Author: admin

Here we show you who pay out sms and fast loans directly to your bank account during National Day, June 6, 2019. A lot of lenders have stated how they are open on National Day, while others have not specified any deviating opening hours.

We start by looking at the lenders we know are open on National Day on June 6, 2019 and who pay out money directly to the bank account. We also show at which bank you must have a bank account in order for you to have the money deposited directly into the bank account. If you are interested in a particular lender, just click on the name and you will find out more about it.

 

Lenders for money 

The following lenders have not specified any special opening hours for National Day, but since none of them are even open on Sundays (which is a public holiday), we can assume that they do not pay out money on National Day. However, you will receive the money on Friday, June 7, if you apply for National Day, whatever your bank account.

You will find more information about all these lenders on our loan repayments page on the same day. There you will find 38 lenders who ensure that you receive the money on the same day, which means that you are guaranteed to get your loan on June 7 if you make your application already on National Day June 6.

Note that you can of course also get your loan on June 7 from the lenders who pay out loans on National Day, even if you do not use any of the banks we have specified.

 

A little about the loans

All loans you can get on National Day, except LeMoney’s, are high-cost credits, ie credits that are usually called sms loans and fast loans. Ordinary bank loans and large private loans are never deposited directly into the bank account during weekends, not even on ordinary Saturdays and Sundays. What is typical of these loans are the following:

• The annual interest rate is high, it was usually at 29 – 39% (usually just above 39%).
• The money is usually deposited into the bank account within a quarter to half an hour.
• Almost all lenders grant loans without taking any credit information from UC.
• Only one of the four lenders who make payments on National Day accepts applications that have payment notes, and that is Viaconto. But there are many who do so if you can settle for the loan on Friday instead.
• The requirements for obtaining a loan are low and the level of funding is high in comparison with ordinary bank loans and larger private loans.

 

A little about National Day

Since 2005, the National Day has been a holiday, at the expense of another Pentecost, which then became a regular Monday. Some complained about this because the National Day occasionally falls on a Saturday or Sunday, which means that people who work from Monday to Friday do not always get extra leave. On Monday, Pentecost always falls on a Monday.

In any case, National Day has never been celebrated as much as in many other countries, such as Norway and the United States. In Sweden, Midsummer Eve is a much bigger celebration when it comes to celebrations. But when was National Day really introduced? Why exactly June 6? And when did you start saying National Day instead of Swedish Flag Day?

Have a really nice National Day!

Also known as real estate refinancing, chattel mortgage or home equity, the secured home loan is one of the personal loan options offered by banks for those who need to obtain lower interest rates and longer terms.

Usually sought by those who want to group all debts into one, as well as investing in personal projects, renovation or construction, acquisition of goods, among others.

The guarantee, as the name implies, is the property of the person requesting the resource and the amounts released are higher than that of a conventional personal credit. Usually the minimum value is 60 thousand and can reach up to 60% of the property’s market value.

Very strict criteria are used to release the resource in this modality, because taking the customer’s property is not advantageous for the bank, and it may be proposed to renegotiate the debt or the term to avoid the sale of the asset, in cases where the customer is no longer able to bear the parcels.

Who can apply for the secured home loan?

This type of loan is intended for individuals who own their own property, and can be a house, apartment or commercial room (provided it is in a commercial building). Some banks also serve legal entities.

There are cases in which the owner may grant his property as a guarantee for third parties, but this issue must be in accordance with the policy of each financial institution. If the bank you are negotiating with approves the loan in this condition, it will work as follows:

You have income approved by the bank and want to obtain resources to invest in your own business but do not have property in your name. If any family member (preferably a father, mother, siblings or children) has their own property paid off and agrees, you can offer it as collateral for your loan.

In this case the owner who agreed to grant the property as collateral will be called intervening guarantor or surety solidarity.

Real estate loan steps

After consulting the trust bank and simulating the amounts and installments, your loan request with a property guarantee will go through the following steps: Credit Analysis, Legal Analysis, Property Valuation and Contract Signing.

Credit analysis

In this step, the information will be verified to prove income, payment capacity and eventual pending issues, according to the parameters and internal policies followed by the bank.

Property Valuation and Legal Analysis

As from the credit approval, a specialized company will be asked to inspect the property (object of the financing), with the purpose of verifying, with precision, the market value and the structural conditions of the property.

In the legal analysis, the property documents will be analyzed: registration, property tax and property appraisal report, as well as the existence of pending issues on the property.

Contract Signature

The operation is carried out through the signature of all parties involved in the contract. This is forwarded to the registry office where the property is registered in order to register the transfer of the property to the creditor (bank) in the property registration certificate.

This notary procedure takes around ten working days and the resource is released to the client after the bank’s conference.

For the analysis steps, you will need to submit the following documentation to the bank:

Property Documentations

• Property Registration Certificate: document containing the property registration in the client’s name
• IPTU (Urban Territory Tax) cover: where the address and areas of the property are listed
• Negative Certificate of Real Estate Taxes: document provided by the city that guarantees regular payment of taxes.

Customer Documentation

• RG and CPF
• Birth or marriage certificate
• Proof of address
• Proof of income (pay stubs, bank account statements or complete income tax return)

Conditions for your property to be accepted as a guarantee

For a property to be accepted as collateral by the bank, it must obey the following main points:

• Property value (the minimum varies between $ 150 thousand and $ 200 thousand)
• Property type (residential or commercial)
• Construction material (masonry structures only accepted)
• Location (I accept only properties in urban areas)
• Having no outstanding debts (IPTU, condominium)
• Have regular documentation
• More than one property built on the same land will be subject to analysis, as it consists of a multifamily
• The property composed of residence and commerce is generally not accepted, as it is a mixed property

In summary, the property to be pledged must be free of restrictions in any area: mortgage, pledge, surety, lawsuits on the property of any nature, among others.

In addition, even if its documentation is in order, the property must be in good condition, located in urban regions and completed.

My property was not accepted, now what?

If you need a loan and your property was not accepted as collateral, there are other loan options that can help you. Here on the blog we already talked about payroll loans and personal loans .

And if you work as a maid or have a registered maid asking for a loan, we have the perfect solution!

Visit our website and check out our credit solution for domestic servants from all over the country.

Interest rate and payment term of the secured home loan

One of the main advantages of the loan with the property guarantee is the lower interest rates , because the client gives the property as collateral.

The approximate percentages currently practiced by the market in this modality are below 2% pm + IPCA (Consumer Price Indices) while, in other modalities, such as overdraft, the effective interest rate may exceed 10% pm.

The payment term is longer and varies from bank to bank, ranging from 36 to 240 months, so that, due to the high value of the transaction, the borrower can have installments that fit his long-term budget.

And here’s a tip that can be used for any credit application, regardless of the modality: observe the fees charged by each bank and see if it is in accordance with the market.

It is also very important to take into account the Total Effective Cost (CET) because, in addition to interest rates, it includes all other costs that involve the operation: contracting fees, taxes, insurance and others.

We at Savequest Bank have long hoped that the tough competition in the fast loan market will result in lower prices for several of the lenders so that we get cheaper fast loans. That has not really happened, some lenders have even raised their prices. But now it has actually started to happen a bit on the price reduction front and it is only to be hoped that it will lead to more lenders following.

 

Mobile loans lower their prices by 25%

Mobile loans lowered their prices in June 2016 by as much as 25% and this has meant that their fast loans have become among the cheapest on the market, which we like sharply. For example, when it comes to fast loans of USD 3000 for 30 days, Mobile loan offers the third cheapest loan on the sms loan market and the same goes for USD 5000 for 60 days. Of course, this is excellent, as Mobile loan is a very sensible lender who also pays out money quickly to Surelend Finance accounts.

 

 

LendPremium Credit lowers the interest rate for its larger sms loans

At the end of May 2016, LendPremium Credit also reduced the prices of its slightly larger sms loans by about USD 100 – 200 per loan. The loans concerned are those of USD 7000 – 10000. The reduction is not as impressive as the Mobil loan carried out, partly because the percentage reduction is not at all as great as Mobile loan’s loan and partly because it does not affect all loan amounts, but it is still better than none.

 

Lower interest rates at Highest Bank throughout June

Highest Bank has also temporarily lowered its interest rates in June, but we hope they will continue to do so after June, even if it is doubtful. After all, it’s not the peak season for the lending industry in June, since most people get their tax refund then, so that’s probably why Highest Bank lowered their rates in the month of June. The interest rate at Highest Bank is currently at 12.5% ​​- 25% instead of 22.5 – 25.0%.

Highest Bank has no cooperation with Savequest Bank and other comparison sites anymore, so we do not have them on our site anymore.

 

The beginning of a new trend?

That said, prices have started to move down a bit when it comes to fast loans. However, it is not so certain that this is the beginning of a positive trend with cheap sms loans, but we can hope for that. You do not need to be a Doctor of Economics to understand that fierce competition lowers prices for the consumer in the long run and that should of course apply to sms loans as well. And it can also mean that those actors who do not have sufficient profitability have to put down their activities, but those who get to do that are the ones who few like and maybe they don’t.

Sms loans low interest rates

Some politicians and the media have long argued that the lenders who pay off quick loans directly cause people to fall into debt due to impulse purchases. Furthermore, they mean that quick loans paid on the weekend cause people to borrow for parties and games about money, in addition, people who have made it a bad loan to settle when the money runs out.

You can read about what the custodians of quick loans think about this in our article on criticism against sms loans

Releasedebt.com understands that this with direct payments and loans on the weekend obviously has a back side as well. It is a good service that you can get your money right after the application is approved, both on weekends and weekdays, but it is obvious that it attracts impulse loans that you finance so you should not use a loan for. However, we think it is up to you whether you take out a loan or not, adults must be able to take responsibility themselves.

Get sms on weekends with us

In any case, we have seen that the pressure after sms on weekends with us is less than on weekdays. Yes, most people who borrow through us actually do it on weekdays and not on weekends. Of course, this is not a scientific basis for more people taking sms on weekdays. It is more like a case study of our own site, but with us at most 20% take their loans this weekend.

Most of us borrow by salary

Another thing that is interesting is that many people think that most people take their sms loans just before they get their pay when the wallet is empty. It is very possible that it is so on the whole and logically it should be so, but not with us. No, we have seen that most people who borrow through our site do so during the first two weeks of the month, ie after people have just received their salary, A-cash, sickness benefit, pension, their tuition or what they are living on .

Our conclusion

We do not know why there are fewer people who borrow through us at the weekend and before pay than they do during the other days of the month and we cannot draw any scientific conclusion from this. But it seems that most people who visit us and borrow money do not do so to pay for partying on the weekend, nor because it is empty in the wallet. It may be a matter of needing a little extra to buy something that costs a little more that you otherwise cannot afford, not because you cannot afford to live.

Our conclusion is therefore as follows

• There are relatively few visitors to Releasedebt.com who lend to Sus and thus on the weekend.
• Few people have made it really bad for us to borrow through us.

Of course, this may be a coincidence that has stayed with us throughout 2015, but it is right now anyway. However, many are attracted by taking a really fast loan, ie fast loans that are paid out directly, so we cannot exclude that people take loan loans through our site. By the way, we are very pleased with our visitors’ loan behavior and are of course very pleased that you visit Releasedebt.com, the site that gives you honest info and honest reviews of sms loans, which advise against overly expensive sms and tips on cheaper and who warn about loans that can really make you indebted.

Last week, the Consumer Agency explained that they have reviewed 23 loan intermediaries and that many of them give an overly unclear picture of what they are doing. Snabblan24.nu collaborates with no fewer than 12 loan brokers at present and therefore we think it may be worth looking at what they have come up with.

The Consumer Agency considered the following points to be defective in many intermediaries:

1. Several loan intermediaries are unclear about the fact that they are not a credit company. There are many who believe that the intermediary is a credit company that grants loans themselves.
2. There are many customers who believe that the loan broker has influence over who is granted the loan and how much the loan will cost, which of course is not true since it is the credit company that decides such.
3. Most brokers state the lowest interest rate the consumer can receive, which can be misleading for many customers. It is true that the interest rate for private loans and loans is set individually, unlike sms loans, since the interest rates for most lenders are the same for all borrowers.
4. There are many loan intermediaries who are unclear about which banks and credit companies they cooperate with, some do not specify at all who they cooperate with.

Okay, good and good. Now we will comment on the Swedish Consumer Agency’s criticism and, on the other hand, review our own loan intermediaries so that you can see how it looks with us.

 

Are our loan intermediaries misleading when it comes to interest rates?

Answer: No. The intermediaries who specify a low interest rate or “off-rate” also inform that the interest rate is set individually. And seriously, what customer does not know that all interest rates for private loans and for loans requiring collateral are set individually? The banks also usually sign with their “low interest rates” and it is nothing strange about that. Everyone knows very well that interest rates are affected by their ability to pay and their payment history. This criticism is therefore ridiculous. It seems that the Swedish Consumer Agency believes that we adults are stupid, that we are toddlers who have not learned to read an information text.

 

Are our intermediaries unclear with whom they cooperate?

Answer: Yes and no. Some loan intermediaries clearly state which banks and other credit companies they cooperate with, while others do not. We at Snabblan24.nu believe that all credit intermediaries should clearly state which credit institution they cooperate with, so at this point we can agree with the Consumer Agency’s criticism. Well, in the end, it is you (adult) customer who decides how much you are willing to pay for your loan. You always have the right to rate all loan offers without costing you a single cent.

Show that the fast loan companies withdrew interest income of as much as USD 90 million in a single quarter, which in one year will be USD 360 million. This tells us two things: 1) that sms, or fast loans, are Good Business and 2) that people who have taken sms will make 120 million in interest deductions in total before the end of the year.

It is true that you can set off 30% of your interest expenses against paid tax and 30% of USD 360,000 is USD 120 million. This means that the state can repay a total of USD 120 million to those who have taken sms loans, which we like but probably not the state.

 

The interest deductions for mortgage loans are the worst

Well, the interest deduction for sms loans is probably not a major problem in this context, since the Swedes have so far this year reported interest costs for as much as USD 95 billion, which means that the state loses about USD 28 billion in tax. The biggest culprit in the drama, of course, is the large mortgage loans that are constantly increasing in size because mortgage rates are low and housing prices are high.

 

Don’t forget the interest deduction when looking at sms loans

Yes, you can thus deduct your interest expenses even when you take out sms loans and it should be kept in mind when looking at the total loan cost when borrowing money. In the short term, of course, you have to pay back the interest cost that the sms loan has, but in the slightly longer term the cost is actually lower than that since the interest rate for sms loans is deductible.

Snabblan24.nu should give you an example that shows how it works:

1. Suppose you take a sms loan at Onea of ​​USD 3000 for 1 month, then you get USD 300 in interest costs, ie 10% of what you borrowed. Of course, you have to pay this within 1 month.
2. In the declaration you state that you have had an interest cost of USD 300, although most often this information is already the declaration because it is usually reported by the credit company you borrowed money from.
3. You may deduct 30% of your interest expenses of USD 300, which will be USD 90. This means that USD 90 of what you earn is tax-free money because of this sms loan, money that you would otherwise have taxed.

One thing to keep in mind when it comes to deductible interest rates on sms loans is that you obviously have to have an income or a return on capital in order to qualify for the interest deduction, but on the other hand you probably don’t even get a sms loan if you don’t have any income at all.

 

USD 1 billion in quick loans

Before the end of the year, people are expected to have taken out fast loans for at least USD 1 billion in 2015, but how many loans are they really about? This has not been able to get any figures on Snabblan24.nu yet, but it would be about 300,000 fast loans if the average loan were at USD 5000. With us, most loans take a few thousand dollars, but every now and then it is about bigger loans, so USD 5000 may not be a completely unreasonable figure.

Unfortunately, the crown bailiff received 60,000 cases due to fast loans in 2014 and if people took maybe 300,000 loans in the same year, this means that every fifth customer who takes a sms loan ends up with the bailiff, but probably our figure of 300,000 fast loans is understated. In any case, you should not become one of those who end up with the crown bailiff, not if you carefully read our article on what to think about before taking a quick loan.

In several blog articles we have written about how sms are often scolded in the media, but even in many internet forums and social forums people write that sms are just rubbish. Most often it is those who have not taken any quick loans that write that all fast loan companies are rogue and carry on unscrupulous, while those who have actually taken sms loans are more constructive in their criticism. Some people write that they regret taking out an overpriced loan, but many are actually satisfied with the services offered by the fast mortgage companies.

In any case, many sms loans have an undeserved bad reputation while some small quick loans deserve harsh criticism. Above all, there are many loans that are too expensive when it comes to slightly larger amounts that have a longer maturity. For example, it is quite sick that some lenders have a loan cost of USD 5000 – 6000 for a loan of USD 8000 with a 1-year maturity when there are other sms lenders who take USD 1000 – 1300 for fast loans with the same amount and maturity. Of course, this is what makes the sms criticize, but that’s not the whole truth.

Another reason is that the media insists on always looking at the effective interest rate and it is obviously high when it comes to small short loans as it is not profitable to borrow for example USD 1000 for 1 month and take the same interest rate as for a large loan which put up for many years. If a loan of USD 1000 with a 1 month maturity would have an effective interest rate of 5%, the lender would earn type USD 5 on it.

 

Three measures that give room-clean sms

So how do you get a sms loan market that can be considered more room clean? The rules for sms loans have already been tightened with it has not, according to many, been sufficient. Well, we at PennySnap Finance believe that the following three actions can help a bit in the stack.

 

1. Interest ceiling with rhyme and resonance

In Sweden, all banks and other credit companies have the right to set what interest rates they want. The reason for this is that it is considered that it is the consumers who want to borrow money that decides what interest rate they are willing to pay. We can agree with this argument on PennySnap Finance. If you think a loan or other product is too expensive, you should simply refrain from this product, but even so, we may think that there should be some kind of limit on how high the interest rate may be. There are people who are desperate and willing to pay any interest only if they manage to borrow money.

However, the interest rate ceiling must be adjusted to the size of the loan and the repayment period. The interest rate ceiling should thus be different for different types of loans. It would be unreasonable for an ordinary private loan to have an interest rate ceiling of several hundred percent, but it is not unreasonable for a sms loan of USD 1,000 with a month’s repayment period. The question is only if it will be too much trouble to have different interest rates and then the whole idea falls.

 

2. Cost cap – can help in some cases

Last year, an investigation was started where, among other things, one would look at whether it would make sense to introduce a cost cap for loans. The idea is that a loan should never be more expensive than the amount you have borrowed. In short, if you borrow USD 20000, the cost of the loan may not exceed USD 20000. However, we think that such a measure is not sufficient if one wants to access too high borrowing costs in the case of ordinary loans, since loans with a fixed maturity never cost more than the loan amount. However, it can affect the cost of borrowing for sms loans which can be extended in perpetuity and online credits that have too low repayment requirements and that is of course good.

 

3. Tougher reprimands in carelessness

There are still sms lenders who are a bit sloppy when making their credit assessments and we think such carelessness should lead to the following reprimands:

1. If a person who obviously should not have been able to borrow money has still been able to borrow, then the careless credit company should not be able to send the debt claim to debt collection or sell the debt to a factoring company.
2. The debt should not be passed on to enforcement authority.

These measures would certainly cause careless credit companies to sharpen their credit ratings as they would otherwise risk losing what the company has lent. Yes, then they can neither get help from the debt collection nor the Kronofogd by collecting the money, nor can they sell the debt to get back a certain amount of the money. This is also something the investigation that started in 2015 looks at.

If the above three points were to be implemented, the sms loans would be guaranteed to be more room-clean, but of course the complainant would not cease until the effective interest rate falls to type 5 – 10%, which would be completely impossible for small short loans. There is no credit company that would go around it.

Did you take out a payroll loan in installments that did not weigh in your pocket, but now you are able to advance the installments? There is a simple way to settle your debt before the end of the contract: the prepayment of the payroll loan.

Even with multiple installments due, it is possible to request that the debt balance be calculated so that you can pay it at once.

What does it mean to pay off the payroll loan in advance?

If you have extra money and are thinking about this possibility, keep reading, because we will tell you everything you need to know about how to pay off payroll loans in advance!

The payroll loan:

The payroll loan differs from other types of credit due to certain factors: interest rates tend to be lower, installment terms may be longer and payment is automatically debited from the borrower’s salary or benefit.

This payment method makes the payroll loan a very safe operation for banks, since payroll discounts significantly reduce delinquency.

In this dynamic, however, it is agreed that the value of the installments will be discounted monthly from the receipt of the policyholder until the contract is fully settled.

Because of this, some people think that it is very complicated to anticipate the payment of the payroll loan. But that’s not true!

Early discharge:

The consumer can renegotiate his debt, either to increase the number of installments (an operation called refinancing), or even to request the total repayment of the loan.

In this sense, paying off payroll loans in advance means expressing the desire to pay the missing installments at once, before they reach their original maturities.

Upon discharge, the borrower no longer has a bond with the bank or financial institution that granted the loan and will no longer have to rely on monthly debits in his account.

Why pay off payroll loans in advance?

Generally, the payroll loan offers the possibility to split the amount taken in up to 96 installments, depending on the applicant’s profile. The idea is to dilute the credit so that it does not harm the financial organization of the person applying for the credit.

But if you got extra money, one option is to direct you to advance payments on your payroll loan. Early payment can be very advantageous, especially for those who have enough budget to cover the value of the missing installments and want to save on the loan payment.

The main advantages are:

More savings: the main benefit of paying off the payroll loan in advance is that you avoid paying interest on installments that have not yet matured. Since they have not yet been charged, the interest amount is not applied and the consumer pays the “original” cost of the installment, without fees.

In this sense, paying off the loan in advance can help significantly reduce the value of your debt, generating more savings in the long run.

It is important to make it clear, however, that there is no refund of interest on installments that have already been paid. The rebate is considered only on installments that have not yet fallen due.

Refundable consignment margin: Another positive point is that paying off payroll loans frees consignable margin so that you can make another credit request in the future, should you need it.

The consignable margin corresponds to 30% of the borrower’s receipt, and every time he requests payroll loans it is reduced.

That way, the sooner you can settle your debt, the faster you will have your full margin back and you can apply for a new loan when you need it.

As soon as the payroll loan is repaid, the installments will no longer be deducted from your salary or benefit. With that, you have more freedom to manage your finances and spend as you want!

When to apply for early loan repayment?

The prepayment of payroll loans can be considered whenever the consumer has capital available to settle the installments that have yet to be paid.

Did you receive your thirteenth, vacation or a bonus? Did you sell some items and have a break in your budget? Has the salary increased or earned extra income? Did you receive unexpected money, like an inheritance? All of these are situations where you can think about paying off the payroll loan in advance.

However, it is important to note that this practice is only recommended if the settlement of the installments is not going to seriously compromise your budget!

If you come to the conclusion that the early repayment of the loan will harm your financial organization in some way, then the best alternative is to continue paying the installments until the end of the contract or to pay off at another time.

Payroll loan: payment step by step

We have reached the moment you were probably waiting for: step by step on how to pay off payroll loans in advance!

This is a relatively simple process, but it is important to be attentive to each step and to know some information to ensure the fulfillment of your rights.

• Request the discharge : the first step is to contact the bank or financial institution that brokered your payroll loan application and express your desire to pay the contract.
• Be informed about the values : the institution must add the value of the installments that are still open, already discounting the interest, since they have not yet matured. Then, you will need to send a payment slip or request authorization to debit your account.
• Check the values : as the payroll fees are low, it is common to get confused and think that you are not paying the interest, when in fact they are still embedded in the calculation.

To avoid any mistake or setback, it is worth confirming in your contract the amount of the interest rate and calculate on your own the sum of the installments that have not yet been paid. And if you have any questions or feel unsure about the procedure, talk to the bank.