Categories
Payday Loans

Best Loan Belgium: Payday Loan, car loan, works credit

The proposed credits

The proposed credits

At Best loan Belgium, credit offers are classified into three categories, allowing you to quickly find the loan that suits you best. You therefore have the choice between the formulas of Payday loans, mobility credits, work loans and credit cards. Clarification at http://www.slideski.com/loans-for-bad-credit-simple-online-bad-credit-loans-guaranteed-approval/

Payday loan

Among the installment loans available at Best loan, you have among others the wedding loan to make this family event a success. The student loan and the home improvement loan are also part of the Payday loans offered, helping you to achieve your goals more easily or improving the comfort of living in your homes. With regard to the grouping of credits, this approach consists in gathering all your outstanding loans in a single and unique formula, thus allowing you to have a monthly payment, the amount of which will have been revised downwards so that you can regain your purchasing power and avoid over-indebtedness.

Whatever the nature of the project for which you require financing, Best loan Belgium offers you up to $ 75,000, and this, without you having to justify yourselves on the reasons which lead you to request this credit. From the online simulation, you have the choice between two procedures, either you start the calculations by amount to borrow or by monthly repayment supported by your budget. The total amount to be reimbursed is given to you, as well as the APR (annual effective annual rate). For you to project yourself, representative examples are provided to you, knowing that the annual borrowing rate, the monthly payment and the repayment period are fixed. If all the conditions are right for you, the next step is to apply for a Payday loan online.

Best loan’s mobility loan

You will understand, the Best loan mobility loan is the credit you need for the acquisition of a vehicle. This can be a new car (up to $ 75,000), a used vehicle, a motorcycle, a mobile home, an electric bike, a scooter or a hoverboard, as long as it is the car. of your dreams or the means of transport you need to go to work, travel or play adventurers. Anyway, the funds provided vary from $ 500 to $ 75,000, and you can have up to 110% of the purchase price to easily cover additional costs such as subscription to Best loan Protection insurance, works repair for used cars, comfort and safety equipment for two wheels, etc. To get an idea of ​​the amount that will be granted to you and the costs that it will generate, start by doing a free remote simulation on Best loan.be. It is a simplified approach that does not commit you to anything. The next step is to apply online and receive a policy response. This contract will then be printed and completed before being returned by post. In the meantime, go to the Best loan website to access the “follow my request” tool to download the necessary supporting documents.

Works credits

To finance your work in progress or your renovation projects, Best loan offers two borrowing formulas: the classic renovation credit and the ecological renovation loan. With the classic works credit offer, you borrow between $ 2,500 to $ 75,000, the APR of which is clearly indicated, as well as the fixed annual borrowing rate and the total cost of the loan. This money can be used to do all the DIY work or modifications requiring the intervention of professionals, and this with simplified conditions. As for the ecological renovation loan, you benefit from a more advantageous interest rate, while you can use it to improve the insulation of the house, invest in solar panels or have a heat pump installed. Because this is an important project, Best loan experts will not hesitate to advise you on the procedures to follow, the specifics of such interventions in Belgium and the advantages of Best loan Protection insurance.

The Best loan credit card payment card

The Best loan credit card payment card is linked to a cash reserve in the amount of $ 1,250 to $ 3,000 which will allow you to make purchases in store or online, whether in Belgium or Europe. The repayment of the line of credit is done gradually, while the money reserve will be replenished as you pay the monthly payments. To keep an eye on your transactions and movements on your card, you access MyBest loan, your personal web space, remote and operational at all times, which requires the file number. Note that access to the credit card is always done online by filling out the credit request form.

How to request a loan from Best loan Belgium?

How to request a loan from Best loan Belgium?

Credit requests on Best loan are made remotely via the bank’s website. So, start by doing a free simulation online, by choosing the project to finance (renovation work, purchase of a vehicle, wedding, etc.), then launch the calculations by indicating the amount you want to borrow, or by directing searches according to the monthly payment supported by your budget. If all the conditions of the loan suit you, go to the next step by clicking on “request this credit”. This action sends you directly to the page of the credit application form where you will note your contact details (title, last name, first name, e-mail, telephone), then check the small boxes to accept the general conditions of Best loan. The rest of the process requires your identity card, as you will be asked for all the personal data contained therein. And if you need to take a break, just save everything and get a link with the email address previously provided.

To continue, click on the link and enter the data on your professional and financial situation, specifying your charges and your current credits, so that the bank can verify that you are well able to commit and that your ability to debt allows you.

A summary of your credit information is then provided to you, take the time to read the table carefully to make changes while there is still time. If everything suits you, click on “I validate” to send the request which will be analyzed by Best loan experts. The answer in principle will be sent to you as soon as possible. Note that a file number will be indicated to you upon confirmation of receipt of credit request. Keep this sequence of figures carefully, because it will be useful when you are going to follow up on your request on the Best loan web portal.

As soon as your credit application is accepted, a contract will be sent to you by e-mail or by post. For an installment loan, collect the pages with the mention “document to return”. Then fill in the green boxes, in particular the information on your credit, preceded by “read and approved”, then note your address, the date and sign under your name. The second page to be completed is that essential to prevent defaults, while the third is for the provision of funds / mandate and method of credit repayment via your bank details identical to those noted on the request for credit. Additional explanations on the Best loan credit application and contracts are provided by the videos that you can view via this link. A blog is also available to allow you to follow all the news related to Best loan.

Further information on Best loan

Further information on Best loan

With the “Best loan, more responsible, together” logo, this subsidiary of the finance group finances your projects with credit offers at attractive conditions. You get in touch with an international network of over 500 financial experts who will take the time to study your professional and financial situations before responding to your loan requests. Frequently asked questions are also available to you so that you can find out more about the progress of your file via the Best loan website or via customer service. It is the same for the duration of payment of funds to your account, or the supporting documents necessary to complete the file.

Revolving loan and overdraft account what is the difference?

 

How quickly can I get a loan from the bank? Protect yourself against all contingencies and before, before life surprises us, try to get financing in the form of a revolving loan or overdraft? Both products allow you to use the bank’s money in an emergency. What is the difference? Or maybe they are the same products under a different name?

What is the difference between a revolving loan and overdraft?

What is the difference between a revolving loan and overdraft?

The revolving loan is granted in the customer’s account at the same bank, after signing the loan agreement and paying the commission, and the debit can be made available even after talking to the adviser by phone. Both products allow you to quickly get money from the bank, for any purpose

Overdraft and a revolving loan

Overdraft and a revolving loan

Contrary to popular belief, account overdraft and revolving credit are two separate credit products that banks make available to their clients after verification of creditworthiness and creditworthiness. Although these products can perform the same functions – they are a financial cushion for any eventuality, for any purpose, but there are fundamental differences between them.

Identity feature for both products is that revolving credit and overdraft automatically pay off each time you pay into the account of the customer – the borrower.

Distinction between overdraft and revolving credit

Distinction between overdraft and revolving credit

When applying for a revolving loan, the customer must sign a loan agreement with the bank, although the formalities are simplified here, at least in comparison with applying for a cash loan or a car or mortgage loan. Most often, you will have to pay a bank commission for a revolving loan, while overdrafts are usually granted free of charge and without another contract being signed.

You can apply for a debit at the bank where the customer has a settlement and savings account. The process of obtaining a debit requires a minimum of formalities – usually just call or click the appropriate option in electronic banking.
A revolving loan is a credit line and allows for more debt than overdraft – this allows you to borrow only a small amount from the bank – several hundred or several thousand dollarss. The credit line may amount to several times higher. The overdraft period is shorter and is generally 30 days, while a revolving loan can be repaid for up to a year, with the option of extending the repayment period for next 12 months.

When should you use overdraft and when from a revolving loan?

When should you use overdraft and when from a revolving loan?

If we need a relatively small loan and we are able to pay it back quickly, overdraft will be a good solution. We will obtain it quickly, provided our credit history or cooperation with a given bank is positive. On the other hand, a revolving loan in your account will be a suitable offer for customers of banks who need more cash and want to pay off their current income in for at least a few months

How do you calculate the total cost of a loan?

Comparing loan offers with respect to their interest rate is not appropriate. The borrower incurs many other costs that are charged to his pocket as part of the monthly principal and interest installments and the fees immediately incurred when signing the loan agreement. So let’s find out how to calculate the total cost of a loan?

 

When calculating the total cost of a bank loan , all fees and commissions borne by the borrower should be included. This can be calculated based on the amount of the liability and the APRC of the loan. 

 

What is meant by the total cost of credit?

What is meant by the total cost of credit?

 

The total cost of the loan includes all costs that the borrower will have to bear in connection with the signing of the loan agreement. It is not only interest or commission charged by the bank for granting the commitment. In addition to interest and commissions, the total cost of credit should be added to the pool:

  • taxes,
  • margins,
  • costs of establishing loan repayment collateral,
  • insurance premiums,
  • additional costs.

It happens that some additional costs the customer bears only when he decides to take additional insurance or establish collateral. Some of them involve only certain types of loans , e.g. mortgage fees related to the entry of a mortgage in the land and mortgage register for the bank. Credit costs should therefore be divided into voluntary and mandatory costs, which will be necessary if the person wants to get a loan .

 

How to calculate the total cost of credit?

How to calculate the total cost of credit?

 

To calculate the total cost of the loan, it should include credit interest, calculated on the basis of the interest rate provided by the bank, the loan commission, the fee for examining the loan application and any other fees indicated by the bank in the loan agreement and in the table of fees and commissions. A facilitation for the client will be obligatory to put in the loan offers Annual Real Interest Rate of the loan, i.e. APRC. This is actually the total cost of the loan that the customer must bear, but expressed as a percentage of the total loan amount per year.

 

Information on the total cost of credit should be the starting point when comparing different offers. On this basis, you can clearly choose the offer with the lowest costs charged to the borrower. Interestingly, it will not necessarily mean a loan with the lowest nominal interest rate.

Does the pensioner have a chance for a loan?

 

 

A pensioner has a chance to get a bank loan thanks to stable, stable income and the opinion of a reliable borrower, which this social group enjoys.

Credit conditions for retirees

Credit conditions for retirees

 

Many banks are willing to grant a loan to a pensioner. However, he must meet certain requirements regarding:

  • act,
  • the amount of income received,
  • credit history.

If the borrower in such a situation is additionally burdened with the need to repay another liability or is the guarantor of the loan, this is a serious obstacle to the granting of another liability. The age of the pensioner is also important for banks. Persons with approximately 70 years of age can get a loan in most banks in the country, but it will be a rather short-term commitment, granted for a maximum of 8 years, although it depends on the individual situation of the pensioner and on the policy pursued by the bank.

The loan will also not be granted for a high amount, because in the majority of cases the income of the pensioner will not be too substantial. The history of crediting with credit checker also matters.If the potential borrower has negative entries in the Credit Information Bureau, he will certainly not get a loan from the bank.

Special loan for a pensioner

Special loan for a pensioner

 

Few banks are willing to offer pensioners a special cash loan. Banks clearly appreciate the fact that pensioners usually fulfill their repayment obligations very reliably. When granting a loan, sometimes simplified rules can be obtained in the loan process. To determine the amount of income, the bank only needs a payslip of the retirement benefit, the decision of the retirement body to grant it, or a certificate issued, or another authorized body that pays retirement.

The advantage of pensioners applying for a loan is that they can present a stable source of income that they will not lose. They are reliable borrowers who properly guarantee timely repayment of installments.

Aretired person can get a home loan but only from the bank in which he/she has a pension account. What is the tenure of a home loan for pensioners ? The tenure of a home loan will be up to 15 years or 70 years of age, whichever is earlier.

Housing loan and mortgage

A common practice among people who do not have work strictly related to the financial market is to use the terms home and mortgage interchangeably. In many cases, both terms may mean the same thing, but you must know that they are a different loan product only available at banks.

 

The housing loan is intended for the purchase of a flat or a house, or purchase of a communal flat, or the transformation of a cooperative tenant’s right to the property into ownership. On the other hand , apart from the above-mentioned purposes, the mortgage allows to cover the costs of purchasing a construction plot or modernizing the property.

 

Similarities and differences

Similarities and differences

The terms housing loan and mortgage loan in terms of construction and offer are usually very similar. The features combining both products are undoubtedly the long duration of the loan agreement, a similar level of interest, similar procedures and formal conditions to be met by the customer when applying for a loan. Check the offer of loans for the purchase of real estate. However, one should also mention the most important differences between these products. It is primarily a difference related to the purpose of lending. A mortgage can be used to a much broader extent than a housing loan, which has strictly specified purpose by the bank .

 

Housing loan for residential real estate only

Housing loan for residential real estate only

 

According to the concept of housing loan, it is granted for the purpose of purchasing residential real estate. It does not necessarily have to be a flat from the primary market, from a developer or a flat from the secondary market. A housing loan can be taken for the purchase of a single-family house, a summer house or the purchase of a communal apartment. Banks accept the purpose of granting this type of loan in the form of the transformation of the cooperative tenant right to a dwelling into ownership rights.

 

Purpose of the mortgage

Purpose of the mortgage

 

Unlike a home loan, you can use a mortgage to buy a residential property, but not only. There are additional possibilities to use the funds derived from it. This loan can be used for:

  • purchase of a construction plot,
  • building a house or flat,
  • renovation of a residential property,
  • building modernization,
  • modernization of the premises for rent or lease.

What should the consumer choose ?

What should the consumer choose ?

 

When analyzing bank offers, the potential borrower should first of all determine what he wants to take out the loan for. If it is a purchase of an apartment, then both a housing loan and a mortgage will be suitable for him. However, he will not be able to cover the costs of building a house or buying a construction plot with a home loan, and the mortgage will enable him to do so. Already at the stage of applying for such a commitment, banks require that the loan application specify the desirability of taking a loan.

Maximum cost of credit or loan – check it out!

The cost of each financial liability usually consists of interest and commissions and fees. In addition, the borrower taking out a loan and failing to meet the repayment date must bear the costs of the recovery procedure and penalty interest. How much can the borrower cost the loan in the end?

 

Interest cost limit – currently at the level of 10% per year and non-interest cost limits regulate the amount of final costs associated with the loan. 

 

Maximum interest on the liability

Maximum interest on the liability

The loan is usually a payable obligation, and the remuneration for the lender is primarily interest. If the loan is granted in the amount of up to USD 255 550, it will be considered a consumer loan under the relevant provisions. Also these regulations indicate the limit of interest costs related to the granted loan.

 

The maximum amount of interest on the loan, as well as on other consumer loans, may not exceed twice the statutory interest on an annual basis. In turn, statutory interest is equal to the sum of the reference rate of the National Bank and 3.5 percentage points. Currently, this rate is only 1.5 percent, so after increasing it by 3.5 percentage points we get 5 percent. This means that the lender will not be able to collect from the borrower, on the loan granted, interest higher than that calculated at a 10% interest rate.

 

Non-interest costs also limited.

Non-interest costs also limited.

Loan companies could quite freely shape their policy of fees and commissions charged to customers in relation to the loan granted. This is no longer possible today. Among the costs associated with the loan, there are also non-interest costs, not related to the interest normally charged by the lender. Pursuant to the Act on Financial Market Supervision and the Act on Consumer Credit, a non-interest cost limit was introduced. Their amount may not exceed the sum of:

  • 25% the total loan amount and
  • 30 percent variable amount depending on the loan period and loan amount.

It is worth emphasizing that all non-interest charges related to the loan may not exceed 100%. total loan amount. The new regulations have imposed on entrepreneurs conducting loan operations the obligation to return to the consumer all fees if the loan is ultimately not disbursed and the loan agreement is not concluded.

Is there a chance for a cash loan without certification?

 

Generally, when applying for a bank loan, the borrower must apply to the bank for the loan, along with many documents. Among them are also certificates. Will they be necessary in every bank to be able to get a cash loan?

 

A cash loan without income certificates can be taken at several banks in the country. The customer makes a statement about the amount of income or otherwise confirms his financial position in a way desired by the bank. 

 

What certificates are needed?

What certificates are needed?

 

When applying for a cash loan, banks require potential borrowers to submit many different documents. By default, these are certificates on the amount of income or employment and the type of contract. However, banks are often willing to make some concessions on the list of such certificates, but they still need to have some basis for calculating creditworthiness.

This ability is the ability to pay principal and interest installments on the dates indicated in the contract. If you do not need to submit income statements, how do you calculate your creditworthiness?

 

Borrower’s declaration

Borrower

 

Earnings or employment certificates are not mandatory when applying for a loan at many banks. Instead of certificates, banks accept customer statements. These are declarations they make under threat of criminal liability, regarding the estimated amount of income they receive every month. The bank can always verify such information, for example by contacting the borrower’s employer and asking him to indicate the amount of his remuneration.

 

Other documents needed for a loan

Other documents needed for a loan

 

Bank may confirm the client’s financial situation in a different way than on the basis of earnings statements or declarations of the borrower. May request an extract from the account bank or a copy of the tax return PIT.

If the customer is applying for a cash loan in his bank, where he already has a personal account , the bank can only ask him to provide the account history. It will quickly track cash flow and on this basis assess whether the customer can afford a loan.

 

In which bank credit without certificates?

In which bank credit without certificates?

 

Based on your loan application and account statement, you can get a cash loan at Fine bank online. You can borrow up to USD 50,000 in this way. The customer must provide in the loan application the details of the employer or the company he runs.

 

Income certificates are unnecessary when applying for a cash loan of up to USD 150,000. A micro-cost loan is available, and customers who already have an account can apply for an online loan without income statements.

How much do you have to earn to get a cash loan?

 

When assessing an application for a cash loan, the information on the client’s monthly income is taken into account. They should be high enough to be free enough to pay the loan installments with interest and to retain the customer.

A simple bank loan

A simple bank loan

Actually, cash loans can be found in the offers of all banks in the country. These are commitments that allow you to finance any borrower’s credit goals. The bank does not impose the manner in which the money from such a loan is to be used, nor does it require the customer to establish additional collateral for its repayment. Of course, sometimes it may happen that the purpose of lending is defined, but this is not a universally binding practice.

Who is the cash loan for?

Who is the cash loan for?

Customers with a complete loan application, including the required attachments, and good creditworthiness and good history have a chance to obtain a cash loan. loans in the Credit Information Bureau.

At the same time, creditworthiness is understood as the ability to repay the liability in a timely manner, together with any interest and additional charges. It is obviously influenced by the amount of income that the customer receives when applying for a cash loan at the bank. How high must this income be in order for the bank to comply with the loan application and make the commitment?

Individual examination of the loan application

Who is the cash loan for?

In fact, every person who earns, whether on a contract of employment, contract of employment or on account of a pension, has a chance of positive consideration of the application for a cash loan. The Bank individually approaches its assessment and calculates the creditworthiness on the basis of the algorithms used. A low salary does not have to immediately exclude the client from applying for a loan, but it will definitely work against him.

Banks take DTI into account when assessing the creditworthiness of their clients. It specifies the percentage share of credit obligations in the borrower’s household budget. Most often, loans are considered a safe DTI, where the amount of the commitment will not exceed 1/3 of the client’s earnings. In turn, the Financial Supervision Authority stated that in the process of assessing the creditworthiness of retail customers, banks should pay special attention to situations where the DTI exceeds 40 percent. for clients, the income not exceeding the average level of remuneration in a given region of residence and 50% for other customers. Currently, the banks themselves ultimately set the maximum DTI.

However, following the instructions, when applying for a cash loan in the amount of USD 10,000, where the monthly installment will amount to USD 850, the client would have to earn at least USD 2,100, to preserve 40 percent. DTI indicator. In practice, however, such income may not be sufficient, because the client’s other monthly liabilities and the amount necessary to maintain it should be deducted from them.