All about marriage credit

 

Marriage is an important moment in the life of a couple. However, the organization of this event requires a substantial budget which could discourage lovers. Fortunately, we can use marriage credit to achieve this.

Financing your marriage with a marriage credit

Financing your marriage with a marriage credit

You can finance a marriage in whole or in part by taking out a consumer loan. It is a marriage loan which is part of an unrestricted loan. This credit formula is distinguished by the absence of proof of use of funds from the borrower. The latter may freely use the money obtained for his various expenses. These include, for example, the dress, the costume, the ceremony, the caterer or various providers.

On the other hand, a restricted credit is linked to the acquisition of a good or service. The borrower is required to provide supporting evidence for obtaining the credit. It can be, for example, an order form for the purchase of a new car. For the wedding credit, the borrower can get up to $ 21,000. The duration of the loan varies according to several criteria. These parameters relate in particular to the monthly repayment capacity.

If you can handle high monthly payments, credit will be less expensive.

Determine the rate and cost of the wedding credit

Determine the rate and cost of the wedding credit

When analyzing marriage credit offers, one must take into account its rate. It is therefore a good idea to compare the Annual Effective Annual Rates (APR). This includes the nominal rate or the interest rate paid by the lender. The APRC also includes various credit-related costs, such as application fees. These are generally present as part of a wedding loan. However, some lending institutions do not charge for it.

In general, lenders offering low APRs are around 1%. These rates are only applicable for small amounts. They are also granted for short durations (12 months). Furthermore, the APR largely influences the total cost of credit. The latter will also depend on the duration of the credit. The total cost of the credit determines the amount you will actually pay in the end.

One should choose short durations and high monthly payments to minimize the cost of credit.

Tips for simulating a wedding credit

Tips for simulating a wedding credit

We must first make an exact point on his needs. Indeed, it is necessary to define the amount of credit that can be borrowed for the marriage. To do this, we make a precise inventory of planned expenses. Just use a wedding budget simulator available on the Internet. The repayment duration must also be defined. In addition, we must determine the deadline that we can support each month without breaking the bank.

A household’s repayment or debt capacity must be less than 33% of its income. It is advisable to stay below this limit. Other than that, you have to compare several offers of wedding credit. To do this, you must go to the site of online banks and credit organizations. You can perform your simulations alone on the Internet. Just fill out a form on each organization’s website.

Loans with and without Credit Bureau information

If your Credit Bureau has no negative entries, a normal loan is usually the cheapest option. But what if negative characteristics are stored about you? At many large banks, the credit check ends with a rejection at this point. If you still want to take out a loan, all you have to do is take a Credit Bureau-free loan

Loans with or without Credit Bureau information

Loans with or without Credit Bureau information

Credit Bureau-free loans are, however, only available to a limited extent, and there are usually higher interest rates. A free credit inquiry from Fine Bank brings you a good deal closer to the solution to your problem. The experts will check all credit options with and without Credit Bureau in parallel to find the best option for you in the end.

Fine Bank can point to more than 40 years of experience and is optimally networked in the financial scene. The brokers maintain excellent contacts, especially with the smaller banks in the second row. The lenders are located in Germany and abroad. Negative features at Credit Bureau are often not a problem for partner banks, so that a loan can be paid out despite a “bad Credit Bureau”.

This is how Fine Bank finds your desired loan

This is how Fine Bank finds your desired loan

Fine Bank always tries to go this route first. The goal is to find the best loan for each borrower. Since regular loans are almost always cheaper than loans without Credit Bureau, they have top priority. The Credit Bureau-free variant only comes into play when it becomes clear that no loan can be realized in this way. Fine Bank takes care of this automatically, without the prospect having to make a new application again.

The advantages for borrowers are obvious: You do not have to apply to various lenders for loans with and without Credit Bureau. Instead, a free inquiry at Fine Bank is sufficient. If a regular loan is feasible, the experts will present an appropriate solution. If it is not possible to obtain a normal loan, they will help you to take out a loan without Credit Bureau.

Is it difficult to get a loan despite small income?

Each bank links lending to certain conditions. This also includes a regular income, which should be at least high enough to ensure that the monthly loan installments are paid. Otherwise, lending becomes very difficult.

Compare loan offers

Compare loan offers

Before taking out a loan, every bank customer should be aware of what loan amount they need and how high the monthly repayment rate can be. If you only have a small income, you will hardly be able to get a loan with a total amount in the six-digit euro range. A small loan in the amount of 1,000 to 5,000 dollars can, however, be realized. An essential requirement for this is that the Credit Bureau information is in order.

A loan despite a small income can not only be taken out at the house bank, but at almost every German bank. Many direct banks that do not have an extensive branch network have particularly favorable conditions for a small loan. A comparison on the Internet can provide more detailed information, which can be carried out at any time of the day or night and is constantly updated.

Loan collateral

Loan collateral

If the income is significantly below the garnishment exemption limit, the bank cannot accept it as the sole loan security. This problem will mainly affect low-wage earners or part-time employees, but also full-time employees from certain professional groups who earn very little income. The number of people who are unable to make a living from their work despite full-time employment and who have to receive supplementary social benefits has increased significantly in recent years.

If you have a well-earning spouse, you could use him as a guarantor or as a co-applicant for the loan despite a small income. However, this person should be aware that they will have to pay for the loan installments if the actual borrower is no longer able to do so. Other collateral that the bank is happy to accept is life insurance, a custody account, a debt-free property, or larger cash assets.

Application and approval

Application and approval

A loan despite a small income can be applied for either in a bank branch or on the Internet. The first-mentioned variant has the great advantage that the bank advisor can contact the customer immediately with personal questions. An online application is possible around the clock and is not tied to certain bank opening times. If there is no direct contact between the bank advisor and the customer, the credit documents must be sent using the PostIdent procedure.

To do this, the customer must go to a post office counter and present his ID there. If the identity is clearly established, the credit documents are forwarded to the bank. Now you can decide on the loan application. If all the requirements for a loan are met, the loan can be paid out within a few hours despite a small income.

Net loan amount | Learn more in the guide

When making larger purchases, such as buying a house or building a home, one thing is particularly important: If you need financing, you need to know exactly what the bank is actually paying into your own account. This actual loan amount is the net loan amount. With it, borrowers can better plan their financial needs in the long term. It also indirectly shows what credit really costs and how far the loan has been repaid. In the guide we show how the net payment amount can be better used in practice.

What is the net loan amount?

What is the net loan amount?

The net loan amount is the amount paid out by the bank to the borrower after the contract has been concluded. As a rule, this is the financing requirement required by the bank customer for his investment. In most cases, the requested loan amount (gross loan amount) does not differ significantly from the net loan amount.

However, some banks charge processing fees. In addition, costs for residual debt insurance can arise. These amounts will not be invoiced separately, but will be offset against the amount paid out. Then the net loan amount is actually slightly less than the gross loan amount. In general, however, the net loan amount is fixed in the loan agreement and the amount is specified there. It is therefore advisable to choose the net loan amount as the personal financing needs actually are. The loan specialists at Across Lender are happy to help you find the optimal loan with the right terms.

What is the net loan amount used for?

What is the net loan amount used for?

The net loan amount is also important for calculating the interest, repayment plans and conditions of a loan. Because its height is the decisive factor. In this way, the agreed debit interest is separated from the net loan amount or determined as part of the loan rate. Other costs are also calculated on this basis. The net loan amount is also an important figure at the end of the loan term: __This is only considered to be repaid when the customer has paid back the full amount of the loan. __

The key figure therefore gives every borrower practical and useful information that they can count on. This makes it much easier for him to assess the current and actual total debt to a bank. It is also important information if the borrower is planning several other investments at the same time: for example, in addition to building a house, larger private purchases. With the net loan amount, he can better understand his financial capacities. On the other hand, banks prefer to use it to better assess the financial situation of the borrower.

Net loan amount and gross loan amount: what’s the difference?

If the cost of the loan is fully added to the net loan amount, this gives the gross loan amount. The costs include possible additional costs as well as the interest. Often there are additional processing fees or a required residual debt insurance. Both sizes can be easily calculated:

  • Gross loan amount minus cost of loan = net loan amount
  • Credit Cost = Gross Loan Amount Less Net Loan Amount

This rule of thumb also results from the difference between the two amounts: the smaller the difference, the cheaper the loan.

The net loan amount therefore has the following characteristics:

  • what amount of money borrowers have actually applied for
  • from the credit it is the actual amount paid out to the customer’s account
  • it is more suitable for planning your own finances
  • the net loan amount can be used to compare offers

The gross loan amount therefore has the following characteristics:

  • it is the total amount of the loan
  • it indicates how much money the borrower has to repay in total
  • it contains the additional costs and interest of the loan
  • the gross loan amount can be used to compare offers.

Calculate loans correctly with the net loan amount

Calculate loans correctly with the net loan amount

Loan offers often speak of the total amount. However, this is not the amount that the borrower can dispose of. A calculation example for the installment loans that are used very often in everyday life shows it:

Sample calculation for an installment loan:

In fact, the customer receives only 40,000 dollars from the total loan amount of 44,600 dollars.

Tip: If you want to get a quick overview of the current conditions for an installment loan, you can start a free and anonymous comparison at Across Lender. The offers in the results list always contain information on the total amount of the loan. In this way, the appropriate offer can be determined based on the selected conditions.

Credit despite mortgage – How can it be done?

If you want to finance a house or want to buy a car, you will quickly think about a loan, since it is larger purchases. Not everyone has several thousand dollars in their accounts to pay for everything.

Loans allow some people to get luxury items that are then repaid in installments. However, if you already have a mortgage, you will not be able to get a loan so quickly.

What can be done

What can be done

A mortgage is a form of loan. This mortgage is taken on the property or property. Anyone who wants to have another loan approved must have collateral. While the mortgage is tied to an object, a normal loan is responsible for different purchases. Even if a house is sold, a mortgage still has to be paid off and this often takes many years. Nevertheless, a loan can be taken out despite a mortgage.

If you have set your mortgage with low installments, so that the monthly charge is very low, you can also pay off the installments of another loan. This requires a high income. However, if this income is insufficient, the borrower will have to try to offer other collateral to the bank. For example, the spouse can act as a guarantor with their salary. Others may have endowment life insurance that can be used as collateral.

Advantages of a loan despite a mortgage

Advantages of a loan despite a mortgage

Anyone who can pay off the mortgage and another loan installments does not have to forego wishes in everyday life. Depending on the creditworthiness, further purchases can be made that will not bring you into financial difficulties. The loan despite the mortgage should, however, be chosen well, because credit is not the same as credit. The providers are represented in large numbers, so that a comparison is always worthwhile. In addition, only so much should be included that it is enough for one purchase. A credit always means debts and they always have to be paid.

Credit Despite Maternity Protection

 

For many couples, their happiness in life is a child. Then it is time, the child announces itself, the woman is pregnant. In addition to all the joy, there can also be financial worries. So much has to be considered, how should the children’s room look, the initial equipment for the child is due and also the stroller or bassinet must be selected. These are all costs that affect the little luck to be expected. But there are other costs for the couple. You want to move in, another car has to be bought, as well as the new furniture for the interior. Many couples then think of a loan despite maternity leave.

The outlook

The outlook

The couple should know that a regular income, an impeccable Credit Bureau and a permanent position are the criteria for approval at the banks. Due to the uncertainty that arises when the woman is pregnant, the creditworthiness drops. Because the bank and often the mother do not know whether the profession will be carried out again after the birth. There is parental allowance after the birth, but this is limited to 14 months. The parental allowance is also lower than the previous net income. A loan in spite of maternity protection is unsafe for banks.

No problem should arise if the loan is repaid by the end of the parental allowance. Depending on the amount of the loan, this could also be feasible. It takes a few months for a child to be born. During this time, the expectant mother still draws her entire income. But banks think ahead and classify a loan with a higher risk of default.

If the loan is taken out by both despite maternity protection and the father-to-be has a full-time job with a sufficient income, there is a chance of a loan. The husband or partner can then sign as the borrower. If a single woman has a child and has no partner, she will only receive a loan if she can name a co-applicant or a guarantor. The guarantor is then liable for the loan with his assets. The joint and several guarantee offered by the banks equates the debtor and the guarantor.

In other words, if the borrower can no longer pay, the guarantor must do so. For this reason, he must have excellent solvency. Often you don’t want to ask a stranger as a guarantor, but in most cases the parents step in. That would also be a good guarantee, because there is absolute trust between borrowers and guarantors. If the borrower can only pay the loan under difficult conditions, the parents will step in.

The credit comparison

The credit comparison

The young mother will receive parental allowance after birth, but this is noticeably less than the last net salary. In addition, parental allowance is a social benefit that cannot be seized and is therefore not counted as income by the bank. If only a small loan is applied for, for example for a stroller or the like, a short term could be chosen, with the result that the loan remains affordable despite maternity protection. In this way, the loan can be repaid in full during the term of the parental allowance.

In order to get an overview of the banks that grant a loan in such a situation, a credit comparison is worthwhile. The young couple not only sees the best providers, but can also see the chances of approval (given as%). The lower the percentage, the lower the chances. If you keep an eye on this characteristic from the start, you will save time and patience. In many cases it will then be found that the interest rate for offers where the chances of approval are high, the interest rate is also somewhat higher. But that is always better than not getting a loan at all despite maternity leave.

What exactly is maternity leave?

What exactly is maternity leave?

Maternity protection is a generally statutory period during which the expectant mother can prepare for childbirth. Normally, maternity leave begins six before the due date of birth and ends eight weeks after the birth. During this time, the woman is not allowed to work, but she still gets her previously earned net income. This is no longer paid if the mother switches to parental leave and receives parental allowance. This is a government benefit and is not seen by banks as income.

The time after birth is an exciting time for the whole family. Not only is it also an expensive one. There are costs that have not been considered before. Many see this as a reason to apply for a loan despite maternity leave. It is not uncommon for costs to amount to a few thousand dollars. If the money was not saved and the family cannot contribute anything, then a loan is due despite maternity protection.

A way out?

A way out?

If the mother-to-be takes out the loan online, the bank does not look at the pregnancy and cannot use it as a rejection. There are many online retailers on the Internet where you can buy a lot of things the child needs. Think of the stroller or the cot here. The dealers offer reasonable financing, so that the children’s furniture can also be bought through the dealer.

If the couple goes into the loan agreement together, the chances of getting a loan despite maternity leave increase, but only if the partner has a full-time job with a corresponding income. He could then take the loan in his name if necessary. So nobody needs to know about pregnancy and maternity leave. Since the parental allowance follows, there is a mutual income at least during this term, which is somewhat reduced.

How to find the perfect credit

Finding a really cheap credit can take a long time. If you want to find the lowest interest rates, then you need several offers from different banks. Only by comparing the conditions of different financial institutions can you find out which interest rate is cheap and which is not.

Ask for a credit at many banks

Ask for a credit at many banks

But how many banks do you know where you could ask for a credit? And do you really have the time to send 10 or 20 different requests? If you prefer a simpler solution, then a free credit loan request is the way to go.

  • Here, proven experts take over the search for the best credit terms for you.
  • You actually ask up to 20 different lenders and finally present you with the best offer.
  • In this way you can find the best possible credit with minimal effort and in the shortest possible time – and without any upfront costs.

Credit also with bad Credit Bureau

Credit also with bad Credit Bureau

If you have a relatively high income and only positive entries at Credit Bureau, you can easily take out a credit. Across Lender is also there for you if you do not have a first-class credit rating and if you have a bad credit. Especially in difficult times it becomes clear who really wants and can help his customers. Across Lendert will search for a credit for you very intensively even if various banks have already rejected your application. And while your credit request may not be accepted anywhere else because you have a bad credit, Across Lender makes every effort to help you.

When looking for a credit, a free inquiry at Across Lender can take you a decisive step forward – regardless of whether you are looking for the cheapest possible loan or whether you need a credit despite Credit Bureau. Since you receive your personal offer 100 percent free of charge, you take absolutely no risk. Here you can go straight to the free request for your credit.

5 basic rules for effective financial management – Consumer loan

Managing your finances well is essential as well personally as in business or family. Mismanagement leads to over-indebtedness. Getting out of such a financial difficulty turns out to be difficult thereafter. You might as well respect the following 5 basic rules to avoid trouble:

Personal budget – savings – investment: the winning trio of successful management of their personal finances

Personal budget - savings - investment: the winning trio of successful management of their personal finances

Drawing up your personal budget and following it to the letter is one thing. Investing is another. It involves making your money grow. There are different ways to do this. Among these are savings. One can also resort to financial loan or credit. The mortgage is a good financial investment for the owner. Consumer credit provides much more freedom.

The budget envelope rule for the family budget

The budget envelope rule for the family budget

The principle is to list all expenses and income. The former are categorized into fixed, variable and exceptional expenses. The latter can include wages, family allowances or alimony. Then withdraw the cash money. Put the different amounts provided for each type of expense in an envelope that you will mark. Always set aside money for the unexpected. To fill the void, you can always apply for a personal loan. If the need is urgent, you can apply for fast credit.

The basic rule for better management of your corporate finances

The basic rule for better management of your corporate finances

The foundation of this rule is the special attention you should give to the finance function. The purpose of this function is to increase the turnover of the company. Its intervention is preventive. Take stock of the threats in order to better predict, then follow your investments closely. Don’t wait until the problem arises to seek funding.

Two rules common to corporate, personal and family financial management

Two rules common to corporate, personal and family financial management

The use of financial management tools is of great help. This is the first rule. Take advantage of the innovations brought by the digital age to manage faster and better. Some mobile applications allow you to calculate the profitability of an activity. Others are able to assess your debt. This will allow you to make strategic decisions. Online simulators allow you to choose the type of credit that’s right for you. So, for example, you can opt for the particular loan instead of revolving credit. The choice is made according to your situation and your financial profile.

The last rule is a calculation rule. First, review your finances often. Make it a regular watch. Then check that your revenues are greater than your expenses. If not, look for other ways to attract money to you so that you don’t get into debt.