Installment Loans

Installment loan for car purchase

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Installment loan for car purchase


The dream of owning a car requires a long time of saving. If you don’t want to do without your mobility for this time, you can use an installment loan to buy a car. There are several ways to get an installment loan for buying a car. Almost every automaker now works with a partner bank. For the car buyer, this means that they can get the loan straight away in the car dealership. Some manufacturers even advertise with interest-free loans when buying a new car. A comparison with the second option is definitely worthwhile here.

The way to the dream car

The way to the dream car

This option means getting yourself a loan on the credit market and then acting as a cash payer at the car dealer. With the choice of the second option, every car buyer can end up driving cheaper than with the loan mediated by the car dealer. There can be several reasons for this. On the one hand, the dealer has to hand over part of his commission to the bank for very low-interest loans for his customers.

This can limit the car buyer’s negotiating scope when it comes to the purchase price. If the car is a used car, it is even more interesting to take out an installment loan for the car loan from the house bank or an online bank.

Experience has shown that the conditions here are more favorable than with a loan that is brokered by the car dealer.

Balloon rate or constant high rate – the financial scope decides

Balloon rate or constant high rate - the financial scope decides

With an installment loan for buying a car, the buyer can basically choose between two different types of financing. On the one hand, a loan contract for constant installments can be concluded during the entire term of the loan. The vehicle is paid off at the end of the credit period. The monthly charge for the borrower is the same for each installment. Alternatively, the borrower can also take out a balloon payment at the end of the term. This form of financing is particularly popular when buying a car.

The advantage for the borrower here is the low monthly charge, since the monthly rate is far lower than in the first variant. This option is particularly attractive for low-interest loans. The borrower can save on the balloon rate throughout the loan term without being exposed to unnecessary costs. In addition, due to the low monthly load, he remains flexible with regard to his budget planning.

In the case of a higher interest rate, the first variant may be more recommendable. In this case, the repayment of the loan amount is higher each month and therefore less interest accrues over the entire term of the loan.
Ultimately, the individually offered terms and budget of the borrower decide which installment loan is best for the car.


Dollar mortgage loans will virtually disappear from the market. Is this a big loss?

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Dollar mortgage loans will virtually disappear from the market. Is this a big loss?

The number of new loans that are denominated in USD is steadily falling and dollar products are no longer counting. The fate of loans settled in the Swiss franc was sealed in April last year. Further editorial at

It was then that the last domestic bank withdrew them from its offer. One of the reasons for such a dramatic decline in the popularity of foreign currency mortgage loans is the regulations of Fine Bank.

The GFI has been thinking for some time that such products should become even more niche.

Banking supervision will soon achieve its goal by introducing the same currency requirement for loans and income generated (see point 6.1 of the amended Fine Bank). This restriction will affect almost all wealthy customers …

Offer only for selected ones


The new regulatory plans of the Fine Bank have not influenced the offer of loans settled in USDs for the time being. Such products are still included in the information materials of eight banks (see the list below).

Seven lenders have been foreseeing additional restrictions for a long time, which effectively discourages most interested customers.

The most popular solution is the minimum income limit. In the case of the most liberal Good Credit Bank, it is over twice as high as the average net remuneration (USD 5,660). Fine Bank and Good Credit predict a limit three times higher (USD 15,000).

The black bowler bank also requires an income in the currency of the loan. An identical restriction is also applied by two other lenders: 

After the introduction of the amended Fine Bank, the requirement for a single currency for the loan and income generated will apply to all mortgage loans.

USD mortgage offer: requirements of domestic banks




Across Bank

the borrower’s minimum income is USD 15,000 net

loan available only to users of the Private Banking service or persons who earn an income of USD

Fine Bank

the minimum income per family member is USD 15,000 net, for single persons the limit is USD 10,000 net

Honest Bank

the loan only available to applicants who earn an income of USD

Agree Bank

the borrower’s minimum income is USD 12,000 net

Instant Care Bank

the minimum household income is USD 5660 net of tax

Binary Lender

Spin Lender

The loan is only available to people who earn an income of USD

Across Lender

the minimum household income is USD 10,000 net


Attractive interest as compensation …


The low cost of raising capital is an asset that partly compensates for the poor availability of the products in question. Data from the Fine Bank indicate that the average interest rate on housing loans in USDs is 3.2% (data for November 2012).

The corresponding value for contracts settled in the national currency is more than twice as high (6.9%). What do you think Is it worth applying for a currency loan? 

Loan Fast 2000-60000 $ – Free application, loan decision now!

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Loan Fast 2000-60000 $ – Free application, loan decision now!

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We represent several reliable and well-known Finnish banks and financial institutions. All these lenders have been approved by the Finnish Financial Supervisory Authority or the Regional Administration of Southern Finland. Loan agreements through us are affordable, reliable and flexible solutions to our clients’ financing needs.

We do not lend you money directly

We do not lend you money directly

Nor do we make the terms and conditions of the loan eligible, we only act as an intermediary between you and the lenders. However, you will not pay any more for your loan than applying directly to the bank.

It is worthwhile to compete because the interest rates and loan terms of different banks can vary considerably. You will have to spend a lot of time if you are going to bid on all the different loan solutions on your own. In the loan finance service, filling out one application is enough to get a fast loan without collateral.


Now you no longer need to consider whether it is safe to apply for a loan online. This is a very common concern for many and we are happy to announce that applying for a loan through us is completely safe.

At Good Finance, we value safe loan application very highly. All the lenders we represent are well known and trustworthy companies. Our business is to minimize the risk for the customer that he or she will need to obtain an excessively expensive loan.

In terms of data protection, we comply with the laws, requirements, and regulations of the Finnish State. We are constantly monitoring the evolution of security and changing the service to meet the latest requirements.

An essential part of the loan application process is identification with bank codes at the time the loan application is approved. This policy is designed to prevent abuse.

The online loan process is quite fast compared to the old fashioned way of working with stone banks. We will further accelerate your process by competing for a multi-loan loan for you. No more clicking from one web address to filling out an application for multiple services.

When using Good Credit

You only need to fill out one application to get one or more loan offers from multiple lenders and always get an affordable consumer credit for your needs. Loan offers arrive in the same place on your own pages where you can compare them and choose the best deal.

Our service allows you to get a loan quickly, as the money is in your account even the day after you accept the loan offer.


With one simple loan application, you can easily compete with the loans of several lenders. We do all the competitive work for you and try to find as many offers as possible for you. However, it is always up to you to make and choose a loan. Applying for the cheapest loan can no longer be easier!

The use of loan financing is always free for all customers

The use of loan financing is always free for all customers

At no time will you pay us for the competitive bidding. You will receive the same loan through Loan Financing at the same price as if you had received it directly in that country. the lender. The only difference in the process is that you get a competitive loan ready – easily and for free.


The fulfillment of the loan application is not bound by anything yet, and the client is free to weigh the offers received. Each borrower will receive offers on the most suitable loans. In addition, each applicant’s loan application is individually processed and a multi-level risk assessment is conducted to determine whether the client is in a sufficiently stable position to take out a loan.

Whether you need a loan for renovation, a car, a daily life, a vacation or just information on different loans, we are here for you.

Credit for master school – prospects

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Credit for master school – prospects

If you want to invest in your future, you can choose a master school. With a master craftsman certificate, the employee receives many advantages as well as a high esteem. This is reflected in a higher income and a certain independence. Many employees who want to become self-employed even need a master craftsman certificate to be able to train apprentices with it. In this way, he avoids having to add an additional master to the company to fill this position. The costs of a master school are high and in most cases cannot be paid from the current budget. A credit for the master school is being considered.

The credit for the master school – the prospects

The credit for the master school - the prospects

Many employees who want to progress professionally or have decided to work only for themselves in the future and strive for independence are faced with high costs. Nowadays there is also the possibility to complete the master school next to his job. So he still receives his earnings, but there are still high costs.

The question then arises, how are the costs to be paid? One thinks about a loan for the master school. This loan can be counted among educational loans and it has a special position in lending. Lenders are a bit more generous here and give the loan seeker more time to pay the installments. This is a risk for the lender. However, opportunities that cannot be denied by hand are compared. If the training is successfully completed, the financial situation of the borrower may improve considerably.

The credit for the master school – promotional loan

The credit for the master school - promotional loan

The state supports this measure and offers the Master’s. For example, if you are single and have no children, you can count on 697 dollars per month. 229 dollars are a grant and the rest is an interest-free loan that is paid in installments every month, but at the earliest two years after the successful completion of the master school.

However, conditions are required, such as completed training. Anyone who obtains the Master-school must not take up any other full-time employment during this time. Anyone interested in this school can get a loan from lender company, but also from banks. In order to obtain the master, a basic requirement for the employee and his family is calculated by the responsible state authority. They subsidize up to 30.5% of the costs.

a lender company will cover costs in excess of this, but only up to a maximum of EUR 10,266. The interest rate for this loan for the master school is 3.48% and is variable. The worker should know that the credit is not dependent on the income or income of the parents. There is no need to provide collateral. As mentioned before, the credit used for the master school is only paid two years after the successfully completed master school. Sometimes the grace period can be six years. During this time, the state pays the interest.

credit check is queried so that the promotional loan can be approved by a lender company. If it contains negative entries, there may still be a loan. However, if there is a registered personal bankruptcy in credit check, the loan will be refused.

The master school and other credit options

The master school and other credit options

The employee receives non-government subsidized loans from all local and direct banks. The interest rate ranges from 2.90% to 17.90%. The differences result from a credit-dependent credit check. As with all other loans, the right provider should be found with a loan comparison for the master school loan. If the creditworthiness allows, there can be loans that are around 80,000 dollars.

The cost differs whether the employee completes the master school in evening form or whether he attends a full-time school. If the latter is the case, the master school cannot be paid from your own income lender company will step in as before and other eligible loans will also be offered. If you do your master school in evening courses, you can prepare for a long period of time. He can then pay the cost of this from his working income.

In most cases, banks require a guarantee for a loan to the master school. This is not required at a lender company. If the employee opts for a normal loan from a bank, he has a disadvantage compared to special training loans. A normal loan should therefore only be considered to a limited extent.

If a normal loan is applied for, the non-earmarked loan can be taken out. The conditions for a loan are the same as for all other loans. The credit rating must be correct and the credit check must be in order. With a credit comparison, a cheaper provider can be found.

If the income is insufficient for the loan, the bank usually requires a guarantee. But a surety must also be solvent and have a sufficiently high income. If the employee can no longer pay, the guarantor must do so.
A surety is a risk for the guarantor. He should only agree to a guarantee if he can easily pay the installments that may arise.

The joint and several guarantee equates the guarantor with the debtor, which means that if the debtor stops paying, the guarantor is immediately taken into recourse.

In summary, it can be said about the loan for the master school that the eligible loan from a lender company certainly covers the financial situation of the employee. With the master school he can finance the master school and his livelihood. The loan is cheap, it is paid back in small installments. If the master passes and the employee earns more, he can repay the loan at higher rates.

Anyone who continues to work as a master must continue to provide the aforementioned credit guarantees for a loan to the master school.

Installment loan formulas

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Installment loan formulas

When you take out a installment loan, you will be told by the provider the nominal interest and the annual percentage rate of charge. The nominal interest rate is the interest rate that is added to the loan amount, the APR also includes the fees and changes with the term. You sometimes want to know what happens if you repay the loan early or what the actual cost of the loan is. For this there are installment loan formulas.

Pay attention to annuity

Pay attention to annuity

If the nominal interest rate were added to the sum using a simple interest rate formula, the result would be incorrect because the loan is repaid on a monthly basis. Here, the installment loan formulas take into account the so-called annuity, which is almost always applied to installment loans, unless you have agreed on flexible interest rates (very rarely common). Each month, they repay an increasing share of the loan, the interest portion of the rate decreases, the overall rate remains the same. The installment loan formulas must now take into account that through the monthly repayments an ever decreasing sum will pay interest. The bank calculates that too, and to the exact day. The installment loan formulas are based on monthly rhythms and offer a sufficient approximation.

Employing installment loan formulas

Employing installment loan formulas

If you repay a loan of 15,000 USD in 36 months at the interest rate of 5.2 percent, the respective residual debt is calculated as follows:

Capital times interest factor minus rate = residual debt 1
Remaining debt 1 time interest minus rate = residual debt 2
Remaining debt 2 times interest factor minus installment = residual debt 3
and continuously.

You can also solve the equations according to an unknown rate by calculating the capital times the interest factor high m by the interest factor high m-1 times the interest factor minus 1, where m represents the remaining term. You can calculate the interest factor as the root of the annual residual debt.

Use of the calculations

Use of the calculations

The bank calculates on a daily basis, there are no known cases where these calculations were contested. It can be assumed that the rate calculation is correct. However, if you plan to repay a loan ahead of time, it is worthwhile to use the formulas as an approximation.

Credit for housewives without credit rating

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Credit for housewives without credit rating

Smithsonian Astrophysical Observatory Astronomer and Harvard Senior Research Fellow Shep Doeleman is pictured in his Garden Street office at Harvard University. Stephanie Mitchell/Harvard Staff Photographer

If you look at the credit situation, there are people who are considered good by banks and those who feel the disadvantages. The reason is to be found in their financial situation and inadequate income. But negative credit rating entries also prevent a normal loan. The loan for the housewife without credit rating is a loan for the poorer loan seekers.

The loan for the housewife without credit rating – the prospects

The loan for the housewife without credit rating - the prospects

Housewife’s credit is a relic from earlier days. Today these loans are called small loans and loans without credit rating. If the woman was only employed in the household and had no income of her own, then the housewife loan was a good solution at the time. The woman was able to pay off a smaller loan in small installments and could thus afford something. But today there is actually no credit without income. If these loans are nevertheless approved, other guarantees must be provided.

The approval criteria that banks have are a sufficiently high income, a clean school and a permanent position. The income must be above the garnishment exemption limit. For a single person, this is around 1,070 dollars. If there are other people living in the household, the limit shifts upwards. If these requirements are not met, there is no loan from a conventional bank.

If the housewife can name a co-applicant or a second borrower, the situation is different. The co-applicant could then be the spouse, for example, who practically secures the loan with his income. The same picture emerges for a second borrower. But the housewife’s credit, as it used to be, should be taken out as a loan that the partner knew nothing about. In this way, this loan for the housewife without credit rating will no longer exist today.

The loan for the housewife without credit rating with guarantee and without credit rating

The loan for the housewife without credit rating with guarantee and without credit rating

Certainly there is a loan for the housewife without credit rating where the spouse does not sign. But collateral must be presented for this. Like the named second borrower or a guarantor. Someone from relatives or close friends could be taken as a guarantor. The guarantor should know that a guarantee is a great risk. If the borrower can no longer pay, the guarantor must do so. The loan for the housewife without credit rating can also be signed by a parent so that the partner does not find out about it.

However, this borrowing is not advisable, because it often happens that an unexpected event occurs and the borrowing comes to light. A problem could be foreseen here. However, if the housewife wants to surprise her partner with a larger gift and she tells him at some point, the credit for the housewife without credit rating is fine.

If a guarantor can be named, it must be solvent, have a clean schufa and a permanent position. Since banks usually strive for a joint and several guarantee, a warning is not given for a long time in the event of a loan default, and the guarantor is then immediately obliged.

However, the credit for the housewife without credit rating will not be met. The credit rating-free loans from abroad require a comprehensive income situation. The income must also be above the garnishment exemption limit. If this is not the case, there will be no schufa-free credit. The permanent employment is also unlikely to be proven, which also leads to a loan refusal.

Credit intermediaries could be involved who can still obtain a loan from a customer with a restricted credit rating. But if you do not have your own income, even a credit broker cannot procure a loan for the housewife without credit rating.

The loan from abroad

The loan from abroad

Housewife’s credit has been heavily advertised in the media since the 1970s. It is credit brokers who advertise. In the past, all of the loans came from Switzerland, but since 2010 they have come from Liechtenstein. But even this bank does not approve a loan for the housewife without credit rating under the given circumstances.

Housewife’s credit has the same conditions as other types of credit, no schufafrei. If advertising also promises something else, for example a housewife’s credit flash credit without income, it is more than misleading, one could speak of fraud here.

Many advertisements also state that a loan is also given to housewives without a credit rating if an affidavit has been made and if bankruptcy proceedings have been initiated. But that is also not legal. It is not advisable to hide this from a credit rating-free loan, since the foreign bank does not query credit rating but does take a look at the public debt register. The financial situation seen there leads to a disqualification of the lending.

If a credit rating-free loan were granted as a housewife’s credit without credit rating, the housewife would have to pay a rate of USD 105.95 for a loan of USD 3,500 for 40 months. The total loan amount is then 4,238 dollars.

The other loan

The other loan

If consumer goods such as a new television or a new washing machine are to be bought from the loan, the loan seeker, provided he is a customer of a department store, could buy the goods there. Long and good customers always get a loan there, not in cash but in products.

Proof of a credit card or bank card is often sufficient in electrical stores and goods can be bought. However, they remain the property of the dealer until they are paid for.

However, when buying in the electronics market, it should be noted that the credit rating is queried. If the credit rating is negative, the dealer cannot grant a loan either.

In summary, a loan for housewives without credit rating can be said that they are also unsuitable for a credit rating-free loan. Proof of income can usually not be provided, so other collateral must be presented. In addition to ordering a land register, this can also be a car letter from a car. In this difficult situation, however, it should be considered whether a loan is even necessary.

Instant loans for the unemployed

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Instant loans for the unemployed


Immediate loans are loans that banks pay out within two banking days when they apply online. When applying for an instant loan in branch banks, the bank transfers the funds to the account of the loan applicant immediately after the loan application has been approved.

The cash payment associated with the term “instant loan” by consumers is a rare exception today. People are unemployed if they involuntarily do not work for at least fifteen hours a week, even though they are able to start work.

Borrowing from banks

Borrowing from banks

Few online banks approve instant loans for the unemployed because the applicants concerned have low incomes. The easiest way to approve an applied for loan with a short term is if the unemployed person previously had a well-paid job and is therefore entitled to a fairly high unemployment benefit I. Another way to successfully apply for instant loans for unemployed customers is to provide a guarantor or search for a co-applicant for the desired loan.

It is not recommended to creep the loan for an unemployed applicant due to incorrect information in the loan application. These are often easily possible with online banks, because due to the short processing times for instant loans, some of them do not have to provide proof of income. Deliberately incorrect information in the loan application can not only be punished under criminal law, but also enable the bank to immediately terminate the loan when it is discovered, even if the loan installments are paid regularly.

If the sums are small, instant loans for the unemployed can often be taken out at the house bank. This is most likely to be the case if the customer is personally known to the bank’s employees, since previous customer experience can be incorporated into the creditworthiness check. A positive Credit Bureau information increases the likelihood of approval of a loan payment to an unemployed applicant.

What the unemployed pay attention to

What the unemployed pay attention to

If instant loans are offered to the unemployed in advertising, prospective borrowers carefully examine the relevant offer. Reputable providers do not charge any upfront costs, but only charge a processing fee in accordance with the legal provisions if they have actually successfully brokered the loan. It is also important that the loans taken out for unemployed borrowers are repaid as agreed.

A short-term exceeding of the due date of a repayment rate does not lead to a loan termination or a negative Credit Bureau entry, but it makes the loan more expensive due to the lawfully calculated default interest. Before borrowing from a commercial provider, unemployed people check whether the intended use of the loan falls under the recognized urgent purchases. If this is the case, the job center approves an interest-free loan.