The Best Online Loan Rates Fri, 24 Jul 2020 07:37:26 +0000 en-US hourly 1 Loan for Portia apartment – why does the bank refuse? Wed, 18 Dec 2019 16:24:55 +0000 To obtain a loan for an apartment in Kolbuszowa , a loan for an apartment in Portia or other places, you must meet a number of conditions. If something is wrong, the bank has the right to refuse a loan and usually does. What situations are we talking about?

Refusal to grant a loan – monthly income is of great importance!

Refusal to grant a loan - monthly income is of great importance!

The bank (or other financial institution) refuses to grant a mortgage (and not only) in cases of creditworthiness. This decision may be influenced by too high calculated loan installment (in the case of a loan for an apartment, this amount often exceeds PLN 1,000).

If the installment exceeds 50% or 65% (the threshold recommended by the Polish Financial Supervision Authority) of monthly income, this eliminates the chance for a positive consideration of the application. Perhaps you are surprised that you did not receive a loan, and a colleague with a lower salary, yes.

The bank takes into account not only the installment, but all liabilities. Perhaps you have other loans or expensive car maintenance, or high fees for your current flat.

Other liabilities at banks? Think about consolidation!


Perhaps the obstacle to getting a loan are other financial liabilities to banks or financial institutions. It will be difficult to pay them off immediately, but you can think about consolidating them.

Portia consolidation – what is it? You can learn the details by reading one of our articles: Portia / consolidation-Portia-really-pays-check /. This is, in many cases, a beneficial solution, so you should consider them.

Employment contract – is this a decisive factor?

And yes and no – it all depends on the policy of the facility where you apply for a Portia mortgage or other type of loan. It seems that the worst situation is people running a business – including the prosperous one. Many certificates and documents are required of them, which becomes cumbersome and often discourages from taking a loan. In many branches it is appreciated that the business activity has been conducted for at least a year or even two. It should be noted that for activities based mainly on cooperation with the former employer, a period of 6 or 9 months is accepted). It is important that in the case of full-time work experience was at least 3 or 6 months.

Loan for Portia apartment – take it with us!

Are you interested in a loan for a Portia apartment or other location? You’ve come to the right place! We are a company that provides mortgage and cash loans on very favorable terms. We trust our clients, which is why we limit formalities to a minimum. We accept various forms of income – you do not have to have a permanent contract. You are interested in? Familiarize yourself with our offer (mortgage details) and contact your representative.

Getting the Best Loan Rates With BridgePayday Fri, 13 Dec 2019 07:37:09 +0000 Online loan rates with provide the most competitive loan rates available anywhere on the Internet. The staff at this site is friendly and knowledgeable, and the terms and conditions of the loan are clear and easy to understand. This is the kind of site where you can go to get a low rate, get paid to get a loan and continue your other business while the money is on the way.

Advantages of getting a loan through Bridgepayday

There are many advantages to getting a loan through a company such as this one. This site offers money to those who don’t have a lot of money and getting a loan at these special rates makes their work much easier.

Many people will look for a loan before they even start looking for a home, and this site is one of the first places that they will turn to when they need money fast. This makes it a very popular site. If you use a site like this, you will get some great rates.

Getting a loan with a company like this is quite easy

This site will take your information and will send it to many lenders who offer a wide range of loans. After you fill out a form, the site will tell you how much money you qualify for.

Once you know the amount that you qualify for, it’s time to find the lender that offers the best rates. Many lenders with loan sites will use the Web site, so make sure you pick a lender that has a site that suits your needs. You want to make sure that you are comparing apples to apples.

Some lenders will advertise lower rates and offers for a specific type of loan, but those lower interest rates won’t always be the lowest interest rates. A good idea is to do your research on all the different lenders, and then choose the one that provides the lowest rate for your personal loan. It is very important to understand the different terms of the different types of loans that you are considering.

You should know that you will need to put up at least 10% of your first month’s salary as a deposit to get the loan started. This is a small amount, but it will be used to pay off some of the interest that you’ll be paying on the loan in the future. It will be gone from your bank account quickly, but it is a risk that you are taking in order to get the best rates for your loan.

It is also important to remember that if you are doing a personal loan, there are no fees, and no down payment required. You don’t need to have a lot of money in the bank to get the best rate. It doesn’t matter how big or small your financial situation is, if you apply with a lender that offers the best rates, you will be able to get the loan that you need and want.

Getting the best rates for your loan is simple

You just need to do your research, compare the different offers and options, and then choose the lender that will give you the best deal. You can get quick approval, and the best rates possible when you apply online for a personal loan.

Most lenders will give you the lowest rates and terms that you can find on the market today. If you can’t get a personal loan from any lender, you should consider using a mortgage company that offers loan rates that are competitive with many other companies. This will help you keep your credit rating strong and your credit card bill low, which is essential when trying to buy a house in today’s economic climate.

By shopping around and applying with the best companies you can find, you can get competitive rates and terms that will help you get your finances back on track and stay out of debt for the rest of your life. With all the interest rates being so high these days, and with the possibility of a new recession coming, you need to be smart and take advantage of the opportunity that is present to you. in these times.

Registration on payday loan pages Sat, 07 Sep 2019 04:06:14 +0000 Registration in the lender’s system is a compulsory stage in applying for payday loans. The procedure is combined with completing the online application, so it only takes a few minutes. All you have to do is provide the necessary details (including phone number and e-mail address) and send your application. Then we will receive an email and an SMS with a code or password, which must be entered in the field indicated by the lender on the website. In this way, we finish registration and gain access to our individual customer profile.

Customer profile – what is this for?

payday loan

The most important reason for creating a customer profile on a non-banking company website is the ability to manage the payday loan yourself. From the account level, we can control the repayment date of the loan or extend the time for donating money. We can also change, e.g. address, account number, telephone number or other data that will be modified during the term of the contract – so we do not have to waste time contacting the Customer Service. The customer profile is also used to apply for another payday loan – of course, when we repay the previous one (at the same time we can have only one loan activated). The customer profile also shows rebates awarded as part of the loyalty program (if the lender does so).

Registration and refusal

loan application

It is worth remembering one thing – registering in the loan company system and creating your own user account is not tantamount to granting payday pay. So what happens to the profile when the lender negatively examines our application? When we receive a negative decision, our account will be deleted. This is a mandatory step on the part of a non-banking company, because it has no right to use our data, since we are ultimately not its customer. This results from the Act on the protection of personal data, according to which the lender must take all actions necessary so that our data does not fall into the wrong hands, and thus – they are not modified, lost or used unlawfully.

Registration on the pages of the payday loans step by step

register payday loan

Wisemen Credit portal has prepared a video advice section for you – How to take loans online. Over time, the website will be enriched with further instructional videos from the registration process on the websites of loan companies. See how easy it is to register at Monga, Register at Get Credit or Register at VAVUS.

Financing a heat pump: what about it? Wed, 14 Aug 2019 14:38:20 +0000 Nearly 1.5 million homes need to get rid of gas in the next ten years, says the Climate Agreement. A heat pump comes into the picture for many people. This means large investments in insulation for older houses. Good insulation is really necessary for the commissioning of a heat pump. A heat pump is a major investment. How do you finance this? Read it in this blog.

Purchase heat pump: what do you have to meet?

Purchase heat pump: what do you have to meet?

In general, a house for a heat pump must be well insulated. In the case of a hybrid heat pump, cavity, floor and roof insulation and HR ++ glass are required. For an all-electric heat pump more – your house must then be insulated to a minimum energy label B.

Do you have a house that was built before 1995? Then there is a good chance that a larger investment is needed, including floor insulation and HR ++ glass, to be able to purchase a heat pump.

There are two types of heat pumps: a hybrid heat pump and an all-electric heat pump. A hybrid heat pump costs between € 3,500 and € 5,000 (source: Credit Central), including installation, excluding central heating boiler. For an all-electric heat pump you pay between € 6,000 and € 20,000 (source: Credit Central), including installation. All in all a substantial investment.

Financing the heat pump

Financing the heat pump

There are various ways to finance energy-saving measures. In this blog about borrowing money to save energy, you can read more about how you can work best. For example, you can finance a heat pump by taking out a loan.

If you want to borrow money to save energy, a personal payday loan offers a solution for homeowners . Borrowing money for a heat pump is more than worth the investment. Moreover, with a personal payday loan you also enjoy a tax benefit. Another advantage is that a personal payday loan often has a shorter duration than a second mortgage and you do not have to go to the notary as when taking out a second mortgage.

Want to know more about how you can finance your heat pump? Contact one of our credit specialists.

Financial Ombudsman – an institution established Mon, 08 Jul 2019 15:23:16 +0000 Insurance Ombudsman (Financial Ombudsman) – an institution established to support clients in potential disputes with entities operating on the financial market.

Insurance Ombudsman


Insurance Ombudsman helps, among others in matters related to counseling, investments, arbitration, and also provides support during court proceedings. Insurance Ombudsman has legal personality. Currently, this function is exercised by term of office for the years 2015-2019. The seat of the Insurance Ombudsman is located in Warsaw.

The Institution of the Insurance Ombudsman is in force pursuant to the Act of 5 August 2015 on handling complaints by financial market entities and on the Financial Ombudsman.

The Insurance Ombudsman is appointed by the prime minister on the application submitted by the minister for financial institutions. The RU’s term of office should last four years. One person may hold the position of the Insurance Ombudsman for a maximum of two terms.

Who can become an Insurance Ombudsman

The Act on dealing with complaints by financial market entities and on the Financial Ombudsman shows that a person who:

  • has a distinctive knowledge related to the functioning of the financial market and legal regulations that create its environment, and also has a minimum of seven years of experience in this field,
  • has a university degree,
  • can enjoy full public rights,
  • has Polish citizenship,
  • she has not been sentenced by a valid sentence for an intentional offense.

It follows from the same act that a person can not be appointed to the position of the Ombudsman:

  • occupies a different position (does not apply to research-teaching or research positions at the university),
  • belongs to any political party,
  • is a shareholder, shareholder, member of the authorities or performs the duties of a member of the management board or supervisory board of financial market entities,
  • performs other activities which are inconsistent with the Ombudsman’s duties or may give rise to suspicion about his bias or interest,
  • conducts public activity incompatible with the duties and dignity of the office.
What is a personal loan? Wed, 03 Jul 2019 05:23:10 +0000

In which cases can one contract this kind of credit? What are the possible limits of this device? Zoom on a widespread practice.

The personal loan falls into the category of consumer credit. Like all borrowing operations, this initiative has a cost: it depends on the rate that applies, hence the interest of performing several simulations before making its decision. The comparison between two offers of credit is relatively simple: usually, it is recommended to look at the APR (annual percentage rate of charge). The latter includes all mandatory fees and interest.

On a personal loan, the rate is fixed. In this sense, the amount of monthly repayment and duration are predefined elements, which makes it easy to project. It is important to note that the longer a repayment period is, the more expensive the transaction will be. Without getting in trouble, it remains best to make short loans.

Better understand the personal loan:

  • All the right reasons to choose Credilend for your next personal loan
  • Some useful tips before embarking on a personal loan



You make a request based on the amount you need and the duration, and you receive a response as soon as possible!

To obtain a personal loan onlineyou have to start by doing a simulation and then send your application file. You will be asked for proof to prove your identity, your domiciliation but also your income. Indeed, a loan costs money, the lending agency is entitled to make sure that you have the required repayment capacity (especially when you place on large sums). In principle, this credit is appreciated because it does not require proof of expenses. In short, customers do not need to say why they borrow, they have money as they wish, they plan a wedding, a big party, the purchase of high-tech equipment, the choice of a new car or any other dream to come true.

Interested in buying time with the personal loan online?

  • How to get a personal loan online at the best rate?
  • Should I opt for a personal loan online or a pool of credits?
  • A marriage? Save time and comfort with the personal loan online.

Consumers often wish to take out a personal loan without proof

This approach is possible, provided you understand the evidence that an organization can ask you, and those that you can do without!

A personal loan without proofis always possible. But you have to understand that when you talk about this practice, you simply mean that consumers do not have to explain why they need such a large amount of money. For example, when borrowing to finance a vehicle, there is no obligation to transmit the invoice of the car garage to the credit organization. Similarly, you can ask for a loan without expressing any reason whatsoever. However, proof is still necessary to consolidate the file and ensure its repayment capacity. In this sense, a serious loan company will necessarily require an identity document, papers that attest to your latest income and documents related to your other loans (if any).

How to find a suitable loan broker Thu, 27 Jun 2019 15:34:06 +0000 The credit intermediary selects a suitable provider for you, arranges favorable terms with it, and then you come to the ready. You don’t have to compare offers from different banking and non-banking institutions, and you can be sure that an expert will do it for you.

The easiest way to do this is to contact a financial adviser. You can also find various advertisements on the Internet and also on posters near public transport stops. But avoid it in principle and always look for reviews on the Internet .

An honest broker will help you make a bargain loan

An honest broker will help you make a bargain loan

According to the Safe Credit Navigator survey, reported by, intermediaries are often approached by people who realize they could fly usurers.
This is exactly what an honest broker should offer. It works only with proven providers and you do not have to worry about getting into the clutches of the loan predator.

Trust, but check

Even in this field, however, there are many fraudsters who are looking for profit at any cost and a non-bank loan can cost you a lot. According to the NBU, you will pay up to five thousand crowns for the services of an intermediary, which, with an average loan of CZK 50,000, makes a tenth of the extra amount.

Rogue intermediaries often use three other tricks. At least two of them will reveal themselves in the contract, so do not underestimate its reading.

Trick # 1: They’re counting on not reading the contract

Intermediaries are approached by people who are afraid they may not understand the credit agreement. They assume that if they hire an expert, they get an advantageous loan without having to read stacks of papers. It is this approach that fraudsters bet. If their customers do not want to read contracts, they will most likely not read the one they sign with them. It is usually full of various loops.

Trick # 2: Services end with applying

Consolidation Loan

This trick is closely linked to the first. If you merely flip your eyes with the broker, you may also sign that the broker does not guarantee the loan.
The job of an intermediary, for which you have paid several thousand, is simply to apply for a loan. It is also a common practice for an intermediary to submit an application in such a amount that it is clear in advance that your application will not pass. However, according to the contract, he has already done his job and is entitled to a reward.

Trick # 3: They cooperate with usurers or are themselves

It is not uncommon for a dishonest intermediary to cooperate with a dishonest creditor. In some cases, it is even the same person, and you pay unnecessarily twice. In addition, your non-bank loan can be quite disadvantageous. This tactic is most often used by moneylenders who want to give the customers an impression of solidity.

Do you really need it?
We think that intermediary services are often unnecessary. Verified lenders will be happy to provide you with several easy-to-understand bidding options, and the contract will go through sentence by sentence.
However, if you still need a broker, choose one that doesn’t require prepay. Do not avoid reading the contract for your own safety.

The amount is tax free PIT and tax threshold 2019 Sat, 22 Jun 2019 15:31:17 +0000 The most popular solution among taxpayers is taxation of earned amounts on the basis of the so-called tax scale. Although the tax thresholds remain unchanged in 2019, citizens can pay a lower amount of taxes as a result of increasing the tax-free amount.

The tax threshold: what is it and how much is it in 2019?

The tax threshold: what is it and how much is it in 2019?

The tax threshold is the amount that the taxpayer should know when making a settlement with the tax office. It is established at the state level and is divided into two basic groups:

  • The first tax threshold is 18%;
  • The second tax threshold of 2019 is 32% (it applies only to those taxpayers whose earnings during the year exceeded PLN 85 528 and include only the amount that exceeds this limit.

An example of taxing a person on general terms who earned PLN 150,000 a year.

In this case, the tax amount will be settled on such rules:

  • Income in the amount of PLN 85 528 will be taxed on the basis of the first tax threshold, thus:

PLN 85 528 * 18 % = PLN 15 395.04

  • The surplus of income in a given case is PLN 64 472 (PLN 150,000 – PLN 85 528).
  • Excess tax will be calculated on the basis of the following formula:

PLN 64,472 * 32% = PLN 20,631.04

  • In the analyzed case, the total tax amount will therefore amount to PLN 36026.08

PLN 15 395.04 + PLN 20,311.04 = PLN 360,268

As evidenced by the calculations presented above: for taxpayers whose wages exceed the amount of PLN 85,528 applied in Poland, taxation based on the tax scale can not be considered beneficial. An alternative solution in this case may be the transition to taxation on the basis of flat tax 2019.

What is a tax-free amount?

What is a tax-free amount?

The tax-free amount, also known as the amount of tax-free income, is a monetary amount that does not require you to pay income tax. Such amount is one of the important elements of the tax system, and its legal basis is primarily the Act of July 26, 1991 on personal income tax.

Every year, the Ministry of Finance verifies the amount exempt from tax, and from the moment of Poland’s accession to the European Union, some citizens also compare this amount with amounts established in other countries of the community. Nevertheless, this approach is wrong, if only because in many European countries the tax-free amount is reduced for people bringing up children, and in Poland when paying insurance premiums, the income tax due 2019 and income subject to taxation are also reduced.

Nevertheless, we will provide below a comparison of tax-reducing amounts in Poland and some EU countries.

What will the tax-free amount be in 2019?

What will the tax-free amount be in 2019?

The basis for tax collection in the form of a tax scale was determined by Article 27 of the Income Tax Act. According to Polish law, the 2019 tax scale has a two-stage shape and is applied on an equal basis to all citizens of the country.

Amount of income Tax rate Calculation
Up to PLN 85 528 18% Minus 100% of the amount that reduces tax
Over PLN 85 528 PLN 15394.04 + 32% of the surplus from PLN 85,528 Minus 100% of the amount that reduces tax

As can be seen from the attached table, if the earnings of a given person do not exceed PLN 85,528, they are taxed at the rate of 18%. The sum of the tax is further reduced by the amount that reduces the tax, the value of which will be analyzed further. In the case of higher earnings, the tax will amount to 32% (it is calculated not on total earned money, but only on that amount which exceeds the limit in PLN 85 528).

Who has the right to pay a smaller tax in 2019?

The tax-free amount in Poland increases year by year, as evidenced by the chart below.

In 2019, the following situation will occur:

  • A taxpayer whose earnings did not exceed PLN 8,000 will not pay tax;
  • In the case of income in the range of PLN 8,000-13000, the tax-free amount will amount to PLN 8,000-3091 (settlements will be made on the basis of the principle of degression, so the tax-free amount will be the higher the smaller the income we will have;
  • The tax-free amount of PLN 3091 is payable to persons whose income exceeds PLN 13,000 and, at the same time, does not exceed the limit of PLN 85,528;
  • The smallest tax-free amount in the amount from PLN 3091 to PLN 1 is payable to people whose wages range from PLN 85 529 to PLN 127,000.

Accordingly, the tax-free amount is not payable to people who earn over PLN 127,000.

Amount reducing tax: how much will it be in 2019?

The legal basis for determining the amount that reduces the tax is the Personal Income Tax Act, which entered into force on July 26, 1991. According to the plans for 2019, the situation will look as follows:

  • In the case of income not exceeding PLN 8,000 – PLN 1440;
  • For persons who have earned an amount of PLN 8,000-13000, the amount reducing the tax is calculated on the basis of the following formula:

PLN 1440 – (PLN 883.98 × (basis for calculating the tax – PLN 8,000) – PLN 5,000)

  • In the case of earnings between PLN 13,000 and PLN 85,528, the tax reduction amount is PLN 556.02;
  • If the earnings range between PLN 85 528 and PLN 127 000, the tax reduction amount is calculated on the basis of the following formula:

556,02 × ((basis for calculating the tax – PLN 85 528) ÷ PLN 41 472)

Examples of calculating the tax-free amount

Example 1. In 2018, the employee jointly received 18.000 PLN gross income. The net amount in this case will amount to PLN 12,000 (we deduct the amounts of Social Security contributions and income and rehabilitation relief). Then the amount of tax will amount to PLN 1,717.18. It is worth adding that from the given amount you also have to deduct 7.75% – this is the amount that is charged to various types of deductions deducted from tax and health insurance. Example 2. The amount of earnings of a tax payer in 2018 amounted to PLN 50,000 gross. From this amount, we should deduct revenues, the amount of contributions collected in favor of ZUS and the amount of the so-called rehabilitation discount. As a result of making such settlements, we will see that the taxed amount is PLN 34,000.09. We round it up to PLN 34,000 and a tax will be calculated, which will amount to PLN 5563.98 (PLN 34,000 x 0.18 – PLN 556.02).

Making such calculations on an independent basis is quite a difficult task, as a result of which taxpayers increasingly use for this purpose calculators (including income tax calculator 2019), which automatically calculate the amount of tax in the automatic mode and allow in a few seconds to know what amount will be released from tax in 2019.

How is the tax-free amount settled?

According to the Polish legislation, when settling the tax-free amount, sources of income are not taken into account (only if they are taxed according to the tax scale for 2019). In addition, it is also granted to self-employed persons, and in the case of a combination of several forms of taxation, the tax-free amount can only be applied once.

Read also: How to calculate income tax?

Why not 3089 and 3091 PLN?

By settling the tax-free amount, we can come across an interesting situation. Namely, earning PLN 3089 and paying taxes at 18% rate, we should pay equally 556.02 PLN tax. Well, let’s settle:

3089 – 556.02 = 2532.98

2532.98 +556.02 = 3089.

Everything is correct!

Now let’s look at what the situation will look like when the earnings will amount to PLN 3091.

3091 – 556.02 = 2534.98

2532.98 + 556.02 = 3089.

Why will not the zero tax result appear in the second case? The whole thing is that when calculating the tax-free amount, the so-called rounding principle works, according to which the tax and tax base should be rounded up to full zlotys:

  • At the amount of PLN 0.01 or less, rounding down to full zlotys takes place;
  • At the amount of PLN 0.01 or more, rounding up to full zloty up.

Accordingly, if you receive an income of PLN 3091, you will not pay tax, although in reality it amounts to PLN 0.30.

Tax-free amount and its combination with other tax benefits

Tax-free amount and its combination with other tax benefits

With the introduction of a new tax-free amount in 2019, taxpayers have not lost their right to use other tax concessions at the same time. They are various reliefs that can exist in various forms. The basic examples of this kind of relief are given in the table below.

Type of relief Max deduction Deklarcje
ZUS contributions for a taxpayer or cooperating person In the amount of contributions paid or collected in 2018 PIT-28, PIT-36, PIT-36L, PIT-37
Relief on the car PLN 2,280 PIT-28, PIT-36, PIT-37
Church donations 6% of the income of the tax payer PIT-28, PIT-36, PIT-37
Donations for social organizations 6% of the income of the tax payer PIT-28, PIT-36, PIT-37
Blood donor 6% of the income of the tax payer PIT-28, PIT-36, PIT-37
Internet PLN 760 PIT-28, PIT-36, PIT-37
Relief for medicines The cost of medicines minus PLN 100 per month PIT-28, PIT-36, PIT-37
Relief for rehabilitation equipment The amount of expenses incurred PIT-28, PIT-36, PIT-37

Tax-free amount if settled by spouses

Tax-free amount if settled by spouses

The tax, if it is paid by the spouses, is determined from 50% of the amount of income obtained jointly by them. The amount of reliefs that each spouse is entitled to should be deducted from this amount.

So how do you act in the most logical way in situations where the husband / wife did not earn any amount during the year or when one of the people earning in the family settles on the basis of 32% taxation and the other 18%? Experts advise to then settle together: in this way, you will not only pay tax 2019 on the basis of a lower range of the tax scale, but also maximally reduce the common income by obtaining the right to use a high amount to reduce the tax.

There are also cases when it is not profitable to settle taxes together:

  • When one of the members of the marriage did not earn more than PLN 8,000 during the accounting year;
  • When profits of one of the members of the marriage range between 13001-85 528 PLN.

In the case of self-settlement in the described situation, the spouses pay a total of PLN 1 016.02 less tax (PLN 1440 and PLN 556.02 respectively).

At the same time, a joint settlement will result in a larger amount being paid, which can be verified on the basis of a specific example. When one spouse earns PLN 5,000 and the other PLN 40,000, their total income is PLN 45,000 or PLN 21,500 with equal distribution for each spouse. Correspondingly, the earnings of each of them go to the group in which the free tax amount is PLN 556.02, i.e. the group that earns over PLN 13,000. In the case of joint settlement, the tax-free amount will be PLN 1104.04 (PLN 556.02 + PLN 556.02), while a separate settlement allows to increase this amount, namely it will amount to PLN 556.02 + PLN1440 = PLN 1,066.02. Well, the size of the loss in the case of a joint settlement is PLN 883.98.

Summing up, it can be added that although it may seem that the tax-free amount is lower than in other European Union countries, in fact tax payers have quite good tax reductions of their income, because the amount reducing tax in Poland is usually combined with other types relief.

The more different discounts we use, the lower the amount of our earnings and the greater the tax reduction amount. Accordingly, the lower will be the income tax, which we will have to pay.


Loans in general Sat, 08 Jun 2019 15:56:30 +0000 A world that everyone can get into. There are a number of situations in life that cannot be solved in any other way than by a loan – whatever the extent. Let us therefore explain the basic concepts of loans and let’s also give some advice to follow to make the loan really fair and profitable.

Nothing is obvious as it seems at first glance. Obviously, an exaggerated advertising campaign does not mean that a loan will be a truly attractive matter worth paying any attention at all.

In fact, a loan is not an easy thing at all

You have to think about it carefully and consider it, otherwise you can easily burn yourself and lose money. Being able to assess the advantage or disadvantage of a given offer can be done without a university degree in economics, sometimes you just need to know what certain terms or abbreviations mean. Sometimes they come from Latin or other – somewhat non-standard languages ​​today – but they speak really clear language.

Actually, as old as humanity itself

The loan is something that technically existed even before the introduction of metal or paper money of all kinds, it was commonly traded, for example, with metal sheets (copper, silver), the Slavic world knew the term “canvas”, a piece of cloth meaning cash. In ancient times it was quite common to borrow seeds, but also agricultural tools, horses, everyday items – always for some specific consideration in kind.

A revolutionary innovation was the banks, which in modern form appeared for the first time in Italy, although to some extent knew the ancient world. The mediaeval period was able to define very well terms such as “loan” or “interest”, but also “real estate collateral”.

Loans that were provided by means of paper money are known to Europe in the early modern period. At the time of Renaissance magnates who wanted to value and safely store their property, the commercial banking system flourished. In contrast to the cash or valuables presented, the document we now know the “shares”, “bonds” or, for example, “bills of exchange” was issued to nobles or rich burghers in financial institutions.

Feel free to learn from history

It is true that not every loan can be profitable, not every one is also completely transparent. This was true even in the long centuries and millennia of European and world history. And it is precisely from some historical events that we must learn to avoid them in the modern era. Of course, this also applies to the loan world, which is still governed by clear rules. Those who want to borrow without risk must know similar recommendations in advance, because it is clear that no later complaints need to be taken into account.

With no upfront fees, it is now a principle for anyone who wants to borrow and does not want to be cheated. The terms and conditions must be clearly defined and, in case of doubt, explained very carefully. There is also interest, the amount of which is really meaningless – a usury, which you should of course avoid in your own interest. If you follow these few principles, a fair loan agreement may be coming soon. Let’s explain some basic concepts around the world of loans.