Category Archives: Personal Loan

What is the interest of a personal loan?

Some people have doubts when asking for a personal loan because they are afraid that interest will be too high.

In reality, the interest of a personal loan depends largely on who is the one requesting the money. So at present to have an affordable financial cost we must pay attention to other factors, for example the interest rate and the total financial cost.

The total financial cost is the most important of all, because it is, in short, what you are going to pay in total. How is it calculated? The interest rate is added to the charges for the costs of the operation (insurance, commissions, etc.).

Our advice is that you look at this number more than anything else: the financial cost is more important than the interest rate, because it may happen that a loan with a higher interest rate is the one with the best Total Financial Cost .

 

What exactly is the interest of a personal loan?

interest rate

As you know, the interest on a personal loan is the money you pay to use a foreign capital. To calculate the interest amount of any loan, the following points must be taken into account:

  1. Capital
  2. The time for which capital is lent
  3. The interest rate

In general, interest is reflected in percentage form, for example: 3% interest, and is usually presented in daily, monthly or annual terms.

 

What are the percentages of interest rates in Argentina?

What are the percentages of interest rates in Argentina?

Answering this question is not a simple task. Why? Because the rates vary from bank to bank and are tied to a changing economy like Argentina. The important thing is that, before applying for a loan, you look at the bank that has the lowest interest rate at the term that suits you best.

As you probably know the options are almost innumerable. Let’s see some examples. Suppose we access a loan of half a million pesos. In addition to the rate, we must take into account the cancellation period, if it is flexible, at the customer’s option or not, etc.

Then you have to check if the bank really gives us an extension or not in case we fall behind with the payment of the fee. This is important.

Some banks give up to 90 days without added interest. If you see a bank that offers this, it is a good sign and you should add it to the positive balance.

Now we go to the complicated: the cost of financing. Here are two important points: the annual nominal rate (should be of the order of 45%) and whether or not it is a fixed interest rate. But that’s not all: watch out for the total financial cost. Sometimes, together with all expenses, it reaches 60% per year.

Are you a little dizzy? It happens to all of us. The credits of traditional banks are complex. But take some air because this continues. To everything we told you we must add a commission of 4% in advance. Of course, this is in most banks. If you find one that doesn’t charge you, much better!

If you are a self-employed worker or a monotributista, perhaps at this moment you are wondering what happens to you. In traditional loans, workers in a dependency relationship tend to have more advantages than freelancers. But many banks accept monotributistas as potential clients. In general, you only have to present the latest proof of payment of the monotax, that of the CUIT and an invoice of a public service in your name.

Regarding seniority, for workers in a dependency relationship, it is at least one year, and at least two years for monotributistas.

 

What are the interests of Money4Keeps?

money loan

The amount that our customers are going to pay depends basically on two factors: 1) The amount of money you asked for 2) The time you requested for the money back

Money4Keeps gives you up to 30 days to pay (or a little more if you ask for an extension), but the longer the term, the greater the amount to be returned.

To know what the final amount you will have to pay will be, use the loan calculator that is inside your account once you enter your profile in Money4Keeps. If the final amount does not convince you you can choose not to apply, if it fits your budget the final amount will not change unless you request an extension or delay in payment.

The best thing is that you will not waste time trying the system, because one of the great advantages of these types of credits is that they are fast and zero complicated. You ask what you want, you decide the deadline and send the request.

Loan insurance for professional and personal loans

Guarantee your home loan with loan insurance

Guarantee your home loan with loan insurance

Cogilaw device, you are free to choose a non-bank borrower insurance to guarantee your credit, the credit insurance calculator allows you to compare the offer Sma btp insurance loan with the cheapest loan insurance policies offered by the broker Infant Phenomenon.fr!

SMABTP Insurance

SMABTP Insurance

Founded in 1859 by and for builders, the SMABTP group is today the leader of construction and public works professionals. The insurer provides builders and individuals with a full range of customized products and services. In France, SMABTP holds a quarter of the construction insurance market and has more than 100,000 members. Its subsidiary SMAvie BTP is a mutual company specializing in life and health insurance.

The bank can not refuse you a loan insurance!

According to the cogilaw company of 1 September 2010, the bank can not refuse an external insurance contract if it offers guarantees equivalent to those of the group insurance contract it proposes. By delegating your credit insurance, you can benefit from the best guarantees at the most attractive rate.

Compare the bank’s insurance with loan insurance

Compare the bank

When applying for a mortgage loan, your banker must provide you with a loan insurance fact sheet so that you can compare your insurance offer with coverage formulas issued by others. insurers.

Use a broker to save on the cost of your loan insurance! The brokerage firm can negotiate the price and conditions of your SMABTP loan insurance and allow you to realize substantial savings on the total cost of your mortgage.

  • Companies recognized by banks
  • Dedicated management of your borrower file
  • Immediate and comparative calculation rate and guarantee
  • Response to any request for support

Cogilaw Banking

Better information and freedom of selection for borrowers, with banks being prohibited from imposing their insurance:

  • Equivalent guarantees
  • Explain the refusal
  • Maintain borrowing conditions

Bank  Fecrum law

  • objective towards improving loan conditions; the article “L312-1-2” stipulates that the “loan / borrower insurance related sales” of products and services are prohibited.

Subscribe to a non-bank loan insurance contract

Subscribe to a non-bank loan insurance contract

  1. Simulation on the online loan insurance calculator
  2. Free comparative loan insurance pricing
  3. Contractualization by an insurance expert
  4. Membership in the day if no health problem