MonthAugust 2019

The most advantageous loan consolidation

In an increasingly consumer-based world, many people find themselves in financial distress because of the large number of ill-considered unfavorable loans. If you take on more loans than you are actually able to repay, so that you have at least some money to live on, you can easily get into a debt trap.

 Loan consolidation is a common offering of banks

Loan consolidation

One way to grow out of such a tricky situation may be to consolidate loans with one creditor. The point is that all your previous loans will be merged into one and you will continue to repay this single loan.

This noticeably reduces the amount of interest and also extends the repayment period so you get time and the possibility to simply repay the loan. Loan consolidation is a common offering of banks, as well as non-bank lending companies. From this wide range you can easily choose the most advantageous loan consolidation. If you have failed to apply for a loan consolidation at the bank, for example, due to a negative entry in the registers, it is possible to consolidate loans with some of the non-banking institutions using a loan with real estate collateral which is also suitable for disbursement.

What is needed to consolidate loans?

Most banks and non-banking companies require two identity documents from clients applying for loan consolidation, that is, an identity card and, as a second document, a passport, driver’s license or birth certificate.

Documents that are associated with previous loans, such as contracts, notes, credit card or overdraft statements, and / or credit quantification, should also be documented.

Banks require a sufficiently high regular income to be substantiated. If you are on the debtor register or do not have a regular income, your bank is unlikely to approve the consolidation, in which case you can contact one of the non-bank lenders who allow loans to those who do not have a sufficiently high income or are completely devoid of provable income. or have a negative entry in the registers.

Interest on non-bank loan consolidation is somewhat higher and real estate collateral is usually required, but on the other hand it will enable almost anyone to consolidate loans.

How to choose the best loan consolidation

How to choose the best loan consolidation

To find out which loan consolidation offer is the best and most advantageous, use consolidation calculators on the websites of individual financial institutions. Here you will fill in a few simple details and in a moment you will get non-binding information according to which you can easily compare which loan consolidation offer will be the best for you.

Banks with the Highest Interest

One of the most advantageous ways of assessing people’s savings is investing in interest. However, those who want to make more savings with interest rates should open an e-term deposit account. Because e-deposit return rates are higher than classical deposit account accounts. The reason for this is that there are no branch and operation costs in e-deposits, thus keeping the rate of return on accounts opened using an internet banking account high.

Extra money in exchange for your bank

Extra money in exchange for your bank

In fact, it does not give you extra money in exchange for your bank savings on both channels. The money you deposit into e-deposits or time deposits will pay you a commission at a certain interest rate from the income it generates because your bank operates in various markets and markets.

This price is determined as lower in classical deposit accounts opened from branches and higher in e-term deposits opened via internet. Below are the banks that give a high interest rate to even a small accumulation of 5,000 TL.

You can review the following banks and open an e-deposit account online at any time to keep your small savings safe and to gain more dividends on the money you have saved.

Good Finance E-Deposit Interest Rates

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Good Finance’s e-Deposit account operates on a daily basis during the maturity period and the rate is updated up or down depending on the market conditions. In this way, you can ensure that your savings are evaluated under market conditions with Good Finance E-Deposit account.

The current interest rate given by the Bank to deposits varies according to the number of days. The 30-day e-deposit interest rate is 8.75 percent. With this interest rate, you can receive an interest of 30,57 TL with a maturity of 30 days.

Good Lender E-Deposit Interest Rates

Good Lender E-Deposit Interest Rates

You can benefit from advantageous interest rates with Good Lender e-Deposit Account which you can open at any time of the day without going to the branch. When we examine the outstanding features of this deposit product, we see that the lower limit for the opening is 1,000 TL, 1,000 Euro or 1,000 USD, the announced interest rates are stated as gross interest and there are flexible maturity options that can be determined by the customer itself from 1 day to 365 days. Good Lender E-Deposit interest rates for TL accounts is 10.50 percent.

Honest Bank Interest Rates

Honest Bank Interest Rates

For Honest Bank, we can say that the advantages are not over. It is a deposit account where you can earn interest based on the opening amount, the currency of the account, whether the account type is cumulative or term, total deposit size and maturity.

Moreover, it is an internet banking account where you can evaluate your savings not only in currencies but also in gold. Honest Bank attracts attention with its high interest rates on deposits. As of 2019, 19 percent interest rate is applied for TL 5,000 in 32 days.

Why is it important for every family to have a fund for rainy days?

One of the most important things for any new family is financial stability. Life is full of unexpected twists and turns and you are well prepared for any challenge.

The importance of savings

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Balancing your daily expenses and trying to secure both your family and your child’s future, you sometimes forget how much an unexpected expense on your monthly budget would affect.

Whether you have two weeks left until your paycheck or your car breaks down just when you have several bills to pay, whatever the situation may be, you’ll have to break your budget.

At such times, the extra money would give you the peace of mind you need. Starting to set aside a certain amount is important to protect your family from unforeseen situations.

How Much Money Should I Save?

How Much Money Should I Save?

How much money you have to save depends on the income you have, how big your family is, your monthly expenses and, of course, your standard of living. Experts recommend that the minimum amount be around 3-6 months of savings, based on your monthly income.

Start from somewhere and increase

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Saving for 3-6 months may sound like a huge sum, but more important is to start from somewhere. Ask yourself what is the minimum amount you can save each month?

Start with a small amount. Do your best and forget the worry, your fund will soon increase. After six months of saving small amounts, start increasing the amount every month, even if it is small.

What else?

As you slowly increase your savings, it can often happen that unforeseen expenses occur.

When something like this happens, whether or not you save, the extra funds may not be enough to cover the unexpected. What next? At such times, fast online credit, such as a payday loan, can be welcome.

Apply online anytime, 24/7, without paper documents and without waiting in queues. Applying only takes a few minutes, and after approval, you receive the money the same day.

Return the money within 30 days and continue to manage your finances and increase your fund as before. This way you can get the peace of mind you need!