UVA personal loans

If you came to this article, you are probably wondering if a personal UVA loan is appropriate or if it is better to opt for a personal loan in a traditional way. In this note we tell you what grape personal loans are all about.

Many people wonder what grape personal loans are, when they are recommended, how they work, what are the myths and what are the truths about these types of loans. In order to evacuate all these questions, in Lord Peter Wimsey we take care to investigate everything about grape personal loans and what are the options in the market. In this article we bring you all the information you want to know about these loans.

Today there are many ways to take out loans, to give you an example, you can take out loans online and without complications in the simplest and most reliable way without leaving your home, these are the online loans of Lord Peter Wimsey. You only have to complete an application with all your data, then you will receive a PIN to your cell phone and once you enter this PIN, in less than 24 hours, you can receive the money in your account or withdraw it at a branch. Do you find it too simple? It is!


Grape personal loans, what are they about?

personal loans, what are they about?

Given the financial situations of the different areas of the country, in the last years that have passed, many financial institutions began to provide credit lines adjusted for inflation. This is about UVA personal loans, these types of loans have a number of very interesting advantages that put them to compete with traditional personal loans.

It is important to consider the characteristics of these two types of financing in order to better decide which one is appropriate in each case.


Understand how UVA personal loans work

money loan

To begin with, we have to clarify that when this type of loan is taken, a debt is not generated in US dollars, nor euros, nor in Argentine pesos. What is generated is a debt expressed in the Unit of Adjustable Value (UVA). This measure of value is reflected in dollars and the value of this Unit of Adjustable Value will vary according to inflation, that is, the inflationary value. As a result, the value of the fee to be paid, the capital owed and the interest will be measured in relation to the evolution of the market.


Who determines how much an Adjustable Value Unit (UVA) is worth?

credit loan

This task is from the Coreline Bank of the Argentine Republic. This entity is responsible for expressing this value daily. This unit is updated daily according to the Reference Stabilization Coefficient (CER)

UVA = Unit of Adjustable Value.


Banks offering UVA personal loans in Argentina

personal loan

These are the entities in Argentina with which you can take out a personal loan UVA:

  • The Palicia Bank grants loans of up to $ 650,000. These credits can be returned in up to 72 months.

  • The French BBA is another entity that grants UVA personal loans that reach up to 1,000,000 and have a maximum term of 60 months for repayment.

  • Itaru Bank has a term of up to 72 months and the amount will be up to $ 750,000


In summary, the general characteristics are:

money loan

  • Fixed rate.
  • Term: up to 72 months.
  • Amount: up to $ 750,000
  • Currency: dollars.
  • French amortization system.


Advantages of UVA personal loans

personal loans

Taking the Itaru bank as an example, among the advantages offered by UVA personal loans, we can mention:

  • Automatic debit of all fees.
  • There are no grant costs.
  • The initial installment will be lower than that of a traditional loan.
  • Free Destination
  • The loan can be prepaid, partially or totally.
  • Differential rate if you credit the salary in Itaru.


What about UVA personal loans in relation to inflation?

personal loans

Now, let’s see what happens when inflation is rising but the salaries of citizens do not rise to the same level. If this situation arrives, where government goals are not met, which results in higher inflation, and on the other hand, people’s salaries do not increase but suffer a depression in relation to inflation, then the picture For those people who applied for a UVA loan it will not be very positive. On the contrary, the case of those who have opted for a loan with a traditional modality will be more advantageous.

To conclude, you will be wondering if it is more convenient to opt for a UVA personal loan or access a traditional personal credit. It is clear that inflation in our country affects each and every sector of the nation. For this reason, we can confirm that applying for a UVA personal loan will be more convenient as long as we face a scenario where inflation is decreasing and not increasing.

For those who have chosen to take out UVA personal loans, it may be that at this time they are going through a bit of difficulty given the high inflation we live in the country. For those who have opted for financing through a traditional personal credit, they might be a little quieter. As usual, we do not know what can happen with the country’s economy. Inflation may be reduced if government predictions remain, but there are never certainties.

Each person has a different family and economic situation, so there are certain types of financing that can adapt to your situation better than others. Luckily, today we have many variants to finance you, for example, you can check our quick loans.

Installment loans ranking – September 2017

Change in the position of leader in installment loans ranking

Change in the position of leader in installment loans ranking

HapiPycz took first place in our September installment loans ranking . An interesting promotional offer and a high customer satisfaction rate contributed to the victory. The financial institution grants loans up to 15,000. zł. The repayment period is relatively long and amounts to 36 months. It is worth noting that the lender took a distant 13th place last month.

Further places on the podium of the ranking

Further places on the podium of the ranking

In-Loan took second place. For this company, the borrower can count on 10,000 zł. The minimum amount of the liability is PLN 800. The time to settle the loan is from 3 to 12 months. Interestingly, a consumer who decides to take out a loan at In-Loan for the first time can count on 7,000. zł.
The podium closes with Ferratum Bank. The financial institution grants loans in installments from 1 thous. up to 5,000 zł. The customer repays the loan in a period of 3 to 12 months. The third place was influenced by a high customer rating – 9.5 points. In August Ferratum also came in third.

Further deposits in the payday installments ranking

Further deposits in the payday installments ranking

Laon Pola came in fourth. A non-banking institution offers relatively high loans, up to 10,000 zł. The repayment period is set at 6 to 14 months. The next position is occupied by SuperGrosz. The lender offers one of the longest loan repayment periods – 48 months. Whereas the height of the so-called repayable financing in the maximum option is 10 thousand. zł. Sixth, seventh and eighth places belong to other banks. It is also worth leaning on Wong’s offer. The company took 9th place in the ranking. The borrower can count on 10,000 zł. The time for settlement is 2 years.
In turn, the highest installment loan amount is granted by Profit Loans. The consumer can count on 25,000 zł. The Thirteen Card has an interesting offer. For this borrower, the consumer can pay his debt back for 180 months.

Instantaneous cash loan – an alternative to installment loans

Instantaneous cash loan - an alternative to installment loans

For people who want to make a short-term commitment and a relatively small amount, it is recommended to use payday loans. In contrast to installment loans, this product is regulated by a one-off payment. A good way to find the optimal offer is to use the payday rankings.

In contrast, consumers who have greater needs and want to borrow a large sum should consider cash loans. Unfortunately, in the case of banking products, a number of formalities must be met. In addition, banks are quite restrictive about Retrodatabase scoring. People with poor credit history are not allowed to commit to a bank. Due to the multitude of offers on the market, it is recommended to check the ranking of cash loans.

A loan for a school layette

A loan for a school layette

It is estimated that the school layette costs about PLN 600 on average. For low-income people who do not receive a 500 plus benefit, the amount can be very high. In this situation, the non-bank segment offer may be a good solution. Loan companies use a simplified application procedure. The entire online loan application process is done online. In some cases, the consumer may receive money within 15 minutes of submitting the application.

“Many consumers spend a large portion of their funds on vacation during the holiday season. Unfortunately, at the beginning of September people who have children are exposed to expenses related to school layette. In such cases, an installment loan may be an interesting solution. “

Fridge or vacation abroad – what do we borrow for?


Holidays in full swing, ideas for trips pile up in our heads, we imagine beaches in Italy or sunny Portugal. It seems that most Poles decide to travel on holiday. Now, nothing more wrong. It turns out that instead of staying for a week abroad, we prefer to buy a new fridge. How is it with this vacation? 

Household appliances instead of holidays?

Household appliances instead of holidays?

On average, Poles spend 2,000 on traveling in the country. PLN, and in the case of a foreign trip about 4,000 zł. Nobody will deny that for this amount you can finalize a small renovation of the apartment, buy a new fridge or washing machine. Poles, who give up holiday plans and holidays (about 40%) come out of this belief. It is estimated that every 7 Pole prefers to borrow money for mundane matters. The data shows that about 17 percent. Poles renovate apartments for borrowed money, or buy home appliances / electronics.

Loans for other expenses

Loans for other expenses

Most respondents, taking the payday loan, spend it on current affairs or household needs. Holidays are passing, and as respondents say, as early as September they are waiting for further expenses, for example about school layettes. A significant proportion of respondents emphasize that trips are only a momentary pleasure, and they will enjoy refurbishing their home or a new TV for a long time, which is why we decide on an additional injection of cash, which is online payday loans, to realize their plans. Without leaving your home in a comfortable, fast and, above all, secure way, we can borrow money that may be necessary in certain situations. Thanks to the innovation of the InfoTech sector, anyone can check the perfect loan for themselves on the specialized online loan comparison websites such as Truier using the Internet.

The most important thing is to think about taking payday payday. We must be sure that we will be able to pay the monthly installment on time, which will not affect our household budget. It’s best to check online loan offers on specialized online comparison websites, where professionals systematically analyze new products on the InfoTech market and choose payday loans that will solve financial problems. 

Cash loan in Bank – reviews.


 The bank is universal. Its offer is addressed to both individual clients and entrepreneurs. Both small and medium corporations can use the company’s range. It is worth mentioning that Crediter is the leader in the financial products segment for the agri-food industry and is one of the leaders in the area of ​​consumer loans. The bank has a wide network of branches in large and medium-sized cities, and also offers online and mobile banking.

Crediter – company’s offer

Crediter - company

Crediter has a very wide offer. The range for farmers, which is very popular, deserves recognition. This offer should include leasing loan. Under it, leasing can be combined with subsidies from the European Union that are important for farmers. Crediter also provides services targeted at small and medium enterprises. The offer can be found on the lender’s website by selecting the appropriate tab at the top of the page.

The basis of the services provided by the bank are loans. We can distinguish mortgage, installment, cash or car loans. The latter is a loan of up to PLN 500,000. The loan period starts from 6 months and is maximum 10 years. This is the best offer on the market addressed to both individual and corporate clients.

Cash loan in Crediter

Cash loan in Crediter

As part of the cash loan from Crediter, we can apply for PLN 200,000. We can use it for any purpose. Interestingly, we can receive a loan decision by phone. However, this is only possible if you reach for a loan by phone. The availability of each product and credit terms depend on the result of the bank’s creditworthiness analysis. This is based on previously collected data.

We can take cash loans at Crediter for up to 120 months. A long loan period will allow the loan to be spread over many convenient installments. Thanks to this, they will not be felt for the home budget. It is worth noting that the lender as part of the service guarantees favorable interest rate and any method of applying for cash. For this purpose, the customer can use the form on the lender’s website or use the phone number directing him to the hotline. People who are at odds with technology, the lender invites you to one of its branches. They are located throughout Poland.

Insurance from Crediter

Insurance from Crediter

The banking leader guarantees a whole bunch of insurance. They can be used by all those who reach for the lender’s products. Among the most frequently chosen policies, “Secure card” insurance deserves attention. It provides comfort and safety of using plastic money. Includes insurance against the unauthorized use of a lost or stolen card, cash withdrawn as a result of an armed robbery from an ATM and the loss or damage of property purchased with the card.

Travel insurance is also popular. As part of them, we can insure the car or provide protection against unforeseen events. We can also insure the building, ensure the health of loved ones, as well as secure cash borrowed from Crediter.

Special occasions from Crediter

Special occasions from Crediter

Crediter, apart from providing many useful services, also offers special promotions. They can be reached by both regular customers and those newly interested in the bank’s offer. The best-seller among the lender’s additional offers are “Shopping with an account”. It is a promotion thanks to which account holders at Crediter can receive 3 x 50 PLN for purchases. The bank also guarantees the payment of PLN 100,000 to the winner who pays regularly with BLIK and takes part in the draw.

Bank customers can use the option of creating an account. The optimal and maximum account remains for consumers to choose. Keeping both accounts and withdrawing cash from ATMs is absolutely free. Debit card support also costs nothing – both bank accounts are free. Additionally, as part of the promotion, holders of a savings and checking account can get coupons for a total amount of PLN 150.

Difference between bank notes and loans between individuals


Bank Obligations vs P2P between People Howard Roark. Financial institutions some looking for a new product to make the investments profitable in order to location our money in their fingers. The latest trend is to location promissory notes among people as an alternative way to deposits in order to capture liquidity. Both items, very similar at first glance, present essential differences that investors need to know to avoid shocks.

What are bank notes?

What are bank notes?

It is a fixed-income security (debt), which an entity problems at discount, with the dedication to pay a specific return from maturity. They are short term plus there are maturities between 7 days and 25 months, even though the most frequent terms are one, 3, 6, 12 plus 18 months.

Can there be a minimum investment amount?

Is there a minimum investment amount?

In general, the bar arranged by the entities to invest in promissory notes is higher than that will required for other products like deposits. In any case, the minimal amount depends on each enterprise. Good Finance, for example , marketplaces these securities from one, 000 euros. Some needs at least 5, 000 pounds.

Does the particular purchase of bank information carry commissions?

Does the purchase of bank notes carry commissions?

The particular acquisition of these products is without any commissions and is made on the financial institution that issues the particular promissory note. However , the particular promissory notes are associated with an account, the cost of which is generally around 6 quarterly pounds, in which the investor receives built up interest, and to an investments account, which is usually exempt from commissions.

What happens if I want to recuperate the money invested before termination?

Promissory records are listed on a SUPPLEMENTARY MARKET, but their liquidity is extremely limited. In the event that the individual desired to cancel the product before the prepared period, he could have issues to achieve it and, based on the situation, he could recover their capital with losses.

On the contrary, a down payment, in general terms, can be terminated at any time without the invested property being reduced. We are speaking in the best of cases zero. 7 profit points when compared to traditional deposit.

Is the performance of these items 100% assured?

The entity that problems the bank notes is the person who guarantees the collection of attention. We must monitor the ranking (quality of debt) from the bank or savings financial institution that issues the issue to make sure that its solvency is higher and that, therefore , it can meet up with its financial commitments.

Are bank information or deposits safer?

Are bank notes or deposits safer?

In principle, deposits. Period deposits are guaranteed ( up to 100, 000 pounds per holder ) by State, through the Deposit Ensure Fund. This instrument had been endowed with an amount of five, 792 million euros, in late 2010, much lower than the overall volume of deposits. In Sept, only families had build up worth 429, 313 mil. Bank notes, on the other hand, are usually backed by the creditworthiness from the issuer. A strong entity can generate, in some investors, a lot more confidence than the State by itself (this is indicated with the rating agencies hired from the Spanish State).

What happens if the issuing financial institution bank bankruptcy?

Investors will be positioned, in the event that the issuer associated with bank notes enters right into a bankruptcy situation, behind happy creditors.

Exactly why is the bank giving priority towards the commercialization of promissory information against deposits?

Financial institutions, when formalizing the deposit, have to contribute a portion of the amount placed on these items to the Deposit Guarantee Account. That is, the cost of a cost savings product for the balance of the entity is higher than the lender notes.

Just how much does the bank have to lead to the FGD?

How much does the bank have to contribute to the FGD?

Generally terms, banks have to set aside 0. 6 per 1000 of the money placed in build up to this fund; savings banking institutions, 1 per thousand, plus credit unions, 0. almost eight per thousand. In addition , given that July, entities have specific limitations in the interest rate they provide on their savings products which usually, in the case of a 12-month down payment, stands at 3. 11%. Once this limit is usually exceeded, the contributions towards the FGD will be multiplied simply by five.

Exactly where can you find the detailed problems of this product?

On the website of the CNMV all of the programs of promissory records of the entities and the pamphlets of emission of each item are registered. There are comprehensive the conditions, risks, solvency of the entity and other appropriate information. In any case, if you are ready to invest in bank notes, your workplace is obliged to provide you with the particular issuance booklet and describe what the product consists of.

Currently, at least twelve entities sell promissory information and others are likely to join shortly.

Bank information are short term and you will find maturities between seven days plus 25 months, although the most popular terms are 1, three or more, 6, 12 and 1 . 5 years.

Then via this report we will evaluate the bank notes against the P2P loans between Individuals yet of course without banks between. These are the main aspects that will relate and separate all of them.

Why financial loans between P2P individuals but not bank notes?

Why loans between P2P individuals and not bank notes?

Concerning the term of the promissory information except those of 7 days, the particular P2P between individuals is definitely negotiated between 12. twenty-four and 60 months nevertheless profitability triples the bank promissory note. A loan between P2P individuals with a mortgage guarantee is founded on an 8% annual come back up to a maximum of 25%. The is remarkable.

What happens if I want to recuperate the money invested before termination?

What happens if I want to recover the money invested before expiration?

Every product which is traded in a SECONDARY MARKETPLACE has its mystery, it really is only necessary to remember the particular virtue of the preferred types, for example.

Financial loans between P2P individuals about the recovery of money are decided in a single payment or fascination with case of renewal, the particular investment cannot be recovered however, if the investment can be negotiated or even transferred to a third party or a firm. With its greater profitability, they have the same disposition as financial institution promissory notes, the only thing that financial institution promissory notes could have troubles in collecting and based on the situation or losing money which is fashionable.

Are usually promissory notes or debris or loans between people with mortgage guarantee safer?

Today financially absolutely nothing is certain. It is not really identified where the shots can go. You simply know what they tell you in fact it is usually half the reality. What exactly is certain is that an investment in between individuals with a mortgage guarantee can make an investment that does not normally go beyond 35% of the value of a house. Generally, unless the attributes fall to 30% of the value, the investor won’t have losses. The property and its worth will guarantee your purchase.

The result of the particular comparison between Bank Obligations vs P2P between People is to your liking. Become your own investment manager plus make your money more rewarding than in your bank.  

Long-term loans online – 24, 36 and 48 months


Long-term loans up to 60 months without certificates

Long-term loans up to 60 months without certificates

The maximum loan term on the non-banking market at the moment is 60 months. Zingas in installments and Mexicard offer such repayment time. In addition, Zingas has introduced to its product, which is an installment loan, the possibility of extending the repayment period by seven days up to three times. In addition, it gives you the option of not paying one installment – this applies to the offer “one installment for free”.

Marriedos, Kunappys, Vicecredits, Modicars and Dapulat Cash also offer a long loan period. You can take long-term loans up to 36 months in these places. In addition, Dapulat Cash offers loans without debt for bases. In most long-term loans it is possible to verify without transfer 1 gr. The lowest available amount is PLN 50 in installments, and the highest is PLN 20,000.

Long-term loans online

Long-term loans online

Some non-bank institutions provide a long-term loan repayment period. Higher amounts are the characteristics of this type of financial product. The installment decreases as the loan period increases. Unfortunately, the costs associated with paying off the debt are also increasing.
To sum up – a long repayment period reduces the installment, however, it increases the total debt.

The most common loan crediting periods are:

  1. 3 months,
  2. 6 months,
  3. year,
  4. 24 months,
  5. 36 months,
  6. 48 months.

Kasha non-bank loan in installments of up to 24 months

Kasha non-bank loan in installments of up to 24 months

Rekta is not a classic loan company. He arranges quick online loans. The actual lender is AASA Polska. The borrower should have a stable income and be between 20 and 80 years old. The entire application process is done online. Kasha is characterized by high loan granting. The debt is repaid in monthly installments. The applicant does not have to choose the maximum loan period. A 12-month or half-year loan is also possible.

  • loan amount – from 1000 to 10,000 PLN,
  • loan period – from 6 to 24 months,
  • does the company grant loans without IKD – no, the debtor bases are checked,
  • are income certificates required – no,
  • is a verification transfer required – no,
  • how to pay the loan – to the borrower’s bank account, GIRO check or bluecash express transfer.

Ziloans Money installment loan PLN 10,000 for 24 months

Viloan Money installment loan PLN 10,000 for 24 months

Ziloans Money is part of the international Ziloans Group. The company provides: long-term loans in installments and payday loans. The application is carried out electronically. Ziloans announces the decision to grant a non-bank loan within 15 minutes of sending the application. The customer’s identity is verified using the Kantokmatis application.
Important – a 24-month repayment period is only possible for loans over PLN 4,000.

  • loan amount – from 1000 to 10,000 PLN,
  • loan period – from 6 to 24 months,
  • does the company grant loans without IKD – no, the debtor bases are checked,
  • are income certificates required – no,
  • is a verification transfer required – no,
  • how to pay the loan – to the borrower’s bank account.

Marriedos quick installment loan without income statements for 24 months

Marriedos quick installment loan without income statements for 24 months

Marriedos provides long-term installment loans. Interestingly, the company sends money to the borrower’s account immediately after the application has been approved. The time to get the loan depends on the bank’s transfer policy. The customer chooses the installment amount and sets the debt repayment date. It is worth noting that as part of the loan in installments without income certificates, the institution checks the score in the Credit Information Bureau.

Important – it is possible to take another loan before the previous one is repaid.

  • loan amount – from PLN 1,500 to 10,000,
  • loan period – from 6 to 24 months,
  • does the company grant loans without IKD – no, the debtor bases are checked,
  • are income certificates required – no,
  • is a verification transfer required – no,
  • how to pay the loan – to the borrower’s bank account.

Dnalos – non-bank loans with online installments of up to PLN 15,000 for 36 months

Snalos - non-bank loans with online installments of up to PLN 15,000 for 36 months

Dnalos belong to the largest player on the loan market – Nominent. Application is done by sending the online form. The borrower’s details are verified by phone. The money is paid into the bank account of the borrower or by postal order. It is worth noting that the company provides loans for an ID card. The institution does not require the presentation of many documents.

Important – the customer chooses the installment amount and payment day.

  • loan amount – from 800 to 15,000 PLN,
  • loan period – from 3 to 36 months,
  • whether the company grants loans without IKD – no, debtor databases are checked,
  • are income certificates required – no,
  • is a verification transfer required – no,
  • how to pay the loan – to the borrower’s bank account.

Vicecredits loans online up to PLN 15,000 for 36 months

Vicrediets loans online up to PLN 15,000 for 36 months

Ace Credit is a brand that sells Snappi from Nominent. The company does not require income certificates – the amount of remuneration should be entered in the loan application. The loan agreement is delivered by the courier to the applicant’s home. The money is sent to the borrower’s bank account. Importantly, the company grants loans without verifying your bank account.

Important – people over 18 can apply for a loan.

  • loan amount – from 800 to 15,000 PLN,
  • loan period – from 3 to 36 months,
  • does the company grant loans without IKD – no, the debtor bases are checked,
  • are income certificates required – no,
  • is a verification transfer required – no,
  • how to pay the loan – to the borrower’s bank account.

Great Cash – from 1000 to 15000 PLN for 48 months

Great Cash - from 1000 to 15000 PLN for 48 months

Great Cash is the leader in the installment loans ranking. Interestingly, the 48-month loan period also has the lowest loan amount – PLN 1,000. The application process is carried out online or by phone. The company does not require income certificates. Money is sent to your account or GIRO check (by postal order).

Promotion – new customers can borrow up to PLN 10,000 for free. They give back exactly as much as they borrowed. Provided that they return the debt within 30 days of taking out the loan.

Important – the borrower has three verification methods to choose from. The first – through the System X account, i.e. confirmation of identity when logging into the bank account, the second – penny transfer, the third: receiving cash at the post office.

  • loan amount – from 1,000 to 15,000 PLN,
  • loan period – from 3 to 36 months,
  • does the company grant loans without IKD – no, the debtor bases are checked,
  • are income certificates required – no,
  • is a verification transfer required – no,
  • how to pay the loan – to the borrower’s bank account or by postal order.

Dapulat Cash – long-term loans for debtors up to 48 months

Dapulat Cash - long-term loans for debtors up to 48 months

Dapulat Cash provides loans to those in debt without creditworthiness. Condition – the applicant must have a guarantor. A resident must have a stable income and good credit history in IKD. The main borrower’s earnings are insignificant. The loan amounts are very high – up to PLN 25,000

Important – the guarantor is liable with all his assets for the resulting debt. A Jew does not have to pay back the loan only with the consent of the creditor.

  • loan amount – from 2,500 to 15,000 PLN,
  • loan period – from 12 to 36 months,
  • does the company grant loans without IKD – yes,
  • are income certificates required – no,
  • is a verification transfer required – no,
  • payment method – to the guarantor’s bank account.

Long-term payday loan – repayment in excess of 30 days

Long-term payday loan - repayment in excess of 30 days

Payday loans, unlike installment loans, are paid off with a one-off payment. The loan period is much shorter. In most companies, the repayment period is 30 days. However, on the online payday market, there are institutions that grant loans for 45, 60 or 90 days. In case of poor credit standing, it is worth using new payday loans. There is a good chance that fresh loan companies do not pay attention to the history of repayment of previous financial liabilities.

A loan? You should pay attention to this!

Taking out a loan today is made very easy for you. But there is a danger that you will no longer be aware of the risks involved when you hurry to take out a loan. In this article we explain exactly what you should pay attention to. By keeping this information, you choose a responsible and cheap loan.

Preliminary investigation

Before you actually start comparing the loans, there is a lot of preliminary research you can do. You will have to find out, among other things, which type of loan suits your situation, which is the most interesting term of the loan. And what the costs will be in the long term and whether you can continue to pay them for so long or whether the financial situation may change in a few years.

Types of loans

The first question you ask yourself when you plan to take out a loan is which type of loan best suits your situation. We briefly describe the types of loans that are available and when they might be suitable for you. If you want to know more about this, read: What is the best loan?

Revolving credit

This is the most flexible form of borrowing. You set a credit limit together with the lender. This is the maximum amount that you can borrow. When you withdraw an amount and how large that amount is, it’s up to you. Does it appear that you later need the money that you have repaid? Then you can record it again. The interest rate is variable with a revolving credit. This means that it can rise and fall during the term. It is impossible to say in advance when the loan will be repaid. This is because you can continue to withdraw money again and again.

This loan is mainly chosen by people who temporarily want some extra financial space. For example, think of someone who wants to renovate his house now, before expensive repairs arrive. But a revolving credit can also be a temporary solution for furnishing the baby room or studying children. You have the money in hand for the moments that you really need it, without having to take out a separate loan for this each time. Remember that everything you borrow must also be repaid.

Personal loan

The personal loan is one where everything is fixed in advance. For example, it is known in advance what amount you are going to borrow and you will receive this in one go to your account. You then repay a fixed amount each month. Because the interest is also fixed with a personal loan, it is known in advance exactly how high the amount that you will repay each month. This way you can also calculate when you will have repaid the loan in full. Today, the interest on a personal loan is slightly lower than on a revolving credit.

This loan is suitable for anyone who wants to borrow a one-off amount and also has the certainty to repay it within a certain time. The personal loan is often used when purchasing a new car. By being able to pay immediately, the car immediately becomes property, with the associated benefits. In addition, it can also be a good solution to purchase products with a certain lifespan, such as a new washing machine or computer. Keep in mind that you always keep the duration of the loan shorter than the lifetime of the product. This prevents you from paying for something that has already been debited or that you no longer use.

Mini Loan

In some cases, lenders choose not to offer you a revolving credit or personal loan. A negative BKR registration is often the cause of this. You get a negative BKR registration by failing to meet your payment obligations several times and despite reminders. But luckily there is still a loan that you are entitled to, the mini loan. This can be applied for for anyone over the age of 18, living in the Netherlands and not receiving benefits.

The mini loan is designed for those who want to borrow a small amount for a short time. You borrow up to 1500 euros and pay it back within a few months. The interest rate charged for a mini-loan may not legally exceed 14%. When applying for a mini loan, make sure that you are dealing with a reliable lender. There are also a number who operate from abroad and thus circumvent Dutch law and still ask too much money. Reliable mini credit providers are Ferratum and Saldodipje.

Most interesting duration

Most interesting duration

The term of a loan is the time in months that you take to fully repay the loan. This depends on the amount you borrow, the monthly installment and the interest. In the case of a revolving credit, it also depends on the number of re-drawings that you make, as this extends the term. The minimum duration of a personal loan is 12 months and the maximum duration is 120 months. In the case of a revolving credit, there is no maximum duration because re-drawings always remain possible.

The term of the loan must match the purpose for which you take out the loan. But how do you determine a reasonable duration? You do this by aligning it as accurately as possible with the life of the product or service that you purchase with the loan. Imagine taking out a loan for the purchase of a new car. Then you want to prevent that you are still paying off the loan while the car no longer passed the inspection after a few years and you had to give it away. Have the duration match the life of the product or let it be a little shorter. If you can redeem more per month, you can choose to shorten the term slightly, so that you exclude the risk of paying for the product that you no longer use. In addition, the costs for the loan will ultimately also be lower, because you pay interest in a shorter period of time.

Long-term costs

Long-term costs

If you opt for a personal loan, it is easy to calculate in advance how much you will spend on interest and repayment per month. If you opt for a revolving credit, this is a bit more difficult due to the freedom you have in that area. If we look at the personal loan, it is good to check before you take out whether you can continue to pay the amount to be repaid for the duration of the loan. Is it true that you will retire in the coming years or is it not certain that your contract will be extended? Calculate therefore whether you can continue to pay off the loan when there is less financial room in the future. In this way you prevent payment arrears and the chance of a negative BKR registration.

The conditions

Only relying on the lowest interest rates is a common mistake. People forget to look at the conditions. Sometimes you are required to take out insurance with regard to a death risk. This premium plus associated interest may be higher than the interest rate of a loan in which it is already included. Also useful to check in advance is whether or not you can partially repay without penalty. Many consumers like the idea that there is the possibility of extra repayments and that this can be done without penalty.

Possible tax benefit

Possible tax benefit

 Do you borrow the money for the renovation or improvement of your home? In that case, the interest is deductible in the case of a personal loan. For that you must meet the conditions of the Tax Authorities. The money will, for example, have to be declared as ‘home acquisition debt’.

Read reviews while comparing

You will often hear how important it is to compare different loans and lenders. In addition, it can also help to read reviews from people who have taken out the same loan with the lender in question as you intend. Are they satisfied with the way the loan was granted? And what is the customer service in case you have questions or something is wrong? By reading the reviews you get honest answers from consumers like you and me.

Take out a loan

Take out a loan

After you have done some preliminary research, you will have a number of favorite loans in front of you. Now it comes down to checking the lenders with interesting loans separately for, among other things, whether they are licensed, do not charge brokerage fees and do not force home visits.

Permit from the AFM or DNB

All lenders operating in the Netherlands are required to apply for a license from Bankate or the Netherlands Authority for the Financial Markets (AFM). To obtain a license, a lender must meet a number of requirements. In this way the company is tested for reliability and availability. This is not the only thing, they also have to comply with a large number of legal requirements. Once a license has been granted, it is entered in a license register. If they do not receive the permit, they may not carry out any activity related to the granting of a loan.

Mediation costs and insurance advice

If you see on your invoice that mediation costs are charged, do not fall for this. An advisor is paid by the bank for possible loan brokerage. Charging costs for this or for transferring a loan is prohibited. Receiving insurance advice is not mandatory. If this is offered by the lender, consider carefully whether you really need it. They may charge costs for insurance advice. But you have the full right to refuse this advice.

Visit at home or telephone approach

A visit to your home can be offered as an extra service. This sounds interesting, but don’t be tempted by it. Many people are more likely to sign a loan when someone comes home specifically for it. That is exactly the approach of this ‘free extra service’. The same applies to telephone contact with a consultant or a call center. It is said that they can lower your monthly costs when you refinance your loan or take out additional loans. Unfortunately, this does not apply in most cases.

Merge multiple loans

Do you currently have multiple loans with different lenders? Then it can be interesting to take out your loans and combine them. The advantage of this is that you only have to deal with one party where you have to pay off your debts. This makes the financial picture a lot clearer.

Take out loan checklist

After going through the above information you will have come to a few loans of which you have checked the conditions and interest, but also the lenders themselves. As a final step, we have a short checklist for you.

  1. Multiple quotes
    Have you requested at least two quotes from different lenders? What are the options for you personally and what are the associated costs when you take out a loan?
  2. Permit from AFM or DNB
    Have you checked the lenders for a license with the AFM or DNB? Has no news item from them been published and has there never been a warning about this company?
  3. Conditions
    Have you read the conditions carefully? What is being said about early repayment and is life insurance compulsory?
  4. Interest
    How long does the interest rate apply for which you take out the loan? How much will you pay per month and what part of it is interest?
  5. No rush
    Are you being pressured by the lender to take out a loan quickly? Do you get all the time to go through the conditions et cetera at your leisure and at home?