Why use a personal credit simulator?

Do you need money? Are you thinking of renewing your old car and getting a safer and more sustainable one? Did you come with an economic unforeseen that you didn’t have and caught you with the trembling primer? Have those deserved holidays finally arrived and you don’t have enough savings to enjoy them as you would like? Futher reading at http://www.materialtesting-bureauveritas.de/2019/07/25/legitimate-payday-loan-consolidation-companies/

We know that perfection does not exist, but if there were a loan that approached it, it would be one in which we can have the money as soon as possible and offers us the possibility of repaying it comfortably over time without fees or abusive commissions.

In case you are thinking of applying for a personal loan to deal with this small economic accident, a loan simulator can be a great ally to analyze which entity offers you the conditions that best suit your situation and specific needs. Personal loan simulators are online calculators that help to know what type of credit and which bank best suits the financial situation we need to solve.

Why use a personal credit simulator?


This loan simulator allows us to obtain an estimated calculation of the installments to be paid, the interest rate and the time that a personal loan should be paid based on the amount we request and, in some cases, our financial situation in the time of the request.

Each entity usually has its own online loan simulator. There are some who, before being able to perform the calculations, ask you a series of questions such as if you are already a customer, the number of account holders, the financial data or if you have already contracted any other banking product with the company.

This may favor obtaining personal credit under more advantageous conditions. Specifically, the Bank of Spain, which is the supervisory body of the Spanish banking system together with the European Central Bank, provides a feed simulator to pay on a loan that allows you to calculate the initial amount with a specific interest rate and term.

As we saw in previous lines, the personal credit simulator allows us to know the deadlines, maturities and monthly installments that best fit our economic possibilities. Although, since it is an approximate calculation, they cannot take into account all the factors that influence, for example, in the granting of a variable loan, just by entering the amount and the terms in which you want to repay the debt, you can already make yourself An idea of ​​the type of loan and its interests.

This information is essential to analyze our financial situation and check if we can really face the monthly payment of the installments of a personal loan, based on our income, expenses and borrowing capacity.

How is a loan fee calculated with a simulator?

How is a loan fee calculated with a simulator?

Simulators to calculate the loan installment are usually very intuitive. Normally, the tool itself usually enters directly the interest rate with which the entity operates, so you will only have to enter the website, go to the loan fee simulator and enter the following data:

  • The amount you wish to request.
  • The applicable interest rate if you know it (normally the calculator itself usually automatically enters this data).
  • The installments in which you want to repay the loan.

With these simple steps, the vast majority of loan simulators can already estimate your credit, informing you of the most advantageous offer for the amount of money you want to request and the terms in which you would feel more comfortable returning it.

Traditional banking entities usually also request other information such as if you are already a client of the entity, the number of account holders or accounts, the existence of payroll or guarantees or if you have already contracted any other financial product.

The purpose of this consultation is to refine your offer to offer you the conditions that are most profitable and attractive to you. However, if you do not meet any of these premises, the bank may decide directly not to grant you the loan, since its conditions are generally stricter than those of fintech companies.

How to use a Good Credit simulator?


In Good Credit, we look for ways to make it as easy as possible when it comes to getting the money you need. For this reason, we have designed an agile, fast and intuitive loan simulator.

You just have to enter our website and enter in the personal credit simulator the amount you want to order and the period in which you want to return it: our calculation tool, equipped with the most advanced technologies, will show you the approximate figure that will allow you get to the idea of ​​the economic effort necessary to return the credit.

The credit simulator that we offer you in Good Credit calculates the fee that you will have to pay approximately, according to the requested figure and the term in which you want to return the money to us. However, to know what the final monthly payment is, you must send us the following documentation:

  • Valid ID or passport that certifies your residence in Spain.
  • A self that proves who you are.
  • A bank account number in Spain so that we transfer the amount of your credit.
  • A contact mobile phone number to contact you and let you know the status of your request.

In addition to this, it is necessary that you meet a series of requirements. First, you must be of legal age. Secondly, it is essential that you have a demonstrable source of periodic income (payroll or pension, benefit, regular income as a freelancer). Finally, they should not have included you in a delinquency list such as Credit Checker.

This will allow us to know your financial situation at the time of the request and, in this way, we can adjust the conditions of the loan to your personal circumstances.

Loan from abroad


Credit problems due to a negative credit check with a pending entry can be solved. people can apply for credit from abroad at an approved credit institution without involving credit check.

We want you to get your foreign loan and not end up in the clutches of a dubious credit broker. We therefore provide you with all the information you need to apply for a loan.

Credit from abroad – who can grant it?

Credit from abroad - who can grant it?

People who want to apply for their loan from abroad cannot do so at any credit institution “without credit check”. Without credit check, a foreign credit institution may only grant foreign credit to people if it has no branch or representation in the country.

As far as is known, only one bank currently fulfills all the requirements for credit check-free lending to the country. Anyone who now thinks about the “ loan” and connects it to the country of origin will be disappointed.

The bank must therefore involve credit check in every credit procedure. Credit from abroad, as most people hope for, is offered by lending company. The credit check-free loan can be applied for via an intermediary or directly. We recommend – despite bad press – the way through a credit broker.

Without credit check from abroad – the real offer

Without credit check from abroad - the real offer

Loan advertising from intermediaries must attract attention, otherwise it won’t pull. credit check-free financing often serves as a figurehead for all kinds of business models. When it comes to advertising, the aim of which is not necessarily to provide credit, there are hardly any limits to superlatives. Agents who prefer to sell insurance or an investment are happy to exaggerate the structure of the credit check-free loan.

It doesn’t matter that they ultimately cannot deliver what the advertising promises or at least suggests. The real promise of a loan from abroad without credit check is only – to carry out a credit check without credit check. In addition, properly serviced loans are not reported to credit check.

The loan amount can be USD 3,500 or USD 5,000. A repayment in 40 equal monthly installments applies to both loan variants.

The bank promises no more and no less. There is no word in the loan terms of credit without creditworthiness, a housewife’s credit without income or a quick loan. Credit from abroad can be granted to people if they can demonstrate the necessary creditworthiness to grant credit. If you can’t do that, you are welcome to buy heaps of insurance, but you still won’t get a foreign loan.

Credit Requirements – Prove creditworthiness for lending

Credit Requirements - Prove creditworthiness for lending

A credit check-free foreign loan is a loan without a guarantor. The first and fundamental prerequisite for lending is an income subject to social security contributions. The net income must show an attachable income component. In addition, the permanent, unconditional employment contract must have existed for at least 12 months (3,500 dollars credit) or 36 months (5,000 dollars credit).

Credit intermediaries – why is it worth it?

Credit intermediaries - why is it worth it?

Credit from abroad is not entirely free of charge. Payment is made for certification and submission of applications using the post-ID procedure. Post-ID costs 9.18 dollars. 10-20 dollars must be paid for the certification of the assignment. Having the credit opportunities pre-checked before applying makes no cost to reputable brokers.

The preliminary check can prevent a hopeless credit attempt from being made. If a loan agreement is concluded, the bank pays the intermediary. His commission goes into the cost of the loan. Without an intermediary, the applicant saves no cent, only the bank saves costs.

For applicants qualified for lending, the very expensive foreign loan may even be avoidable by an intermediary. Domestic loans are often cheaper in spite of credit check.In addition, financing despite credit check is not only tied to two loan amounts and a fixed term, but much more flexible.

Loans without paychecks and loans without paychecks

Loan and financing without paycheck 

Loan and financing without paycheck 

That of financing without a paycheck is a very delicate topic and as such must be approached with seriousness and frankness, recognizing that much has been written, see e.g. personal loans without a paycheck and much more will be written. And we will do our part. Then, the wording of financing without paycheck includes a series of hypotheses that can be divided into categories of credit membership payable. While, from the point of view of the applicants, the hypotheses are reduced to two: one first, are the loans without paycheck and without guarantor or guarantees where the “without” is to be understood as the total absence of work and slavish remuneration as well as for guarantees and guarantees the lack of goods and / or a third party who intervenes.

The second, is always and formally without a paycheck, but this status is limited either because you have goods or from the lack of paper that documents of the revenue, but these are there despite being submerged, such as. illegal work or an unregistered rental fee etc. In all the above cases we see to what extent and under what conditions the system grants them normal or small loans without online paychecks .

Intended as any type of credit grant

Intended as any type of credit grant

Financing without or without or without a paycheck is intended as any type of credit grant: therefore, we will have both personal loans without a paycheck and those for the purpose of purchasing goods or services (consumption). Furthermore, among loans without paychecks we must further distinguish common financial loans from small loans with or without paychecks implemented through revolving cards which offer figures starting from 500-600 and up to a thousand euros. However they are divided, we return to the aforementioned double hypothesis: we start with the first, that is, loans without a paycheck and guarantor .

It is very difficult to grant normal loans to this category because both the lack of income, deriving from being out of work, which without real and personal guarantees preclude entry to the overwhelming majority of loans, but not to all they. Let’s see why.

The only forms of loans without paychecks for those who do not have goods or work gravitate in the targeted credit sector: first of all, the take-over of an already financed asset, e.g. a car. This is possible because in Italy nobody can forbid a person, even informally, to take on someone else’s debt. However, the takeover without a formal income is always cumalative, that is, if the person who took on the loan does not pay, the original debtor replies. Another form of loan no paycheck is found in small consumer financing: there are many companies that, in order to sell, give the opportunity to buy without presenting a paycheck or other form of remuneration.

This system is mainly used for the trade via teleshopping of items of furniture and household items, so much so that that loan called loans for housewives without paychecks was born where these categories of loans without payroll online are intended. The same considerations apply to those loans belonging to the categories of loans to protestors and bad payers without paychecks and the like.

Online loans without paychecks

Online loans without paychecks

Things are easier for online loans without paychecks which, however, can demonstrate a job and therefore income, or for those who own goods or finally for those who have the possibility of being guaranteed by another. In the latter case there is little to say: the guarantee of others equates the personal loan without a paycheck to any loan. While goods can give rise to the following cases: a movable property can be pledged and obtain financing on the basis of its value; a property can give rise to loans exchanged without a paycheck which, in the presence of a mortgage on the property, replace the policy or severance pay Other form of credit without a paycheck is the one reserved for those with a certain status e.g. the one reserved for students etc.

Finally, a last form of online loans without a paycheck is that which has constant, periodic and demonstrable income for a few years through a checking account. In this case there is no formal certification of the income but we know of some cases in which if you are an old customer of the institution, this will grant the right proof funding given by the constant periodically accredited financial flows. To conclude, we can establish that what we have written on this page is all that a person without a regular paycheck or salary can have or obtain. Other than the described hypotheses, other forms of financing are not provided without the regular coupon.


Loans for non-EU foreigners and loans for immigrant foreigners

The essential requirement for loans

The essential requirement for loans

We deal with the topic of various loans and loans to be granted to foreigners otherwise identified also as non-EU citizens and/ or immigrants and in any case to all those subjects who, for any reason, do not have Italian citizenship. The issue is even more delicate since the peoples of North Africa and some countries in the Middle East ask for more democracy and the entry into our country has increased, especially those coming from Libya but originating in countries such as Syria Tunisia Egypt central Africa etc. and which land in Italy. So, what does a loan mean for immigrant foreigners? What are the conditions or the basic requirement for credit to be granted in the form of financing to immigrant or non-EU foreign citizens?

Let’s proceed with order. In the first place, the status of foreigners and immigrants is very broad and in a very foreign sense it is the one who is not Italian or, to put it better, does not have Italian citizenship. This is obvious. While the meaning of non-EU citizen is intrinsic to the term itself: it is a subject that is outside the European community. Formally, the number of non-EU citizens also includes citizens of rich countries such as the USA, Japan, Australia etc. However, in financial and banking practice, the granting of a loan or loan to foreign immigrants from outside the EU is identified with those citizens who come from poor and/ or developing countries who come to Italy to have a better life: e.g. this is the case of Romanians or Romanians. We will therefore refer to these subjects when, below, we will tell about the requirements for loans to and for non-EU foreigners online.

Problems or conditions and/ or requirements

Problems or conditions and/ or requirements

We advise that the problems or conditions and/ or requirements as well as the documents needed by foreign immigrants from outside the EU are the same as those required by those who have Italian citizenship. But there is a substantial basic requirement that the immigrant foreigner must necessarily possess in order to access any form of credit or official financing: the residence card or the EC residence permit (see residence permit).

This/ or is a particular administrative act or authorization that authorizes a non-EU citizen, even a stateless person, to legitimately stay in our territory. In the absence or without the residence permit it is in all respects an illegal immigrant and as such, as long as the Bossi Fini law does not change, it is illegal and liable to criminal conviction. The consequence of all this is the absolute denial of loans and financing by official financial channels. The only possibility of even small loans in favor of non-EU foreigners without a residence permit is to find private lenders or get in good standing.

The presence of the residence permit

The presence of the residence permit

In the latter case, the presence of the residence permit will equate the foreigner to the Italian in all respects. Therefore, only in the presence of a residence permit are banks or financial institutions authorized to provide loans for non-EU foreigners according to normal credit rules, that is: the documents beyond the permit are the passport or equivalent document, the tax code and the tax return. The latter documentation is not necessary if the foreigner has a guarantee and/ or a third party guarantor that guarantees for him and in this case we can define them as real loans for foreigners without paychecks or without income .

But in normal cases it is now possible to advance a personal loan or, for those who have an employer, also a transfer of the fifth as well as other forms of financing already provided for those who have our citizenship. Ultimately, all the legislation that revolves around financing for foreigners rests on the issue of the card or residence permit without which no bank will grant the loan to the illegal immigrant. Finally, the Italian cities to which the greatest requests for loans for foreigners come with and without a paycheck are Rome and Naples.


Credit for trainees

Trainees in particular often need start-up capital, since in most cases they want to finance their livelihood, their own apartment or a car from the start of their working life. But banks are usually very reluctant to lend to apprentices. But it is not hopeless, because a loan for trainees is available under certain conditions.

Credit facilities

Credit facilities

The branch banks usually only approve a loan for trainees that serves a fixed purpose, such as for the purchase of a car or motorcycle. Here, the crediting bank requests the vehicle registration certificate as security. However, the loan amount is often limited to 4,000 dollars and is limited to the duration of the training period.

Online banks, on the other hand, create special offers for loans that have a free use. Small loans of up to 2,000 dollars are often possible without special collateral or guarantees. Proof of income and a training contract are sufficient for submission. Credit inquiries that go beyond the security-free amount mostly require a guarantor.

Another alternative is training credits. These are considered financial support for living expenses if no other social benefits or payments are expected from the parents. This form of credit is only for trainees, students or paid training courses.

State-sponsored educational loans offer a credit line of USD 7,200, while independent banks do not set a fixed amount. The advantage of a training loan is the low interest rate and the option to repay the installment only after completing the training. It is advisable to compare the individual offers here, since the interest rates and conditions vary considerably depending on the provider. Interest rates of three percent or more can be expected.

Solutions for higher loan amounts than trainees

Solutions for higher loan amounts than trainees

Anyone who wants to have their application approved as a trainee with a higher loan amount or longer terms that extend beyond the duration of the training should either have sufficient security or be able to provide a suitable guarantor. Like the borrower, the guarantor also has to undergo a credit check.

Branch banks always check credit for possible negative entries by both the loan applicant and the guarantor. If there are no concerns on the part of the banks, there is nothing standing in the way of a loan. However, it must be borne in mind that the guarantor is liable for the repayment of the loan with his entire assets if the trainee fails to meet the monthly repayments on time.

The trainees who already have a comprehensive employment contract have the advantage. If the trainee can prove to the lending institute that an employment relationship will continue after the training period and that future income is documented, the trainee has a good chance of getting a higher loan amount approved, which will be repaid over the duration of the training with longer terms.

Credit for trainees despite without credit registration

Credit for trainees despite without credit registration

In this case, too, the loan for trainees is quite possible. Providers advertise with small loans without credit query. There, the interest rates range from 4.9 percent and are thus much higher than the cheapest offer of regular loans or training loans. Here it is urgently advisable to compare the different providers. Otherwise, a loan for trainees with credit registration can also only be enforced by a solvent guarantor without credit registration.

What kind of loan is Peer-to-peer (P2P) loans



Peer-to-peer (P2P) loans are a globally recognized form of lending in which people borrow and crowdfund each other according to agreed terms. The investor is looking for borrowers to match his investment wish. If he finds what he is looking for, he makes a financing offer to our partner bank, Lite Lender, to buy a portion of the receivable from this loan. If sufficient financing offers come together, our partner bank grants the loan and sells the partial claims on to the participating investors. Only the financing offers of investors that are most favorable for the borrower are taken into account until the desired loan amount is reached. The higher the interest rate offered by the investor, the less likely it is to participate. The borrower always receives the most favorable terms for him. Borrowers and investors remain anonymous to each other, only the identity must be disclosed to the platform provider.

A peer-to-peer loan is the oldest form of loan in the world: people have always borrowed money from each other and agreed the terms of the loan itself. Nowadays, digitization has made it possible to create a marketplace online where people can borrow money quickly and easily while remaining anonymous. P2P loans are part of the modern sharing economy.

P2P lending is carried out via an online credit platform and thus offers a modern, flexible and transparent way of agreeing the loan terms. In practice, borrowing through a peer-to-peer loan platform is not very different from applying for credit from a bank. Similarly, the borrower completes a loan application and when the loan offer is received and accepted, the amount is paid into the borrower’s account. The borrower does not have to search through all loan offers separately, only the cheapest offer is shown, which can include dozens of lenders. Borrowers and lenders do not need to agree the loan terms separately, everything happens automatically in our online service. Astro Finance takes care of the entire credit-related administration between the parties involved.

A P2P loan is a simple alternative to a bank loan. Although the loan is financed by several investors, the loan amount is paid out in one amount by our partner bank of Lite Lender. Likewise, the monthly installments are repaid to a single account and only then categorized by Lite Lender to the investors involved.

P2P interest

P2P interest

P2P loans are an agreement between two people and we as a company do not state the interest rate. Instead, the interest rate is created through an auction where lenders compete to fund your loan. Only lenders who offer the cheapest interest rate are given the opportunity to fund your loan application. This enables the borrower to always be offered the cheapest financing option. After receiving the loan offer, the borrower can decide whether to accept or reject the offer. The better the borrower’s credit rating, the better offers the lender can get. It is therefore recommended that all information be filled in correctly so that lenders get a clear picture of your solvency. Due to the market-based interest rate, peer-to-peer loans have become an advantageous alternative on the credit market when comparing the interest rates of different lenders on unsecured personal loans.

credit terms

credit terms

  • Loans up to 10,000 USD
  • Interest from 3%
  • Monthly repayments from $ 25
  • Loan term 2-7 years
  • No collateral or guarantee required
  • Non-binding online loan agreement. Filling out takes only a few minutes

The loan term is 2-10 years. However, you can repay your loan at any time and at no additional cost. You can also request payment-free months and postpone the due date by two weeks.

Loans from person to person

P2P loans have increased significantly since crowdfunding is now a globally recognized and flexible form of financing. Today, fast-moving loans are often discussed, such as SMS loans. However, P2P loans are a real and safe alternative to bank loans. It is a cheaper and more flexible loan for borrowers compared to the instant loans mentioned above. Our online service works without hidden costs and enables the borrower to have a flexible loan term. Loans without collateral, quick and easy. Use the loan calculator and find a suitable monthly installment that matches your desired loan amount. It only takes a few minutes to fill out a non-binding loan request.

Calculate your monthly rate

Calculate your monthly rate

The credit rate is determined individually based on the creditworthiness of the borrower and the offer by the lender. The offer calculated in the loan calculator is based on the average interest rate of all loans available in the system. Product information: net loan amounts from $ 1000 to $ 10,000; Terms from 24 to 84 months; monthly payment in installments; Installments from $ 44 to $ 440; fixed borrowing rate of 3% to 8% pa; effective annual interest rate of 8.12% to 13.74% pa, each including a one-time agency fee of 3% to 6% of the loan amount and an administration and account management fee of 0.0012% to 0.22% of the loan amount to be paid monthly with the installments; Representative example (creditworthiness required): net loan amount 2000 $; effective annual interest rate 13.45% pa, fixed borrowing rate 8% pa, term 24 months, 24 installments of $ 91.97 each; one-time agency fee of 3%, monthly agency fee of 0.076% to be paid in installments; Total amount to be paid by the consumer is $ 2207.34.

Loans with VAT number just opened

Loans to open a VAT number

Loans to open a VAT number

Loans with VAT number just opened. Why limit yourself to mentioning a newly opened VAT number in exchange for indicating all the loans to VAT holders in general? Because it is not a limit but it represents a way of letting you know some types of loans that are intended only for those who have a new VAT number not necessarily just opened, even if we will explain, from the credit market point of view, the definition of just opened. Not only that, but some forms of credit will even have to be accessed without any VAT number as the latter will represent the way, the tool, to start a new job or forms of financing known in the lexicon of finance as loans to open VAT number where In fact, it is affirmed that in order to access it, you do not need to be a VAT holder according to some timescales of which we will say now.

The starting point

The starting point

Loans for new VAT number, that is to open a new VAT number. The starting point for obtaining these types of financing, as we said, is that of not having any VAT, although with different times. For example, in the Invitalia Self-Employment Loan of Self-employment, there must be no VAT number at the time the application is submitted, nothing specifying for the other periods prior to the application. While for freelancers who want to participate in the Rest in the South incentives there is the temporal stake of not having had any VAT in the previous 12 months if the application concerns an activity similar to that ceased. Speaking of free professions, these, with the 2019 Budget Law, can access Resto al Sud, which was previously prohibited.

Another case of loans to open a new VAT number is that relating to the incentives of New Companies at Zero Rate : in this case the VAT number must not be had if a group of natural persons submits the application which, if allowed, will have to, within 45 days, set up the company complete with VAT Almost the same can be said for accessing Smart & Start : some individuals, without VAT, can apply, but if the innovative idea is accepted, the deadline for setting up the new company and opening the new VAT number drops to 30 days. However, we will say more about these two forms of financing later. We continue further.

Will deal with those forms of credit

Will deal with those forms of credit

Financing with VAT number just opened. If those just read concern some examples of loans to open a new VAT number, now we will deal with those forms of credit where the VAT must already exist but, based on the type of financing chosen, it must not exceed a few time periods or must be without or with accounting movements: these are loans with a VAT number that has just been opened. So, let’s start by indicating again the incentive of the New Companies loan at Zero Rate, which, outside the hypothesis said about companies to be established after the application, concerns those already established before the presentation of the application: to access New Zero Rate Companies, companies must have already been set up but for no more than 12 months even if they have a busy VAT number.

The Youth Guarantee loan is addressed to individual companies and companies, including those set up between professionals. In the case of , there is the aforementioned limit of 12 months within the constitution but, unlike the New Company at Zero Rate, the VAT number must be free of accounting movements. A truly original case of loan with VAT number just opened is that of Lite Lender. The peculiarity of being “just open” (note the quotation marks), is given by the fact that innovative companies that present  applications can do so within 5 years (60 months) from their establishment. What can we see from all this? That the concept of a newly opened VAT number is very relative, being able to consider a 5-year VAT number as “just opened”.

Being in the start-up phase

Being in the start-up phase

Loans with newly opened VAT number & guarantees. All the hypotheses described so far have the general characteristic of being in the start-up phase, that is, of the start-ups and of being guaranteed by the state but only following acceptance of the application. However, contributions made by state bodies to new VAT numbers are not the only way to finance a VAT holder who has recently opened this position. Well, to meet the new holders of VAT there are also a series of trade associations (of the self-employed and/or SMEs and freelancers) that the Bank which in various capacities finance and/or guarantee many forms of credit intended for those who have a new VAT number. 

Loans for VAT holders. All the aforementioned speech revolved around the new VAT numbers but, rightly, all the problems inherent in the forms of credit for those VAT holders who instead have a consolidated activity over the years remain. For example, problem of how to finance those minimum VAT holders. But also the hypotheses of liquidity problems related to the economic situation, difficulties that can be overcome at times but sometimes not with the risk of leading to reports in databases. In short, all those other types of loans for VAT holders that are not included in the cases described above. For these owners, we suggest a reading of the proposed solutions on loans for VAT holders.


Apply for credit – how to obtain?


Would you like to apply for a loan, but are still unsure what is important? Should your application be decided quickly and should the money be available in the checking account within 48 hours?

You can find all the important information in our small guide to applying for a loan. We explain how you can find the lowest interest rate offer in just three mouse clicks. You will also see at a glance whether the desired loan offer can be quickly decided and paid off.

Apply for a loan – low interest loan

Apply for a loan - low interest loan

Applying for a loan is very easy; if advertising were to be believed, every loan advertised is low-interest. If you don’t want to rely on advertising, but want to be sure to apply for a low-interest loan, go online. Free credit comparison calculators take on the task of finding a loan. Three simple mouse clicks are enough for the loan calculator to suggest suitable loan offers.

The comparison calculator lists eligible loan offers sorted by interest rates. Attention should be paid to the effective annual interest rate. This interest rate includes all costs incurred by the borrower by taking advantage of the loan offer. The list is mostly led by interest rate offers that depend on creditworthiness. Credit-dependent means that the personally proven credit rating for lending decides on the approved interest rate.

The advantages of applying for such a loan are particularly good for people with very good credit ratings. – For example, senior officials. The representative example shows at what interest rate “average citizen” receives the loan. Compared to the interest rate that 66 percent of all applicants receive, interest offers that are independent of creditworthiness are often cheaper. With the offers, which are often incorrectly referred to as fixed-rate loans, each borrower pays the same interest rate.

Basically, for every loan request, only an applicant who has sufficient creditworthiness to grant a loan can hope for a loan approval.

Credit rating for lending – what is the score?

Credit rating for lending - what is the score?

Any lending carries the risk that a borrower will not be able to repay the loan or will not want to repay it. The task of the score is to measure the risk of lending machine-readable as precisely as possible. A score is a numerical or numerical value that precisely defines the credit default risk. All knowledge about the borrower is included in the scoring value, the future forecast rounds off information from comparison groups.

Fast lending is based on an applicant reaching or exceeding the preset score. In this case, the system automatically approves the loan. – Provided that the supporting documents to be submitted prove that there was no “flickering” with regard to income and expenditure. In order for the final automatic credit check to be carried out without delay, however, the application must be legally binding.

Apply for a low income loan – identify problems

Apply for a low income loan - identify problems

The state protects every citizen’s income from seizure up to a predefined amount. The respective garnishment table shows how high this sum is in the individual case. Regular fast installment credit can be expected with a good credit rating if the personal net income clearly exceeds the garnishment-free limit. At the same time, of course, the household account must demonstrate a sufficient surplus for the ability to pay in installments.

In the event of repayment difficulties, attachability of work income is the safest pledge so that the lender does not lose any money. As a result, problems with lending can arise not only if a negative credit entry tarnishes the creditworthiness forecast. Even if the income is too low, not every credit institution considers lending secure.

Especially when a very low interest rate is tempting to apply for credit, the bar for proof is usually quite high. A lower threshold can be assumed if a risk premium is included in the effective interest rate. In case of doubt, it is advisable to make a non-binding advance credit request. Without worsening credit rating, the loan provider checks the loan request and communicates the expected result of a legally binding credit check.

Apply for a special loan – differences and offers

Apply for a special loan - differences and offers

Applying for and receiving credit is not only possible if you have a good credit rating, as evidenced by credit rating or the score. Every automatic credit rating system has minor weaknesses. It is particularly problematic that not every positive change is automatically recognized by the system. Refuting negative creditworthiness with supporting documents is the chance that credit providers offer for special loans with the individual case check.

However, applying for a special loan is only successful if the result of the individual case examination clearly shows the creditworthiness of the loan. – This applies no matter what the loan advertising promises or seems to promise through half-rates.

Applying for credit from private lenders fulfills a special position in the reputable credit market. Private investors do not have to base their secure lending on legal regulations like banks do. 

Applying for a loan is as easy as with a bank. – Only private donors are allowed to take a higher credit risk than banks, so their loan approval is easier to obtain.