Loan installment calculation: duration and interest rate

 

Installment loan

Installment loan

The calculation of the installment of the loan aims to highlight the monthly expense to which those who access a loan from the Postal service Italy group are exposed. These loans, in fact, provide for the repayment of capital to take place within a period established by the contract (the duration of the loan), accompanied by the recognition of an interest rate on the disbursed capital. The total sum must be repaid in installments, which often have a monthly frequency, but which can also be bimonthly or wider. In general, however, this operation makes it possible to understand precisely not only how to calculate the loan installment and, therefore, how much will have to be repaid overall (capital plus interest), but also how much the installment will weigh on our balance sheet each month.

The quickest way to calculate the amount of your loan with Fostal bank is to use one of the many online calculators available on the internet. These are websites specialized in this kind of financial calculations or services made available by portals that deal with financing and comparison of loans. You can use these instruments for Fostal bank loans in the same way compared to loan calculations made by any other bank. In fact, although Fostal bank is a branch of the larger Poste Italiana group, its loans behave in the same way as banking ones.

To perform the calculation, you need some very simple information to find about the loan you intend to request. For example, you might be interested in Fostal bank Loan, with which you can request up to € 30,000, with a duration of between 12 and 84 months. Precisely this information is the most important: any calculator will in fact request the sum received and the duration of the loan. A classic case of Fostal bank Loan could therefore concern a loan of 20,000 euros to be repaid in 36 months. Enter these two data in the appropriate spaces on the online calculation form.

The other information to keep on hand is the interest rate. Pay attention to what kind of rates are required: the TAN, the nominal annual rate, or the APR, the annual percentage rate, which also includes the cost of opening the loan and is therefore higher than the TAN. Finally, the frequency of the installments could also be requested.

Once you have entered this information, the possibility of performing a simulation of the Fostal bank Loan installment will provide you with a very clear answer to your monthly expense for repayment of the loan.

Reschedule Official Loans – Quite Simply With Our 20 Providers

In the case of a civil servant loan, old loans are rescheduled and bundled in a new loan. The advantage of doing so is that only one loan installment needs to be paid to a creditor. See http://directvanqex.com

The Civil Service Loan may be funded through a Civil Service Loan, which is awarded to civil servants, civil servants and academics.

To repay a civil service loan – the rescheduling

In general, civil service loans are not tied to a specific purpose. The loan amount can be used as you wish. Think of a renovation of the property, a new car, a new kitchen or other purchases. An official loan has the advantage that the borrower can choose a long term. In addition, he can count on favorable and constant interest rates.

Therefore, a civil service loan is also used to reschedule current loans. For example, installment loans, car loans. Since the official can expect very low interest rates, it is definitely worth the replacement of the expensive credit line. The interest on the credit line is very high, so it should only be used at short notice.

Since civil servants have a secure and stable job, from which sufficient and regularly incoming income comes from, straight officials are very welcome at banks.

To reclassify the official loan – the debt rescheduling

State servants with their good credit ratings benefit from favorable interest rates, which is why rescheduling can pay off. Thus, a rescheduling that is made on time, replace expensive liabilities with a cheap official loan.

For example, officials who repost a civil servant loan have a better overview of their debts, and in many cases even a significant saving can be made on the bottom line. Also, the financial plan security is improved and important repayments are not forgotten so easily. With a rescheduling on a public sector loan with a favorable interest rate, costs can be saved.

Total credit costs are falling and civil servants can save. Nevertheless, with a free credit comparison, the different providers should be compared. The civil service loan can not be used completely freely, it may even create a debt restructuring obligation.

Anyone who receives a civil servant loan must repay all loans that are secured by salary assignments. Exceptions are the earmarked loans such as a real estate loan or a car loan.

The Civil Service loan – the application for a loan

The Civil Service Loan can be called a bargain among loans. Not only attractive interest rates can be expected, also the flexibility can be seen. For example, a civil servant’s loan with a three-month notice period and no prepayment penalty can be repaid prematurely.

In addition, just the official loan is suitable for larger purchases with high loan amounts. The repayment of the loan can be provided as desired with small installments. Officials should be aware that civil servants’ credit is only available to civil servants, probationary officials and public employees.

The good creditworthiness that comes from a secure job and adequate income, reward banks with good terms. Officers are also good for high loan amounts. With a long term of 15 years and much more. The civil service loan can also be covered by a life insurance policy.

During the repayment period, low rates are incurred. In the end, a large one-time payment will be due, which is paid out of the maturity of the life insurance. For example, civil servants only pay interest and life insurance premiums during their term.

Reposting the civil servant’s loan – is a rescheduling worthwhile?

Rescheduling a loan can be quite expensive after a comprehensive audit. The reason is reflected in the interest rate development. Since there is currently an absolute low interest rate, rescheduling can certainly be worthwhile. If favorable conditions and favorable interest rates are offered, rescheduling can be considered.

Nevertheless, a rescheduling should be planned carefully, because a rescheduling pays off not always. Savings can only be made when loan offers are compared. Not only should the interest rate be in focus.

Also important are the rate and the duration. The official loan is one of the cheapest loans ever that the financial market offers. Banks provide best conditions due to the collateral provided by the borrower. The official loan repayment can be used in the case of a credit line or real estate loan. These loans are usually expensive.

But if they are replaced with a civil service loan, the borrower can save a lot. But even a small loan that was concluded with unfavorable conditions, can be rescheduled with a civil service loan.

Reschedule the Civil Service Loan – the Benefit of Rescheduling

Reschedule the Civil Service Loan - the Benefit of Rescheduling

The official loan or civil service loan is an integral part of the German financial market. He is one of the cheapest types of financing. The official loan is a loan that has different conditions.

So it can be used as the classic installment loan as well as a loan with a life insurance. Debt rescheduling is usually carried out when considerably cheaper interest rates are to be expected. Only then does a rescheduling seem sensible and replace the old loan. The then lower credit costs then create two benefits.

Once, borrowers can benefit from a low monthly rate, which creates extra free space. On the other hand, you can increase the repayment and the monthly rate remains unchanged.

As a result, the loan is repaid faster, the borrower is faster debt-free. Officials benefit most from their good credit rating and the low interest rates they provide. Nevertheless, an interest rate comparison should be sought so that there are no disadvantages in the new financing.

The civil servant loan re-debt – the cost of debt restructuring

The civil servant loan re-debt - the cost of debt restructuring

As with any other financing synonymous, should first be the comparison of conditions in the center. It should compare the interest and contractual terms of the old loan or the old loan with the conditions that come from the new provider. The tied interest rate and the annual percentage rate should be the focal point.

The effective interest rate has combined the processing and administration fees. Especially an online loan offers itself for a rescheduling, as here particularly low processing costs are estimated. Many providers even charge no more fees.

Attention should be paid to civil servants as to whether there is a prepayment penalty in the event of debt rescheduling. In any case, the height should be checked.

Loans to companies and entrepreneurs protested and bad payers

 Providing loans to protested businesses and entrepreneurs and bad payers is not particularly easy, since credit institutions and financial companies prefer to deal with certain incomes based on what their internal risk policies prescribe, especially if the self-employed in issue have been reported among protesters and bad payers in the appropriate registers. As is known, in the face of difficulties in obtaining credit, banks and financial institutions propose a salary-backed solution, which offers solid guarantees, but this type of financing is applicable only to those who have a permanent employment contract, or determined but with a time limit in line with the loan, as well as to pensioners. Is it then impossible to have loans to companies and entrepreneurs protested and bad payers? Fortunately no, there are financial companies that offer solutions that fall within loans without payroll, but they are not many, and certainly the report for the previous financial problems is an obstacle in more.

Loans to self-employed persons reported, why give them

It is natural to ask why the financial companies grant loans to self-employed workers reported to the end-to-end knowledge company or to the Protest Registry, given the high risk profile: well, given the substantial nature of the labor market, where permanent employment contracts are no longer the predominant form of classification, and with the proliferation also following the economic crisis of young and even less young people who decide to open an entrepreneurial activity, the loan without payroll has become an unavoidable necessity to meet the demand, and depending on the individual cases cannot be a discriminating factor tout court the impossibility in the recent past to repay the borrowed money due to lack of liquidity.

This does not mean that it is easy to obtain financing for bad paying entrepreneurs, far from it: the companies that grant them are not many, and never as in this context can the individual case be raised by another. However, given the substantial denial of the classic bank, these financial companies that offer loans without payroll for bad payers still need alternative guarantees, and in general the process to reach the longed for payment becomes more complex.

Loans without payroll, alternative guarantees

So the financial companies need alternative guarantees to provide these loans without payroll to self-employed people like entrepreneurs: the case studies include

  • Loans with guarantor or surety
  • Mortgage on the house
  • Loan with pledge
  • Alternative annuities
  • Loan with bills of exchange

Under normal conditions to obtain a loan without a pay slip, the Unified tax return form may suffice, even better than that of the last 2-3 years, as proof of a constant income without having a fixed income guaranteed by employment. However

in the condition of protesters or bad payers it is almost impossible to obtain in this way a loan without a pay slip, since the mere reporting in the databases corresponds to an insurmountable obstacle, being the risk of insolvency too high. Therefore the only options become these alternative guarantees.

Loan with guarantor

To obtain loans to protested entrepreneurs, the first opportunity that can be offered is that of a surety, or a loan with a third party guarantor. It is not that it is obvious to get this type of financing, but a company that has always had a good reputation, and that due to a sudden problem of immediate liquidity has found itself unable to meet the financial deadlines coming to the alert, could have some good chance of having a guarantor loan approved. Fundamental is that this third figure

demonstrate to the financial company that it has a solid balance sheet and an immaculate debtor spent, without protests and reports of any kind: in fact, if in its turn the guarantor has received reports as a bad payer, it will be impossible to grant the green light to the financing. But even if the guarantor has never requested a loan before it represents an obstacle to the supply, since the company must know the past reputation of the subject, and a guarantor without a past is unreliable as it is unknown to the bank archives.

Guarantees on movable and immovable property

Guarantees on movable and immovable property

Another possibility for a self-employed worker who is in financial difficulty is to rely on what he owns as a guarantee for obtaining liquidity: we thus have a lien on loans, such as jewelery or precious stones, which allows those who deliver them to release the cash consideration of the value of the asset against expert appraisal, and resell the same good to the auction in the event of failure to pay. Another possibility could be the mortgage on a property that allows the entrepreneur, if accepted by the financial company, to obtain the financing he needs. However it is good to keep in mind that for small amounts the mortgage could be refused, as the value of the loan is much lower than that of the mortgaged property: from a technical point of view it would be a partial mortgage, and for the credit institution it would be very complex return of the capital due in the event of non-payment of some installment.

Request funding through alternative annuities

Another attempt that can be made to get a loan to protested companies and entrepreneurs and bad payers is to offer an alternative income as a guarantee, as can be the regularly registered rent of a third property, or a small capital that generates a constant return and that it would not be convenient to release, so you prefer to request a loan. Assuming that a financial company agrees to provide a loan to a bad payer with this guarantee formula, it is necessary to demonstrate during the preliminary investigation that it can continue to be the holder of the annuity in question for the entire amortization period that will serve to repay the loan.

Loan changed

A final possibility to obtain a loan without a pay slip with alternative guarantees is to try to request a loan with bills, where instead of the normal bulletins the payment of the installments takes place precisely through these bills of exchange that are

executive credit instruments which, once the debtor’s signature and stamped by a stamp, authorize the creditors to foreclose the assets for a value equal to the debt also following the non-payment of a single installment, without the need for a conviction sentence or an injunctive payment order.

Generally banks do not willingly grant loans, it is easier instead through financial companies, however the convenience must be well evaluated as the interests are very high and so are the costs related to insurance coverage that are imposed on the applicant.

Interest rates

Interest rates

Already in its “normal” version, loans without payroll have higher interest rates than normal personal loans or salary loans granted to those who can present a fixed income as a guarantee, especially for protested entrepreneurs and bad payers loans of this type, provided they are granted, they represent an exorbitant cost. The basic concept is that the higher the risk for the credit institution, the greater the growth of the interest rate. The APR, the Global Effective Annual Rate which includes all the expenses and financial costs related to a loan, without a guarantee pay slip in such loans starts from a minimum of 12 per cent to rise, so it is easy to imagine the burden at the moment in which even a financial institution should grant the loan to a person reported as a bad payer.

Beware of scams

In addition to the far from irrelevant aspect of high interests, protested entrepreneurs seeking funding should pay particular attention to scams, which especially with the advent of the Internet and online companies proliferate exponentially. We must be wary of loan announcements without pay slips and without guarantees, even for large amounts: generally behind these “baits” there are attempts to steal people’s personal data, and even if the offers turn out to be true, it is very easy for them to interest applied and the related expenses in a surreptitious manner exceed the level of usury established by the Bank of Italy. If a financial proposal seems too good to be true, it probably isn’t.

How to understand if a loan is cheap

We reiterate once again that a loan to a bad paying self-employed worker, as indeed can be an entrepreneur, is very difficult to obtain: but if you find a financial company that is willing to pay it, to understand if the financing is really convenient, you must keep account of these 3 parameters:

  • TAN, or the annual nominal rate : it is the interest rate applied to the loan that must be paid for the repayment of the capital obtained. Personal loans without pay checks usually have a much higher TAN than traditional loans, so the most convenient solution would be to find the one with the lowest possible rate.
  • TAEG, ie the Global Effective Annual Rate : this is the value index that indicates the total costs of the loan, including all the expenses and tax charges related to the loan. Also in this case it is good to identify the lowest APR loan in order to keep costs to a minimum, indeed it is perhaps the most important item to have a concrete idea of ​​what one will have to spend on the loan.
  • Insurance policy : mandatory in loans without payroll, very often it is the most expensive cost item among those related to its disbursement. It is important to understand how much it affects costs, and this item is not always reported in the APR: as a rule, if the policy is compulsory, its cost will already be included in the value indicated above, while if it is officially only optional, but the financial company obliges made to stipulate it for consent to the loan, it may not be counted in the APR, and therefore it will have to be calculated separately.

Independent payers bad loans: who delivers them?

Indeed, there are not so many financial companies that provide loans to protested companies and entrepreneurs and bad payers, but above all by searching online it is possible to come across financial intermediaries that operate by offering solutions to self-employed workers such as entrepreneurs: one of the best known and advertised precisely for financing protesters and bad payers are Prestitò, although they officially declare that they do not provide such loans to self-employed persons. However with a good guarantor you can try to ask, but it is good to know that the path to be followed is quite impervious.

Even Aliprestito offers the opportunity to provide loans to bad payers and protesters, but it is always good to ask one of their consultants what real possibilities there may be. In general you need to lose some time in research and make attempts in every possible direction, or if you do not have the time you can try to rely on an experienced financial advisor, to understand in your own case what the solution might be better and the way to go to get a capital without the guarantee of a certain work income.

Conclusions

We cannot hide behind fake illusions: obtaining loans as protesters and autonomous bad payers is difficult, very difficult, but now that we have left the most difficult period of the economic crisis behind, there is a little bit more. In general, without a certain work income on which financial solutions such as salary-backed loans can be applied, credit institutions and financial companies are extremely wary of granting loans: however the alternative guarantees we have indicated, perhaps combined with a good reputation of company of which one is the owner, could open some possibilities of financing, above all if one is at the first signaling of protest or if one has been the victim of an error and expects only the cancellation from the database, having started the process.

They are trivial examples to say that never as in this context the individual case can change the orientation of a financial company about the provision of a loan to a protested entrepreneur or bad payer : the opportunities are not really many, but thanks to help of an expert consultant it is possible to find the most appropriate and suitable alternative solution for one’s own situation, and in this way, perhaps, succeed in obtaining the necessary capital to resolve the financial urgency of the moment.

Business Loan | Financing for SMEs

At Sebusco, we provide financing for business growth. We finance the entire life cycle of companies, from start-up and early stages, to established and mature companies.
In this case we see the options and financing alternatives for SMEs.

Sources and types of financing PYMES

Our teams of business managers are experts in financing businesses like yours and offer you a Multiproduct Line that provides a practical and flexible financing solution perfectly adapted to your case. You can finance purchases and sales, obtain direct financing through loans, and the necessary guarantees to submit a tender through guarantees. In the financing of sales, in addition to the commercial discount, you can anticipate invoices of national and international clients. In the financing of purchases, we place at your disposal both the National Confirmation and the Import Factoring, to facilitate relations with your suppliers. And you can request both bid and execution endorsements. We can also structure other products that your company proposes. In addition to current financing, we can structure different long-term operations such as renting (for the purchase of new machinery) and rent back (to obtain liquidity with the guarantee of the assets).

In many cases, SMEs are hampered when it comes to obtaining financing without endorsement, given that for many entities it is not enough that the situation of the company is favorable, that is, that it does not have any type of insolvency or non-payment, requesting a guarantee or endorsement to grant the financing.
However, it is possible to obtain financing without endorsement, in Sebusco we do not analyze your company, so we do not require any type of guarantee or consideration when carrying out a financing operation.

Financing lines for SMEs

Within the group of companies that encompasses SMEs, you can establish a segment based on different parameters, such as the number of employees, billing … etc
Considering, in general, SMEs to those companies that do not exceed 250 workers.
So we can segment by establishing the following categories:

  • Microempresa: Those that have less than 10 workers.
  • Small company: The one that counts between 10 and 50 workers.
  • Mediana company: That which has between 50 and 250 workers.

Depending on the size of the SME, you will be able to access some or other of the available financing lines, since in general, you can find financing lines for recently established SMEs and others for solid SMEs that seek to develop and grow.
Influencing, also, the size of the company in the access to the financing and the concession of it.

Non-bank alternative financing for SMEs

Non-bank alternative financing for SMEs

SMEs, nowadays and every day more, are aware of the importance of having different ways to finance themselves, considering that diversifying is an intelligent option to be taken into account, within the available options, it is vital to have a company with extensive experience and track record that can accompany and advise them in the processes and multiple financing needs.

Why count on Sebusco to finance your SME?

-Flexibility
The Multiproduct Line is flexible, allowing you to choose the product or products that best suit your needs and without additional costs.
-Proximity
We have offices throughout the national territory, equipped with managers of companies specialized in offering adapted and customized solutions to each company.
-Commitment
We build long-term relationships with our clients that help us better understand their needs. So much so, that on many occasions, before starting to work with a new client, they take our company reports very much into account.
-Specialists
In each province there is a typology of specialized company more in one sector of activity than in another, so having managers of specialized companies by geographical area and being present in the area, is essential to understand the regional needs of each company and thus provide our best service
-Solutions
We provide both national and international solutions, since our exporting clients are facilitated to collect their sales through International Factoring. And also to those who buy out their raw materials, we can provide them with a credit rating and guarantee their suppliers the payment for the operation.

How SMEs are financed in Spain

A few years ago accessing financing became an arduous task for Spanish SMEs, with multiple obstacles to achieve it and, therefore, supposing a brake on their growth and development. With this experience, SMEs have recognized the importance of having multiple financial providers, therefore, the way of financing has varied from years ago.

Currently, SMEs are increasingly aware of diversifying their sources of funding, with different partners so that access to financing does not compromise their operation and progress.

I am looking for financing for my project

I am looking for financing for my project

In the life cycle of a company, new projects are emerging quite frequently, this being a sign of the proper functioning of the same, however, the company does not always have the necessary liquidity to carry out these new projects with enough probability will bring a great added value to the company, in these cases, companies should see the possibilities they have to get the financial resources necessary to carry them out. A good option for these cases is Sebusco’s investment loans, which are aimed at companies interested in investing in new machinery, it is not necessary a long process and also does not add.

Immediate loans: get loans and loans immediately

Fast or immediate loan

When we talk about immediate loans, we refer to that wide range of non-traditional loans, which can be requested more easily and faster than usual.

The indispensable requirement, of course, to be able to define a fast or immediate loan is that a very short period of time will elapse from the moment of the request to the date of actual crediting of the requested sum.

Due to its characteristics, the immediate loan can be found mostly online, that is, it is not easily found at a physical counter of a bank or at a financial agency.
In fact, thanks to a very streamlined intermediation structure, the web makes it possible to reduce many of the average costs and times of an ordinary loan, making the loans on average less expensive and faster in the delivery.

Obviously, despite the fact that various types of funding are advertised as immediate, in the sense of being credited within a few hours of the request, these are only very rare cases and represent an exception, rather than the norm.

The timing of the disbursement of the so-called immediate loans is almost never less than two to three days from the date of the request and as long as the applicant has promptly transmitted all the necessary documentation and does not have spots in his credit history.

Therefore, at the time the request is sent, it is always advisable to attach all the required documents, such as the tax code, an identity document, the last pay slip (single model for self-employed or freelance workers and pension slip for pensioners), any other guarantees requested.

These loans are of a personal nature, in the sense that they must not be motivated at the time of their request and generally the rate of disbursement is inversely proportional to the maximum amounts that can be requested, in the sense that it is unlikely that loans of a few thousand will be granted over a few days of euros, although in theory there are also several for tens of thousands of euros.

Therefore, immediate loans generally provide amounts up to 5 thousand euros (the limit is purely indicative), delivery times of 2-3 days, although faster solutions are possible and do not require motivation. 

Affordable loans: online financing for young people and retirees

Affordable online loans

Affordable online loans

Affordable online loans are a good opportunity for some social categories that can hardly access traditional credit. Getting a loan, in fact, is not easy: usually, to request one, it is necessary to present oneself with solid guarantees, attesting to a good financial and income situation. In particular, banks require a wage slip as a guarantee, which certifies a regular monthly income. For this reason, employees are said to have more possibilities. So what can many young people who study or are unemployed do?

Among the loans that are convenient for young people, we first highlight those that the banks direct to finance studies and training. It often happens that these loans are provided in agreement with the same school structures, as in the case of the masters. The convenience of these loans may lie in more advantageous contractual conditions than those available on the credit market. Thus, the interest rate applied to the amount received on loan can be lower or perhaps the guarantees required may be more accessible: it is difficult for a training loan to require a student to pay his wages.

In addition to these study-oriented loans, there are others aimed at favoring the creation of new entrepreneurial and start-up activities, which usually involve age limits and therefore constitute a tool open only to young people. But in general, more and more banks and specialized companies offer convenient online loans: these offer advantageous conditions, but at the same time have the advantage of more streamlined procedures and less waste of time, given that all the practices are managed directly on the internet. These steps facilitate access to credit, as long as the applicant has the requisites required by the bank.

Finally, there are also other social categories that can benefit from ad hoc financing: for example, convenient loans for pensioners can be identified, for former public sector workers, among those proposed by the INPS. In particular, pensioners can enjoy loans with salary-backed loans: the advantage of these loans is the certainty that the monthly installment will never exceed 20% of the monthly pension amount, avoiding that the applicant has to take on too high periodic payments for its economic possibilities.

Mortgage annuity loan banks – the participating institutions

To obtain a lifetime mortgage loan from participating banks, it is necessary to comply with the property’s age and value requirements established by the new legislation on the subject. The life annuity mortgage, or life annuity loan, is not in fact a novelty in the Italian credit sector: however, recently some new rules have changed some elements, firstly extending the age requirements which establish that it can apply for it. In fact, before this funding could only be requested by the over-65s, today it is available for all those over 60 and who respect the other conditions.

Mortgage annuity loan banks

Mortgage annuity loan banks

The operation of the life-long mortgage loan has remained the same: the owner of a property can apply for a loan even in old age, but placing the house as a loan guarantee. This is done by placing a mortgage on the building. Since it is an “annuity” loan, no reimbursement or payment of installments is required for the entire life of the beneficiary. In this period, however, interest is accrued, as in the case of any other loan. However, the new legislation provides for the possibility of customizing the methods of returning the amount, allowing repayment at any time or the payment of interest by installments.

The particular functioning of the life loan could however weigh on the heirs, who could find themselves having to repay the sum received on loan from the beneficiary. In reality, the new rules have just intervened to better protect the heirs: the latter can choose whether to repay the loan taken by the parents and maintain ownership of the property, or, within 12 months of the succession, put the house up for sale, repay the bank and then eventually pocket the difference. In any case, the law establishes that the reimbursement paid by the heirs can never exceed the commercial value of the property at the time of the succession (ie the price at which it will be sold by the heirs, who will not be able to pay it).

Even another requirement for obtaining an annuity mortgage loan should help the heirs not to suffer an unfair mark-up: the loan is granted only in the case of easily marketable properties and significant market value, aspects that will be certified by an expert. Finally, the loan usually allows the disbursement of a sum of between 15% and 50% of the value of the property.

 

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