’s hard to be smart when it comes to defining a repayment because it’s not good if it’s too high, but neither is it too low. Both have advantages, disadvantages. It is most convenient to adjust the installment installment so that it fits into your monthly budget.

According to experts, it is not worthwhile to use the income up to the maximum load, better caution. This is because if you have a payment problem you may not be able to pay it too high in the future. If you stop paying your loan, the lender will pay you default interest and you may even be on the KHR’s negative debtor list.

The disadvantage of setting a maturity that is too long is that you pay more, even with the same APR. The reason for this is that with a long maturity, the repayment installment is lower every month, but because the time it takes to repay the loan is longer, so you have to pay more interest to the bank.

 

High credit

High credit

People are taking out more and more loans, for two reasons. One is that a personal loan is easier to obtain than a mortgage loan, and the amount you can borrow as a personal loan has been higher in recent years, up to $ 10 million. Another reason is the escaped real estate prices, which typically lead to very large amounts of money being taken up by clients when it comes to home loans. In the past, loan disbursements above HUF 10 million were rare, but today this can be said to be general. Therefore, because of the high loan amount, many people think it is safest to pay off the loan in small installments over a long period of time, even if it is more expensive.

 

Final or early repayment

Final or early repayment

People are confident that they may get a larger amount over the life of the loan, and therefore more people are using the option of early or early repayment. It is worth choosing this solution, though many are afraid of it. It is important to know that the final or early repayment comes with a fee which is not too high but you can still gain much more than you can lose. Saving a large amount or even your entire outstanding debt can save you a lot. If you can pay off only part of your loan, you will already win because there will be so much less credit that needs to be repaid, so you can even pay off less.

Borrow money without BKR review within 10 minutes – Loan

Most chosen Bankate € 800 No BKR assessment from 21 to 69 years Maximum 45 days Apply for a mini-loan LoanFor € 500 from 21 to 65 years 30 days maximum interest rate 0.66% per day Apply for a mini-loan Take out ongoing credit Max € 75,000 BKR review from 21 to 68 years old Redeem for 72 years Apply for a loan And borrow money cheaply with the mini loan? That is again difficult. Especially considering the substantial costs if you want a loan without BKR review, and also within 10 minutes. The only way to arrange a loan in a short time is to take out a mini loan. And this form of borrowing money is unfortunately not beneficial.

Incidentally, there are also some conditions from the mini-loan providers within 10 minutes for borrowing money quickly without BKR testing. For example, you must already be a customer of the providers of the mini loan.

Where can I borrow more money without BKR testing within 10 minutes?

Where can I borrow more money without BKR testing within 10 minutes?

It is not possible to take out a loan without a BKR check with the providers of personal loans and revolving loans. If we look at the commercial providers you can only go to the providers of a mini loan. If you still want to borrow money quickly, it can also be an option to borrow money privately. By this we mean borrowing money from friends, acquaintances or family. In addition to the mini-loan, this is the only option to get borrowed money without BKR verification within 10 minutes.

More options for borrowing money without BKR testing

More options for borrowing money without BKR testing

In addition to the mini-loan and borrowing money from family, there is another way of borrowing money without BKR testing. Virtually no other website discusses this way, because nothing is earned from it. The last option to borrow money without BKR testing is to borrow money from the Dutch Credit Saver. These banks do, however, carry out a review, but attach little value to any negative registrations that arise during this. The Dutch Credit Saver provide loans for social reasons. You cannot always go to these institutions, by the way. For example, if your income is above 130% of the statutory minimum wage, you cannot take out a loan with this institution.

What does the BKR do?

Because a movie is more fun to watch, than having to read a lot, below the information video of the BKR

As you can see in this, the BKR carries out various tasks on behalf of the banks. The BKR therefore only acts on behalf of the banks. If you do not agree with a negative BKR registration, it is therefore better to first contact the bank that you have registered than the BKR.

What if borrowing money without a BKR test fails within 10 minutes?

We all know that you now need immediate money, a bill that you have forgotten, a bailiff who is suddenly on the doorstep. In short, panic. However, sometimes more is possible than you would expect, and borrowing money without BKR testing is not even necessary within 10 minutes. You can consult with a garage for your car and indicate that you can only pay later. Contact your creditors. As long as you continue to communicate well yourself, chances are that you will find a listening ear with your creditors. The creditors, too, just want their money back, and sometimes they are not afraid to wait a bit longer. Provided you make clear and clear agreements with them. And this also complies.

Fast loan beneficial?

Fast loan beneficial?

Borrowing money quickly without BKR testing within 10 minutes is of course a challenge. As we have already indicated, this is by no means always beneficial. However, with a little more attention it can sometimes turn out to be beneficial. The only thing that can really get in your way is your BKR assessment if you want to take out a loan. Borrowing money quickly with BKR testing within 10 minutes can generally be much cheaper than borrowing money without BKR testing within 10 minutes.
If you want to start borrowing money cheaply without BKR testing, the best option is that you take out your loan with friends or acquaintances. Make sure that you can actually actually repay the loan!

If repayment fails.

If repayment fails.

It is of course a negative approach to discuss this at all. Yet it is something to be reckoned with.
The vast majority of Dutch people always pay back the loan on time. However, there may always be circumstances why it does not work out.
The most important tip here is to keep talking to your creditor, and do not make any unrealistic commitments. Make sure that what you promise can also deliver. This way you can prevent a lot of misery. Both for yourself and of course for the person with whom you took out your loan.

Dare to ask

If you think that borrowing money for you without BKR testing is not possible within 10 minutes, you may wonder why it is not possible for you. For example, a negative BKR registration does not necessarily mean that borrowing money is no longer possible for you. Borrowing money in the form of a mini loan or from private individuals remains possible in these cases. This is otherwise the case if, for example, you have an unemployment benefit or social assistance benefit. These are forms of benefits that are also not included in the assessment of the money loan by the providers of mini-loans. This makes it virtually impossible to get a loan agreement with the banks with such a payment.
If you want to borrow money with a benefit, you are better off with Credit Saver Nederland in these cases.

Borrow money without BKR review within 10 minutes with a benefit

Borrow money without BKR review within 10 minutes with a benefit

As stated above, it is not always possible to apply for a loan with a benefit. Most commercial banks such as Novubank and DFO Mure will not, or at least not fully include your benefit. With a number of benefits such as unemployment benefits and WWB benefits, it is not possible to take out a loan.

With a WWB (Work and Social Assistance benefit not because it is intended to provide for the necessity of life) and not with unemployment benefit, because this benefit can change to a WWB benefit at a given moment. In these cases, borrowing money without BKR testing is not possible within 10 minutes. Fortunately there are still benefits that are included in the calculation for a loan. You can think of the WAO benefit, the WIA benefit or pension income.

Do you have a benefit that cannot be included? But do you still want to take out a loan? Then there are really only limited options. In addition to borrowing money from acquaintances already mentioned, you can then apply for a loan from Credit Saver Nederland. This is not just for debt restructuring. You can also go here for an “ordinary” loan.