October 11, 2018 Cash loan insurance is a form of security – both for the bank and the borrower. It is a combination of two services occurring in the financial-banking and insurance sectors. When unforeseen situations arise, the unpaid portion of the cash loan is regulated by the insurance company. In the article you just started reading you will find information about types of cash loan ins...
August 28, 2018 Nowadays life without credit is very difficult. Trips, car, apartment – how to finance your needs without having rich parents, without being the president of a successful company or winning millions in the lotto? The solution is a cash loan. 30,000 loan can meet our needs without reaching out to the family. Borrowing from loved ones spoils relationships! It is better to take a loan of 30 thousand. for 5 years and pay off convenient installments. We invite you to the article, from which you will learn how much you have to earn to get a loan and make your dreams come true.
30,000 loan for 5 years – what installment awaits you?
If you want to take out a loan for 30,000, the loan calculator will help you calculate the installment and see if you can afford it. You will quickly find out what monthly payments are associated with a cash loan and how much the total cost of the loan is. Banks do not borrow for free! You must be aware of all fees.
How much do you have to earn to get a loan?
We already know the 7 best loan offers for 30,000 Cash loan, one of the most popular types of loans, can be used for any purpose. Provided we receive additional funds. How much do you have to earn to get a loan? The amount of remuneration has the greatest impact on the size of the loan.
It is assumed that the loan installment cannot be higher than 50% of our monthly income (in the case of clients earning below the national average, the remaining limit is 65% of income). Until mid-2013, it was one of the most important restrictions of the T Recommendation. It is a document addressed to all banks, which concerns good practices in the area of retail risk management of credit exposures.
Today, the document issued by the Polish Financial Supervision Authority does not contain strict regulations, but gives some recommendations that banks should stick to. The provisions of Recommendation T say: “It is recommended that banks adopt an objectively safe level of burden on retail clients’ income by repayment of credit and financial liabilities, taking into account the impact of macroeconomic conditions on their creditworthiness.” The amount of credit that we can take depends on the assessment of our creditworthiness .
The assessment of creditworthiness affects the price of the loan!
Banks are required to assess creditworthiness, taking into account primarily:
- the amount of income received and regularity of payments to the account,
- type of contract – clients with an employment contract of indefinite duration are most preferred because their income is the most stable. This does not mean that, when working on a subscription contract, we will not receive credit, provided that we regularly receive remuneration,
- household maintenance costs,
- current liabilities, including purchases in installments and a credit card,
- credit history in BIK,
- loan type and amount.
The amount of income received and the loan
Given that the average loan installment for 30 thousand. is 700 PLN, we cannot have earnings lower than 1450 PLN. According to GUS data, the minimum wage in 2018 is PLN 1,530 net (PLN 2,100 gross).
A higher mortgage requires much more. How much do you have to earn to get a home loan? Everyone finally wants to stop renting an apartment. However, you have to be prepared that you have to have a slightly higher income to your own four corners. Especially when we do not buy a flat for a single, but for a family. The average price of an apartment in Warsaw is currently PLN 516,800. In this case, the installment for your own angle with a 35-year loan period will average us PLN 2,200. 30 years of repayment will increase the monthly payment to approximately PLN 2,400. As a result, we have to earn about PLN 5,000 net so that we can afford to live on our own.
How much does the loan cost? – 30,000 loan and the fees
Looking for an answer to the question about the amount of the installment, we should find out how much the loan costs, and more precisely – what affects the amount of the installment?
The cost of credit consists of:
- commission related to granting the loan,
- interest rate: fixed or variable,
- type of loan installments: permanent, decreasing or increasing,
- credit insurance, voluntary or compulsory, depending on the type of loan.
Before signing the loan agreement, pay attention to all costs so as not to be surprised by the amount of the installment.
30,000 loan without income certificates – in which banks?
MiBanks are not as liberal financial institutions as loan companies. They usually require certificates from the client who applies for additional funds. Let’s check whether for loans for 30 thousand. additional documents are required from the banks mentioned by us?
Only Bankor does not require an income certificate. The bank checks the credit history at BIK to make sure that the client will be able to pay the installments. If you need money quickly, you can consider proposing quick non-bank loans. In the installment loans ranking you will find installment loans of up to 25,000!
If this amount is sufficient, submit an application and enjoy your money in 15 minutes. You can also take advantage of credit and loans at the same time, provided that your finances allow it. A bank loan is not an obstacle when applying for payday loans!