## Where can I calculate a car loan?

This means that multiple interest rates apply to credit transactions. Benefit from these advantages and benefit from low interest costs and efficient loans! You can use the compound interest formula in Excel to calculate the financial impact of a loan or the return on an investment. Of course, this does not apply to the calculation of the annual interest, since this formula cannot be changed depending on the time.

## Which interest rates are the best?

Interest is the basic fee when calculating the total cost of a loan. In principle, a credit company or a credit institution is refinanced by its estimated interest, which can be calculated according to the creditworthiness and the current interest situation of the Capital lender. A house bank approves a certain amount of interest if the savers instruct them a certain amount of money.

In return, a house bank is in a position to participate in the market with the support of the savers’ financial investments and thus receive its own securities. Which interest rates are the best? The initial state, whose interest rate is negative, appears different. The saver wants a higher interest rate. While the borrower wants to make almost no interest payments.

A large part of the consumer loans currently available in electronics stores, furniture stores and hypermarkets invites consumers to a free financing option with an interest rate of 0%, thus tempting them to shop. However, these advantageous financing offers are associated with a corresponding quick amortization. The interest rate of 0% is usually only possible with a term of up to six months.

## Calculate the interest cost on a loan

Basically, it is very easy to calculate the interest cost on a loan. In principle, a consumer must do nothing other than multiply the current amount of the loan by the interest. The results of this division result in real interest costs. If one calculates the interest costs for a loan in the order of 7000 USD with a discount rate of 4.8%, then there are interest costs in the order of 336 USD.

But be careful: These interest costs arise every year, which is indicated by the abbreviation p. A. is marked. Different interest rates can be distinguished in Germany. The level of this interest rate has a significant impact on bank and commercial bank interest rates. The borrower pays the debit interest to the lender. The home saver receives a credit interest from the house bank, which is the opposite of the debit interest.

If your own deposit is ever used beyond the agreed credit limit, this is the overdraft interest rate. The money market interest rate is suitable for short-term investments because it is based on interest rates and rates. The longer a loan is, the higher the associated additional costs. The house bank will charge more interest for the increasing residual risk of long-term repayment.

## Pool credit through a works loan: financing at the best rate?

Do you want to realize your dreams and install a swimming pool on your property? Take the plunge with the pool credit. Our objective through this article is to offer the best work loan, ideal product to finance a new swimming pool. We will mainly see how to receive a positive opinion, using a credit comparator with immediate response.

## What is pool credit?

Have you bought a property and would now like to install a swimming pool to cool off, or to please children and small children? Owning a swimming pool at home is the dream of many French people. This allows you to have fun, but also to add value to your property. Its cost depends on the surface and the type of swimming pool but is overall very important. It is common to have to inquire about the credit 10 000 USD or more to finance a swimming pool.

It should be known that to install a swimming pool on a ground, there are two solutions:

• Do the installation yourself
• Request a professional

If you want to install the pool alone, know that today the pools are delivered directly to your home in kit form. They are therefore often relatively easy to assemble. However, if you want the installation to be done by a professional, you will have to use a manufacturer, a craftsman or the store from which you bought your pool. In this case, additional costs may be invoiced and the pool credit will be all the more justified.

Depending on the pool model chosen and the amount of your pool credit, the rate will vary depending on the financial organizations or the manufacturing companies. Thanks to Sir Credit, it is possible to obtain an evaluation at the best rate, without obligation. Indeed, you just have to fill out our single questionnaire and let us look for the cheapest credit for you in order to save money.

## For an above-ground pool: pool credit against store credit

### What is an above ground pool?

An above-ground swimming pool is, as its name suggests, only placed on the ground and not buried. It is therefore faster to install, because it does not require digging or earthwork. It adapts to any type of terrain and perfectly represents the swimming pool dedicated to leisure and relaxation.

Currently there are two categories:

• Inflatable pools : they are self-supporting and flexible with an inflatable tube and PVC walls. The shape is most often round or oval.
• Rigid pools : they are most often made of metal, concrete, wood or even composite wood. They are much more varied than inflatable pools because they come in different forms: oval, round, square, rectangular, octagonal, hexagonal…

Overall, above-ground pools have many advantages, especially on the financial side, because they do not represent major work for the field. A small consumer loan of around 5,000 USD is sometimes enough to afford a beautiful model.

### Pool credit: what budget should you plan?

As mentioned above, above ground pools have a financial advantage over inground pools. The price can vary and range from a loan of 400 \$ to a credit of 8,000 USD (only high-end models can reach 14,000 to 15,000 USD). Consumer credit will then be of a non-negligible amount, but it is possible to find good compromises.

### Where to find an above-ground pool?

Above-ground pools are sold more easily than in-ground pools, because they do not generate any commitment on the part of the land owner. In addition, they are more affordable. This is why they can be found in several large chain stores. They can also be found on e-commerce sites such as Rueducommerce or Cdiscount. The above-ground pool is the economical, aesthetic and practical solution that will allow you to enjoy a real holiday at home, even if the garden is not large.

### Pool credit versus store credit

With all these suppliers, it is possible to find a credit offered directly at the point of sale, for example through store cards. But these credits are far from being cheaper than those offered by specialists as you will see in our comparator.

## Credit for inground pools: an ultimate dream within reach

### What is an inground pool?

For a more luxurious pool and more comfort, opt for the inground or inground pool. Its installation must be entrusted to professionals, such as masons when it comes to building it, but also to other craftsmen if it is purchased as a kit. The cost of this pool can take off depending on its area and the materials used.

It should be known that for this type of swimming pool, it is necessary to be in possession of a building permit and that it must be the subject of a declaration near the town hall because it is work of installation of a terrain.

An inground pool is durable and relatively solid thanks to its different materials:

• The pool shell is made of polyester, a relatively strong and durable material. The only drawback to be noted could be the lack of space for transport to the garden concerned.
• Concrete is the material par excellence of inground pools. This allows a total personification of your pool: size, depth, shape, and even if for more luxury, an overflow pool is desired, thanks to the concrete, everything will be possible!
• Stainless steel (or stainless steel) which is the most luxury and quality material. Indeed, it will be the most durable for an inground pool.

All this luxury and comfort can escape from your dreams and thus become reality by opting for a low rate TAEG pool credit.

### What is the price of a swimming pool?

Requiring various site development works and using quality materials, the inground pool represents a real budget. Its average cost is.

Indeed, it was noted that for a swimming pool buried in kit, it is necessary to envisage at least a credit 5000 USD. As for the inground pool, its minimum price will be 20,000 USD. Obviously, everything will depend on demand, the manufacturing company and the cost of labor included in the price of the purchase of the pool. It is very important to make several quotes when talking about such large amounts. Finally, note that for a custom buried swimming pool, the price easily reaches 50,000 \$.

### Where to find them?

Inground pools are not bought in a simple store like the previous ones, but bought in one of the brands specializing in this type of pool (Desjoyaux being the most recognized in this area). An appraisal will be made as to the client’s request and following this a quote will be established.

The pool credit is therefore more useful for this kind of project because it represents a significant investment and therefore a significant amount of money.

## Pool credit: choose it well to limit interest

To apply for a swimming pool credit, please fill ou otur questionnaire and select your desired amount and duration. Let us remember in passing that the longer the duration, the higher te amount of interest on the work financing.

To choose the type of pool credit, simply select “work credit” on our comparator.

In addition, not only does it save time using an online credit comparator, but it also saves money because with the best pool credit rate that Sir Credit will take care of, you will save money!

Let us illustrate this with the request for a credit of 10,000 USD for a period of 60 months:

Lowest fixed APR rate: 4.90% / Monthly payment: \$ 187.77 / Total cost of credit: \$ 1,266.00

Most expensive fixed APR rate: 7.89% / Monthly payment: \$ 200.95 / Total cost of credit: \$ 2,034.91

We note that for the same pool credit request from one financial institution to another, there is a difference of 768.71 USD. This difference generally widens further when the amount is higher, and / or when the duration is extended.

## Loans for monthly installments online

Everyone occasionally has sudden expenses for which they lack money. Unless time is urgent and you have good credit standing, most people think about going to the bank and applying for a loan first. However, when you get a negative decision because, for example, you don’t have an employment contract or your credit history is not crystalline, then there is a problem.

The non-banking services sector is helping. Most often, loan companies are associated with loans borrowed for a short period (payday loans). Meanwhile, they also offer installment loans. If you look at it a little closer, it turns out that they can be an attractive alternative to banking products. What exactly is this and what does this type of loan involve?

## Online loans in installments

Years ago, when loan companies had just started to appear , the small payday loans were their flagship product. But since then a lot has changed, and at the moment such institutions have products that correspond to bank loans. Online installment loans are nothing new, though many people are just discovering them.

Online installment loans are something between a bank loan and payday loan. On the one hand, they are contracted in the non-banking sector and there are not many formalities. On the other hand, they are paid in installments according to the agreed schedule, which in turn is characteristic of loans. However, to get a loan, you have to meet many requirements. Banks verify creditworthiness, credit history, including BIK, analyze all household expenses. Installment loans are much simpler when it comes to procedures, and no loan company sets such stringent requirements as a bank. This is especially evident in online loans.

## What is an installment loan?

Online installment loans are services that many loan companies have in their offers. The amounts at your disposal go far beyond what payday loans offer. Installment loans are therefore a great option for people who need money fairly quickly and the amount they want to apply for is large and impossible to pay back once. It is also an option for all people who, for various reasons, do not have to count on getting a bank loan. You don’t have to have many formalities to get installment loans , which makes them more accessible. Internet loans have just as few formalities as payday loans.

## Installment loans outside of the internet

Like payday loans, installment loans can also be taken online. Both services are offered by the same financial companies. The procedure for analyzing the application also looks similar. Equally, non-bank installment loans are available online. At the same time, they are significantly different from payday loans. First of all, the repayment is not one-off, and it takes place in installments. The repayment time is set individually, but usually it can be up to several years. Although installment and payday loans are granted very quickly, payday loans can be on your account even within 15 minutes of submitting your application. Meanwhile, with an installment loan it can take several dozen hours.

Loans for monthly installments over the internet are growing in popularity, which is due to many advantages. As with other non-bank business services, you quickly decide whether to grant or not. Because loan companies have more room for maneuver than banks, they can be much more flexible and can offer conditions tailored to the borrower’s needs. The repayment can relate to a 30-day period, and it can be 50 or 60 months. So it’s easy to choose a repayment system that’s convenient for you. Due to the fact that the money is regulated in low installments, the risk of delay is significantly reduced.

## Fast installment loans online

An online installment loan can be granted almost as quickly as a payday loan! Choosing to apply online, reduces the formalities to a minimum. Decisions about whether online installment loans are made even in one day. The same is waiting for the transfer. Considering how much time you have to wait for money in the bank, the loan is obtained at an express pace. Quick installment loans are just as easily available as payday loans.

The assumption of all loans online is to minimize formalities. The customer can turn on the computer anywhere and fill out the appropriate form. It has no complicated queries, and you don’t have to prepare many documents for verification. Thanks to this, employees of loan companies are able to analyze and determine the customer’s creditworthiness on the same day. In some cases, you get an answer after a few minutes.

## What are the costs of an online installment loan?

Loan companies differ significantly from each other. This applies to both the functioning and the conditions, the amount of formalities, the sums that can be borrowed, and finally, the costs that are added to the basic amount that is borrowed. In the case of bank loans, you always have to reckon with the fact that interest rates, insurance and many other small costs will be a lot. With payday loans, you can even find free offers. And what does it look like when someone is interested in an online installment loan?

Before signing the contract, you should carefully analyze all points. Knowing how much an online loan actually costs, you can estimate whether the borrower is able to pay the loan back on time. Most people have no idea what components make up the total cost of the loan. Therefore, when you do not read the end of the contract, you may experience unpleasant disappointment at the first installments.

The installment loan is made of several components. The main amount is of course the capital part. This is the value claimed, without interest and interest. Apart from it is the APRC, i.e. the total cost of the loan per year. Comparing several offers with each other, the best will be an online installment loan with the lowest APRC. Next are the fees that arise if the repayment date is extended or exceeded. Here you can also deal with different values. While many loans are profitable when they are repaid on time, in some cases, when they become debts, the costs go up dramatically. When choosing installment loans online, you have to remember that.

## How many installments can you make an online loan?

If this loan is to work exactly like an online loan in installments , then the liability should be spread over time. And it really is. However, the number of installments available can be variable. A lot depends on the loan company. The maximum can be 60 equal installments. Knowing the amount that the future borrower will apply for, he can easily verify that the amount and number of installments are satisfactory. To do this, simply visit the website of the loan company, then enter the amount and you can get an example simulation at what level will be the installments.

Observing the trends in recent years, it is easy to see that the online installment loan , which is the most popular, is for 12 or 24 months. Rather, few people decide on the maximum repayment time. This is important, for example, when financial difficulties arise in the future and the customer wants to extend the repayment period. If the online loan installment was for the maximum period, this option will be impossible.

## How do you choose the best installment loan online?

Non-bank installment loans are available in many places. Loan companies are observing the market and which groups could be most interested in services. They noticed that among potential customers there is a group of those who need more money and for a longer time than payday loans offer. Due to the fact that they want to be competitive, they expand the offer. However, not all non-bank installment loans are equally attractive.

To find a loan tailored to your needs, you need to check at least a few of them. Offer comparison websites will be helpful. Once you see what a quick installment loan seems to be, then before you sign the contract, you need to verify that the loan company is reliable. Be careful if your site doesn’t have much information, such as your phone number, tax ID, or address. And even when they are, it is best to verify the list to see if the company is operating legally.

When analyzing the installment loan agreement, you need to analyze all the points of the agreement. In particular, costs that may be at a different level in each company. When deciding on installment loans, you need to think carefully about whether you really need to take on more commitments. There are situations when loans are the best solution and they really provide invaluable support. However, when it comes to taking a loan to pay back previous loans, it is better to refrain. Otherwise, it’s a simple way to get into a debt spiral.

## Understand Why Credit Recovery For Your Customers

Due to the financial crisis or lack of control, some companies present a list of delinquent customers. That is, there is loss for the sale or acquisition due to that receipt blocked. To reverse this situation, you need to work with credit recovery. Credit recovery works by contacting and negotiating with certain consumers regarding a backlog or debt. In this case, it is common for companies to hire a call center that specializes in the negotiation issue.

So credit recovery is a way of rescuing certain debtors and assisting companies with assets and backlogs. There are even some businesses that specialize in negotiating or taking on the debt portfolio of other companies. Be careful that this activity does not negatively influence financial education!

## What is the difference between recovery and credit recovery?

Delinquent credit recovery is a way of contacting the consumer who has outstanding debt and trying to negotiate it so that the credit can be repaid. Delinquent claims usually have bids that are out of touch with the debtor and therefore tend to be unpaid. However, the credit recovery companies act on the proposal to negotiate this debt so that it is accessible. Regarding the difference between a collection company and credit recovery companies, it is worth understanding that one intends to remind or appeal for repayment of debt, the other intends to recover and negotiate payment, respectively.

Therefore, the charge is a reminder that the debt has not been paid and is a call for repayment. But credit recovery is different in this respect, being more a way to negotiate so that the amount can be paid by the consumer. Thus, knowing about credit recovery allows companies to acquire capital that was previously considered “lost”, and through this maneuver, still improving the relationship with the customer and maintaining a good bond between the parties.

Therefore, the difference between recovery and recovery is:

• The collection is more worn and is usually made by the credit granting company itself;
• Recovery has a different relationship margin and can be done by third parties or specialized companies.

In addition, sometimes recovery has less wear on the customer and even relationship maintenance.

## What are the benefits of credit negotiation?

Credit recovery companies are based on the negotiation of a capital considered inactive or outstanding, unpaid debts. In turn, the role of the credit recovery company is to assist consumers and businesses in:

• Helping companies get back the capital stuck in debt;
• Negotiate directly with customers and thus lessen the image of the company;
• Offer more attractive opportunities (for both).

Finally, credit recovery is a collaborative way to negotiate a debt that was in limbo. Therefore, it is important for the client to be open-minded and honest about their reality. This way, the company will better understand your situation and try to come to an agreement that suits both of you.

## Where to find the best new motorbike credit?

Several options are possible when you want to finance a new motorbike on credit:

• Opt for a motorbike credit online
• Choose a motorbike loan in a concession
• Apply for a motorbike loan from your bank

Online motorbike loan agencies generally represent the best alternative for limiting interest. Our experience in the comparison of loans shows that bank rates rarely compare with those of specialists such as Bankrate, Bank or Yapbank. These large credit organizations indeed offer suitable solutions. Their 100% online experience above all makes it possible to deliver an immediate response online, without obligation. A good way to get an idea of ​​the state of the market. It is still necessary to have the reflex to go through a comparator.

You have to select “new auto loan (- 2 years)” on our credit comparator to access the best car or motorbike loan rates.

Good to know: you must provide a vehicle order form to obtain a new or used motorbike credit, on the same principle as the car credit simulation. The motorbike loan is sometimes integrated into the auto credit comparison at organizations.

### Best motorbike credit: why compare rates?

The best credit is generally the property of credit organizations, but not all of them display attractive rates. The rate can indeed vary depending on the amount of the bike, but also the repayment period. It can also be a matter of the organizations’ commercial choices, some of them displaying temporary promotions, for example. Connected to the largest financial organizations, our auto or motorbike credit comparator bases its ranking only on the basis of the APR rate.

#### Example of a new motorbike loan online

A simple simulation of 10,000 USD over 36 months from our comparator shows how variable the APR rates are.

Our auto/motorbike credit comparison leads to an immediate response in principle. Three simple steps allow you to access this first opinion without obligation:

1. Fill out a non-binding form, taking care to indicate your situation and your need (amount/duration of reimbursement).
2. Note the rate of the best credit organization, as well as the immediate response of the organization, ranked first.
3. Receive the answer immediately, while having the possibility of asking the opinion of the organizations classified in 2nd and 3rd position in case of negative opinion at the best rate.

Allowing you to definitively validate the conditions found on our comparison engine. It then only remains to collect the supporting documents mentioned in the contract, to verify that it is indeed the best motorbike credit and to return the duly completed documents.

## Best used motorbike credit

There are two solutions to buy a used bike on credit:

• Go through a used car/motorbike loan
• Opt for a personal loan without proof of use

Credit organizations obviously offer used car or motorbike credit solutions. The rates are slightly less attractive than those of the new market. It is still more interesting to opt for a second-hand motorbike loan rather than performing a personal loan simulation without proof. Motorcyclists wishing to buy a second-hand vehicle via a second-hand motorbike loan must, however, provide a compulsory order form. This document reassures the lender about the project. However, all projects whose outlines are well defined are more likely to result in a low rate proposal.

You have to select “used car loan (- 2 years)” on our credit comparator to access the best second-hand motorbike loan rates.

### The motorbike loan without proof to be provided

Sometimes it is impossible to provide proof of purchase to the financial institution. This is particularly the case when the vehicle is offered by an individual. In this case, the personal loan is the most suitable for financing the machine. Without proof of use of funds, this type of loan is one of the most flexible. The amounts can reach 75,000 USD, the maximum authorized under the personal loan (see law). The repayment tenure is as important as in the case of a new motorbike loan.

## What about the motorbike LOA?

Some dealers now offer LOA solutions for motorbikes. The principle is to access a recent racing car by paying rents calculated on the basis of a kilometer package, by choosing whether or not to include maintenance and any additional guarantees. It is possible to buy the motorbike at the end of the contract, subject to paying the amount defined in advance. If necessary, the motorbike goes back to the dealer, who then offers to start on a new LOA formula. Very popular for cars, these LOA solutions are often more expensive than the classic car or motorbike loan. This is in any case what is calculated in our opinion on the LOA.

It is also difficult to estimate upstream the number of kilometers that one will travel at the wheel of his machine. However, in case of exceeding the fixed price defined in the contract, the note is very salty. We prefer to opt for a credit purchase and resell the vehicle after two or three years to settle the loan and consider a new purchase rather than engaging in an LOA.

## Motorcycle LOA or classic motorcycle credit: how to choose?

The LOA moto works on the same principle as a LOA formula for cars. It therefore raises the same questions, and does not necessarily adapt to all riders. Update on the conditions, advantages and disadvantages of rental with option to buy a motorcycle.

## What is LOA for motorcycle?

Three out of four French people opt for an LOA solution to the detriment of a car or motorcycle loan to finance their new vehicle. Leasing with an option to buy consists of renting a new or second-hand vehicle, for generally affordable monthly payments, on the basis of a mileage package fixed in advance.

A “maintenance & repairs” contract can also be taken out in certain cases, as well as various complementary insurances. The duration of a motorcycle LOA rarely exceeds 48 months (4 years) . The principle is to have the possibility of changing a racing car regularly. Once the duration of the rental contract has been reached, it is possible to buy the vehicle or return it in excellent condition.

#### The LOA moto seduces mainly for two reasons:

• The monthly payments are generally less important than those of a classic motorcycle loan.
• Credit is sometimes more easily accepted than a repayable car / motorcycle loan.

We will however see that this solution has many gray areas. The LOA moto is not suitable for all profiles , far from it.

## Motorcycle LOA: a formula with obvious limits

Here are the main reasons to prefer a cheap motorcycle loan to an LOA solution:

• It is a rental and you never become the owner before having paid the total amount due at the end of the contract. The price of the motorcycle is fixed in advance, and the amount to be spent generally corresponds to around 30% of the initial cost.
• Big wheelers will pay a huge mileage charge . The LOA contract indeed includes a mileage package not to be exceeded. Bikers accustomed to exceeding 20,000 km per year will therefore pay dearly for their motorcycle LOA.
• The APR rate is not mentioned . So you never know exactly how much LOA consumer credit will cost us.
• The motorcycle LOA contract incorporating repairs and other maintenance packages is sometimes very expensive, and not necessarily suitable . We had already pointed out this practice to inflate the total cost in our survey “LOA LLD, car credit: which one to choose?” “

The LOA new or used motorcycle does not therefore adapt to all bikers. The classic motorcycle credit is in some cases much more attractive. We took part in a comparison of LOA rates against conventional credit in our opinion on LOA. The result leaves no room for doubt.

## Motorcycle credit, a more transparent solution

The classic motorcycle loan provides access to several advantages, starting with that of becoming the immediate owner of the machine. Credit organizations all offer solutions adapted to the financing of a two-wheeler.

Using a credit comparator helps identify the cheapest credit solutions. The monthly payments are generally higher than on a motorcycle LOA, but the APR rate is much less important.

### Comparison of motorcycle loan rates

Here is an example of a 10,000 USD motorcycle credit simulation over 36 months, made using our comparator. We find that if the two best organizations have a competitive rate, the third is much more expensive.

## Motorcycle LOA or motorcycle credit: our opinion

As we have seen, the choice depends on several criteria. However, be aware that the LOA motorcycle does not allow you to become an owner. It will therefore be necessary to plan to drive according to the mileage plan established in the contract. Any overshoot can indeed result in significant costs.

The costs, precisely, are more important in the context of a motorcycle LOA than for a conventional credit. In exchange, the lender provides access to a motorcycle for often very affordable monthly payments.

## Self-service loans and sending an ID card scan

An identity card is the most important document that you must guard very carefully. If it falls into the wrong hands, it can cause us problems, such as loans or installment purchases incurred on our behalf. Do online lenders have the right to ask us for a scan of evidence?

The offer of parabanks is attractive due to the speed of provided services and the fact that they do not require going to the company’s headquarters. This does not mean, however, that the borrower is exempt from the obligation to confirm his identity. What to do if you are asked to send an ID card scan? Can offers in which non-bank loans are a necessary condition to be considered safe non-bank loans?

## Lending and identity theft

It is not difficult to imagine the situation in which an uploaded ID card scan is distributed on the Internet. For this reason, the Inspector General for Personal Data issued a statement in which he emphasized that scanning and sending copies of identity documents should be carefully analyzed each time.

Lenders secure themselves by asking them to confirm their identity in such a way as to avoid the risk of online loans being granted to non-existent persons. For this reason, some parabank offers require a scan of ID card or other identity document as a prerequisite. It is worth knowing that as consumers we have the right to opt out of such an offer and look for another one in which our identity will be verified differently. For this purpose, it may be useful to rank the payday loans that compare verification methods. However, what if the instant loan suits us in terms of the overall cost and the only doubt remains the sending of proof?

## Can the parabank demand a scan of evidence from us?

ID card scans are most often needed by companies that provide their services remotely and belong to the financial or telecommunications sector. Traditional banks ask for this type of document when setting up a bank account or as a supplement to documentation for a loan, eg a mortgage. Sometimes, loan companies also ask for proof scans, but it’s worth knowing that this is not the only possible way to verify your identity!

A loan can be granted, for example, to the account from which the so-called verification transfer. Renowned brands with a long tradition have their own dedicated mobile applications that enable their users to make quick loans without scanning any documents.

These types of companies have the right to request clients an ID card scan, but of course the customer has the right to refuse them. In this case, the offer will probably not be redeemed.

## How to securely send a scan of evidence?

If our selected parabank does not provide an alternative option of identity verification, and we are determined to offer it, we should ensure that a copy of the proof is as secure as possible.

For this purpose, you should find out from the lender what data from your ID card will be relevant to him and mask the rest in the graphics program. Sometimes, to provide an online loan, you only need to confirm your name and surname, eg your date of birth – in this case your number and ID number may be masked. However, if the parabank needs all of the above-mentioned data, you can try to scan on the proof of watermark with the text that this copy can only be used for a specific period of time by a particular parabank. However, this will not save us from the situation when a possible bystander will read the data and use them without removing the proof.

## Secure non-bank loans and bank loans

A very good way to take care of your finances is to use the services of the Credit Information Bureau – the so-called BIK alerts. The cost of such a service is about twenty dollars for the whole calendar year. What are the alerts? Every time a credit or loan application is submitted (in any institution), an SMS is sent to our number with information about this fact. Thanks to this, you can guard against the financial consequences of possible identity theft.

## Credit and loan – how do they differ?

There are many financial products on the market that are used by more and more people every year. Some terms are used interchangeably, but in practice they do not mean the same thing at all. Loans and loans are examples. Both services involve borrowing money for a limited time, but at the same time there are a lot of significant differences between them. What connects them and what divides them? When is this option worth attention?

When we talk about loans and credits, we don’t think about whether they mean the same thing. It is obvious that we take money from a financial institution for a given purpose and we have to give everything back by the given date. Still, the exact rules for granting, paying off, and even interest costs are quite different. Each of these options may be attractive to a different group of recipients. That is why it is worth pre-thinking what possibilities we have and what is profitable for us. So credit and loan – what connects them and what divides them?

## Basic differences between a loan and a loan

The biggest difference between a loan and a loan lies in legal regulations. In fact, they result in what the other differences are. The loan is only granted to the bank and is always granted in accordance with the Banking Law and the Consumer Credit Act, the Civil Code. In all these documents there are many restrictive provisions that clearly specify all the grounds. Loans can be granted by non-bank financial institutions and even individuals. The rules related to their granting and repayment are only regulated by the Consumer Credit Act and the Civil Code.

What is the difference between a loan and a loan in connection with the above-mentioned regulations? Banks must follow certain procedures. Before we get a loan, we must complete many formalities, filling out the application is just the beginning. In addition, the bank may ask for a statement of earnings, check our creditworthiness, verify that our name does not appear in the debtors’ databases. It always goes on. In the case of a loan, the lender does not have to stick to the type of formalities, which means that we can get a loan much easier. Often, even in such situations, when the bank gives a negative decision, non-bank financial institutions will be able to help. Even the unemployed can apply for a loan!

Interest and costs are another issue. Again, banks have slightly tied hands and cannot encourage customers, for example, at zero costs. The loan agreement is always payable. The difference between a loan and a loan is that non-bank financial companies can offer more and more interesting loan offers, including free ones. If we think carefully about everything, it may turn out that we will not incur any additional costs for the loan.

When going to the bank, we must specify the purpose for which we need money. In the case of loans, this is not obligatory. The loan repayment is always in installments. However, when it comes to the loan, the lot depends on the amount and the contract you sign. Payday loans are usually repaid once and the deadline is usually several dozen days. However, sometimes the amounts are high and the conditions may include installment payments.

## What connects loan and credit?

As you can see, both financial products share a lot, but there are also some common elements. Loan and credit – how similar are they? First and foremost, in both cases, there is a commitment that we have to settle. In addition, in both cases we can, but we don’t have to, sign a written contract (with a loan of up to USD 1,000 it can be oral), and spread the commitment into installments. Both products may be payable, because the loan is free only for new customers of loan companies who have the first commitment in this institution.

## What to choose?

There is no definite answer to this question. We need to think about what the possibilities are and what exactly interests us. If we care about high amounts that will be spread over a long time, and we have a stable professional situation and we do not have overdue obligations, it is worth considering a bank loan. If you have doubts about your ability or presence of a name in BIK, you have to reckon with a negative decision. However, you may consider visiting or contacting via the website with the loan company. But you do not have to treat it as a last resort – there is no shortage of situations in which a loan pays off more than a loan.

When we care about time, reducing formalities, and thus also shortening the entire procedure, then a loan will be a good idea. In the case of the bank, we wait at least a few days to process the application, while the loan means money even on the same day. A loan will be a good proposition for us if we need money for a short time and the amount is small, for example several hundred dollars or several thousand. Then we can also take a payday loan, which will be free. In this situation, it is the most cost-effective option. In this way, we do not have to bear interest costs.