Marriage Loan

Wedding rings, wedding dress, reception, all this has a cost that couples can not always finance on their own.

In some cases, relatives can help, but it is possible to use a loan for more discretion and autonomy. If you are in Belgium, a personal loan helps you finance part of the expenses necessary to organize your wedding.

What is it about ?

This is a loan allowing couples in need of capital, prepare the best day of their lives with confidence. Banks classify this credit as personal loans. You can subscribe to it without the need to provide justifications. However, to increase your chances of obtaining it, it would be wise to inform your banker that you subscribe to this loan to finance your wedding. He may then ask you for some supporting documents to verify your claims.

What will it serve?

As this is an installment loan, the contract does not specifically stipulate the use of borrowed money.

The sum obtained can thus be used to cover all the expenses related to the celebration as a whole. You can allocate it to different expenses like:

  • Buying bridal outfits and wedding rings
  • The rental of the reception room and the payment of the caterers
  • The payment of photographers and videographers
  • The decoration of the room
  • Announcements and thank you cards
  • The honeymoon
  • Etc.

The advantage of subscribing to this type of loan is that you know from the outset the time of your commitment and the amount you will have to repay.

Generally, this is a short or medium term contract, which does not commit you for a long time. The interest applied to this type of loan is generally fixed throughout the contract. You are thus sure to pay the same amount until the total repayment of the loan.

How to get it?

Even if the bank does not necessarily ask you why you want to buy an installment loan, it does not automatically give you the money you want. Before accepting your file, it first ensures that you meet all the conditions of acceptance. In other words, it verifies that you have the necessary repayment capabilities.

So that your file is accepted, you must ask for a sum that you are able to repay without difficulty. To determine what capital to borrow, determine your sources of income (wages, compensatory benefits, unemployment benefits, allowances, etc.) and amputate your personal expenses. You will see your monthly repayment capacity.

Is a mortality protection for the loan useful?

With a high volume of long-term loan, a sudden death can be a major financial burden on relatives.

Good if the borrower has taken out a death insurance for this case. A mortality cover insurance is a form of term life insurance. It occurs when the borrower should die before he has fully repaid the loan . Instead of the relatives, the insurer pays the outstanding amount. Unlike a full residual debt protection, it does not pay for incapacity and unemployment and is therefore much less expensive. Therefore, pure mortality protection is more recommendable than a full residual debt insurance . But is mortality protection when borrowing really necessary and are there profitable alternatives? 

Mortality protection is often mediated aggressively

Especially in the context of zero-percent financing or real estate loans is often trying to provide a fatality cover or a complete residual debt protection. Through the mediation, however, horrendous fees are often due, which drive the entire installment loan together with the cost of the insurance in the air. There is often pressure on the consumer: Without credit insurance, there is no credit , so the motto of many providers. Therefore, the potential borrower on site should not be persuaded to premature conclusion of contract and check the offer at home on his integrity. Only then should an informed decision be made.

Significantly cheaper than a residual debt insurance

A residual debt insurance is in the opinion of consumer advocates almost always unnecessary . For the protection package from death, incapacity for work and unemployment, the borrower pays about 10,000 euros for the remaining debt insurance with a volume of 57,000 euros. This results in a calculation of law professor Kai-Oliver Knops In case of a pure fatality insurance only a fraction will be due for insurance premiums of 350 Euro over the entire term. Even those who pay a total of 500 euros in premiums for mortality insurance only have to pay 5 percent of the money for a residual debt insurance. In the direct financial comparison of the two additional forms of life insurance, mortality protection is clearly ahead.

Mortality protection can make sense when buying a home

Like residual debt insurance, it is not recommended to cover death on smaller investments such as a computer or a sofa. These are usually not acquisitions that could threaten the financial existence of the relatives. A mortality protection only ensures that the loan becomes more expensive and longer pay off. Significantly more meaningful is a mortality protection for a car financing , but especially in the context of a real estate financing .
An example is a family that finishes a loan of 100,000 euros and 20 years to finance their home. She chooses a large repayment to settle the debt as quickly as possible. After ten years, however, the husband dies, who has not completed any additional life insurance. Now the widow would have to repay the other good 60,000 euros alone without a mortality cover under the loan.

Compared to these costs, insurance for death is only a fraction. According to data from financial test for mortality hedge about 0.8 to 1.7 percent of the credit volume must be scheduled. Specifically, the most expensive Anbeiter R + V was with 1,704 euros more than twice as expensive as the cheapest company Ontos with 816 euros, which are incurred extra for the death insurance. However, this model example is designed for a 35-year-old and solvent borrower. Those who are less solvent or healthy must reckon with higher amounts. Nevertheless, a comparison of the costs and benefits of mortality protection should be made.

Beware of the fine print

Before concluding the contract, however, the contents of the agreement should always be reviewed critically. The providers like to praise the benefits of a death insurance, but do not point out disadvantages. The small print often lurks hidden power exclusions, which have a decisive effect in the event of damage. Suicide is often not included in the coverage. And who at the time of the contract already suffers from the disease, which is later responsible for the death, receives from many insurance companies no money . Such offers may still be acceptable for healthy people, but especially chronic patients or people with a long medical record is in any case discouraged by such a death insurance. It should also be examined after which period the fatality cover comes into effect. Immediately after the conclusion of the contract, the protection is not yet effective.

Independent life insurance remains the first choice

Although they has set out the benefits of a fatality cover, it considers such protection in the context of a loan only a second choice. Not only does she receive the special loan, she also pays the partner or the entire family. Therefore, comprehensive coverage of deaths always makes sense if the policyholder earns a large part of the entire family’s livelihood. If the utility’s income goes away, children or partners are quickly faced with financial problems. Who already enjoys the protection of a term life insurance, logically requires no fatality in a loan. Anyone who can not afford such a policy or is excluded due to pre-existing illnesses, has the possibility of partial coverage with a mortality protection for an important credit.

Short-term loan: terms, calculator and comparison

There is also another financing option – the short-term loan .

In this case, the main question to be defined is exactly what exactly is a short term and which loan amounts are realistic in this context. Of course, the amounts can well be in the five-digit range, if the budget available is sufficiently high. Normally, however, a short-term loan will tend to be in the range of microloans or small loans available on the market. Let’s take a look at the key details about this particular type of financing.

Short term borrow up to 3000 euros & get in 60 min

Our tip: People who need money at short notice and can repay it within a few weeks / months should take a look at the German provider . Even with bad credit there are short-term loans up to 3000, – € possible. These may even be paid directly to your account in just 1 hour. Here is more information about the Short Loan .

Many names for “short-term loans”

When you first look at this term, you will quickly realize that there are different names for the same product. In the credit comparison , the term short-term loan is actually often mentioned in the same breath as the mentioned small loans, short-term financing or even short-term loans.

Of course, for short-term expenses beyond your budget, you can use the credit line of your checking account or your credit card. However, in your own interest, this should only happen if the credit line is really quickly balanced. Otherwise, customers will pay significantly more than ten percent interest each year if they use it permanently. Normal installment loans are available in part but from as little as two or three percent APR. Even with a short-term loan, consumers should therefore take the time to make an accurate comparison. By the way: Particularly flexible are consumers who have access to an on- call loan .

In this case, borrowers can have a credit line agreed with the bank at any time, similar to a discretionary loan. Interest only accrues for amounts actually claimed. Ideally, you should also compensate these limits as quickly as possible in order to keep interest charges low.

How complicated is the application for a short-term loan?

One feature that distinguishes short-term loans is the often straightforward application and application review process. After all, banks generally see lower hurdles for the award than for a large loan .

Nevertheless, you will encounter a few short-term credit requirements. These are usually these:

  1. a minimum age of 18 years
  2. a first residence in Germany
  3. a German bank account (for withdrawals and debits of the agreed loan installments)
  4. a regular income
  5. sufficient creditworthiness

For such financing, the credit check with Schufa or another credit bureau is certainly also standard – if only because the German legislature provides for the examination of the creditworthiness as obligatory. Accordingly, ” loans without Schufa ” come from abroad. Many borrowers look around there for supposedly better opportunities for offers. However, foreign banks and agency portals based outside of Germany may incur fees which may not be charged in this country. One example is the processing fees that have been banned in the German market for consumer credit for several years.

especially:

Offers from German financiers for a short-term loan are more than enough due to the Internet boom. Concerning the Schufa- information, it becomes clear that with smaller amounts of funding, there does not necessarily have to be a good or very good Schufa score. Even with average results, you have a good chance of success with short-term loans.

More and more loan offers with a very short term

The question asked at the beginning of the definition of the ” short term ” is decisive. New service providers, such as and others, are attracting short-term loans, targeting a maximum of 30 days. The background is, for example, the bridging of short-term bottlenecks until the next salary is transferred or open invoices have been paid by the clients. Even as a loan for self-employed, the offers of many banks and online service providers are now available without any problems. Many other short-term loans tend to use the suffix “short” to mean offers in which the lent sums are repaid within six to a maximum of 12 months. Compared to mortgage lending with terms of 20 years or more, a loan with a 36-month term is, of course, rather short-term.

Larger credit amounts can also be applied for in the short term

In fact, experts in short term loans tend to understand contracts that call for a maximum of 12 months for repayment – exceptions, of course, as always, rule out the rule. It’s not just the young online providers that can apply for a short-term loan. Established direct banks such as netbank and others are also increasingly using maturity terms for their installment loans, whose lower limit is six months. In general, short maturities are beneficial to borrowers of all types. Because as short as the term, the time period for interest payment also falls. Of course, the deciding factor is always the sum that customers want or need to apply to banks, savings banks or agency portals.

Clear details of maximum amounts for financing

 If you have a high income, you can also take on higher short-term loans

The term as such is not necessarily a restriction on the loan amount. For example, there may be instances when companies or the self-employed need loans to cover temporary costs until sufficient capital is available. The sums of money may in such cases be five digits. The credit debt then only has to be redeemed with relatively high monthly payments. Can I afford this as a bank customer, nothing speaks against the project. Low income will inevitably lead to limited opportunities in terms of loan size. The limits for loans with a short maturity of up to six months usually range from a maximum of 2,000 or 3,000 euros. Those who need more money will normally find a less abundant selection in the credit comparison.

If things need to be done quickly, because the need is acute, instant loans with extra-fast checks and payouts make sense. Some providers guarantee immediate on-line checks with a deployment within 24 hours. In general, online loans are characterized by a quick evaluation of the application and an associated quick statement of the approved funds to the specified reference account.

Customers influence the lead times

The promise of a quick and straightforward award requires applicants to prepare well in return. This means that you have all relevant documents for the examination of your loan request at hand and do not have to look for them first. The typically required documents include at the latest for larger loan amounts

  • approval of the required Schufa query
  • the submission of current proof of income
  • Proof of permanent employment or self-employment / self-employment
  • the conclusion of the legitimization procedure

As mentioned, borrowing in Germany does not succeed without the inclusion of creditworthiness. Portals such as auxmoney, where visitors can receive loans from private to private, require this step. Through a transparent presentation of the purpose (such as a clever new business idea) you increase the chances of a timely approval. In this case, the funds come from various private investors who use the platforms as a kind of investment. However, money only flows when the full amount of the short-term credit is collected in the community. If this is not the case, the financing will not materialize. In the case of traditional bank loans, on the other hand, “only” has to agree with the individual bank.

Instant loan loans are quick fixes

In order for the immediate addition to succeed in the application, future borrowers should as I said important documents such as the income tax returns of the past one to three years (for self-employed are statements for several years common practice) promptly to the provider. This works increasingly online. The same applies to the authentication. If the proof of identity was only possible by presenting a valid photo ID by means of the PostIdent procedure, the digital financial service providers and the direct bank are increasingly allowing legitimacy via VideoIdent. To do this, you need a webcam or camera on the mobile device and Internet access for the short-term credit.

The main advantage of many loans with this extra service: → The contact to the support of the funders can be independent of location and sometimes even around the clock – so an audit can take place in real time. If you have sent all the documents to the bank and provided the proof of identity, the credit decision can indeed be made within a few minutes – and thus also the loan payment.

Credits with short maturity can be realized even with low income?

Especially apprentices, students, but also retirees with lower incomes sometimes have a hard time. Even with a short-term loan, the search effort can be quite high. But if it really only needs a loan for one to two months and moves the capital request below 1,000 euros, many service providers turn a blind eye. Occasionally, microcredit and microcredits are even available for unemployment benefits if they are appropriately creditworthy.

But even when small loans usually separates the wheat from the chaff. The majority of offers are for a non-purposive purpose, unless you are applying for a loan like a car loan. Recipients of state benefits are usually excluded from applying for a loan. What sums of money you can repay on time, ideally determine with a household calculator. This should be used by any interested party before non-binding offers are obtained. So you can find out quickly which running costs have to be financed and what rates you can afford! Important: never overstrain yourself.

Why subscribe to a loan works?

Let’s discover together this type of credit.

What is a loan work?

The loan works is a credit that is used to finance the work of a home. It is aimed at owners of a primary and / or secondary residence, as well as tenants of housing. The amount and duration of a work loan is determined by the borrower’s budget and repayment capacity. Note that the maximum amount authorized for this loan is 75,000 euros.

The rate applied is the APR (annual percentage rate of charge) used to calculate the total cost of the loan. It varies generally between 2.5% and 7.75%, and can reach up to 10%. The loan works can be requested from different credit institutions. They should be able to offer credit tailored to your needs and financial situation, given your profile.

What can be financed with this loan?

As a result, a works credit is used to finance projects related to the improvement of an apartment or a house. It can relate to renovation work: new insulation, energy renovation, reconfiguration of the space …

The development works ( decoration and makeover ) are also taken into account by this loan. The latter can thus be used to finance the refresh of your painting or the purchase of new furniture. Finally, the equipment in household appliances (replacement of a stove, purchase of a hood etc.) is included in the loan works.

Loan work assigned or unallocated?

The borrower may be hesitating between an assigned credit or an unallocated credit. How are these two types of credit different? The appropriation allocated works is only used to finance the work for which it has been requested. For example, a credit for the installation of a heating system must be used for this purpose. The borrower is required to submit supporting documents to the lender. The assigned credit provides some security for the borrower as long as the credit is obtained from the completion of the project.

As for unassigned credit, also called personal loan online without proof , it allows to use the borrowed money for any purpose without having to justify the use.

No proof is required on the expenses incurred. The borrower has some flexibility as to the use of the money obtained. This type of loan is more suitable for borrowers who wish to have some flexibility in the use of credit. In short, the choice of credit depends on how the borrower intends to use it.

Other information about the loan works

It should be noted that some works benefit from preferential credits. This is particularly the case of work to improve the energy performance of a home that take advantage. This credit is given by the State and granted by financial institutions.

Note also that the realization of energy saving work in a house is entitled to a tax credit. It is therefore advisable to find out about the various aids relating to the execution of works before applying for a credit for the works.

Installment loan rate comparison

You have unfulfilled wishes? you are not alone.

Whether it is the new television, the holiday trip or even your own home: there are innumerable wishes, but they are not always immediately realizable. Some of us can help out with family loans or friends with a loan, but most people only stay away from the bank, the savings bank or a loan company to borrow money. For most, this is a big step. However, some people do not dare to walk away. Uncertainty and ignorance are often the reasons. In order to shed some light on this obscure topic, below you will find some facts that will hopefully calm you down and make you realize your wish. In the area of ‚Äč‚Äčinstallment credit, there are essentially two types of credit that are dependent on the amount of credit: the small loan and the installment loan. The small loan is awarded on low loans. the exact amount is determined by the various credit institutions; there is no fixed amount. After passing a credit check, the small loan is awarded quickly and easily. the small loan has comparatively low interest rates and is therefore a sensible alternative to the installment loan. the installment loan is given out at higher lending sums and entails higher interest rates. In the installment loan, the term is set exactly and a fixed rate agreed, which must be repaid monthly.

 

Who can use an installment loan for what?

Anyone who has a regular income through a professional activity can take out an installment loan. this can of course be self-employed and freelancers in addition to employees, workers and officials. The regular income is the basic condition for the fixed monthly repayments. Proofs of income must be submitted for the granting of the loan. the possibilities to use an installment loan are innumerable.

Whether you need the money for a TV or a car, whether you want to travel or want to get married, whether you want to buy property in the form of a flat or a house, or, or, or …

it is already clear from this list that for some wishes only a small loan is necessary. Since a small loan is given so uncomplicated, no one should be afraid to take this step. because even a small fulfilled wish can lead to great luck! In addition to such wishes, there is another reason why you should take out an installment loan: You can repost or consolidate existing installment loans to reduce interest rates or rates. another way to save interest is to reschedule your dispo loan. As you can see, there are many reasons for taking a small loan or installment loan.

 

Where do you get an installment loan?

Of course, you can get an installment loan, both in the form of a small loan and an installment loan, from your bank or from one of the numerous other credit companies. the difficulty here is to choose a company. because: what do you decide for? What are the most important data for you? You will be confronted with many terms such as interest rate, term, special repayment, loan amount. One bank offers low interest rates with a 36-month interest rate commitment, while the other bank can offer you not so low interest rates with a 120-month interest rate commitment. what is better? Another important question is the one on the special repayment right. is this important for you, do you want to and can you make special repayments? if you can answer these questions for yourself, you are already a small step further. if you can not find an answer right away, you need to go deeper into the matter and learn a lot. In any case, you must first get information and make comparisons. However, as banks and credit institutions have such different priorities and approaches, it is often very difficult to get the information that matters most to them. This also discourages some people from seeking installment credit or small credit and making their dreams come true. if they dared and successfully collated all the data for comparison, they probably spent a lot of time. time that you could have used better elsewhere. Just save this time and contact our company! Our company finds the right lender for you and your needs from more than 400 banks, savings banks, insurances and building societies. It does not matter whether it is an installment loan or a small loan for your installment loan.

 

Key features of an installment loan

In the case of an installment loan, the most important question is what kind of loan is involved. The decision depends on whether you can take out a cheap small loan or whether it must be a high installment loan. The annual payment is determined, ie the annuity, consisting of the interest rate at which you receive the installment loan and the repayment. Furthermore, a loan term is agreed. This is the period in which you have to repay your loan. Some credit companies offer the opportunity to make special repayments. This will shorten the loan term. If you receive special payments in the form of holiday or Christmas bonus or bonus payments, a special repayment right may be very interesting for you. even though usually only a small percentage of the loan amount can be earmarked annually, it nevertheless means a considerable reduction in the debt installment and thus in the loan term.

 

How can I calculate an installment loan?

Our company offers you a credit comparison online to calculate your installment loan. On the website of an online finance specialist, you can use a credit calculator for your installment credit for free. There are several possibilities: With the help of a budget calculator, you can calculate the maximum credit amount of your installment loan, which results from predefined monthly installments and the term. If you use the credit installment calculator for help, you can determine the monthly installment of your installment loan from a predefined sum by changing the loan term. With the credit comparison calculator, up to five installment credits can be compared. All you need to do is enter the details of your loan offers and you will be given an overview from which you can make direct comparisons. You can not forego the most important aspect of any type of credit: you have to think about how much money you can spend each month on an installment plan. if you have determined this amount, our company will be happy to advise you and help you choose the right installment loan.