Personal Loan
Personal loan is the most widespread form of financing characterized by different quality and facilities, thus satisfying a broad category of people. The personal loan is not finalized a financing, not tied to the purchase of a specific good or service, thus without the requirement to declare the end of the sum paid.
Particularly advantageous for several acquired simultaneously or need of cash. Afforded the opportunity to request a personal loan when you have other funds already in progress.
Unlike the loan, the agreement of the funding for a personal loan takes place solely between the lender (bank or finance company) and applicant (customer), without going through a reseller (dealer).
The amount agreed for a personal loan is paid directly into bank account of the beneficiary, by check or wire transfer, by going directly to the door of any institution / company credit, or use the websites in the case of on-line.
The repayment of the loan (amortization) by the client usually happens through the payment of monthly installments and a fixed rate for the duration of funding, regularly expressed by the values TAN (nominal annual rate) and T.A.E.G. (APRC), which was important to assess the suitability of an offer.
It is a good rule to be wary of financial companies operating in a professional and just check that they adhere to rules laid down on consumer credit. Under this legislation a personal loan is aimed at individuals (consumers) and cannot be granted to companies to finance their activities.
The recipients of this type of financing are mainly employed as part of any category (employees, self-regulating, self-employed, etc.) And with any type of contract (indefinite duration, training, apprenticeship, self, etc.), provided there is the presence of a certified income (for self employed through the model Unico) and sufficient in relation to repayment of the funding requested.
The maximum amount that the bank may provide for an employee, in fact, is linked to his salary and the net; general budget. With the exception of fixed-term workers, bound by the length of contract for which will be granted only a refundable within the period of employment. Even retirees can rely on the personal loan by the expression of the transfer of the fifth.
As funding is not finalized, the personal loan generally does not provide for the presence of collateral (eg ownership of a property for any liens or mortgages), but to limit the risk of insolvency, institution or company Credit may sometimes require some minimum guarantees such as the signature of a guarantor or a guarantee, especially when the total funding request is too high compared to net income of the applicant.
It is difficult to establish standard rules on the request for guarantees, each case will have a risk profile (credit score or scoring) in a single transaction and the individual applicant.
Be stressed that the personal loans tend to not be granted to bad payers or protest.
When they are selected for funding as the personal loan will be paid particular attention to the contractual arrangements of the various bids.
April 3rd, 2009 at 7:56 pm
[...] Loan is the transfer of a sum of money with the repayment equal or greater value. The term of loan is essentially a financing of money that an institution or company is authorized credit (such broker or dealer) grants to a person. [...]