How To Pay Off Loan Installments Fast

You have taken a loan and want to quickly repay the installments and do not know where to start? The anticipation of the installments is your right, but there are other options as well and thinking about it, Fundico has selected tips to help you in this decision:

 

How to repay the loan?

How to repay the loan?

Anticipation of installments is a right of the borrower. When opting for the operation, the interest rate of the installment is adjusted according to the payment date. This way, the customer gets a “discount” on the total effective cost (CET) of the credit. This “discount” is even greater when the anticipated installment is from last to first. Generally, to make the down payment, the customer must request a new payment slip from the financial institution.

 

Refinance remaining balance

Refinance remaining balance

One option for getting a better rate is refinancing the loan with the financial one. Trying to strike a deal where you can bargain for a better CET can also help you settle the commitment faster. Depending on the negotiation the client can make a new entry in the agreement, paying a larger amount than the new installments. This way, the next ones may be shorter, as well as the deadline for total debt settlement.

 

Foster monthly income

Foster monthly income

In addition to the anticipation and refinancing, the customer can promote their monthly income. So, with the extra money in the budget, he will have two options: save to set up a savings or use that amount to repay the loan. Now, you are wondering if the debt is worth repaying? Yes, it’s worth it! You do not have to settle the loan, you can only reduce part of what you have to pay.

 

Use the thirteenth

Use the thirteenth

In June, some companies release half of the thirteenth, depending on the segment in which they operate. If you are one of those lucky ones who have already received the advance, you have probably made plans for the amount, right? But if your planning does not include repayment of the loan, it is good to rethink. Why have one more financial commitment if you can settle the current or part of it with the benefit? Remember: badly managed debts and lack of financial planning make your debts snowball. Avoid this so as not to be red and have the name negated.

 

Use IRPF refund to pay off

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In addition to the Thirteenth, some banks allow the client to request the advance of the income tax refund. With a low interest rate, you can receive this amount as a loan and the payment will occur when the refund amount is deposited in the checking account.

Student loan is a state guaranteed loan

 

A student loan is a state-guaranteed loan. The state guarantee is granted automatically when an applicant applies for student grants. The state guarantee comes in the form of a loan, but the loan itself must be applied for by the student at the bank of their choice. The student loan government guarantee is max. USD 650 per month and around USD 800 per month for students studying abroad. Children under the age of 18 may receive a state guaranteed loan of USD 300 per month. Almost always, if a student receives a student grant or adult education allowance , he or she is entitled to a state-guaranteed student loan.

What is a student loan for?

What is a student loan for?

As a rule, the loan should be used for various educational materials such as books, computers, phones. A student loan can also be used to pay part of the rent, food or use of your own car. Each student uses the student loan in the best way they see fit.

Student loan or small loan?

Student loan or small loan?

A student loan is a matter of opinion and it is a personal matter for every student whether they want to take advantage of a state guaranteed loan or take out a small loan when they need it. Student loan costs are very moderate thanks to the state guarantee. You do not have to pay any interest at all during your studies, but you can only start repaying your loan after two years have passed.

A small loan for studying can be applied for unless the student loan is attractive. There are loan services online that lend to 18 year olds without regular income. However, it is important to borrow only as much as you need for a sufficiently long payment period.

How do I apply for a student loan?

How do I apply for a student loan?

Apply for financial aid . When applying for a student grant, you will receive a decision on the state guarantee for the student loan. After this decision, you can apply for a student loan from your own bank, for example, where you usually do business. The bank clerk will tell you more about the cost, interest and repayment of the student loan.

Unsecured Loan 500 – 3000 USD

Sure Money is a Finnish finance company established in 2012. The company currently operates not only in Finland but also in Sweden and Denmark.

Loan does not require collateral

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They provide different types of funding to individuals and companies alike. They currently provide loans of between USD 500 and USD 3000 to individuals. The loan does not require collateral or guarantors.

Easily compete with Sure Money and 30 other lenders with one application at our Good Finance. It costs nothing, and you will not be forced to take out a loan if you receive any offers.

You can take a moment to look at the offers you have and then decide whether or not to take out a loan.

Sure Money Key Information:

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  • Loan without collateral 500 – 3000 USDos
  • Domestic and reliable financial service
  • The loan age limit is 22 years
  • You can choose from 1 to 3 years as the payment period
  • Fill out the application, you will know about the loan decision almost immediately
  • You can use your loans exactly as you wish
  • Our service is completely free and risk-free
  • Once signed, the loan will be readily available to you
  • Example Calculation: For a $ 2,000 loan, the effective interest rate is 29.6% per annum, if the customer repays the loan for 12 months in monthly installments of $ 191.25. Account management fee 6,08 USD / month. The repayable amount is USD 2295.00 and the total cost of the credit is USD 295.00.

Who is the Sure Money Loan for?

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Sure Money always makes a separate loan decision for each applicant based on the information provided by the applicant. However, in order for them to accept your application, you must meet at least the following requirements:

  • You are 22 years old
  • You have no payment default entries
  • You live permanently in Finland
  • You have a steady and regular income
  • You have sufficient repayment ability and not too much previous debt

Even if you do not fully meet the requirements above or need a larger loan, it is still a good idea to apply at our service. Because we pass your application on to up to 30 lenders who have their own requirements for applicants and grant different loan amounts.

By applying at our service, you are sure to find a loan provider that suits your needs.

Borrow for any purpose

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When applying for a loan through us, you do not need to give precise explanations as to what you intend to use your loan for. You can apply for a loan and once you have it, you can use it exactly as you wish.

All loans applied for through us are unsecured and require no guarantors. This ensures fast processing of applications, allowing the applicant to get a loan decision quickly without unnecessary waiting.

An unsecured loan is suitable for a quick loan need when sudden expenses suddenly occur. They can also finance longer-term dreams, such as home renovations, buying a new car or even a vacation.

You may not be forced to save for years, but you can finance the purchase with loan money, which you then flexibly repay on a monthly basis.