Installment loan amount calculation.

What installment loan amount can you afford? Your monthly budget for a loan decides on the reasonably affordable rate. But how do you calculate this budget correctly? And what loan amount can you use to finance it? What installment loan amount is possible at German banks? We clarify!

Installment loan amount: This is how much you can afford

Installment loan amount: This is how much you can afford

Monthly payments are associated with an installment loan: you have to be able to afford the annuity permanently without having to go through the painful waiver elsewhere. In your household bill, therefore, compare the safe monthly income with the smoothed monthly expenditure. The secure income essentially consists of your monthly salary, which you should reduce by overtime bonuses – after all, overtime does not necessarily apply in the future.

In addition to monthly expenses such as rent, cash, telecommunications, energy, etc., you should also take into account expenses that are not incurred every month in your expenditure calculation. Many insurance companies are z. B. billed quarterly or annually, club fees mostly collected in January.

Spending on vacation is typically relevant in a month or two of the year, as is spending on holidays and celebrations such as: B. Christmas. Sum up the monthly and other costs and divide the result by twelve. Then add a security surcharge of 10% – the result corresponds to your carefully calculated total costs. Subtract this from your carefully calculated earnings to get your personal loan budget.

Long term, low rates?

Long term, low rates?

The maximum possible installment loan amount can now easily be determined from your personal loan budget. All you need is the interest rate and the desired term. Are you z. For example, if you have USD 400 available for repayment a month, you will receive a net loan amount of USD 25,566.97 with a term of 72 months and an effective interest rate of 4%. The longer the term and the lower the interest rate, the higher the amount. Compare the current market tools on Astro Finance with the offers on the market!

It goes without saying that the interest rate should be as low as possible. The term is different. The amount of the installment loan that you can afford increases with the duration of the repayment period. The financing costs are higher. If you repay USD 25,000 4% effectively in six years, you will receive a total of USD 3,102.72 in interest. The monthly rate is then 390.32 USD. If you repay the loan at the same interest rate in four years, you will have to raise USD 563.68 per month – but the interest costs will be significantly lower at USD 2056.48.

Conclusion: calculate the budget for the loan

Conclusion: calculate the budget for the loan

Your personal loan budget is decisive for the loan amount that you can afford. To do this, carefully calculate calculated earnings against your average monthly costs and include a safety margin of 10% in the costs. The difference is your credit budget or servicing ability. You use the budget for the monthly payments. How much credit you get for a certain monthly rate is determined by the interest rate and term. Therefore, look for the cheapest possible installment loan, but do not set the term unnecessarily long, because this increases the total cost of financing.

How to get a small Social Institute loan and multi-year

Government Agency financing for public employees and pensioners

Government Agency financing for public employees and pensioners

Life holds many small and large contingencies that often require an economic commitment. From this point of view, public employees and pensioners have one more opportunity than the other workers: the Small Social Institute loan ex Government Agency. What is it about? What are the advantages offered to customers? How to request it.

Small loans 2017

First of all a formal clarification. The current small Social Institute loan was once disbursed by Government Agency, but this social security institution has been canceled and its functions have been transferred to Social Institute. Hence the name Small loan Social Institute ex Government Agency.

It is a product that allows to obtain a liquidity useful to face emergencies of public employees and pensioners enrolled in the unitary management of credit and social benefits. The repayment processes are structured in 12, 24, 36 or 48 installments.

Amounts and rate

The sums vary from a minimum of one to a maximum of eight net salaries of the applicant ‘s salary or pension. As far as interest rates are concerned, the application of a nominal annual interest rate corresponding to 4.25% is arranged.

Administrative expenses, equal to 0.50%, and a premium for the Social Institute Risk Fund, which varies according to the values ​​reported in the Social Institute regulation, are added to the Tan.

Presentation of the application

Presentation of the application

Application procedures change based on the status of the applicant. If this is a member of the service activity, the applications must be submitted to the Administration of belonging, this, in turn, will take care of sending them electronically.

If, on the other hand, the applicant is retired, the applications must be sent directly electronically using the service made available by Social Institute on the official portal. On the same portal it is also possible to download the request form (in Pdf format).

Being a non-finalized financing, beyond the status of the client, this will not have to provide any expense documentation or even produce reasons or medical certificate.

How the Government Agency 2017 multi-year loan works

We remind you that Social Institute financing is not limited to the small Social Institute loan ex Government Agency. For more demanding needs, in economic terms, we have multi-year solutions, which consist of direct multi-year loans and guaranteed multi-year loans.

Direct loans make it possible to obtain liquidity in the face of documented personal and / or family needs, provided they are part of the requests set out in the Social Institute Regulation. The beneficiaries are always public employees and pensioners registered in the unitary management of credit and social benefits.

The repayment plan is of two types: five-year (60 monthly installments) or ten-year (120 monthly installments). The installment cannot exceed one fifth of salary or pension. The amounts that can be financed instead vary according to the reason for which the loan is requested, as established by the Social Institute Loan Regulation.

An annual nominal interest rate of 3.50% is applied to the gross amount of the loan . As for the small Social Institute loan ex Government Agency, administration costs are also provided (0.50%) and a premium for the payment of the Social Institute Risk Fund. The repayment of the installments takes place in the second month following that of the concession.

Secured financing

The multi-year secured loans are instead disbursed by banks and financial institutions affiliated with Social Institute, therefore we cannot determine the interest rates set by the lending institutions.

However, on the basis of the agreement signed with the Social Security Institute, banks and financial institutions that provide guaranteed multi-year loans are obliged to apply favorable interest rates to loans.

It is also necessary to specify that for the Social Institute to give its consent for the disbursement of the loan, the credit institution must indicate the APR applied. Rate which must be compared with the average rates indicated in the decree published, on a quarterly basis, by the Ministry of Economy in the Official Journal.

As the name suggests, the Social Institute guaranteed multi-year loans also enjoy a guarantee from the social security institution which undertakes to cover the financing in cases of reduction of salary, termination of service and death of the beneficiary.

How to calculate loans

How to calculate loans

Those who wish to calculate the installment of a loan ex Government Agency can use the special online simulator on the Social website. However, this is a service that only concerns loans granted directly by Social Institute, i.e. the multi-year loan and the small Social Institute loan ex Government Agency.

To access the web application it is necessary to connect to the official Social Institute website and select “Services and Services” and from here choose the “Public Employee Management: simulation calculation of small loans and multi-year loans” service.

At this point, the user must choose one of the three calculation methods made available by the institution (loan simulation; loan simulation for ideal installment; loan simulation for specific amount) and enter the required data in the appropriate form.

A loan to the client’s home without bases!

Finding a loan for a proof of your home can be problematic, although ads appear both on the internet and at traditional ad points. Loan companies encourage you to use their services in a variety of ways, often by using slogans behind an unrealistic or unprofitable proposal.

After a thorough analysis of the non-banking market, it turns out that there are not many companies offering loan delivery to the client’s place of residence. It is worth knowing that loans with home services are mainly those with an installment repayment system.

What are the new home-based loans?

What are the new home-based loans?

Loans delivered to home existed before they even went online. Currently, however, such offers are significantly different from those of previous years. New loans available on online loan services are more affordable and the rules for granting them are better understood. In general, these are installment loans. The meeting of the borrower and the lender’s representative takes place both to carry out the transaction, i.e. to verify the consumer, to sign the contract, to withdraw funds, and so that the borrower can conveniently repay the liability.

You do not need to make a transfer to pay off the loan.

It is worth knowing that home loans can be repaid directly to the hands of a loan company employee. Money obtained from a non-bank loan with home delivery can be used for any purpose. The loan amount depends on the individual situation of the borrower. The loan period is generally not longer than 48 months.

Under what conditions are home loans granted?

home loan

You can familiarize yourself with the terms and conditions of a loan company for consumers before your representative’s home visit. A loan ranking is necessary for analyzing loan parameters, and to learn the detailed policy of a non-bank institution in the field of borrowing money, you will need:

  • information in the FAQ section , i.e. answers to frequently asked questions by consumers,
  • explanations in small print at the bottom of the loan home page, especially a representative example for a loan offer,
  • information form (often found next to the loan calculator),
  • loan portal regulations ,
  • detailed regulations of promotional offers, if any,
  • loan agreement template ,
  • individually asked questions about a home loan via the contact form or a telephone conversation with a consultant.

When applying for a loan, the consumer must show that he is able to repay the liability. The requirements are generally relatively small. Debtor databases are not always checked. For a positive decision, a solid guarantee in the form of a guarantor is often enough.

Who can benefit from a home ID loan?

Who can benefit from a home ID loan?

Loan companies try to respond to the needs and expectations of consumers. With the offer, payday loans go mainly to young people who have a personal account.
On the other hand, loans that do not require the entire transaction via the Internet are a solution especially for:

  • consumers who do not trust the online way of concluding a contract,
  • people without a bank account,
  • account holders seized by the bailiff (the money from the loan would be automatically seized),
  • elderly people who do not find their place in online reality.

The formal conditions for granting a loan at the client’s home are quite similar for each lender. The loan can be granted:

  • a person between 18 and 75 years old,
  • based on a valid ID card,
  • to a person showing the ability to pay the monthly installment.

It is only important that the borrower is not in the course of consumer bankruptcy proceedings. In some cases, the loan company may expect a document confirming your address. For this purpose, for example, you can provide a utility bill.

Why is it worth using the loan offer at the client’s home?

This type of loan has several disadvantages, but the advantages convince consumers. The advantage is primarily lower requirements for the customer. There are loan companies that offer loans at the client’s home without BIK . This means that they do not judge the consumer based on the credit history obtained from the Credit Information Bureau. It is possible to obtain a loan without the ability to secure it with a guarantor.

This way of financing can be used by people in difficulty who are looking for a solution to deal with previously unpaid liabilities. Another advantage is that non-bank home -based loans do not require a personal account. Not everyone has them. Not everyone wants to provide it when applying for a loan. You can ask a company employee during a direct conversation about the details of the offer. At home, it’s easier to think about what information is important.

What are the disadvantages of having a loan at the client’s home?

What are the disadvantages of having a loan at the client

Opponents of loans and credit facilities will find minuses in each of these solutions. Not everyone is aware of the existence of a free online payday loan . Loans with access to the client’s home also have some disadvantages. Loan market specialists point to additional costs. After all, the transfer of cash directly to the customer’s hands is treated by loan companies as an additional service. Therefore, there is a fee that is imposed on the borrower. Ultimately, he can increase the cost of the loan at the client’s home by 20% on average.

The additional cost results from:

  • delivering documents and cash to the address indicated by the borrower,
  • company representative visits to collect the installment.

Standard online payday loan is cheaper because everything, both verification and repayment, is done online. Therefore, the lender does not bear the costs associated with hiring a field worker.

You should be vigilant when choosing an offer, because private loans with access to your home , i.e. those in which the lender is not a loan company and a private individual, are highly unprofitable. Busy, older, distrustful internet information technologies are a group of consumers for whom a solution such as a new home loan can be attractive.

How does the transaction work when applying for a loan at the client’s home?

The stages of applying for loans delivered directly to the customer’s hands may vary depending on the loan company’s policy. A home loan application can be submitted:

  • online
  • phone.

In case it becomes necessary to apply for a loan online, it looks like this:

Step 1 Selection of loan parameters that match the consumer in the loan calculator: amount, loan period.

Step 2. Ensuring the cost of the loan and assessing the financial possibilities to cover it.

Step 3. Going to the loan application, in which personal data and information informing the lender about the financial situation should be provided. It is worth preparing an ID card for this step, because this type of home ID loan does not require additional documents.

Step 4 Identity Verification. In this case, it is possible to use the confirmation of the data during the visit of the loan representative.

Step 5 Make an appointment for a loan company employee.

Step 6 A meeting on the loan, during which the consultant checks the person applying for the loan and asks to sign the documents. After completing the formalities, it is possible to transfer the loan at the client’s home in the form of direct cash delivery to the borrower.

The most important advantages of loans at the client’s home

Among the advantages of a loan at the customer’s home, first of all, it should be mentioned that it is a solution that is very convenient. In addition, it is a good option for those who do not want to provide their personal data in the online application. The loan at the client’s home will also appeal to those who do not have a bank account or those whose bank account was taken by a bailiff. Older people usually choose home loans because they prefer to sign contracts in a traditional way.

Another advantage of a home loan is that in this case the list of requirements for creditworthiness is much smaller. None of the current loan companies with a home loan service checks their clients at the Credit Information Bureau (BIK). Therefore, if we were not able to get payday pay due to our presence in BIK, it is worth trying to apply for a home loan.

What are the disadvantages of a home loan?

home loan

The first drawback is that a home loan is more expensive than quick online loans . This is due to the fact that the loan company must bear the costs associated with employing its representative who will come to our home and sign a contract with us. In some cases, representatives of loan companies also receive monthly installments from their clients. On the other hand, if we take an online loan, the whole process is usually automatic, and as a consequence the costs of the lender and the borrower are lower.

If we can apply for a loan via the internet, it is worth doing so. In this way we will save large amounts of money on the costs of this commitment. Many loan companies also offer their new clients their first online loan for free – then you should pay back as much as we borrowed. It is a very convenient and safe solution that is worth using today!

Where to look for installment loans without Credit Checker

Persons who, for various reasons, have unpaid liabilities and longer delays in repayment of loans, appear in the Credit Checker register as debtors. Negative entries may prevent borrowing money from the bank and make it difficult to borrow from a non-bank company. Further editorial at

Meanwhile, an installment loan can be an opportunity to get straight and help you get rid of debt. Where to look for installment loans without Credit Checker and how do they differ from payday loans with a short repayment deadline? When do we really get to the Credit Checker?

Installment loans without Credit Checker and quick payday loans

Installment loans without Credit Checker and quick payday loans

Installment repayment loans are slightly different from traditional payday loans. Both financial products do not always require customer verification in Credit Checker.

Installment loans:

  • must be paid in several, several or several dozen installments (usually, the number of installments is from 3 to 36),
  • are provided via the internet,
  • allow you to apply for more cash, e.g. to pay off a small payday loan.

Online Payday loans:

  • require one-off repayment with a maximum period of usually 30 days, unless the borrower has set a shorter period,
  • require the organization of funds for repayment in a short time,
  • are provided via the internet,
  • they have lower amounts that can be claimed.

The installment repayment system means that installment loans without Credit Checker are not such a burden for the portfolio as payday loans. People who are trying to settle their debts to get rid of negative entries in Credit Checker will certainly be able to cope with smaller installments better than paying a large sum of money once.

Where should you look for installment loans without a Credit Checker?

Where should you look for installment loans without a Credit Checker?

Currently, non-bank installment loans without Credit Checker are available online. On the internet, you can see which loan companies work together with the Credit Information Bureau and which don’t.

In searching for offers, rankings will help, which present offers collected in one place with the most important information about the loan.

They show the amount and number of installments that can be requested. It’s worth comparing different offers before submitting a loan application. It will not do without analyzing the financial situation so that the new financial commitment does not worsen it and does not contribute to falling into the debt trap.

When do we get to the Credit Checker database?

When do we get to the Credit Checker database?

The consumer’s data is transferred to Credit Checker when he or she applies for a loan. After granting him a loan, the financial institution provides repayment data. Both timely and late payments are recorded. Credit Checker also collects data on non-repayment.

Consumers who repay the loan in accordance with the schedule attached to the contract can sleep peacefully because after the repayment the information about the loan ceases to be visible to the lenders checking Credit Checker unless they have agreed to process data on the obligations repaid, but such information is ordered.

Consumers who should have had their leg and did not meet the deadlines specified in the loan schedule may have problems because their debt may be visible even for 5 years.

Everyone creates their own credit history in this way. What’s more, everyone who appears in Credit Checker does not have to be in debt immediately. If he reliably fulfills his obligations, he does not have to look for an offer for installment loans without Credit Checker, because he can use the services of companies that check Credit Checker.

Urgent loan without credit bureau.

If the Credit Bureau information shows negative entries, loan seekers in Germany usually do not receive a loan from a bank. Even the house banks generally reject customers with bad credit conditions because the risk of default is too high for them. The procedure is usually different for credit brokers. With these financial service providers it is often even possible to have an express credit without Credit Bureau.

An express loan without Credit Bureau is not provided by the house bank

An express loan without Credit Bureau is not provided by the house bank

For house banks, Credit Bureau’s scoring is an important indicator to see what the creditworthiness of their bank customers is. The scoring is calculated using a special algorithm that contains a lot of important credit data. Even age and place of residence can make scoring better. Credit Bureau has saved almost all credit-relevant data from more than 66 million people for companies, banks and financial service providers.

As a bank as a financial service provider always requires collateral, Credit Bureau information is always obtained from a loan. The creditworthiness of a borrower is calculated for Credit Bureau information. The house bank will refuse a loan even with slight negative characteristics and a not too good credit rating.

Loan brokerage can help in difficult financial situations

Loan brokerage can help in difficult financial situations

If the house bank has refused an emergency loan without Credit Bureau, loan seekers can contact a loan broker on the Internet. Credit agencies work similarly to brokers and must be approved in Germany according to § 34 c GewO. This approval authorizes the provision of credit to end users.  These credit agencies have been active on the financial market for many years and have good contacts with many different banking houses in Germany and abroad.

An urgent loan without Credit Bureau is requested online today from these credit agencies. Home visits, as used by many credit intermediaries, are rather rare. If a credit intermediary makes a home visit after all, he must also be able to show the approval according to § 34 c GewO.

Even if no Credit Bureau information is obtained, a credit agency needs collateral. Anyone who requests a loan from a credit agency must therefore be at least 18 years old and provide evidence of a permanent job. As proof, copies of the employment contract, current account statements and the latest proof of salary must therefore be submitted to these financial service providers. Originals are sent back to the loan seeker after they have been inspected.

Credit Bureau-free loans are limited to a maximum in most banking houses

Credit Bureau-free loans are limited to a maximum in most banking houses

Credit Bureau-free loans come exclusively from banks abroad. Since the risk of default is very high, especially for Credit Bureau-free loans, the amount paid out is restricted by the banks. In addition, the interest on the loans is above the market interest rate on loans. The amount of the payment for Credit Bureau-free loans is USD 3,500. The Lite Bank from Liechtenstein alone offers a 5,000 USD loan without Credit Bureau. However, these loans are not urgent loans.

An express loan without Credit Bureau is even more expensive than a normal loan. The money you need is available in a very short time. The early processing and payment takes only two to three days for many credit agencies that offer these emergency loans.

The money is often available the next day. However, this only works if all the necessary documents are immediately available. If an urgent loan has been applied for, the payment amount will be transferred to the borrower’s checking account as soon as possible. A cash payment via the postman is also possible with some credit agencies.

The loan offers for urgent loans should be examined carefully before a loan approval

The loan offers for urgent loans should be examined carefully before a loan approval

Home, branch and direct banks do not offer urgent loans. An express loan without Credit Bureau is also not available on credit marketplaces. If a Credit Bureau-free express loan is applied for at a credit agency, high costs are always to be expected. Loan seekers should therefore compare several offers with each other. Since no Credit Bureau information is obtained, these inquiries do not have a negative impact.

Cash loan – why should you take it?

A cash loan is an extremely popular solution where one party lends money to the other on specific terms and conditions. It’s good to know that a cash loan is not the same as a cash loan. In this article, we present a package of the most important information regarding cash loans. We invite you to read carefully!

Cash loan, or a way to financial problems

Cash loan, or a way to financial problems

We often face unforeseen expenses in our lives. In this case, a cash loan can be a godsend. It is worth remembering above all that a loan is not the same as a loan. The concept of a loan includes two parties: the borrower and the lender. The subject of the loan is the amount of money specified in the contract.

A cash loan is also often associated with a specific payment transferred by the borrower to the loan company. At this point, it should be emphasized that a natural person can also be a lender.

The condition is, however, that the subject of the loan is the funds belonging to it. If we take a loan, we do not have to inform the lender of what we want to use the money received for.

Is it worth taking a cash loan?

Is it worth taking a cash loan?

A large number of people ask themselves the above question. It is not surprising. An extremely common question is also where to take a cash loan and what issues to look out for.

To start with, we recommend that you carefully analyze your financial situation. The question is whether we will be able to pay back the loan taken. When choosing the best loan company, there are many factors to consider. We are talking here about the interest rate on cash loans – it can be really varied.

Before we take any cash loan, you should also familiarize yourself with the most important terms such as APRC. APRC is the annual actual interest rate. A very useful indicator, thanks to which you can quickly verify whether a given loan company’s offer is worth your interest. Only the lowest interest rate is important in choosing the best loan online.

Another important element that should be checked is the total cost of the loan. We also recommend that you pay attention to the financial consequences that await us if we do not pay the installments within the deadline specified in the contract. Once we have the contract to sign, it should be read carefully. This is our basic duty, which must not be forgotten.

Quick cash loans

Bank loans are commonly found today and are very popular among customers. Banks try to respond to the needs and expectations of their consumers, which is why they are increasingly proposing something like a quick cash loan. Thanks to this, we have a chance to get the money we need in the shortest possible time.

Credit during pregnancy


A loan during pregnancy is only possible under certain conditions, because in the further course of the financial situation can turn out to be uncertain. The house bank or other credit institutions are anxious to demand appropriate collateral for a loan commitment in such situations.

Options for loan approval during pregnancy

Options for loan approval during pregnancy


In the course of pregnancy, the prospective mother enjoys maternity protection, during which time the salary is granted through automatic protection against dismissal during maternity leave. After the childbirth, the parental allowance comes in a reduced amount against the salary and subsequently the financial circumstances are uncertain. There is no guarantee that the woman will return to work after a fixed break.

If you have a full-time job that has a good salary and the bank account history has been positive, you may be eligible for a loan during pregnancy. However, the house bank is concerned about security and a loan application with the partner or husband as a co-applicant increases the chances of a loan commitment. The second option would be to present a guarantor who is available with appropriate creditworthiness to be taken on duty in an emergency.

Another possibility would be the claim or the extension of the disposition credit at the house. This variant could lead to a mutually satisfactory solution due to the possibility of flexible repayment of the credit line without a fixed installment agreement. With a disposition credit, you do not run the risk of failing to meet your monthly installments. You only have to pay attention to the disposition frame.

The loan commitment for the maximum loan amount

The loan commitment for the maximum loan amount


The loan commitment for a disposition credit or an extension of the disposition credit may amount to twice the amount received in the account. With an average net salary of approx. 1000 euros a disposition credit would be made up to a maximum of 2000 euros. In the case of an installment loan with a co-applicant or a guarantor, the possible amount of the loan must be assessed differently.

With low incomes a credit line of 500-1000 euro would be possible and with a middle income a loan promise would be possible up to an amount between 3000-5000 euro. If you are married and your partner is a very good earner then you can borrow up to 20,000 euros if you have a stable income for both persons. However, this assessment is based on the fact that the credit information and the credit check appear flawless and a repayment of the loan can be made without financial bottlenecks. Under these conditions, a loan may be granted during pregnancy if the co-applicant receives a good financial assessment.

Compare Private Loans – This is how our best works in loan testing!


Compare private loans you can do yourself to be sure which lenders you are comparing. You can use loan brokers to only get one but compare around 20 banks at one time. It is very popular and you can see which loan brokers are most popular with our visitors this week just above the top list.

Compare private loans (unsecured loans)

Compare private loans (unsecured loans)

Find out as many lenders that offer private loans as possible and compare. Then you can choose for yourself which ones to submit a salary application to to see which ones can offer you the best interest rate simply. After all, you have to compare the conditions yourself and which ones fit you best. But the lowest interest rate is always a good basis to stand on, so to speak. If you are unsure, you can contact someone who can help you. 

Blank loans are the same

Blank loans are the same

Good to know about is that many banks call it a bank loan. So when you are comparing this loan you can look for blank loans as well. And if you want to search for guides we have written on the subject.

Boat loans and car loans

Boat loans and car loans

If you are interested in buying a car or a boat but cannot add then a loan without a security is the loan for you. With a loan without collateral you can borrow 100%. So feel free to check out our guides on just car loans and boat loans to compare these loans.

Get help from a loan broker

Get help from a loan broker

A very good and popular alternative is to use a loan broker. Which compares loans to you completely free because they get paid by the bank or lender and not by you who compares. So you can then submit an application and see the interest rates for over 20 banks on just one application.

Compare private loans is a page where we simply explain how YOU can compare private loans . Because we believe that our best in test can be one of the better ways to compare loans. Because we try to get our visitors to compare ourselves and we write about it all the time. See this entire page to understand what we mean by that.

Banks have accelerated and they grant mortgages faster

The average time taken to process a mortgage application has been systematically shortening for several months. At the beginning of this year (in January and February), clients had to wait about 40 days to process their housing loan application.

However, with each passing month the situation improved and in June customers signing loan agreements had to wait for the analysis of the application and finalization of the contract on average 34 days. And what does the right bank do when it examines a housing loan application?

The long waiting period for the bank’s decision at the beginning of the year was primarily the result of a large number of applications submitted at the end of 2011.

Allowed some banks


Many clients wanted to avoid changes resulting from the entry into force at the beginning of this year of the SII Recommendation of the Polish Financial Supervision Authority, which significantly reduced creditworthiness. Submitting the application in the old year allowed some banks to avoid restrictive rules.

In addition, the extended waiting times were affected by the large number of non-working days during Christmas and early January. For these reasons, clients who finalized contracts in January and February 2012 had to wait a bit longer for their applications to be considered.

Currently, due to the holiday season, we should also take into account the extended time for analyzing mortgage applications.

Time to start the loan – here the customer decides


The next stage after signing the contract is to launch the loan. However, this time depends mainly on the client, to a lesser extent on the crediting bank. Depending on the type of transaction (secondary, primary market, construction of the house), customers can run their loans within a few, several or even several dozen days.

Payments on the secondary market are made only after the notarial deed, the date of its conclusion depends not only on the borrower, but also on the seller. The disbursement of funds on the primary market is determined by the provisions of the agreement with the developer and is not directly dependent on the provisions of the loan agreement. Therefore, the time when the loan is paid out is decided by the customer.

Therefore, the time of processing the application is also another element of the loan offer that should be taken into account when choosing a bank. You should not limit yourself to comparing the margin, interest rate and commission for granting the loan. An important issue is the time we will have as clients to wait for our application to be processed. Unfortunately, banks do not undertake bindingly to issue a decision within a specified time. The times given are only declarations, without the possibility of enforcing them in a situation where the analysis time is extended.

Why is it so long to get a mortgage?


If we compare the real average review time of the loan application with the time presented in the side ads, we can see a discrepancy at first glance.

Banks advertising their offers often inform that the customer is able to get a credit decision within 2 days. However, it should be remembered that most often this means that during this time the customer will be verified in BIK, BIG and other registers and the creditworthiness of the potential borrower will be checked. Therefore, after two days, we can receive information whether we have successfully passed the first stage of bank verification.

And to make a full decision on granting a mortgage, the bank still needs to verify the property. This procedure takes a bit longer because the appraiser must go and view the property being purchased. Even in a situation where the customer provides the quote itself, its content must also be verified and this takes some time. Therefore, a complete examination of the application must take at least a few days.

In addition, issuing a credit decision by a bank is not the same as granting a loan. The bank may ask for additional documents (account statements, tax returns), which also take some time to verify. Even issuing a credit decision without any additional conditions does not equal the credit granted. Only signing the loan agreement guarantees the granting of the loan. But even this process requires several days in some banks.

Due to the complexity of the process, the period from submitting the application to signing the loan agreement must take a minimum of several days. The situation, of course, is significantly improved by submitting a complete application, as per the bank’s list of documents. Only after completing all necessary documents is it possible to fully analyze the application. Advertised quick credit decisions are very often limited to issuing non-binding information on the maximum creditworthiness for the bank.

Withdrawal of funds


After signing the loan agreement, the next stage is starting the loan. The procedure is different on the primary market than when buying a used property. The basic condition for the withdrawal of funds on the secondary market is the signing of a notarial deed and submission of an application for entry of a mortgage to the bank.

These are activities on the side of the client, not the bank, hence the borrower decides about the time of payment. Of course, the bank reserves a minimum time to verify the submitted documents (notarial deed), but usually it does not exceed 3 business days.

The procedure for launching a loan on the primary market is similar, but instead of the notarial deed, we must provide the developer signed contract for the transfer of receivables from the preliminary contract signed. Funds are also paid out after a maximum of 3 days has elapsed since delivery of the complete set of documents.

Worth buying with a credit card, we’ll show you the benefits

One of the easiest ways to reduce our bank charges is to use a credit card. Many people are afraid of this little plastic card and prefer to pay with cash or credit card. However, you can only win by using a credit card, since in most cases, the bank will refund a certain percentage of your purchase amount.

We need to pay a little attention to managing our finances and replenish our credit line on time so there is no loss. Here are some great opportunities to get back more than $ 10,000 in purchases a year.

Even with minimal care, you can save a lot by using a credit card that gets a percentage refund on your purchases. An average family can get a refund of up to $ 500 per month if you choose this payment method. Even after deducting the card’s annual fee and any other charges, this amount can save you more than $ 10,000 a year.

You can save a lot by using a credit card

You can save a lot by using a credit card

People are usually afraid of the unknown, including their credit card, but only until they know the simple rules for using it and the benefits it offers them.

Usually, all novelties are accepted with caution, and if you read credit cards, for example, that they can permanently push you into debt, you will be deterred from using them. But there are only two simple rules to earning thousands of dollars a month using a credit card. First, let’s see the rules and then show you how much you can win with credit cards.

There are two important but simple rules to follow

There are two important but simple rules to follow

First rule: Refund your credit card account in a timely manner for the amount you spent in the previous billing period. We can set a reminder for you, but the bank will also send you an SMS about the due date and the amount due. And with a credit line replenished in time, we’ll be beyond all of our troubles.

If we forget to replenish our credit line on time,

If we forget to replenish our credit line on time,

we would have to pay a fairly high interest rate as a punishment for our oblivion. But there are so many other things to do, for example, if you forget to buy a sticker when using the freeway or pay a fee when parking, that is a penalty.

There is no doubt that credit card business for banks is based on human forgetfulness. But even if we pay a little attention to the deadline when it comes to transferring money, we are certainly not going to be trapped by high interest rates.