Is it wise to combine loans the monthly burden can fall considerably

Whoever has several loans to his name, can sometimes no longer see the trees through the forest. What solutions are there then? You can save by merging loans.

Merging loans can be interesting. Anyone who has bought a new car on installment and is now forced to install a new kitchen may be wise to combine loans. An extra personal loan takes a substantial bite out of your monthly budget. That is why the majority of lenders in our country offer you the option of consolidating loans, or merging loans. What does that mean for you?

Merge loans – merge certain credits into one credit

Merge loans - merge certain credits into one credit

By combining loans, the monthly burden can fall considerably. After all, the Best bank allows you to merge certain credits into one credit. You can agree a new installment period in consultation with your lender. You can also decide to add the repayment of a loan to such an aggregation. In that case, the Best bank will close your credit card or reset it to 0.

But what should you pay attention to when merging loans? First of all, take the annual percentage rate into account. The posted rates may differ considerably. For example, anyone who calls on Best Bank for a grouping of loans (worth 20,000 USD) pays an annual cost percentage of 5.25 percent (over 60 months). In that case, you owe interest at 2716 USD.

Best bank charges you a 10 percent interest rate. Taking out a loan with Best Bank will save you 2,526 USD. View the rates here.

More than interest

More than interest

Although it is advisable to also take your personal situation into account. A lower rate may look good, but the purpose of a regrouping of credits is primarily to alleviate monthly repayments. If you blindly opt for the lowest interest rate, you risk that the monthly repayments hardly decrease. Therefore, also view the repayment term of the lender. This allows you to estimate perfectly whether the proposed formula fits your personal situation.

We do emphasize that the above comparison was made on the basis of posted rates. Best bank can charge you a different rate based on their calculations. That is why it is important to inform you well.


First loan free: where to get?

The first loan free of charge is probably the most sought after fast credit campaign ever. Hundreds of thousands of people have benefited from this campaign. Sometimes, even those who didn’t need the money at the time were in a hurry to use it. Such was the attractiveness of this promotion! Getting a loan for free is not a daily occurrence.

Free online loans are still available today

Free online loans are still available today

Many different lenders offer this type of stock. Probably the longest on the market this offer is offered by It was also the first creditor to launch this promotion. However, there are more than just other lenders who provide such a promotion. There are also many stocks of this type whose differences need to be understood before borrowing.

It is worth remembering that such a promotion is currently valid for instant online loans. Consumer loans have no similar shares and have not yet had. However, even in the case of quick loans, they are not granted without exception. In most cases, they are not limited to the first credit but also to credits up to $ 1,000.

This means that you can get a loan for free only if you borrow no more than a set amount and for no longer than the term (often only up to 3 months). Therefore, before you are happy to find such a promotion, make sure that the online loan offered is suitable for your needs and that the loan repayment terms are right for you.

But before analyzing these differences, let’s answer the obvious question: Where’s the hook? You probably haven’t thought about this one. Lenders offer loans for free. After all, there must be somewhere the benefits a lender can get from such a non-interest bearing loan (because that’s the only thing he gets out of!). Otherwise, who should give the first loan for free? There are no large hooks, but it is still worth checking out.

Why are there free loans?

Why are there free loans?

First, you may think that there is some obvious hook. Somehow, the lender still pulls money from the client. After all, no one borrows money for nothing?! Especially since instant loans are known as one of the most expensive on the market.

We will reassure you: no one will really make any money out of your money by any means. The first loan is free of charge on virtually identical terms and conditions to the other instant credits. There are no secrets and no hidden details here.

So why are you getting free credits? The reason for this is very simple. There is fierce competition in this market. There are many creditors and the number of borrowers is stable. That’s why everyone wants to attract as many potential new customers as they can. There are many ways to do this. Advertising through different channels, improving the site in an effort to attract customers with the convenience of their own page, and various promotions. But that still doesn’t answer the basic question: What’s the benefit to a lender of lending money and not getting a penny of interest?

There are certainly no direct benefits here. But her creditors are not looking. The first loan is free because the customer is expected to get used to their services. The creditor expects the customer, once borrowed once free, to return to the same creditor to borrow again. He may no longer want to fill in new registration forms and get used to the system or other conditions. Then he will definitely choose the creditor whose services he has already tried. Therefore, while such a share does not bring direct financial benefits, it may pay off in the future. Especially since it costs the lender just as much.

However, there is a second reason for granting such a promotion. Free interest-free loans provide customer contacts. Therefore, even if such a customer does not borrow again from the same creditor in the future, the benefit to him may remain. He may inform such customers directly of any new promotions or offers. And this is very valuable. Especially when it comes to sms credits, which provide very important information about a customer – his or her phone number.

Let’s not forget that at the very beginning the creditors paid twenty dollars even for registration! All he had to do was recommend the man, send him a special link, and he just got paid for his registration! As you can see, contact with creditors is really valuable. That’s why the first credit is offered for free, partly for this reason. Even if you fail to earn it right away, you are hoping to do it more effectively in the future.

What are free credit promotions?

What are free credit promotions?

It may appear that there is only one type of free loan promotion. How can different promotions be? If the interest-free loan is the way it is, it is free, and you will not think of anything else here. But the reality is quite different. There are even several promotions of this type.

One of the best known to everyone is the promotion, known as the first credit for free. There is probably not much to talk about. For the first time, a lender can get a quick credit and pay no interest or other fees. How much you borrow – you will pay back. Everything is as simple as two to two.

This is the best possible promotion of its kind. Other promotions are similar and not bad, but not equal to this. There is a so-called free loan campaign where the loan is given for free but only for a limited period. Borrowing interest may not require payment for a set period of time, but after that, interest will have to be paid, as is the case with everyone. This is a partial free loan because it can only be paid for the first few months – at best.

Another similar thing found in the market – online credits without registration fee. These are regular credits that simply do not require you to pay for registration, which can sometimes be quite expensive. Although not comparable to a free loan, people often look for such loans for one reason or another.

There are other similar types of shares, but they are so specific that it’s not worth talking about. But perhaps it’s worth noting that if you are unemployed looking for an unemployed loan, then your best chance is to get an interest-free loan. Such an interest-free loan is simply the safest thing to do, as there is the greatest chance that it will be repaid on time. Although loan refinancing could also be mentioned as an option for such a loan.

It is never to be forgotten that the first credit is not given free of charge to anyone on any terms. Although you will only have to repay the borrowed interest-free amount, the free loan must still be granted in accordance with the law. And they tell you what customers can’t lend without any major exceptions. Therefore, if, say, you are in debt, it is advisable to look not at getting a loan for free but at reducing your debt. Perhaps the aforementioned refinancing would also help here.

Government Agency loan calculation installment simulation

Loans installment calculation the procedure to be followed

Loans installment calculation the procedure to be followed

Are you a public employee or pensioner and would you like to apply for a subsidized Social Institute ex Government Agency loan? In this article you will find out how to calculate the installment using the Government Agency loan simulation installment services available on the official Social Institute website. This way you can evaluate the offer before submitting the request.

Before reviewing the various steps to follow for calculating Government Agency loan simulation installment it is necessary to make a clarification. The service we are going to illustrate refers only to direct Social Institute ex Government Agency loans, i.e. granted by Social Institute. It is therefore not possible to use the Government Agency loan simulation installment services for the calculation of loans granted by banks and financial institutions in agreement with the social security institution.

Social Institute loan simulation service

Social Institute loan simulation service

The Government Agency loan simulation installment service is accessible to all users and does not require logging in with Pin Social Institute. To reach it, you need to connect to the Social site and follow the path: “Home – All Services – Public Employee Management: simulation of small loan and multi-year loan calculation”.

The service is aimed at subjects belonging to the Social Institute ex Government Agency Management who are registered in the Unitary Management of credit and social services (Social Institute Credit Fund).

The service offers the user three calculation methods: Loan Simulation; Loan Simulation for Ideal Installment; Loan Simulation for Specific Amount. It is in fact possible to choose whether to carry out a generic or more specific simulation.

In any case, the simulator offers the user all the Social Institute loans ex Government Agency accessible to him on the basis of the data entered. The service therefore offers both small loan and multi-year loan solutions. For each proposed loan, Social Institute indicates all the items of expenditure that contribute to the definition of the net loan.

Example of simulation of small Social Institute loan for civil servants

Example of simulation of small Social Institute loan for civil servants

But let’s take an example of simulating Social Institute loans ex Government Agency. Let’s assume that a civil servant wishes to obtain a small loan with an amount of 7 thousand USD. To find the financing that best meets your needs, we choose to do a simulation for a specific amount.

For the simulation it is necessary to insert in the calculation form the net salary, the date of birth of the applicant and the desired amount. In this regard, we hypothesized that to apply for funding is an employee born on 10 May 1980 and with a net monthly salary of 1200 USD.

Under these conditions, the system offers us two solutions for small loans. The first provides for a three-year term, while in the second case we have a repayment period of four years. In both cases the interest rate is fixed at 4.25%. By opting for the three-year loan we have a monthly installment of 207.20 USD while for the four-year loan the installment to be paid is 158.58 USD.