Payroll Credit Card: Know What It Is.

Have you ever heard of the payroll credit card or considered applying for it? Although much like a conventional card, this financial product is known to be one where the minimum invoice amount is automatically deducted from the customer’s paycheck.

Moreover, it is unique to people who may have a payroll loan. However, to better understand this card, its advantages and disadvantages, how about reading more about this subject? Follow the article we prepared for you to answer your main questions:

Can you make a payroll credit card?

Can you make a payroll credit card?

This option is considered as a more affordable personal line of credit compared to the conventional card . However, the product is suitable for those who are civil servants (including Armed Forces employees), retired and pensioners, provided they have a limit on the payable margin.

And despite having rates up to 5x lower than credit card, ideally always pay attention to pay the bill on time and not get into debt. Therefore, to have the card payroll is important to have a source of fixed income that has an agreement with one or more banks to do this type of operation.

Advantages and disadvantages of payroll card

Advantages and disadvantages of payroll card

To help you understand if this is an option for you, it is worth knowing the advantages and disadvantages of the financial product:

What is good?

  • Annuity free;
  • Some card banners have dot programs;
  • Cash withdrawals 90% of your card limit;
  • If you do not pay the full amount of the invoice, only 5% of your salary is deducted;
  • Invoice with description of place of purchase, date, among other important data;
  • 72 months to pay off the credit.

What’s not so good?

  • Interest is higher than payroll loans;
  • The minimum card payment is automatically deducted from your salary or benefit;
  • Some carriers charge a payroll credit card issuance fee;
  • Increased risk of debt if you do not know how to control spending.

Differences between payroll and conventional card

Differences between payroll and conventional card

The biggest differences between these two credit alternatives is the interest rate and repayment term . This is because the payroll-deductible credit card has a lower cost as the bank guarantees the repayment of the loan. After all, he discounts the minimum wage or benefit even before he falls into the account.

On the other hand, when it comes to payment terms, the payroll card can provide up to 50 days to settle the demands. Meanwhile, on the conventional card, this period can reach 35 days. Other relevant differences between the two are:

  • With the payroll card you do not need to be an account holder at the bank where you applied for credit

Take over loan – easily online

You are happy to help a good friend, partner or family member get rid of that loan. You can pay the costs for this yourself, but the other person barely makes ends meet. Yet it is important to arrange this properly. In this article you can read how these ways work in practice and what you should take into account.

Takeover loan – Repay the debt in one go

Takeover loan - Repay the debt in one go

If you choose this option, it is important that you first check a number of things at the bank or creditor. First, you request a statement of the total outstanding debt including the interest that still has to be paid. That way you know for sure that you really pay off everything. The bank or creditor makes it no further problem that you pay off the debt instead of your friend or family member.

However, sometimes banks charge a fine if you pay off a loan earlier than planned. For a revolving credit or overdraft this never applies, but it does for a mortgage or personal loan. So always ask yourself whether you can pay off without penalty. With this option, keep in mind that with a large repayment you quickly exceed the annual gift tax exemption.

Take over loan – Define installments by name

Take over loan - Define installments by name

But you are not always financially so spacious that you can pay off everything at once. Most banks do cooperate in taking over the loan from someone else, but they do check whether the repayments fit in with your financial situation. If it is not a loan from the bank but a different debt, then you have to check whether you can put the repayment in your name. Whether this is allowed, of course, depends on the creditor.

However, the other person always remains liable for the loan. If you stop making repayments, the bank or creditor will come to him or her.

Take over debt – Pay for another

Take over debt - Pay for another

Of course you don’t have to put the loan in your name to help. By regularly giving money for the repayment you also help with the repayment. Don’t forget to report any amount you give for the repayment to the Tax Authorities for gift tax.

Take over loan – Transfer

Take over loan - Transfer

Finally, you can take out a new loan with the same or a different bank to repay the other person’s loan immediately. You then retain the loan you take out, with the conditions that apply. The other hereby loses all liability, which you take over completely.

Keep in mind that you may be confronted with a fine with the old loan and that you will soon go over the gift tax exemption. It also depends on your financial situation whether the bank accepts your request. The bank always checks whether you can actually repay the new loan.

Private loan – what are the interest rates?

If you need money but do not want to go to a bank, a private loan can help. In that case, borrowing money from family or friends is an obvious option. You would think that such a loan is a friend service and you can therefore generate a lower interest. But unfortunately that is slightly different.

Interest on the market

Interest on the market

According to the tax authorities, the interest charged on a private loan must be in line with the market. This means that the interest rate must be at least as high as is customary in the market. You can calculate this yourself by taking the average of the interest rates that banks and lenders charge for a similar loan.

Return interest on private loan

Return interest on private loan

When you as a parent lend money to one of your children, you can return the interest rate that your child pays in interest on the loan by donating it. You can donate more than USD 5000 tax-free to your child per year. For most loans, the interest that is paid does not exceed this amount. 

Private loan interest – Register

Private loan interest - Register

When you take out a private loan, it is very important to have it registered properly. Even if it concerns relatives or friends. The last thing you want is that money matters between both problems start to cause. When all agreements have been recorded in black and white, it can never be unclear and everyone knows where he or she stands.

The document where you record these agreements is called a private deed  and is best recorded by a notary. In this agreement you must at least include the following:

  • Name and address details of both parties
  • Start date, duration and end date of the loan
  • The highest of the total amount borrowed
  • The interest rate used

There are numerous ways to borrow money these days. Banks and credit unions are sometimes hesitant to lend to borrowers with less-than-perfect credit (although that’s not always the case). But several borrowing sources should be available.

Unfortunately, seeking out lenders is somewhat risky when you have bad credit. Moving away from the stodgy world of traditional lenders may be necessary, but it requires caution. It’s easy to get your identity stolen online, and lenders promising to work with borrowers who have bad credit are often expensive (which can make things worse than they already are).

Repeat car loan with another loan – small installments

Anyone who took out a car loan many years ago often paid far too high interest. Redeeming the loan can save a lot of money.

Watch out for the prepayment fee

Watch out for the prepayment fee

If you want to redeem your car loan with another loan, you have to pay attention to the prepayment fee. This will be charged when the loan is paid off in full. Even if the new loan is taken out from the same bank, this fee is often charged. The bank is losing interest and is therefore charging a fee. The customer should have the bank calculate how much the payment would be if one loan is replaced with the other. The question often prompts the bank to offer the new loan on very favorable terms.

Otherwise she fears losing the customer. Some banks could also waive the fee if the new loan is taken out there.

Debt restructuring – right!

Debt restructuring - right!

Debt restructuring is always an advantage when interest rates have dropped sharply. But if you want to replace a car loan with another loan, you shouldn’t forget some things. The new loan agreement should not be signed until the old bank has confirmed the redemption. If it was not possible to redeem the loan, there would be two loan installments.

Debt restructuring is only worthwhile if the total costs decrease. Interest plays a role in this. But if the credit rating is not the same after years, it can also lead to an expensive loan. If the car loan was taken out with a good credit rating, it does not mean that the credit rating has been reclassified after years.

A job change may have occurred. A non-binding offer should therefore be obtained. If the interest rate is now much higher due to poorly rated creditworthiness, no debt restructuring is worthwhile.

Compare first – then apply

Compare first - then apply

Many banks make it easy for customers to have a car loan replaced with another loan. The new bank will contact the old bank and will take care of everything for the customer. Before it gets that far, however, you should first compare and then apply for the new loan. Credit institution where the car loan was taken out should be included in the comparison.

So a new offer can be found, which is really cheaper. A loan calculator from the Internet only requires the details of a debt rescheduling, the loan amount and the term. In this way, the customer can find out which providers actually grant a debt rescheduling loan. Loan seekers often find this information in the further product details.

Repay car loan with another loan – collateral

Repay car loan with another loan - collateral

If the loan seeker wants to have a car loan replaced with another loan, collateral is not always necessary. The borrower must have a good income and a good credit bureau. In this case, loan collateral would not be required. It is different with people who have a low salary or a bad credit bureau.

Then the bank can certainly ask for a loan security. If the amount is not too high, a guarantee is often sufficient.

If the loan amount is well over 10,000 USD, life insurance or residual debt insurance should be considered. Securing a loan increases your credit opportunities. In addition, this also has a positive impact on interest rates and other conditions.


Garage loan – Financing a garage

Would you like to buy a garage box? We recommend a personal loan . You then borrow the amount that the garage box costs and pay it back in fixed installments at a fixed interest.

You know in advance exactly where you stand and you will not be faced with financial surprises. However, it is smart to make a good comparison in advance. Pay particular attention to the amount of interest, the duration and the terms of the loan.

Financing garage box, what to pay attention to?

Financing garage box, what to pay attention to?

Our advice is therefore a personal loan. But if you want to find the most suitable loan, there are a number of things to look out for:

  • Conditions – In addition to the interest, also take a good look at the conditions. In many cases, these ensure that the loan is more expensive than previously thought. Pay attention, for example, to whether you can make additional repayments in the meantime and whether the remaining debt is remitted or not in the event of death.
  • Duration – Always choose the shortest possible duration for which the monthly charges are easy to bear. In general, the longer the term, the lower the monthly charges. This seems favorable. But with lower monthly payments, the loan runs longer. Below the line you are therefore more expensive.

Financing a garage, how much to borrow?

Financing a garage, how much to borrow?

The price of a garage box differs per city. For example, in a somewhat smaller municipality you pay 10,000 dollars for a garage box, while in a larger city you quickly lose 50,000 dollars. Build a garage box on your own land? Then you must quickly take into account a price between 10,000 and 20,000 dollars, depending on the size and degree of insulation.

Garage box loan deductible

Garage box loan deductible

If you take out a loan to finance a garage box, the interest is deductible if the garage box is attached to your home or placed on the floor around your home. A garage box is an improvement of your home at that time and increases the value of your home. If the garage box is somewhere else, the tax benefit does not apply.

Tip! Is the garage box on your own property and does this immediately increase the value of your house? Then don’t forget to adjust your home insurance. On the Lite Lender comparison site you can immediately see which insurer offers the most advantageous insurance for your home.

Financing an alternative garage box

Financing an alternative garage box

In addition to the personal loan, there are a few ways to finance the construction of a garage box:

Revolving credit: Build a garage box yourself, but you do not know exactly how much money you spend with it? Then a revolving credit may be a good option. With a revolving credit, you can withdraw and repay unlimited amounts up to an agreed amount. The great thing about this is that you only pay interest on the actually recorded part. If the construction of the garage box is cheaper, you will pay interest for a lower amount.

Pay attention! With a revolving credit, there is a strong temptation to use the credit for other purposes. The danger of borrowing too much and being tied to the loan for an unnecessarily long time is therefore certainly present. Self-discipline is therefore required.

Co-financing in mortgage: In addition to a personal loan and the revolving credit, there is another way to finance the garage box, namely through your mortgage. The advantage of this is that the interest is probably lower than with a loan. However, the disadvantage is that raising your mortgage costs entails and that you may not repay extra in the meantime.


Personal loan for higher education: find out what the options are

Do you need to attend higher education, but have no money? Will the course fees weigh in your pocket and compromise your budget?

In order to have good opportunities in the job market, to stand out and grow professionally, higher education has become essential and indispensable. However, being enrolled in a college has been a luxury item.

Thus, the expenses for studying are not only related to tuition fees and their annual adjustments. To be enrolled in an educational institution, you will have to pay for food, transportation and materials that are necessary during the training.

However, if you cannot count on government funding, scholarships and discounts, a personal loan for higher education may be the solution. This can be an option to pay for your training without getting financially complicated.

For this, we have gathered, in this post, everything you need to know about this new type of loan that will help you to raise your professional and university life.

How does personal loan work?

The personal loan is a type of credit made available to individuals, and there is no need to report on where the money will be invested. It is also not necessary to place any assets under warranty.

Although it is not required to explain where the requested money will be applied, currently, it is already possible to count on several types of personal loan. Among them are personal credit for travel and financing of vehicles and real estate.

With this, there is also the personal loan for higher education, which is nothing more than a credit that will be directed to finance your course. In this option, it is possible to finance only the semester or the complete course.

You will be able to dilute the installments of this loan in a way that fits your budget and financial planning, since you will pay a considerably less amount than the tuition fees. That way, you can invest in good materials and focus on studies without worrying about tuition.

What are the advantages of personal loans for higher education?

What are the advantages of personal loans for higher education?

Currently, it is possible to follow the news on the difficulty that has been registering and being selected in government financing. Furthermore, this type of student credit has high interest rates, which must be paid after graduation.

As stated earlier, the installments of the personal loan for higher education can be divided into lower amounts than college tuition. Fees and interest will depend on the financial institution where the contract is closed.

Therefore, do not see this type of credit as financing, but as an investment. With it, your training and career will turn into great results and fruits in the future.

In addition, this type of loan offers more flexible terms, without bureaucracy, and you will not spend late nights trying to access the site to renew your contract, nor will there be competition, as it happens in government grants and financing.

How to choose the best loan?

How to choose the best loan?

To opt for the best higher education loan, you must start researching the colleges you want to study at. So you will have a sense of the monthly fee, the duration of the course and other expenses.

Once you know the value you need, start looking for financial institutions. Get information about rates and interest, payment options, run simulations and talk to companies. This makes it easier to know the requirements, the loan options and the documents necessary for contracting the credit.


Loan with social assistance benefit

When you are on social assistance it is often difficult to make ends meet. The smallest debt can already have major consequences for your financial household. A social assistance benefit is based on the minimum amount that a household can make ends meet. The extra pressure of repayment and interest is often just too much, so that you can no longer make ends meet.

We therefore do not recommend borrowing money when you are on social assistance. But sometimes it simply cannot be otherwise, for example when your boiler stops or the washing machine breaks down. If you are in social assistance, then only borrow if it really cannot be otherwise and it is absolutely urgent.

Borrowing money if you are on social assistance – Municipal credit bank

Borrowing money if you are on social assistance - Municipal credit bank

What you could possibly try is to apply for a loan from the municipality. Indeed, there are some municipalities in the Netherlands that provide loans to people who cannot go anywhere else. These municipal loans are no cheaper than loans from banks or lenders. You just pay a market-level interest here. So consider carefully whether you can do this and whether you are willing to pay.

Borrowing money with social assistance benefit – Beware!

Borrowing money with social assistance benefit - Beware!

Banks and lenders in the Netherlands are bound by a code of conduct. This means that they do not provide loans if it causes people financial difficulties. However, if you are in social assistance, there is a good chance that you will get into trouble by borrowing money.

Therefore, there will not be many reliable banks and lenders who provide you with a loan. You can certainly find providers on the internet who want to borrow your money, but please be aware of that. In addition to the many scammers that are active, the other parties often charge a high interest, so that you end up in the rain. The loan will then hang around your neck like a millstone.

Assistance loan – Private loan

Are you on social assistance and want to borrow money in one way or another? Then a private loan with friends or family is also an option. Even then, of course, you simply pay a interest in line with the market, but the advantage of private borrowing is that you determine the preconditions together with the lender.

For example, you could repay a private limberness over a longer period of time, which means that you spend less every month. Make sure that you record all agreements in black and white in a loan agreement. This provides clarity on both sides. The last thing you want is arguing with friends or family about borrowed money.


Find out how to get a personal travel loan

Want to make the trip of your dreams come true? The one you always wanted, but your pocket is not allowing? Follow this post, we will give you a solution!

Lack of money no longer needs to be an impediment to making the “trip of your life”. Nowadays it is already possible to count on a personal loan for travel. As the name says, this type of credit is specific for vacationing and taking trips.

It doesn’t matter if you want to know the country or explore territories around the world. This type of loan allows values ​​that allow you to make any trip, and with installments that can be diluted in order to fit smoothly in your budget.

For that, we bring everything you need to know to apply for a personal travel loan. Check out!

What is the personal travel loan?

What is the personal travel loan?

In the personal loan, it is not necessary to say the end of the available credit. Despite this, some companies already allow you to make this request exclusively for travel. That is, the personal travel loan is nothing more than private credit directed to this type of purpose.

It is possible to finance a partial amount of the total, with a payment period of up to 48 months. In this way, research and organize in advance, define the destination, calculate the expenses related to accommodation, tours and food and reserve an amount for future unforeseen events.

It is worth mentioning that this partial amount of the total that can be financed does not include purchases made at the destination, such as souvenirs, clothes and other purchases. However, accommodation may be included.

What amounts can be financed?

What amounts can be financed?

As stated, in personal travel loans it is possible to subsidize a percentage of the total amount. It will depend on where the credit will be applied for, as this amount may vary according to the financial institution or bank chosen. Loans are generally made from $ 2,500.00.

Considering that not all financial institutions offer this type of credit, to avoid losses, research which offer this option and what are the rates applied.

What documents are needed?

What documents are needed?

To hire and apply for the personal travel loan, you will need the usual documents that are easily accessible:

• identification document (identity card or CNH);

• proof of income (paycheck or bank statement, both from the last three months);

• proof of address (also from the last three months).

After that, just send the documents for analysis. This inspection serves to define your credit profile, check that there are no restrictions on your name and evaluate the amount requested. Finally, after this process, you will be informed about the deadline for accessing the money in your checking account.

What are the advantages of a personal travel loan?

It is a fact that traveling is good for the soul, rests the head and renews energies, but this free time does not always fit in our financial planning. However, with the new possibilities for personal travel loans, this need not happen.

And, unlike ordinary personal credit, where money can be applied to different segments, the travel loan will be completely geared to this purpose, thus preventing you from spending it on unnecessary things.

Despite the facilities and conditions that many travel agencies provide for installments of packages on credit cards, this may not be the best option. That’s because the credit card fees, the additions made to dilute the installments and the value of the installments themselves can be considerably higher and turn your dream trip into a nightmare.

However, never fail to plan financially for loans of any kind. When it comes to travel, if it is well organized, surely your vacation will be unforgettable!

Are you interested in this type of loan and want to know more details? Contact us! We are ready to help you with whatever you need!


Lowest interest rate payday loan

Where can I find the lowest interest rate on my loan?

Where can I find the lowest interest rate on my loan?

After the crisis of a few years ago, interest on savings ended up in a free fall and there are even votes to lower it negatively. This of course also has consequences for the interest on all types of loans and then the payday loan in particular. Until recently it was difficult to find an interest rate below 10% for such loans, nowadays interest rates of 4 to 5 percent are the rule rather than the exception. For comparison: last year this was the interest for a long-term mortgage.



The general interest rate for banks is set by Demachin Bank and is a pure indicator of the extent to which a country is in a recession. The long-standing economist Keynes has argued that a low interest rate is necessary to induce consumers to spend more. In his opinion, a low interest rate on the savings account is a reason for the average resident to be a reason to make investments other than putting their surplus capital in the bank. The same low interest rate then extends to loans, making it not only easier for the average consumer but also more attractive to take out a loan for a large purchase.

At present, the economic situation in the Netherlands is clearly less rosy than before the fall of the banks, but a recession is just too big a word. Prices of basic necessities are still reasonably balanced, the housing market is picking up reasonably and the labor market is also becoming less and less bad. Reason enough for an intelligent borrower to now look for the financing options that suit you best.

Interest not saving

Unfortunately, looking for a good loan, just like everything else when it comes to finances, is not a one and two three thing for everyone. Simply bringing a number of different quotes and opting for the option with 4% interest instead of the 5% is not always an option.

Unlike all loans that are directly related to the purchase of a house, with a payday loan – whether it is a revolving credit or a fixed amount – the interest is (almost) never tax deductible. That makes the monthly charges in terms of interest net as high as gross and so it can be calculated. You must also look at the duration of your loan and the amount and method of repayment. With the increasing attention to get consumers borrowing and the increasing demand, more and more customized products are coming on the market to be able to offer everyone a suitable solution.

Straight line

Straight line

If you belong to that group of people who find it important that you not only do not pay too much for the services you purchase and would like to know exactly what fixed monthly expenses are, a payday loan (revolving loans are by definition always more expensive and may change during the term of percentage and repayment) with a linear course necessary. An interest rate is set for the entire term and the repayment starts low and continues to grow. This ensures certainty in terms of monthly charges because they remain the same throughout the entire term. There are changes only for the bank.

For example, for a loan of 10,000 euros for which 100 euros per month in interest and repayment is paid during the entire term, the ratio for the bank in the first year is 12 * 95 euros interest and 12 * 5 euros in repayment and the last year that is exactly other way around. This type of loan also has certainty for the bank, which means that the interest rate is often lower. The disadvantage is that with linear loans, the interest rate remains the same throughout the entire term. Especially with long maturities, this can mean that you pay more interest at a certain moment than is requested by other lenders at that time. Since interest rates are currently historically low, it is not likely that this will lead to a problem. The interest will not fall much lower than now, but it is something to take into account when taking out a loan.

On the guess

Are you more adventurous or do you find it important that you pay at all times what is reasonable (never too much, but not too little at other times), a revolving credit or a loan with a variable interest rate is more something that your street fits. The bank offers you an amount that you repay with a fixed amount per month. In addition, every month the interest rate applicable at that time on the outstanding amount is added.

This type of loan is not a source of certainty for you or for the bank, which means that the interest rate is often slightly higher than with a linear loan. Taking out this type of loan is therefore often a good choice in periods when the interest is high, because the chance that you will pay less in terms of interest during the term is certainly present. For relatively small amounts, it is often not worth the gamble and at the moment that you do not expect a fall in interest rates in the foreseeable future, it is also not the obvious choice. If the interest would only fall in a few years, you have now repaid so much that your monthly payments have already fallen.

In short: in a period that the interest rate is low, it is convenient to contact one of the many agencies that assist you in charting your wishes and possibilities before entering into any contract. This way you can avoid the pitfalls in the financial landscape.


A mortgage on pesos, uds or minimum wages | Mortgage Loan

It is a relevant preparing. Is a mortgage loan in pesos, udis or minimum income more convenient? The credit marketplace offers these options.

Mortgage Credit Choices

Mortgage Credit Options

The new options within mortgage loans make it difficult for your user to know clearly that is the best financing option. With all the purpose of offering a guide, all of us present the advantages and drawbacks of both types of credit score.

Fixed price, variable or mixed, within pesos? Based on udis or even minimum wages? There are numerous options as far as mortgage loans are involved. Therefore , it is worth requesting what is best.

Credit options in Udis are referenced to the advancement of inflation

Credit options in Udis are referenced to the evolution of inflation

The particular minimum wage to the yearly growth of this indicator that will somehow takes into account. The pesos are the normal rates billed by financial intermediaries for their clientele for the loan of the amount of money.

The particular Udis were created within Mexico in order to handle the particular crisis that was generated with the devaluation of December 1994. His intention was to all the credits to this sign. They worked at the time.

The credits referenced to Udis and minimal wages

The credits referenced to Udis and minimum wages

Allow to acquire greater credit capacity perfectly level of income. Its drawback is that the payments increase with time. Loans in pesos provide greater certainty to the lender, in terms of the amount to be compensated over time. They have the disadvantage which the amount of credit to be attained is less.

In the case of credits referred to Udis and minimum wages, the particular rates charged have 2 components: one fixed and something variable, that is, it is blended.

Rates within pesos are those that are in a commercial sense used in the financial system, and also have shown a strong downward tendency.

The credit score in pesos at a set rate is the most conservative, since the fixed payments give self-confidence and certainty.

The applicant has the final word.