From the renovation of the house to the purchase of a used car, from family vacations to the organization of the wedding: there are many reasons why it is convenient to have some liquidity. And when this is not there, you can always request a personal loan.

In Italy, the number of people requesting a loan is increasing.

As reported in the Observatory on Retail Credits (published by CRIF that manages EURISC, the main Italian credit information system that collects data on loans requested and provided to individuals and businesses) in June 2017 there was an increase of 2, 4% on requests for new and finalized personal loans compared to June 2016.

At the same time, another phenomenon is being observed: the increase in requests for online loans. In the last year more and more Italians have turned to institutions that allow you to make the loan application online.

But why apply for a payday loan online? Green Day’s online application is quick and easy. Here are the main advantages.

1 – Comfort and speed.

To request a loan online you do not need to go to a physical office, doing long queues and wasting time. All you need is an internet connection and a laptop – sometimes you do not need that either, just a smartphone – and you can make the request in a few minutes and comfortably seated on your sofa (so much so that in the UK this loan mode it has been renamed sofa lending ).

Also, the required liquidity provision is just as fast: in many cases, it takes only 24 hours after the loan application is approved.

2 – Lower interest rates.

Requesting a loan in the “traditional” way, ie going to the desk of a credit institution or a financial company, involves the opening of mandatory practice and advice, with related activation costs.

The online loans, however, are governed by more flexible and less cumbersome procedures than those of loans requested directly at the branch: no organizational costs, no additional charges. The result? Lower interest rates and APR (the Annual Total Effective Rate, the total cost of credit charged to the consumer). Furthermore, the online loan application is free and without obligation.

3- Security.

Reliable institutions and credit institutions are supervised by the Bank of Italy, confirming the total security and transparency of the procedures.

The application is made by completing an online form. The data entered by the loan applications are protected by sophisticated security systems and are used only by the credit institution to query the databases (such as Experian and Crif) to substantiate what has been declared in the application and to guarantee the maximum possible correctness.

This procedure protects not only the lender, but also the applicant: it is precisely by carrying out scrupulous checks that the amount corresponding to the loan can be granted so quickly.

If you need a limited amount for a short period, you can appeal to a mini loan.

With this mini loan or small loan you can for example pay an unexpected invoice, the gifts at Christmas or the school costs of the children. Because you want to have the money from the mini-loan quickly, the costs of this loan will usually be slightly higher.

Does a mini-loan still exist?

Borrowing money through a mini loan is indeed still possible. Only the minimum amount you have to derive was set at 500 euros. A loan for a small amount of 50 or 100 euros will therefore no longer be possible. In the past, certain creditors did offer this amount of credit, although they reported that 0% interest was owed on the loan.

Since the mini credit had to be repaid within 15 or 30 days, the mini credit was not covered by consumer credit protection. That is why in 2012 the legislator imposed additional measures for so-called “flash credits”. Certain creditors decided to stop their activities afterwards. Now the miniature loan actually refers to a small loan on payment.

How fast do I have to repay the small loan?

The duration of the mini loan depends on the amount you want to borrow. For most mini-exercises that fluctuate between 500 and 2,500, the legal repayment term is a maximum of 24 months. This means that you have to repay the loan within 2 years.

What costs are involved in a mini loan?

Just like a personal loan or a car loan , you have to take an interest rate or Annual Cost Percentage (APR) into account for a mini credit. This percentage takes into account all costs associated with the credit. These include the file and administration costs. The differences in APR between providers are often greater for mini loans than for other loans.

Mini loan without work

When you take out a loan, the lender will naturally want a certainty that you will repay the borrowed amount over time. That is why lenders almost always request a copy of your pay slip. Yet there are still opportunities to obtain a small loan without work. This can be done, for example, by showing that you will soon have another job or someone else wants to be able to guarantee your credit. Alternatively, you can opt to borrow money from friends, family or your partner. This is called borrowing private money. As a result, you are not bound by the minimum of 500 euros and you may possibly agree on a longer repayment period.

 

Soon it will be the most beautiful day of your life. You have decided to marry.

Of course, there will be a lot of wedding costs at a wedding party. Through a marriage loan you pay a small fixed amount every month. That way you can still enjoy an unforgettable day with family and friends. Without having to balance your budget for this. 

What costs can I pay with a marriage loan?

Almost everything. A marriage loan is in fact an installment loan. As a result, you do not have to submit proof of the costs you have paid with the credit. For example, with the loan you can pay for a wedding dress, a tuxedo, the wedding at a beautiful location, a car that suits the ceremony, etc.

What do I have to pay back after the wedding?

The advantage of a marriage loan is that you repay a fixed amount every month. At most banks, the amount of the marriage loan fluctuates between 500 and 90,000 euros. Thanks to this amount, you certainly have enough budget to pay all the costs associated with your wedding party. The maturity of the marriage loan is fixed and is between 24 and 240 months. The maximum duration that this loan may have is determined by the amount that you will borrow. This is because the marriage loan falls under the rules of consumer credit as an installment loan.

Guarantee with the loan for a marriage

In principle, you do not have to give a guarantee for a marriage loan. That is a big difference, for example, with a mortgage loan where your house serves as a guarantee.

What is the interest rate on the marriage loan?

This differs from provider to provider. Creditors are free to choose which interest rate or Annual Cost Percentage (APR) they ask for a loan for a marriage. Of course, lenders are obliged to respect the maximum percentage that the law imposes. By comparing different marriage loans you can save on the interest rate.

Save for a marriage or take out a marriage loan?

Something can be said for both options. The advantage of saving for your loyalty is that you do not have to take out credit. That way you have more options to subsequently take out another credit such as a mortgage loan or car loan. On the other hand, you will have to appeal to your savings reserves. A wedding party costs a lot of money. By means of a marriage loan you keep your family budget in balance. The money in your savings account will be retained for unexpected costs that would arise. You pay a limited amount to the lender every month after signing the credit. Of course you have to take into account that you pay an interest before the marriage loan. Borrowing money for a marriage therefore involves costs.

 

When you run different loans , it can be interesting to regroup your credits.

This will allow a lender to repay all your outstanding credits. Instead you get a new credit and therefore 1 contact point. Below you will find an overview of all providers that offer regrouping of loans.

How does the regrouping of credits go in his work?

When you regroup your credits, you actually start a new installment loan. The new lender will repay all your other outstanding loans with this loan. This could be, for example, a car loan , personal loan , marriage loan , Visa credit card credit card , etc. In principle, this loan regrouping loans will be taken out over a longer period. This will also immediately lower your monthly reimbursement amount.

Why is a regrouping of loans interesting?

In the first place you get an overview of your current credits again. If you have different current credits, for example, they will be taken from your account on different due dates. In addition, a specific interest rate or Annual Cost Percentage (APR) applies to each loan. This can lead to complicated situations. With the regrouping of credits you have a fixed term and interest rate. Secondly, the regrouping loan can provide more financial breathing space. Since the repayment term is longer, your monthly repayment will also be lower. This keeps you more of the family budget every month. Finally, the interest rate of the regrouping may also be lower than the highest of the individual loans. For example, the rate of a credit facility is considerably higher than that of a loan for regrouping loans.

Calculate regrouping of loans

Have you decided to indeed regroup your various loans? Then take the time for a regrouping simulation. You only need to enter the total amount that you want to borrow via the regrouping of credits. For example, if you have an open car loan for 20,000 euros and a renovation loan for 10,000 euros, then you simulate a regrouping for 30,000 euros. Eventually the provider will give you a proposal with a APR and monthly reimbursement amount.

Online regrouping loan applications

With many providers you can take out the regrouping loan online. This means that you can make the cost of your various loans at home yourself, and then sign the loan regroup online. Regrouping credits can therefore be done very quickly.

 

Through a car loan you can immediately have your dream car.

With this loan, you finance the purchase of a new car or used car. Afterwards, you pay a part back to the lender every month. Sometimes a lender can set some conditions for a certain interest rate. Below you can compare car loans for the cheapest solution.

The two most chosen car loans:

1. Beobank Car loan- 1.29% >>

2. Cetelem Car loan new or second-hand – 2.25% >>

Why should I borrow money through car financing?

Especially not to balance your budget. Thanks to the loan for a car, motorcycle or mobile home, you do not have to pay the entire purchase amount in 1 time. You can spread the price of the vehicle over several months. In addition, you do not have to withdraw money from your savings account. That way you keep an extra buffer behind you.

How much can I borrow via a car loan?

In principle, you can only borrow the purchase amount of the car. This means that the creditor will pay 100% of the purchase price to the garage or the seller of the used vehicle. Some creditors, however, allow to borrow more than the price of the car. This could be, for example, 110 or 120% of the purchase price. As a result, you can also pay for example the Tax on the entry into service (BIV) or car insurance .

Can I only borrow for a new car?

No. You can enter a car loan for both new cars and used cars. Of course, a lender can apply a specific car loan to second-hand cars. So much depends on the credit conditions of your lender. Most lenders regard a car between 0 and 2 years old as new. You can borrow money for a car between 2 and 5 years old via a second-hand car financing.

Calculate your monthly reimbursement

If you have calculated how much money your car will cost, you can start thinking about the amount of the monthly reimbursement. A car loan is an installment loan. That means that you will have to pay the same amount every month. The interest rate or the Annual Cost Percentage (APR) of your car loan does not change. Your lender will automatically include the interest you pay for your car loan in the amount of the monthly reimbursement. Before you enter into car financing, the creditor is obliged to provide you with a table of the monthly repayments during the whole credit. Prefer a lower amount of monthly repayments? Then change the term of your loan. Calculate the monthly amount of reimbursement yourself via a car loan simulation.

 

Finding the right loan is not always easy. A few little tips and tricks will help you here.

Everyone needs loans throughout their lives to meet a wide variety of needs and desires, or to bridge financial bottlenecks. 

The rate is often crucial

Basically, lower and feasible loan repayments are recommended. Because you can not pay your loan installments, threatening interest rates quickly and an entry in the ZEK register. In the worst case, this even means a credit lock for the future. Not a good idea.

With credit terms can be controlled

Longer terms bring a lower rate, which can be comfortably settled even in financially tense months. However, this will make the loan more expensive for you overall. A fast repayment with low maturity and higher rates, however, helps you to save properly on personal loan. Important to you: You are not bound to an agreed term. You can repay any loan in Switzerland early – often without additional costs.

Interest rate and credit rating are determined

One of the key points in the interest rate is your personal credit rating. Although most credit providers in Switzerland offer similar interest margins: what interest rate you receive in the end, however, depends on the assessment of the respective provider. How likely it is that you can really repay your loan on time. And there are quite a few differences: when examining your creditworthiness, the individual credit providers are very covered – exact criteria are usually not made public. The Beau Geste experts will gladly assist you in such matters.

Use can help save

Another important point: Interest rates on loans can also depend on what you ultimately need your money for. Therefore, it is quite important to specify in the loan application the respective purpose in order to make special offers at the individual credit providers to locate.

Credit takes time

Even if it is often advertised: immediate or express credit overnight, unfortunately, there are not or very rarely. The Consumer Credit Act (KKG) of Switzerland regulates namely that for almost all loans a 14-day right of revocation must be observed, and credits may only be paid out afterwards. Exceptions are higher loan amounts from CHF 80,000 and loans with terms of less than three months. It is also important: A reputable credit check takes time. That’s why you should compare offers early and not worry about your loan at the last minute.

ZEK entries make life more difficult

All loan applications will be registered in the central office for credit information (ZEK). So you should not ask for parallel applications from multiple providers. If a provider rejects your loan application, the likelihood that other providers will not accept your loan application increases. A cycle that eventually makes it impossible for you to get more loans on favorable terms in the future.

Therefore: Before informing, what is the probability of accepting your loan application to the desired provider – by credit comparison , pre-check or even better by professional advice. Especially credit providers with the lowest interest rates often pose the highest hurdles for their clients.

Benefits and Information

Advantages and disadvantages of a credit card

The advantage of a credit card lies primarily in its flexibility. After activation and fixing of the loan amount, the user can use it at any time. In addition, you as the user can decide on the repayment. Depending on the outstanding amount, the credit card company only fixes a minimum amount, usually around 5%.

A term does not exist with the credit card, ie the repayment can be determined by the customer. In summary, it can be said that the repayment and associated costs are at the discipline of credit card users. The difficulty here is to maintain an overview and not to lose control of the costs, especially when owning several credit cards.

Is a loan cheaper?

A personal loan is cheaper, yes. Credit card fees are usually 12%. You will receive a personal loan from 4.5% and by law interest rates may not exceed 10%. In the end, a loan can be saved in the longer term, because the costs are clearer. From the very beginning, you specify in the credit agreement what you spend and for how long.

A personal loan is also more suitable if you need larger sums. You can borrow up to CHF 250’000.-. Protected by the Consumer Credit Act, you are only up to CHF 80’000.-, ie for higher sums you can not take out insurance. The interest rate is set by the bank for the loan. The creditworthiness of the customer, ie the payment behavior, as well as income / expenses are decisive.

Questions about loan or credit card

Any questions about this topic? Or do you already want a loan offer to be able to compare independently??
Our team requests your loan request in 24 hours and is also happy to answer your questions.

Are you paying back a loan and want to top up the existing loan?

 

What do you do if you want to increase a current personal loan? Are you required to apply for the loan from the lender with whom you have already signed the first contract? And how does that affect the interest rate?

To increase credit means: new credit

Anyone who takes out a loan should always plan for a buffer because the financial and family situation can always change. If, during the life of an existing loan, you suddenly need more money than expected, you can top up the existing loan. You proceed as if you were making a new loan request. As a result, you must complete the online form once more and submit the necessary up-to-date documents to the lender.

The choice of the right lender

You are free to step up your loan to another financial institution or banking company other than the one with which you signed the previous contract. However, a credit increase is always an extension of an existing loan. Consequently, the existing lender is always the first point of contact when it comes to extending the loan.

Renegotiate the interest rate on the loan renew

The key question when extending credit is whether, as a borrower, after deducting all existing costs, you are able to pay a higher loan installment. However, as the credit increase is a new loan request from the bank, we are able to renegotiate the interest rate on the entire loan, not just the top up.

Increase or decrease the interest rate?

In most cases, when we increase credit, we can get a cut in the interest rate. But in extremely rare cases, increasing your credit can also lead to an increase in the interest rate, such as when your financial situation has deteriorated, or when your score has been downgraded due to, for example, too rapid succession of loan requests. Most Swiss banks will not lend unless at least 6 months have elapsed since the last loan and it has been fully paid off. Too many loan requests also worsen the credit rating.

Duration of repayment

If you extend your loan, you are free to set the length of the repayment itself: so you can either keep the original duration, extend it or shorten it, if you can.

Let us advise you before you make a binding loan request to extend the loan. We can make a non-binding loan request for you, which is not initially registered by the ZEK.

Less risk and more transparency. That’s why women prefer Social Lending.

The famous expression “men come from Mars and women from Venus” also applies in the world of finance.

Recent studies have shown that women have a risk attitude and make investment choices different from those of men. If on Mars it is mainly focused on traditional investments, that is on the stock and bond market, online lending platforms, first of all, crowdfunding and peer-to-peer lending, are fashionable.

In the p2p lending the lion’s part is played by women .

Women’s investments are becoming a force that should not be underestimated, also because their portfolio begins to weigh more than that of men. In the United Kingdom, for example, the number of single women has almost doubled in recent years and one in four young women earns more than their partner. This is why a recent research conducted by Crowdstacker, a London P2P lending platform, has sought to make the female universe of investments less mysterious

Not just a matter of intuition. Peer-to-peer lending is a rapidly growing market in Europe too, with the UK leader. A study by Morgan Stanley shows that in 2014 the sector recorded an increase of 144% compared to the previous year, for a turnover of about 3.5 billion euro. And then one would say that it is all thanks to the marked feminine intuition. In truth, this is only one aspect. The p2p lending has proved capable of responding effectively to the need for transparency and sharing. In fact, women seek a more ethical and protected investment that presents fewer risks, more protection, possible ways out, constant monitoring, comfort. All features of the new forms of online loans. Another factor that encourages greater participation by women is free access. Because the web is the most democratic medium there is, and it does not make distinctions.

Research results. Intrigued by the Crowdstacker studio, we went to the bottom to see what parameters it was conducted on. The assumption is the way in which we all approach investment, from which questions we ask and in what order. The first question from a woman who wants to invest is: “What are the risks?”, While a man would ask, “How much do I earn?”. This difference in approach, on the one hand demonstrates a greater demand for protection by women; on the other, it highlights their willingness to make a more informed choice and to want to be more informed. And in this sense the p2p lending platforms are equipped to respond to the best, explaining all the steps in a complete and exhaustive way, accompanying investors throughout the duration of the investment, and equipping themselves to make them feel masters of their future, at all times . Even when they decide to change course, withdrawing their money before the agreed deadline. In fact, this greater security is one of the bases of the business of the peer-to-peer lending platforms: what they promise is, yes, an average return expected on the single transaction, but at the same time a more secure and constant return with respect to stock stocks traditional. If the British peer-to-peer recorded a volume of 1.6 billion pounds last June ( Telegraph ) it is also thanks to the efforts of the platforms to make the experience of the loan itself as ethical and protected as possible.

Also here in we work to ensure autonomy and awareness in the management of the lenders’ investments. We have studied the “rapid return” formula in cases where a lender, for unexpected expenses or liquidity needs, wants to quickly get back his money, (subject to the availability of other investors to take over) without waiting for the loans to be completed. And finally, we remind you that the Lender Protection fund is active in , which protects the lenders’ capital even more. And beyond the differences, we continue to work to be able to meet the needs of those who land from Mars and those arriving from Venus.

FinTech is one of the most used terms today in the new economy sector. But not everyone knows the meaning, the economic scope and the reasons for success.

Let’s start from the beginning .

FinTech is the abbreviation of Financial Technology, a term that indicates the new segment of the financial market that is gaining ever more room for maneuver than traditional players in the banking and insurance world. An advance at a gallop that suggests the overcoming of the use of cash in financial transactions. Gianluca Dettori , president of DPixel, a seed-stage venture capital company with headquarters in Milan, is convinced of this and mainly deals with the technical and financial support of the start-ups of the sector. To give him reason is the ” The future of fintech and banking ” Accenture report that brings us back numbers dizzying. Investments in start-ups operating in the sector, between 2013 and 2014, have tripled: from 4 billion to 12.2 billion dollars, with a growth of 201% globally in 2014. And the Europe stood out as the area with the most sustained growth, with a growth of 215% (1.48 billion) led by the United Kingdom and Ireland (42% of total investments).

But who are the new players of innovative finance?

Essentially the main players in this market are online platforms that deal with financial transactions. New companies, with a very streamlined structure, born from Ceo’s ideas that have succeeded in interpreting the needs of consumers, savers and investors in an innovative way. Indeed, if you are curious to know who are the minds that have (and are) changing finance, we refer to the article by Gabriele Malada , published on Smart Money.

The X factor.

As often happens when something is successful, the game lies in finding its secret. In the case of Fintech, the key is the human factor . These companies certainly need economics and finance experts, but also, and increasingly, young computer and digital minds. Because although the web seems impersonal, behind it there are people, mainly young people and, above all, ideas. The areas of application of the financial technology are diverse and numerous: crowdfunding, peer-to-peer lending, e-payment, asset management and investment portfolio management and all the financial activities that until a few years ago were the sole responsibility of banks and credit institutions. These operators come to make space not only for their disruption, but also because they are clearly and objectively cost-effective, managing to better respond to customer needs: fast and secure response to technical and financial problems, creating a relationship of trust between company and user of the service offered, analysis and projection of financial transactions, portability and ease of access through smart devices, speed, etc.

They are also able to continuously innovate their business, investing in new internal divisions (often linked to the digital world) that integrate the traditional services offered. Some disruptive examples, the result of the merger between tech and finance, bring the names of ICT giants like Google, Alibaba, Amazon. Or the Google Wallet online payment service, the Amazon loan service, or the Alibaba subsidiary Ant Financial Services Group, which also specializes in online payments.

A market that pleases and convinces, with a constantly growing trend, and which the Community feels part of!