The need for debt relief – Debt Consolidation

There is also the question of the loan period. Of course, if you opt for a shorter loan period, you will pay a higher monthly installment, but it will save you money in the long run. For the 30th year term of the longest maximum loan, the monthly amortization will be lower, but you will pay much more in the long run.


Repayment of time loans will help you maintain a good credit history

loan repayment

If you don’t, debt consolidation is what you need. The amount of interest accumulates and secured debt consolidation loan will help you by providing another loan to repay the old one. Secured debt consolidation loan helps you from foreclosure of your property.

The loan amount you can borrow through these loans depends on the price of the car. The interest rate of the secured loan is less than unsecured loans. The loan term depends on the type of loan. For secured loan, the loan term is longer, which can be more than 6 years. You must repay the short term loan for unsecured loans. The short term varies from 5-6 years. The interest rate is high for the unsecured and short term loan. The reason for this is that the lender gets less time to earn profit from the borrower. You can get lowered long term interest rate and secured loan.

No borrower wants to take out a loan which carries a high interest rate. The lenders also understand that the need for cheap loans is greater than ever. A cheap loan is in itself a sufficient reason for borrowers to borrow and meet their personal needs. You can use low cost loan for a variety of reasons, such as buying a car, home, on vacation, wedding, education and so on.
Low deposit. These home loans are also a good option for early home buyers. They target buyers who have strong income but not much savings on a deposit. With a low down payment loan the deposit can be 5% lower than the home purchase price.


The second strategy is to buy your rate

The second strategy is to buy your rate

This is done by offering to pay points on the loan. One point equals one percent of the total loan value. If you are looking for an auto loan for $ 25,000, a point would be 0. If you offer to pay the points up front for the lender, the interest rate will drop.

The thing about finding cheaper loans is – understanding the concept of cheaper loans. Low cost loans are available in any of the banks, credit unions and lenders. Online loan is a huge market if the size of the options makes detecting the cheapest loans feasible.

Unsecured Online Cooperative Loans vs Unsecured Online Loans, Choose?

The online cooperative is currently in talks. In fact, what is the difference between online cooperatives and online loans in general? Check out the complete difference here!

Applying for a loan in a time of need is inevitable because the risks of life are unpredictable. There are so many lenders we can choose from. But among those many, there are two that are currently the subject of public discussion, namely unsecured online cooperatives and certainly unsecured online loans.

There are two similarities between the lack of collateral or asset guarantees you need to provide and the way in which they use online methods to make them more sophisticated and easy to use. Unsecured online loans are usually managed by fintech companies. You can submit it through the official website or download the app on the PlayStore or AppStore. While these online cooperative applications are not guaranteed, they can only be submitted through the official website.

Early Settlement Fee


Unsecured online cooperative loans are in fact not much different from cooperatives in general as they are managed by organizations or groups of people for the benefit of their members. The basic principle of unsecured online cooperatives is the family economy.

Although they do not require collateral and can be filed separately, they are still different financial products so they must have a plus. In order for you to decide which one is better and more profitable for you, it’s a good idea to have plus-minus from both.

Plus Minimum Online Cooperative Loan Without Securities

Plus Minimum Online Cooperative Loan Without Securities

  • The process is simple and fast

Unsecured online cooperative loans are very easy to apply because these types of loans are managed by institutions, associations, or organizations so there is no bureaucratic complexity. In addition, the dilution process is also very fast. If you meet the requirements, the loan amount can be in your hands in just one day.

  • Must be a Cooperative Member

Since the main purpose of a cooperative is to enrich its members, then it is guaranteed that this online cooperative loan is only for its members. To apply for a cooperative online loan without a guarantee you must be a member for at least 1 year.

But there are some cooperatives that lend to non-members as well. Of course, to obtain the loan, you will be asked for additional document requirements.

Unlike banks that set interest rates on the market so the range is always uncertain every month, these unsecured online cooperative loans have a fixed interest rate as well as a fixed interest rate using the flat rate calculation system. The interest provided by online cooperatives can be light because the interest rate has been determined by the results of all members’ agreement.

Suppose from consensus, interest rates on online cooperative loans are 3% per annum, whereas when you apply for a loan of $ 10 million over a ten year period (24 months), interest rates will remain the same for the first and second years because the system uses interest calculations. fixed ( flat-rate ), not floating rate.

  • Limited Loan Plans

Unfortunately, the lending platform provided by these online cooperatives is limited. In contrast to loans from banks that can reach hundreds of millions. This is because the source of unsecured online cooperative loan funds comes from the members’ dues. In addition to the members’ dues, the funds also come from interest and the result of joint activities.

  • The Terms Provided are quite complicated

Although the process is easy to do and the cash flow is fast, the terms provided are quite complex compared to online unsecured loans. Typically the terms provided are photocopies of IDs, IDs (Taxpayer Identification Number), payslip or proof of income, Family Card (KK), and electricity or PDAM accounts.

If you want to apply for a cooperative online loan without any guarantee of venture capital, then you need to provide additional terms for a business proposal that can convince the co-manager. So don’t even make the proposal yes Dude!

E-Money Plus Online Loan Without Secure

E-Money Plus Online Loan Without Secure

  • Fast and Easy Process

The process of unsecured online cooperative lending is fast, but unsecured online lending is also very fast. Especially if you file it through a secure and trusted Oliver Twist because it is registered with the OJK (Financial Services Authority) and is under government supervision. If the requirements are met and the documents provided are complete, the filing and disbursement process takes only 1-3 business days.

  • Larger Loans Nominated

For a loan planner provided by an unsecured online loan it is not as high as a bank without credit. But compared to unsecured online cooperative loans, it’s definitely a bigger number. An unsecured online loan can offer up to $ 20 million in loan terms with a tenor of up to 160 days.

The disadvantage of unsecured online loans is that interest rates are on average much higher than interest rates on unsecured online cooperative loans. These high-quality flowers are actually comparable to requirements that are easy to fill, easy to apply, and even a plush floor.

  • Possible Reject

Please note that not all online loan applications can be accepted or approved. This can be due to many factors. Starting from the huge queue of incoming loans, incomplete or unreadable documents, and more. Therefore, if you have a refusal to apply for an unsecured online loan, you should not be discouraged because you can try again.

Credit from private provider

The loan from the private provider – the modern way to show the banks a long nose. Who offers the personal loan, what are the requirements and how good are the chances of approval? The article offers a small guide with information “all about personal loans”.

Loan from a private provider – who offers it?

Loan from a private provider - who offers it?

The loan from the private provider is now offered by a whole range of different portals. The business idea on which the portals are based is always the same. Investors and borrowers are brought together via the platform. Both sides have significant benefits from the collaboration.

An investor receives fair interest on his capital. He can thus avoid the zero interest rate policy on the savings book and maintain the purchasing power of his money. Due to various protection mechanisms of the platforms and the high level of capital splitting, his investment capital is very securely invested.

His opponent, the borrower, is mostly in a difficult financing situation. Some applicants are completely denied a bank loan, others are supposed to shoulder excessive credit costs. There are many reasons to be completely innocent without credit.

The tightening of credit guidelines, an impact of the dollar crisis, can force even loyal repayers to become creditless. The impact of the highly acclaimed Agenda 2010 is another reason for the credit crunch of many. You now have a job, but that doesn’t mean you have a secure employment contract or adequate income.

The catalog of requirements for borrowers

The catalog of requirements for borrowers

In principle, the portals only make a single request to the borrower for his or her loan attempt. Anyone who wants to find credit on one of the relevant platforms must first pay. However, the publication fee is moderate. The experiment costs around 10 dollars. For this purpose, the loan request is made available to private donors for a limited time. The applicant must also invest some time and effort.

The loan request is not only shown in numbers. The loan request should be clearly justified on the basis of a credit description to be filled in by the borrower. It also improves the chances of success if typing and grammatical errors are avoided. The loan from the private provider is in many ways a trust loan. A correctly formulated credit request ensures a good first impression and an advance in trust.

Opportunities for approval for a personal loan

Opportunities for approval for a personal loan

First of all, every private investor is completely free to decide who to entrust his money to. For small credit requests, investors usually pay attention to the honestly formulated loan request. A single Hartz 4 recipient has no chances to finance the children’s bike for the offspring without a Credit Bureau or proof of income.

Larger loan amounts can of course also be approved as a loan by the private provider. Even entire houses were refinanced via the platforms within a few days. The prerequisites for this are of course much higher. Only an impeccable Credit Bureau, good scoring and an impeccable reputation make such financing possible.

All about consumer credit: Insurance and credit repurchase

Loan insurance allows people wishing to take out a loan to be able to protect themselves against an inability to repay, for example the loss of a job or in the worst case a death. Loan insurance protects both the borrower and the credit institution against unforeseen repayment such as the risk of disability , incapacity or even the risk of death .

To support families in their vacation plans, the purchase of household appliances or the purchase of a car, the banks offer consumer credit. It is a type of loan that allows you to speed up the purchasing process without the need for significant savings. Back on the details of this transaction.


The choices available

consumer credit

People who use consumer credit (consumer credit comparison) can choose from three very distinct categories:

  • The credit allocated to the purchase of movable property or a specific installation essential for the comfort of life of the applicants. Unlike unallocated credit or personal credit, this requires the attestation of the purchase of a product (4.5 to 9% of TEG for car credit (car loan comparator), motorcycle credit, leisure credit) or a well-defined service (works credit up to 75,000 dollars in funding).
  • Personal credit or personal loan (compare personal loan) looks like assigned credit, but in this case there is no obligation to provide proof of purchase.
  • The revolving credit is a loan dedicated to financing the current expenses of a family. It is governed by regulations which oblige the bank and the borrower to provide a monthly statement of all the sums due or an annual TEG (overall effective rate) of credit. Even if it is flexible, this type of loan must be repaid on time to avoid possible late payment.


33% debt ratio

debt loans

This term evokes the borrowing capacity established on the basis of a calculation of agent inflows and outflows. Expressed as a percentage, the monthly repayment rate must always be in the thirds of income.


Insurance and other credit repurchases

credit debt

In view of the risks of unemployment, invalidity and death, lending organizations often offer consumer credit insurance while the AREAS agreement is the only way for sick people to access the loan without going through the health questionnaire. Finally, the credit buyout solutions are there to avoid over-indebtedness via a grouping of credits and reimbursement at a better rate.

Credit for Hartz 4 recipients and unemployed

Unemployment and the Hartz 4 reception are not synonymous, even if the public discussion does not always notice the difference. In fact, in spite of an existing employment contract and a low payment, top-ups receive Hartz 4 as a wage supplement, while in the first year of unemployment after a well-paid job, unemployment benefit I is sufficient as a livelihood. Both recipients of unemployment benefit I and Hartz 4 can only borrow under difficult conditions.

Why it is difficult to lend in the event of unemployment or Hartz 4 purchase

Why it is difficult to lend in the event of unemployment or Hartz 4 purchase

Only a few banks grant a loan to Hartz 4 recipients and the unemployed. The understandable reason is that the Hartz 4 benefits are barely sufficient for a living. Since unemployment benefit I has been drawn for a maximum of twelve months, most credit institutions only grant loans to recipients until the entitlement expires. In most cases, however, a loan can be taken out for Hartz 4 recipients and the unemployed if the applicant can provide a surety.

However, the bank must make higher demands on the guarantor’s assets than on a direct borrower so that the guarantee does not become ineffective. The assets required relate to sufficient income or savings as well as sufficient economic knowledge to be able to assess the consequences of a guarantee.

Alternative lending options

Alternative lending options

Relatives or friends can grant a loan to Hartz 4 recipients and the unemployed without the amount of money being counted as income of the recipient. The prerequisite is that the repayment of the loan is expressly agreed; in other cases, case managers are happy to accept a disguised gift. The repayment of the loan may take significantly longer than with normal bank loans, and the related or friend lender does not have to demand interest from the unemployed or Hartz 4 recipient.

The installment payment agreement with a mail order company is generally accessible as a credit linked to a specific purchase for Hartz 4 recipients and the unemployed, since many retailers do not request income or employment from existing customers or with low invoice amounts. That is why the Hartz 4 recipient or unemployed purchaser is responsible for only making the financial commitments.

If the planned order involves the purchase of urgently needed items, the job center offers itself directly as a point of contact for a required credit for Hartz 4 recipients and unemployed. In this case, anyone who receives Hartz 4 benefits is entitled to interest-free loan payments via their case manager. This agrees with the Hartz 4 recipient in which small installments the loan will be offset against the following benefits.

5 Questions You Need To Ask Yourself Before Applying For A Loan

If you are considering applying for a loan, there is nothing to be ashamed of. In fact, from car loans, credit cards, mortgages and student loans, almost all have debt or some form of credit.

So, if you are thinking about applying for a loan, it is important that you make informed decisions.

First, make sure you apply for a loan for the right reason. Secondly, it is important that you explore your options, and that you know what to look for when applying for a loan.

Before you apply for a loan, there are five questions you should always ask yourself:


1. How much do I need to borrow?

credit loans

Before applying for any loan, ask yourself how much you really need to borrow. If the purpose of the loan is to afford to buy something, is it possible, for example, that you save half the amount together and apply for a loan that covers the other half and thereby reduce the amount you need to borrow?

You may need a loan for more time-sensitive reasons and it is therefore not an option to save money in advance.

Regardless, always review your budget and make any necessary adjustments. Once you have an updated budget, you will be able to see how much money you have available to earmark for loan repayments.


2. Is my income sufficient to repay the loan and interest?

loan repayment

The first thing you need to be aware of when applying for a loan is that the minimum amount to pay per month is not just a down payment on your loan capital. This is because there is interest on your loan, and depending on the loan, the interest is added daily, weekly or monthly.

With your revised budget, make sure your monthly income is sufficient to repay at least the minimum monthly amount, as well as the interest accrued during the period.

To explore the total cost of a loan, including interest and monthly payments, please see here.

If, after spending your budget, you realize that it will be difficult to make payments, it is not recommended to take out a loan.


3. How long do I have to repay the loan?

loan payment

The loan period, or the time when you have to repay your loan, varies depending on the type of loan you are applying for and the amount you want to borrow. From weeks to months – choosing the loan amount, what the loan period is and what interest rate is the most important things to keep track of.

One thing that is good to look for is the opportunity to repay a loan earlier. Serratum, for example, offers its customers the opportunity to repay their loans in advance without any fee linked to early redemption. With this option, customers can make repayments based on their own budget, which makes the loan repayment more flexible and comfortable.

Make sure that whatever financial institution you choose gives you the opportunity to repay early without any additional fees.


4. How do I manage my other debts?

4. How do I manage my other debts?

If you already have other debts such as credit cards or other loans, it may not be a good idea to take more loans as it will result in you being more indebted.

Before applying for a short-term loan, make sure that you are able to conveniently make credit card payments or any other loans. Does your budget allow one to repay?


5. Have I chosen the best institution for the loan I want?

5. Have I chosen the best institution for the loan I want?

There are plenty of financial institutions in the market that offer alternatives to short-term loans, including banks. In addition to the fees and terms available, it is also important that you feel comfortable with the financial institution you choose.

Make sure all fees are clear, the company is credible and reliable. Read reviews online from other users on a website like Trust Pilot to see which companies have a good reputation.

The process of finding the right credit institution will make you feel confident that your choice is the right one.

At Serratum, we believe in doing things a little differently. As an international pioneer in financial technology and mobile lending, we have expanded our operations to 24 countries since 2005.

When you apply for one of Serratum’s consumer credits, you can be sure that you are in good hands. We believe in complete transparency. No hidden fees.

Calculate business credit? Calculate the interest and term online!

Anyone taking out a business loan must be aware of the costs involved. A business credit has other costs, besides the amount to be repaid.

For example, a (fixed) interest often applies. This interest only applies to the drawn part. This often concerns a percentage between 5 and 9 percent. The amount of this percentage depends on the creditworthiness profile of the entrepreneur.

It is possible that repayments cannot be penalty-free. It is a wise decision to investigate this. Certain lenders allow additional repayments free of charge, while others charge a fee.

Calculate the options per financing form

Calculate the options per financing form

It is not necessary to provide annual figures for a business loan. This is in contrast to applying for a business loan. In a business loan, the lender often asks for these numbers to assess creditworthiness. It often also applies to a loan that the entrepreneur must have been active for a minimum number of years.

This is not necessary with a credit. As a result, a business credit is also suitable for starting entrepreneurs. There are numerous providers who want to offer credit, without the need for annual figures. With this credit, start-ups can start their business.

Every form of financing, be it a business loan or a business credit, involves certain risks. It is a good idea to weigh these risks against each other. Borrowing money costs money, even with credit.

All requirements can be found on the ‘Apply for and take out business credit’ page.

Calculate monthly business credit

Calculate monthly business credit

Calculating the monthly costs for business credit can be done quickly and easily with a credit calculator. The calculation can also be done manually.

First of all, the amount to be borrowed must be determined. In an example we use the amount of 125,000 dollars. For example, the term is 9 months. The interest has been set at 6,975 dollars (5.58 percent). This brings the total amount to 131,975 dollars. We divide this by the term of 9 months. The monthly payment is then 14,664 dollars.

The interest is spread over several periods. As the term progresses, the interest rate decreases. The repayment per month can vary. A refunded amount may also be withdrawn.

Frequently asked questions about calculating a credit


What does revolving credit mean?

A revolving credit is intended to create some extra financial space for a longer period. This period has not been determined. It is a loan in which the entrepreneur sets a limit himself. The borrowing party thus determines when part of the amount is withdrawn.

Is the interest the same every month?

With a business loan, the interest is the same every month. This is not the case with business credit. The interest on a business credit is variable and can therefore rise or fall.

For whom is a business credit suitable?

A business credit is suitable for entrepreneurs who want to make a longer term investment in their company. Consider, for example, maintaining a computer network or maintaining machines. It is almost always about matters that last longer than once.

Who can apply for a business credit?

Any entrepreneur with a sole proprietorship, general partnership or private company can apply for a business loan. The lender does test the creditworthiness of the borrowing party.

Is the credit reported to BKR?

Credits are registered with the Credit Registration Office (BKR) in Tiel. This is a rule for all loans, including credits. The agency then has an overview of all loans that have been taken out. Payment arrears are also reported here. The only exception to the rule is registering a BV. Private companies cannot be registered with the BKR.

How much is the interest for my company?

The interest rate depends on the creditworthiness of the entrepreneur. The desired term of the loan also has an influence. More information on the exact interest, costs and criteria can be found on the lender’s website and on this website.

Take out a loan anywhere in 24 hours


When decisions have to be made in life, it very often happens that there is not much time left for decision making. Because in many cases you have to react quickly to achieve an optimal result. This also applies when taking out a loan. Once the decision has been made to put it into practice, please do it quickly and aim for a loan in 24 hours.

There are many different variations and in quite a few places. However, as a borrower, you also have to do a lot to ensure that the advised bank can provide the loan for you in such a short time. We have put together here what you can and must do and where you can take out a loan anywhere in 24 hours.

Where can I get the loan in 24 hours?

Where can I get the loan in 24 hours?

Before you adjust your conditions for quick borrowing, you should first look at where you can get a loan quite quickly. To do this, it is important that you ask yourself what the loan should be used for. If you have no fixed purpose, you will most likely opt for a simple installment loan. You can record this at all banking houses. No matter whether in a branch office or at the direct banks via the Internet.

We recommend the Internet in this regard, since you have a much larger selection of offers here, which you can easily probe using a loan comparison and adapt to your wishes. Of course, you can also personally speak to your local bank or another local bank and develop a loan together with a consultant. However, keep in mind that you have to stick to the opening times and sometimes even need an appointment. The provision within 24 hours can therefore sometimes not be granted.

However, if you associate a fixed project with your borrowing, such as the purchase of a television set, it may make sense to decide on a consumer loan. This is earmarked and can be included in exactly the amount you need. The advantage here is that you can get the consumer credit directly from many retailers. So you don’t have to go to a bank and ask for a loan there. The dealer usually has an offer, which he will also check for you immediately after your purchase decision. If you have all the prerequisites for borrowing, you will know within a few minutes whether you can use the consumer loan. A loan in 24 hours is therefore easily possible in this way.

The overdraft facility presents itself very quickly, but also very expensive. The overdraft facility, as it is often called, depends on your checking account and is a call credit. He only incurs fees and interest if you use all or part of the loan. Since you do not have to apply for the loan first, but it already exists, you can access it immediately. However, you should keep in mind that your bank can pay for this small service very well. An interest rate of well over 10 percent is not uncommon. You should therefore only use the overdraft facility if you want it to go particularly quickly and if you only need a loan amount that you can repay quickly. Otherwise you will be unnecessarily annoyed by the high costs and will not enjoy your purchase.

What can you do for quick borrowing?

What can you do for quick borrowing?

Since you are looking for a loan in 24 hours, it is important that you also influence the bank’s credit decision. You can do this, among other things, if you do not select an excessively large loan amount that has to be repaid to the bank over a very long period of time. The higher the loan amount and the longer the term, the more intensively banks look for a default risk. This means that your information on income, your Credit Bureau and also the collateral that you may have to provide in addition to the loan are checked particularly carefully. Often, the loan decision-maker also seeks advice from a colleague, which delays approval and does not allow for quick admission.

So show yourself modest in your loan amount and keep it in the area of ​​a small loan. Then taking out the loan in 24 hours is entirely possible.

Another sticking point in borrowing is always your credit rating. You can only get a loan if it is good to very good. A good credit rating includes a clean Credit Bureau, a fixed income and expenses that are not higher than the income. You must be able to document all of this with the help of supporting documents. So prepare for the borrowing and look for work certificates, income certificates, bank statements and your identity card in advance so that the bank does not have to request the documents individually, which would take a lot of time and put the credit at risk in 24 hours.