Payday Loan: credit during parental leave

A cheap loan is hard to find during parental leave, so anticipating borrowing at the beginning of the pregnancy is ideal. In this case expectant parents pay attention to low rates, so that they can settle even during the receipt of parental allowance without difficulty.

Parents like to avoid applying for a bank loan during parental leave by making installment payments directly at the point of purchase. This is not least due to the favorable interest rates offered by most retailers. However, the retail payment installment agreement can easily lead to additional costs if competitors without a point-of-sale option sell the same products at much lower prices.

The recognition of parental allowance as income

Parental allowance is paid for a limited period of time and is therefore not considered by most credit institutions to be a relevant source of income when making the application. After receiving the parental benefit, however, the claim is to resume full employment. It is unpredictable, however, whether the loan seeker actually makes use of it, or in future prefers a part-time employment relationship, or at times looks after the child exclusively. The chances of obtaining a loan during parental leave increase if the applicant can show the bank an agreement with the company about the subsequent assignment. In addition, one of the preconditions is to choose one of the few credit banks whose parental allowance is included in the budget.

Couples apply for a loan during parental leave, either jointly or on their own, by the one who works without restriction at the time of application. Single parents can also ask their former partner for help with borrowing in the form of a two-letter loan application. Other conceivable co-borrowers are the child’s grandparents. One limitation in choosing a bank of credit is that few banks accept credit applications submitted by two people only if they live in the same household. A guarantee instead of the co-application is conceivable, but is rather cautiously accepted by banks. The reason for this is that courts often rate private credit guarantees as not valid,

When direct bank borrowing encounters difficulties, young parents hire a trusted intermediary to look for a loan during parental leave. The service provider has excellent contacts as well as comprehensive market information. In addition, it bundles a large demand for credit, so that in most cases it can successfully convey the desired installment loan during parental leave. Parents hire a credit intermediary if they do not charge any initial costs, but only a reasonable performance fee.

Pay attention to low rates and flexible repayment

Unplanned additional expenses are almost certain for young parents. To deny them, the rates of credit taken during parental leave should not be excessive. The choice of the longest possible repayment term together with the associated low monthly installments is even more attractive for a loan during parental leave than for other consumer loans. If the loan agreement provides for the right to special repayments without charging a prepayment penalty, in the absence of additional expenditure, parents pay special repayments to the credit account so that they settle earlier than originally planned. Another advantage of the allowed special repayments without cost calculation is the possibility of a replacement of the current loan by a cheaper loan,

The contractually regulated eligibility for an occasional break in pensions makes it possible to settle the loan installments during parental leave, even at high additional expenses. An alternative to this is a clause in the loan agreement, according to which the bank will accept a later modification of the repayment plan on customer request binding. Less meaningful are customer reports about the voluntary and favorable approach of the financial institutions to corresponding customer requests. Although these are predominantly true, there is no guarantee that the current goodwill rules will be upheld.

The main criterion when choosing a specific bank loan during parental leave is the most effective annual interest rate possible. A cheap loan can be found by parents by conducting a thorough credit comparison easy to carry out online.

The personal loan during parental leave

The personal loan during parental leave

It is easier than a bank loan to take out a private loan during parental leave. The minimum entitlements to the current income are significantly lower on the online credit exchanges than with banks, and recognition of all income components, including the parental allowance, is common.

The inclusion as a loan seeker is the first step on the online loan exchanges to the desired loan. In addition, it is required that a specific loan request is drawn by one or more lenders. The members of the private lending exchanges as investors take into account a great deal of social criteria in their decisions more than traditional creditworthiness features and agree to a desired loan during parental leave very quickly. The likelihood of earning money quickly increases when the parents describe as accurately as possible which purchase they would like to finance with the personal loan requested.

Simulation of the payday loan: quote with updated rates


Payday loans Government Agency: why choose them, installments and how to move between 4 types

Payday loans Government Agency: why choose them, installments and how to move between 4 types

Government Agency loans are particular products for employees and retirees in the public sector. It is good to underline that if you are willing to contact the Government Agency to request information on these loans, this will not be possible because the institution has been deleted for several years. The management of these particular loans has therefore passed to the (Social Institute). It is to the latter that we will therefore have to turn to request Payday loans, which we will discuss in this article.

This form of financing is very useful for coping with expenses of any kind, as it will not be necessary to specify the purpose of the same. The small loan Social Institute ex Government Agency is a form of financing based on the so-called sale of the fifth. The advantages of this special treatment are well known, and concern both the convenience of payment of installments, which will take place through direct deduction from salary or pension, but above all the ” lightness ” of installments, which will never exceed 20% of salary or of the net pension received.

The sum that we can request through the Payday loans offered by Social Institute will therefore depend on what is our monthly income and the duration we have chosen. There are four types of Payday loans that we can choose from, which provide for a repayment in one, two, three and four years respectively. The amount that we can request will be equal to our net monthly salary, which will be multiplied by the number of years in which we prefer to make the repayment. In the event that the applicant does not have other loans in progress, then the sum that he can request will be double that which has just been calculated.

Simulation small loan Government Agency: rates and estimate 

If you are interested in requesting a small Government Agency loan, the best thing to do is to consult the Government Agency tables. These simple tables allow us to perform a real simulation of our financing, without the need to contact a bank or some expert in the field. On the Social Institute website, the document that we will have to consult will be the so-called prontuario. Here we will find all the information we need to evaluate the expenditure to which we will meet and compare the conditions offered with those of other companies.

In the section dedicated to Payday loans, we will find four tables, relating precisely to the four reimbursement options mentioned above. As specified in the handbook itself, the annual effective interest rate that will be applied to our loan will not depend on the duration of the loan. The rate will in fact be set at 4.25%, and therefore the repayment installments that we will calculate will also be fixed for the entire duration of the loan we have chosen.

See the tables of Payday loans Social Institute is very simple. Based on the sum we need, by performing the calculation described above we will know what are the durations between which we can choose. So what we will have to do is look for the row of the table relative to the desired amount, and immediately we will know the repayment installment that we will have to pay each month by choosing that specific duration. In the other columns we will find the amount related to the interest for deferment, the administrative costs that we will have to bear and the costs for the guarantee fund. The latter amount will depend on the age of the applicant, given that as the age increases at the time of the request, the risks to the company providing the loan will be greater.