There are fanatic savers. At the beginning of this year we had a savings bank of almost 344 billion dollars together. A substantial amount! Especially when you consider that the interest on savings is very low.
More striking is that one in six savers has a loan. While a loan costs more than saves money.
Ever-lower interest-rate savings
That the interest you get for your savings is low is no news anymore. The bank has continued to lower interest rates. This has made borrowing money cheap for banks. They therefore need consumers’ savings less and they are therefore less willing to pay for this. At most large banks, the interest on savings is now also below 1%.
There is another thing that makes saving unattractive: the capital contribution levy. Did you save more than 21,330 dollars? Then you pay tax on the return that you achieve on the amount that you have more.
But with the Tax Authorities they still assume a return of 4%. While most people simply have the money in a savings account and therefore earn less than 1% in interest. This will change in 2017, but at the moment you are still expensive with a full savings account.
Repay loan with savings
Of course: a little interest is always better than no interest. But if you have a loan at the same time, paying off your loan is wise. The interest that you earn with your savings does not outweigh the interest that you pay for your loan. Then you can better use your savings for paying off your debt.
Responsible lending and repaying a loan
Please note: a continuous loan can always be repaid without penalty. But paying off a personal loan can incur additional costs.
Also, do not immediately clear your entire savings account before paying off your loan. Always keep an amount in mind for emergencies. So that you do not have to take out a loan immediately if, for example, your car fails.
Request a loan repayment request
In addition to advising on loan applications, my colleagues and I are also happy to help you repay your loan. For example, do you have multiple loans? Then it can be interesting to look at the merging of your loans in addition to the repayment. Knowing more? Request a free quote now and discover your options.
Are you planning a family trip over Christmas and New Year? Maybe a much needed vacation in the sun, or a ski trip in the Alps. No matter what, it may be good to check now that your finances are stable enough to handle all expenses.
Hotels, restaurants, shopping, spa treatments, ski hire and experiences in the form of concerts or nightclubs. When you set out on a journey, the costs are eased off. No wonder about it, no real vacation if the family is not allowed to indulge in relaxing and fun activities. However, this also means that a buffer is often required to lean against. A sum of money that goes to both planned and unexpected costs.
However, a buffer requires some savings, and it is required of all who have the opportunity to put away enough money each month. In these situations, the account credit service is an excellent solution and a flexible alternative to traditional SMS loans.
For those of you traveling, this form of loan includes the following advantages:
The fact that the account gap is empty may in some cases come as a surprise, and many may recognize in the scenario that the money just seems to have been lost in a hub, without knowing exactly what. In these cases, there is no room for extended messages, although you probably want quick information on whether the claims can be approved or not. Unless otherwise possible to plan and post a travel budget. When choosing an account credit, it is always very easy to apply online, and answers always come immediately.
Account credit is a service that is managed and monitored using a digital platform. In other words, just a simple login is required online and then as a borrower you can make free withdrawals, correct your installment plan and make deposits. Thanks to this, it is possible to make withdrawals anytime – anywhere abroad. In the end, you only pay for the amount of money taken out, and the reimbursement is always made up according to your personal assumptions.
If you want to pay off the entire amount at one and the same time, or if you want to make extra deposits, then it is easily done through that high platform. Account credit is a flexible service without the conditions that usually apply to text loans with high interest rates.
Secure winter travel with the help of Goodmobile Loan and our service account credit which provides a secure buffer to lean on in unexpected or unforeseen expenses. This loan form provides a direct alternative to SMS loans. Apply today!
When taking out a loan you agree to the corresponding conditions. The most important condition is that you must repay the loan to the bank or continuous loan provider within the agreed term via monthly amounts. You enter into this payment obligation when you take out the loan. The bank applies strict rules with regard to the granting of loans.
Taking out a loan (online) is not possible in all cases. There are a number of clear exclusions. You cannot take out a loan in the following situations:
- Your living situation is resident (with parents, family or friends or you live in rooms) and you have a temporary employment contract
- You are self-employed or employed
- You are younger than 21 and older than 65 in the case of a continuous loan
- You are younger than 21 and older than 74 in the case of a personal loan
- You have a negative registration
- You have one or more debts in the form of payment arrears
- You have borrowed more than your maximum responsible continuous loan
- You are single and have a residence permit type 1 or 3, only in nationality
- You live and work abroad
- If your income is deposited into a foreign checking account
Borrow without testing
Especially on the internet is advertised for taking out loans without a review at the . This is offered by rogue parties that do not comply with the rules of the AFM. Borrowing without a test seems to be an attractive option for people who are at their continuous loan limit or who have a negative registration. Thanks to this offer, taking out a loan now seems an option. Granting a loan without checking at the is not permitted.
Your loans and continuous loanen are registered with the . Without checking a new loan you can get a wrongly high loan amount. Based on your personal and financial situation, a maximum loan amount is appropriate, so that the loan is a responsible loan. If you borrow an amount that is higher than your financial capacity, payment problems may arise from the monthly charges.
You get a negative code if you are a few months behind in the repayment of your loan. Borrowing money in this situation means even more payment problems. Professional and reliable banks and continuous loan providers of not grant loans to consumers with a negative code.
Borrow with payment arrears
It is not possible to take out a new loan in the event of payment arrears with institutions. For example, if you are no longer able to pay the payments for your rent, health care or tax and you have a debt with that institution, taking out a loan to eliminate those arrears is not an option.
If you have debts in the form of a loan or continuous loan without payment arrears, you can take out a loan. The relevant customer is advised with a continuous loan specialist to sit down and discuss the options. In some situations, a new loan can prevent debt from rising.
Maximum loan amount
A maximum amount of loans and payment obligations means that you cannot take out a new loan. A maximum loan amount has been determined based on your personal and financial situation. A loan amount above this maximum amount means an irresponsible loan. From the duty of care that we have as a financial service provider, we do not provide irresponsible loans.
If you are looking for a loan, it is important to compare your options. You must be sure that the loan you take out fits your wishes and your personal situation. But what should you actually pay attention to if you want to take out a loan?
Compare on form and content
First, it is important to determine what you want to borrow money for. The term of your loan must fit in well with the life of your product. A loan of 60 months is appropriate for a car loan, while a duration of 120 months is more suitable for a bathroom.
You can then compare the different loan forms. Do you opt for a personal loan or does a continuous loan fit in better with your loan objective? Consider whether you need the security of a personal loan or prefer the flexibility of an ongoing loan .
When you have determined which loan type is the most suitable, you can start comparing the loans. If you want to compare different loans, always make sure that the term is the same, otherwise the comparison will be flawed and you will not paint a realistic picture.
Compare the terms and conditions
Equally important is comparison based on the general terms and conditions. You can then think of:
The advice provided by the bank or the intermediary on, for example:
The risks of borrowing
What happens if you die unexpectedly
Your (financial) future
What do you have to take into account when you turn 65?
Aftercare, how does the bank or intermediary deal with you after taking out the loan?
A bank / intermediary can act proactively (and therefore call you if something changes that could be to your advantage) or reactive (the bank / intermediary will only act if you ask)
Ask for advice
Taking out a loan requires care. After all, you want to take out a responsible loan in order not to get into financial difficulties. If you have doubts or questions, make sure that you seek advice from the bank or the intermediary. Better safe than sorry!
The tiered loan or pull-out loan consists of building a mortgage, involving several credit formulas. A low-valued type of assembly, which nevertheless has great advantages, even if you have to be aware of its disadvantages. The assistance of a broker is essential here to combine security and optimization of this financing.
How does a loan arrangement in 2 lines work?
The use of a pull-out or multi-line loan makes it possible to reduce the total cost of a mortgage, by playing on smaller sums and varying durations, subject to different rates.
For example, under a conventional loan, a loan of USD 200,000 with an interest rate of 3.20%, granted for a period of 20 years, will cause a total cost of USD 70,960.
As part of a 2-line arrangement, the amount to borrow will be divided into two separate loans. The first of USD 150,000 at 3.20% over 20 years, will generate a total cost of USD 53,280; the second, from USD 50,000 to 2.35% over 15 years, will cost USD 10,300. In other words, an overall cost of USD 63,580 and a reduction of USD 7,380!
What is the point of using a pull-out loan?
With an interest rate that increases in parallel with the repayment period, the use of a pull-out loan makes it possible to play on this variable, to reduce the total cost of financing.
Not to mention that the cost of borrower insurance will also drop. Theoretically, the rate associated with the shortest loan is normally lower than that associated with the longest loan. But, even at the same rate, the weight of insurance is reduced, since part of the loan is insured over a shorter period.
To further reduce the cost of this multi-line loan, it is also possible to act on the guarantees requested by the banking establishment. Skilfully orchestrated negotiation could avoid guaranteeing the shortest loan, if the amount and duration allow.
Regardless of these financial advantages, the pull-out loan makes it possible to gain flexibility and management. In particular, in the event of an inflow of money which could settle one of its lines in advance, without however being sufficient to settle the entire credit.
Who can explain the technicality of the financing operation to you: the broker
Up to now little valued, the tiered loan tends to democratize: today, half of the banks offer it. However, the technicality required for its assembly requires the assistance of a credit broker. The only one likely to “erase” the disadvantages of such a device.
A loan with 2 lines (or more) supposes the subscription to two distinct credits, with two monthly payments, two rates, two guarantees (sometimes), two insurances… Consequently, the borrower must support a change of monthly payments at the maturity of shortest credit. Not to mention that they are higher than a conventional loan at the start.
Naturally, it is possible to carry out a smoothing, to have only one and the same monthly payment throughout the repayment of the property, but this will cause a systematic increase in the total cost of the credit.
Thanks to his technical know-how, the credit broker will allow you to make real savings on the loan, while avoiding repayments that are too heavy to bear, given your personal situation and your financial capacity. Only he is able to operate on the different variables, so that you only benefit from the advantages of this device. Do not hesitate to contact a expert for free advice!
Do you want to become debt free? Not only does it have to join the thought, but it requires effort. Here are six steps to becoming debt free!
Think of all the thousands of dollars that go out of your paycheck every single month.
What would your personal finances be like if you only had the mortgage again? Or better yet, what if you got rid of all your debt!
What would you spend your income on then?
Saved and bought new motorcycle cash? traveled much more? donated to organizations? Eaten more out? helped your children financially?
By releasing yourself from all the down and down payments each month, you can focus your income on what YOU want!
Six steps to become debt free
Are you also tired of debt and monthly payments?
An increasing number of Norwegians want to pay down debt. By becoming debt free, you can release monthly all monthly down and down payments and focus your income on what you want, whether it is investment, savings or consumption.
There is no magic recipe for getting your personal finances in order and paying off all debt. Being debt free can be summed up in three short steps:
1. Start with a bad plan
Start with a plan to get started. If your goal is to become debt free, how are you going to achieve it?
Start by writing down some steps you can take and what you can do to get started with being debt free.
Make a plan to increase your income and get lower fixed costs.
2. Have a why
Motivation is important for getting out of debt. Having a “why” makes it easier to endure while focusing energy and effort on paying off debt.
A why is simply a goal you want to reach by becoming debt free. My personal “why” is to go to a motorcycle shop and buy a new motorcycle with cash. For others, the motivation may be to travel more, work less or have more freedom to do what you want.
3. Create a budget
A budget will be your biggest tool for getting your personal finances and consumption under control. Setting up a personal budget can save your monthly savings in a very short time.
By becoming more aware of your consumption, you can use the profits to pay extra down on the debt to reach the goal of becoming debt free.
4. Get rid of debt with the snowball method
The snowball method is based on sorting your debt according to balance and not interest level. This is not the most economically sensible strategy, but it provides great motivation and for many people, the snowball method will be a good strategy for getting out of debt.
For others, it would be wise to refinance all the debt, collect it into one new loan with hopefully better interest rates and thus pay off the debt each month.
5. Have hope!
Have faith and hope that it will be resolved eventually. Keeping the motivation up while focusing on debt repayment, working extra and being extra careful about consumption can be difficult. Especially at first, it may seem like you are fighting in a perpetual downhill battle against debt, but have the hope and belief that you can manage to reverse it.
6. No new debt
Avoid new debt. To be able to become debt free, one must first stop borrowing new loans and credits.
A good idea is to build up a sum of emergency money that you may have available should any unforeseen expenses occur. By having emergency money available you can easily cover any crisis situations that may arise without having to take up new debt.
Also, consider refinancing your debt to get a new and hopefully lower interest rate. Even if you have debt collection or payment note, you can also refinance with a restart loan.
Get a better overview of debt and loans with this free debt overview. Here you can fill in your own figures and follow the development over time.
Why do you want to become debt free?
Having a solid “why” I think is the most important motivation for getting out of debt quickly. It’s not the repayment plan or the tactics that get you debt free, it’s you!
Having someone clear why will stick to the plan you have laid out. This will make it easier to avoid temptations and derailments along the way.
Find your “why” – Make them clear and visual!
- Maybe you want to travel to the US and take a 3-5 week vacation on the road, experience everything and pay everything in cash?
- Maybe you want to go into a motorcycle business and buy a brand new Indian bike cash?
- Maybe you want to help your children financially in the future?
- Maybe you work less – or start your own business?
These are some of my obvious why .. what’s yours?
Refinancing your debt can be a smart choice, especially if you have many small or expensive loans. If you have ongoing debt collection cases with expensive debt collection fees or bad credit, there are still opportunities with a restart loan.
Selecting a new kitchen is not a daily activity. Neither do the financing. How are you going to pay for your new kitchen? There are a number of options. Can I co-finance my kitchen with my current mortgage? Or do I take out a loan to pay for the new kitchen? Which form of financing is most often chosen for a new kitchen?
Personal loan most chosen
Most people who need a new kitchen finance it with a personal loan. Not surprising when you see the benefits of a personal loan compared to other forms of financing and borrowing.
A personal loan is characterized by a fixed interest rate and duration . You determine the term of the loan in advance and fix it. The monthly charges are also fixed; they cannot be changed in the meantime. This gives you the assurance that the loan has been fully paid off on the end date of the loan. Interest rate fluctuations during the term of your loan do not affect your monthly amount. A certain feeling. And you can always repay the loan without penalty.
Interest costs tax deductible
A personal loan that is used to improve your own home, such as installing a new kitchen, gives you a tax advantage: the interest costs are tax deductible. This is not the case with a continuous Valmont.
Loan cheaper than increasing mortgage
The interest rate of a mortgage is lower than the interest rate of a loan, but many consumers forget that a mortgage has a long term (certainly in relation to the economic life of a kitchen) and entails extra costs. If you calculate everything, you will come to the conclusion that financing your new kitchen with a loan in almost all cases is cheaper than increasing your mortgage at your current bank.
The most frequently chosen term for a kitchen loan is 10 years. A lot shorter than the term of a mortgage. If you take out a loan you have no extra costs to the mortgage adviser or notary, but with a mortgage you do. In addition to these costs, the bank may have included in the conditions that there are costs associated with raising the mortgage. This is not the case with a loan.
Our advisors can make a calculation for you free of charge and free of charge so that you can also take out a personal loan for your new kitchen at a low interest rate and with favorable conditions.
Do you want to renovate more than just a new kitchen?
Take out a personal loan with a higher loan amount if you are going to renovate more than just your kitchen. With a special homeowner personal loan, this higher loan amount is possible and you have tax benefits; the interest costs are deductible. A great option if you want to invest in your home.
Concluding one large loan amount is always cheaper in terms of interest than the interest rates of various small loans. And do you have a financial windfall in the meantime? Then you can repay your loan free of charge.
As a homeowner, it is always good to delve into the possibilities of renovating or renovating; owning a house requires maintenance. Thanks to renovations such as a new kitchen or bathroom, an extension or dormer windows, you can even increase the value of your home. In any case, avoid overdue maintenance and thus decrease the value of your home. This prevents a lower asking price if you want to sell your house and it does not benefit your living pleasure.
How much can you borrow?
Are you curious about how much you can borrow for a new kitchen or for a larger renovation? Our advisors can make a personal proposal for a loan that fully meets your wishes. Contact us and request a free quote. We are happy to help you because it is not easy to put together the most suitable loan yourself. We ensure that, in addition to taking out the best loan, you also make optimum use of the possibilities of tax deduction.
With a clearing loan, you can get loans and refinancing even if you have bad credit, debit or ongoing debt collection issues.
One clearing loan or a restart loan will be a good opportunity to get a fresh financial start even if you have poor or no credit from before.
I have written a more in-depth article on how restructuring loans work, but in short it works like this:
A tidy loan can be given to people with security in a home or property even if you have a payment note from before. The lender will clean up your finances and collect non-recurring debt by paying off debt collection companies and pooling all debt into one new, non-recurring loan, hence the name “clearing loan”.
- A tidy loan can be given to people with bad credit
- You can get a loan even if you have a payment note and debt collection.
- You can apply online.
- You must be 25 years or older.
- The loan can provide an easier, transparent economy for those who have long struggled with debt collection or expensive small loans.
Benefits of a tidy loan
A mortgage loan allows you to refinance your debt with one new loan even if you have a bad credit and bad credit.
The mortgage loan allows you to refinance and collect old debt, small loans but also debt collection.
Collecting old loans into a new tidy loan or a restructuring loan can often give you better interest rates, a simpler overview and also lets you drop expensive fees. Especially if you have ongoing debt collection cases, a tidy loan can be profitable.
How To Get Loan With Payment Note
At Finanstipset or Mybank you can apply for a tidy loan and get a non-binding offer back.
To refinance your mortgage or other loan-deferred loan you must have a home or other property that you can provide as collateral, as well as some other requirements:
- Be similar / taxed to Norway for over 3 years
- Have a minimum gross income of USD 250,000 per year. year
- Have turned 25 years
- Own a home and have a rate / eTax / valuation available
- Submit the last tax return and your last three pay slips
Example interest rate: Effective interest rate 6.79% v2mill o / 25years, costs USD 1,895,969, up to 3,895,969. Remember that the example interest rate on a tidy loan is intended as a guide.
Your current interest rate is calculated based on debt ratio, risk, credit score and many other factors. The current interest rate you get through a personal review and a non-binding offer.
Get better credit rating
Even if you have bad or low credit today, there are solutions to repair it. But first, you should actually investigate what kind of credit score you have.
Moneydefend Bank offers a free credit check and at the same time personal tips on how to improve it.
In short, you can improve your credit score and credit score, including the following:
- Have a stable living situation with a permanent place of residence.
- Pay bills on time.
- Get a lower debt ratio.
- Increase your income.
For a more in-depth article, read more about credit score, how to check and improve it.
Comparison of loans & refinancing Conclusion
A mortgage loan or a restructuring loan can be a good option to refinance your debt and debt collection even if you have poor or no credit rating today. The clean-up loan can give you control of your personal finances and get rid of expensive debt collection and collect other loans.
On the other hand, you should go through your personal finances to prevent deeper debts in the future. I myself have discovered how important a personal budget can be for gaining control of the private economy, and you can save large sums every single year simply by being more conscious about money.
You should also consider increasing your income, such as with a side job or a part-time position. The good news is that in today’s modern society, finding a flexible job to make some extra money is easier than ever.