Renewal of the loan: here’s how

It can also be requested with a loan in progress and without specifying the purpose: we are talking about the loan by wocer, the extra loan for employees. Let’s find out together what are the steps to proceed with a renewal.

The loan with delegation: the extra solution

The loan with delegation: the extra solution

The wocer loan is a particular type of personal loan that is not finalized, with a fixed rate and a constant rate. This is a complementary form of financing, if another type of financing is already underway, such as a fifth sale contract. For this reason, the wocer loan is also known as double fifth. It presents all the requirements of comfort and flexibility in terms of deduction on salary and the repayment installment affects, in fact, for another fifth. It is exclusively dedicated to permanent employees with permanent contracts.

Thanks to the wocer loan you can take advantage of the opportunity to request an additional sum even if you already have another loan in place. Convenience, convenience and simplicity are characteristics of this type of loan, the delivery of which is direct, without intermediation fees. You have the right to extinguish it when you wish, but also to proceed with a renegotiation.



Renewal or renegotiation, being a new loan request with wocer that takes place after extinguishing the previous loan, is subject to a new preliminary investigation and approval process. Those who decide to renew in advance the payment delegation in progress, to obtain a new loan, can request it before the expiration date, having a clear idea of ​​the resulting economic advantage.

However, there are some steps to be respected:

  • The amount remaining to be repaid must be estimated;
  • 40% of the depreciation plan must have been reached;
  • The unpaid interest expense and part of the insurance premiums not enjoyed can be recovered.

To give an example: a 120-month delegated loan will be renewable after 48 months, ie only after reaching 40% of the time.

When you have an amortization plan of less than 60 installments, the renewal can be requested at any time on condition that you agree to enter into a new contract that provides for an amortization schedule of 120 installments (the last installment must be settled within eighty-one years of age), then at least ten years.

Loan Amount Calculate House Construction

The loan amount is therefore higher than the amount you want to invest in building a house. In return, the loan amounts are significantly higher than at that time. In this way, you will receive the amount that you can spend on building your house. To calculate the purchase or construction price of the property. You can also use our service tools in advance, such as the loan calculator or the extensive home loan checklist.

Well secured for house building

Well secured for house building


In addition, the client bears the sole responsibility of the client for the entire route. If there occurs a misfortune, he has to take over the expenses incurred. However, very few people have experience in housing, so that you easily forget something in the planning and construction phase. With a monthly pension you then secure your living standard. If you can not pay for a certain period of time or only to a limited extent for the maintenance, the health insurance takes over after a work accident, the expenses.

In the statutory health insurance only the accident costs are incurred, which occur at the workplace or on the direct return trip. All accidents that occur in the free time, at home or when doing sports must be covered privately. According to the Bauter, more than 70 percentage points of all occupational accidents occur during free time.

This makes it possible to continue to pay the loan installments. The disability allowance is the most significant achievement in the accident check. It can be used in addition to the wage compensation, for example, for the handicapped accessible renovation of the building or for the assumption of therapy or drug costs, which are not covered by the health insurance. The family should always remember to insure all family members who are covered by accident insurance against the consequences of accidents.

The children’s accident insurance is not about the replacement of wages, but about a disability-friendly conversion or improved medical care. From the conclusion to the calculation to the change, we have prepared all the topics for you. There are several ways to secure a loan at the house bank.

If the loan amount is selected in the right order of magnitude, the loan can be repaid in full and the relatives do not have to raise any liabilities. This also applies to the death of the borrower. You only pay for the actual need for insurance. The conclusion of the residual debt insurance is done together with the credit. Many banks provide them as collateral for their loans.

Building owners need a comprehensive deposit protection. When building a house there is a risk of building damage and accidents. This can lead to significant expenses that do not arise alone. In case of damage to the building, the client is liable. In addition to the expenses for medical care and support, the customer may be entitled to compensation, compensation for lost profits and possibly a lifelong retirement pension.

For everything that happens on the construction site, the owners of one- and two-family homes are responsible. It must be ensured that the building plots are adequately secured and that all building regulations are complied with. Principal, contractor and contractor are jointly liable according to the BGB. Therefore, building owners are required to periodically check that all safety measures have been taken.

The principal’s liability insurance covers all the dangers that other people face at their construction site. In addition, no compensation for intentional or non-compliance is provided. Anyone who wants to make a contribution to the structure must include this separately in the protection. Fire, lightning and explosion damages are covered by the fire insurance.

With this optional supplementary insurance, building owners can best shield their home from the first downing. A construction data insurance covers contractors and clients from damage caused by these unpredictable natural events. This insurance covers the customer from several dangers. Uninsured by the Baulast Insurance are damage caused by fire or equipment.

Construction insurance

Construction insurance


The construction insurance covers the additional financing costs incurred by the contractor by contracting one or more other companies to carry out the demolished construction work. Add to that the daily costs of a decommissioned city. The client has to keep the bank interest for the unused part of the loan. As a rule, the contributions are passed on to the client.

But a construction company that can provide such coverage is, in most cases, a serious contact for housing. The warranty protection protects against damage after completion of the work. It provides additional safety protection in the event of an accident on the construction site and on the way back and forth. Only the client is responsible for all traffic accidents along the entire route – even if the construction worker was simply awkward.

What every builder should consider: Anyone who helps on the construction site must be registered with the BG Construction as an assistant. Excluded are only the builder himself and his spouse and hourly favors. Some insurance policies protect homeowners in the event of damage before the sinking. Fire, lightning, detonation, cyclone and hurricane or drinking water are sudden incidents that can severely affect the building fabric of a building.

In contrast to household insurance, homeowners insurance covers all damage to walls, floors, foundations and other fixed components of buildings such as buildings. As windows and windows responsible. Home insurance covers fire, lightning, explosion, severe weather, hail and water damage, but no other natural hazards such as flood of the property, quakes, subsidence, landslides and snowfalls. The household insurance assumes the damage costs for the inventory in the house.

The household insurer protects you against fire, lightning, explosion, tap water damage, thunderstorms and hail damage, burglary and destruction and thefts during the trip. Fuel oil can damage large quantities of groundwater or running water. Homeowners who heat with oil should therefore think early about appropriate protection. If the oil tank should be spilled, a water damage liability insurance – also an oil tank insurance – takes over the incurred expenses.

Otherwise, the protection of the insurance in case of damage is threatened. The homeowner has the opportunity to decide on any damage against which they want to insure their property. Significantly more insurance policies for building owners need to be completed. If you have a large loan for your own home, you should definitely insure it by taking out a risk or residual debt insurance so that the installments can be paid in the event of illness or death.

Loans: 8 tips on the sale of the fifth

The assignment of the fifth salary / pension is a secure, convenient and reliable financing solution. This is a type of personal loan, with a repayment plan of up to 120 months, aimed at facilitating access to credit for retired and state and private employees on permanent or fixed-term contracts, if the duration of the loan falls within the expiry of the contract of work.

The customer reimburses monthly the credit received through a plan of monthly, constant, fixed rate installments and the amount of which can not exceed the value of one fifth (hence the name “Cession of the Fifth”) of the total amount in payroll or on the pension bill.

To find the financing that best meets your needs, evaluate each component of the operation: here are 8 useful tips on the Cession of the Fifth.

A particular form of personal loan

A particular form of personal loan

The transfer of the fifth is a fixed rate loan with repayment in constant installments. The monthly amount of the installment is deducted from each paycheck or pension, directly from the employer or pension institution that pays it to the financial institution that provided the credit to the client. The maximum sum can never exceed 20% of the applicant’s net income, ie one fifth of the monthly net salary (net of all withholding taxes).

Also in the case of the pensioner, the maximum amount of the loan installment (transferable portion) is determined on the basis of the pension itself, net of tax and social security withholdings, and in such a way that the minimum pension established annually by law is safeguarded. If the customer has more transferable pensions, the transferable quota is determined on the basis of the total pensions received. Finally, it should be noted that the Cession of the Fifth can be applied to all pensions, with the exception of some particular types such as, for example, pensions and social benefits, civil disabilities, monthly checks for assistance to pensioners for incapacity and other checks. / pensions.

The difference compared to the traditional personal loan

The difference compared to the traditional personal loan

The assignment of the Fifth and the Personal Loan differ according to the method of payment of the credit obtained. While in the case of a personal loan the customer provides to repay the debt to the lending institution through, generally, the automatic debit on the current account or with the postal order, in the Transfer of the Fifth payment is made through deduction of the salary / pension and is regulated by a direct relationship between the lender and the employer of the client / pension institution. Moreover, sometimes, for the granting of a personal loan, the figure of a guarantor / co-signer of the loan is required. In the case of the Cessione del Quinto these types of guarantees are not provided.

The main advantages of the product

The main advantages of the product

The Cessione del Quinto is characterized by some advantages which consist of:

  • possibility to request up to € 75,000;
  • possibility of allocating funding to the desired purpose;
  • fixed, constant and fixed rate installments;
  • convenience of reimbursement through the deduction in the paycheck or on the pension of the share transferred;
  • reimbursement up to 120 months (10 years);
  • possibility to access the credit even in case of foreclosures, protests or other financial problems;
  • no need for special guarantees (guarantors, sureties or mortgages) due to insurance coverage, which the customer is obliged to underwrite, against life risk (for all types of customers) and against loss of employment (only for employees).

Who can request this type of financing

Who can request this type of financing

All state and public employees:

  • with a permanent contract;
  • residing in Italy;
  • from the age of 18 up to the statutory retirement period, or until the working age limit is reached (at the end of the retirement period the loan can be repaid or transferred to the pension);
  • that have certain characteristics with respect to the legal situation of the employer, the age of service and the type of contract.

All employees of private companies:

  • with a permanent contract;
  • fixed-term if the duration of the loan falls within the expiry of the employment contract;
  • residing in Italy;
  • from the age of 18 up to the statutory retirement period, or until the working age limit is reached;
  • condition of insurability of the company where it lends its working activity;
  • that have certain characteristics with respect to the legal situation of the employer, the age of service and the type of contract.

All retirees:

  • holders of a pension;
  • residing in Italy;
  • aged 85 or over at the end of the loan repayment plan.

The documentation necessary to instruct a loan with the assignment of the fifth salary / pension

The documentation necessary to instruct a loan with the assignment of the fifth salary / pension

  • Employees:
  • identity document and tax code;
  • last two paychecks, CUD and salary certificate (issued by the employer);
  • further documentation may be required during the investigation.
  • retired:
  • identity document and tax code;
  • last two pension slips, CUD and pension certificate (issued by the pension institution);
  • further documentation may be required during the investigation.

Some peculiarities of the Cessione del Quinto financing

Some peculiarities of the Cessione del Quinto financing

  • The employer / pension institution is obliged to accept the request for transfer of the fifth salary / pension as this type of credit is understood as a right.
  • The loan may be terminated at any time by the customer, as with other forms of credit, by recovering the amount of interest not yet accrued at the time of early repayment.
  • The transaction can only be renewed if the first two fifths of the original duration of the loan have elapsed (40% of the amortization plan), while loans with a duration of 5 years or less can be renewed even before 40%, but only with a ten-year sale and when this is done for the first time.
  • The renewal being in effect a new request for assignment of the fifth, which occurs by extinguishing the previous loan, is subject to approval by the paying agency.
  • The loan with proxy is a type of loan that can be added to the assignment of the fifth salary and the two installments can not exceed 2/5 of the salary.

Evaluate each component of the operation: 8 useful tips on the Cession of the Fifth

Evaluate each component of the operation: 8 useful tips on the Cession of the Fifth

To identify the loan with Cessione del Quinto that best meets its needs, it is advisable to carefully evaluate each component of the transaction: from the amount financed to the amount of the installment, from the TAN to the final APR of the transaction. Here are some tips for evaluating a Cession of the Fifth contract (information reported in the document IEBCC – Basic Information on Credit to Consumers):

  1. Verify the total amount of credit understood as the sum of the amounts made available to the customer net of any cost, expense, charge and commission.
  2. Check amount of the monthly payment and duration of the entire repayment plan.
  3. Verify the total amount owed by the customer as the amount of principal borrowed, plus interest and costs associated with the credit.
  4. Check the applied interest rate (TAN – Nominal annual rate), fixed for the entire duration of the loan.
  5. Check the APR (Annual Effective Annual Rate) which expresses, in percentage terms, the total cost of the credit and which allows the customer to make a comparison between the various offers available.
  6. Check the types of insurance coverage provided.
  7. Check other costs arising from the credit agreement and the expected costs in case of delayed payment of the installments of the loan.
  8. Ensure the conditions of other relevant legal aspects such as, for example, the right of withdrawal and early repayment.

In addition to following these tips, remember also to always carefully view the above mentioned elements and all the others in the document “Basic European Consumer Credit Information”. These indications are relevant to access the proposed credit solutions in a truly conscious manner. In this sense, it is advisable to always ask the institution where you have contacted a copy of the financing contract suitable for the stipulation, in order to have all the time for further study of the case.

Payday loan interest rate – Check the interest rate

What affects the cost of credit or loans? Is always a payday loan with an interest rate of 4.99% better than a loan with an interest rate of 7.49%?

Certainly every loan is associated with the costs of its award, but not every loan. The loan may be granted at 0%, without commission and other additional costs. It results directly from the Act on consumer credit. With loans it is not so and they can not be granted at zero interest rate.

In the case of loans, one of the elements that affects the cost of the liability is certainly the nominal interest rate. The interest rate can be fixed or variable. The choice of interest rate has a significant impact on the cost of the loan. If we take a small loan amount and for a short period of time, banks usually suggest a fixed interest rate. This means that the interest rate on the loan will not change throughout the loan period, even if the interest rates are raised. The variable interest rate depends on the NBP interest rates. If the interest rate is reduced then the interest rate on the loan drops and we pay smaller installments, if it grows, we pay higher installments.

What gives you consolidation loans

What gives you consolidation loans

The nominal interest rate in accordance with the provisions of the Civil Code can not exceed four times the Lombard rate of the National Bank of Poland. The basic NBP interest rates .

Interest rate on payday loan only 4.49%

Interest rate on cash loan only 4.49%

Banks like to “manipulate” interest-rate advertising. How many times we see that the interest rate is only 4.99%, we must take into account that the cost of credit will be influenced by a different factor. Most often it is a commission. In addition to the commission in the costs of loans, as well as loans, we can distinguish: additional fees, costs of additional services (eg “advisory fee” used in some of the loan companies), insurance, home services (in the case of non-bank loans).

Actual Annual Interest Rate

Actual Annual Interest Rate

It is a measure of the total cost of a loan or loan in percentage. It is not devoid of flaws, but it is currently the best way to compare loan offers and choose a cheap loan or a cheaper loan. In the case of banks, it is currently difficult to find an offer with APRC higher than 22-25%, in the case of loan companies it is not uncommon when this measure for the same liability is even 80-100%. In the case of payday loans it is even 1500-2000%.

Mortgage loan PLN 375 thousand Mortgage loan comparison

Mortgage loan PLN 370 thousand. Comparison of mortgage loans PLN 375000. The value of the property is PLN 450,000.

Real estate, it can be, for example, a house, a flat, a building plot.

The calculation of loan installments is only an estimation and an example. The calculator is primarily used to read information about the proposals of banks in the mortgage segment, as well as contacting a bank or loan adviser.

No loan calculator (above and other financial websites, including bank websites) should be treated as a collection of loan offers, recommendations, invitations to contract or as advisory services.

Providing detailed information on the costs of a mortgage loan that we obtain in a bank or a financial adviser, the principles of its repayment is possible only after analyzing the creditworthiness and creditworthiness of a person applying for such a loan.

Mortgage loan PLN 375 thousand offers of banks and advisers

Mortgage loan PLN 375 thousand offers of banks and advisers

When checking and comparing mortgages, the APRC and total costs must be taken into account. Collecting such data enables a better comparison of available loan proposals. The information form that we will receive at the bank will look similar to the example of a representative housing loan at PLN 375,000 in an example bank:

APY for mortgage loans secured by a 3.84% mortgage.


The loan term is 21 years.

The total amount of the mortgage loan PLN 375,000.

Variable interest rate 3.62%. The reference rate WIBOR 3M 1.73% and margin 1.89%. The margin is increased by 1.3pp. until the entry of the contractual mortgage becomes valid. Assuming that this will happen within 3 months from the conclusion of the loan agreement.

The total cost of the loan PLN 168 042:

  • 1% commission – 3750 PLN,
  • interest 164 073 PLN,
  • tax on civil law transactions (PCC) PLN 19,
  • the cost of mortgage entry in the Land and Mortgage Register of PLN 200,
  • payment for a savings and settlement account (ROR) PLN 0 (while maintaining the condition of monthly income PLN 5,000).

The total amount to be paid 543 042 PLN.

252 monthly equal installments of PLN 2152 after the collateral is established.

Calculation made on 13.11.2017 on a representative example.

Online Loans, Which Is More Profitable


Recognize First Various Loan Products

First  Loan

Economic conditions now often urge people to rely on credit or loans. Just imagine, the salary of IDR 4 million per month wants to buy a house of Rp1 billion, how long should I save?

Rp1,000,000,000: Rp.4,000,000 per month = 250 months

In other words, you have to save 250 months or 20 years, even without food and other expenses.

That is why many loan products are offered by creditors to facilitate their customers. But you know there are many types of loan products that, for example, Loan, Credit Multipurpose, to loan money online. Which should you choose?

Unsecured Credit Products


Unsecured loans or often referred to as unsecured loans are loan products from banks that do not require debtors to guarantee an asset. Unsecured credit is usually used for customers who are in need of fast funds.

Different from some other types of credit, you can use a Unsecured credit loan for any need. Unsecured credit is generally used for consumer needs that require fast funds, including:

  1. House renovation
  2. Treatment
  3. Business capital, etc

Some of the advantages of products when compared to other credit products are:

  1. The submission process is fast and easy, and does not require a guarantee
  2. The document is a small submission requirement
  3. The amount of payment can be repaid in accordance with the agreement with the bank
  4. The payment process is quite easy
  5. Can be used for any purpose
  6. Easily found in certain banks or financial institutions
  7. Fixed interest rates during the credit contract period

Besides its many interesting advantages, also has several disadvantages, including:

  1. Limit limited loan
  2. The tenor of a short loan depends on the amount of the loan
  3. You must have a professional status with income every month
  4. Generally, you will be asked to open an account at a related bank
  5. Interest rates are quite high because there is no guarantee
  6. There is a penalty fee if you pay off the loan before maturity

Now, collateral-free products are becoming increasingly popular and the bank is developing them for the convenience of customers. Now you can apply for Unsecured credit in several banks online so you don’t have to bother going back and forth to the bank. One example of Unsecured credit Online is the product of Tunaiku from Bank Emad Indonesia.

Bank Emad offers unsecured credit services without credit card ownership requirements. In accordance with the slogan, namely:

Need a cash loan? Without collateral. Without a credit card

The general requirement set by Bank is only and you can withdraw funds if you pass verification and appraisal. Also provides the convenience of applying for Unsecured credit via online so you can apply for while relaxing in the living room without having to be tired of driving to the bank in the midst of traffic jams and unfavorable weather.

How? Simple isn’t it? In addition to the ease of the submission process, Bank also makes it easier for its customers so that installment payments can be made without the need to visit the bank directly. The alternative payment for installments are as follows:

Online Loan Products

Online Loan

Because of the high demand ( demand ), now credit or loan products are increasingly varied. Not only loans from banks in the form of credit facilities such as Unsecured Loans or Multi-Purpose Loans, but there are also loans in the form of money loans via the internet or online. One is the website  end. Website l ending an online cash loan service provider for all urgent needs such as paying the cost of education or health needs such as doctor’s fees and medicines.

The loan scheme is almost similar to a loan from a bank, where the borrower directly applies for a loan to the company, but where the difference is, the loan procedure can be done online without the need for direct face to face.

In addition to website lending, there is also a name called Peer to Peer Lending. Peer to Peer Lending is a place to transact, whether you want to borrow a number of funds to develop a business, or if you want to invest by lending a number of funds and acting as an investor.

Peer to Peer Lending is the right system if you want a fast personal loan or for those of you who have excess funds and are still confused where you want to invest it. Some online platforms that provide online loan services include:

Loans without BIK – is verification required in the Credit Information Bureau?

Credit Information Bureau, referred to in short, BIK is a database where all information on loans and borrowings taken in banks and credit unions (cooperative savings and credit unions) and even information from loan companies that have concluded a separate agreement with BIK on exchange data. Is it possible to borrow without checking the information from BIK by the lender?

The banking sector will not grant credit without BIK

The banking sector will not grant credit without BIK

Both banks and Credit Unions always use BIK databases when issuing credit decisions to their clients. Negative entries in BIK generally minimize the chance of getting a loan, but positive entries that inform banks about a reliable repayment of earlier commitments by the client act in his favor. The bank will gladly grant him a loan, because good BIK data limits his credit risk.

While in the bank credit without BIK in practice is rarely available, and if it is already with co-debtors with a good credit history and with established mortgage collateral, loans without BIK still exist on the Polish financial market.

Loan companies interpret debt entries differently

Loan companies interpret debt entries differently

Customer verification in the Credit Information Bureau is not required in loan companies. As a result, they can give a payday without BIK, which does not mean, however, that they do not check clients in other databases. Many lenders check and exchange information from BIK, but treat it differently than banks. Negative entries do not prevent automatic borrowing, although it becomes more expensive.

Online loans without BIK are usually non-bank loans granted by loan companies that accept higher credit risk from banks. Verification in the Credit Information Bureau is only required for some lenders. For others, loans without BIK online are still available and you can use them without leaving your home. However, the industry is waiting for regulations and setting up top-down rules of functioning. It is possible that, as in the case of banks, in the future also loan companies will be obliged to provide BIK with information about their borrowers and automatically use the borrower databases themselves.

A loan for home or flat renovation Review of banks and products

Loan for home or flat renovation. What loan for the apartment renovation will be the best? A cash loan, a mortgage or a non-bank loan?

The cost of renovation, independent whether it is only painting and wallpapering, or a general renovation of the apartment and house, it still requires adequate financial outlay. Such an expense may amount to several hundred zlotys, as well as several thousand. If we do not have sufficient funds to finance the renovation, a loan or a bank loan often remains.

Each loan must be tailored to the needs and possibilities. Before we make a decision to carry out a renovation, it is necessary to estimate the cost of such renovation. Only then can we decide on the amount of the loan, the loan period and the type of financing: a loan or a mortgage loan.

In the bank, we will not find a product such as a home loan or a loan for a house renovation. A popular loan or a repair loan is nothing else but a loan or a cash loan.

If we want to renovate a non-bank loan, it is better to refrain from the renovation, due to the fact that non-bank loans (especially installments) are much more expensive than similar bank loans.

A cash loan for renovation

A cash loan for renovation

A cash loan or a cash loan is a good solution when you need a relatively small amount of loan for renovation. Its amount depends not only on the investment itself, but also on our creditworthiness. Therefore, before we decide on the scope of renovation work, it is worth contacting the bank for such analysis.

Why is cash loan a good solution in case of renovation? Because it is a quick loan, and we can get a decision to obtain it even within a few hours of submitting the loan application. It is certainly not the cheapest, because they are expensive loans. The interest rate on a cash loan amounts to a maximum of 10%, and the commission for its granting may reach as much as 10-15%. The maximum loan amount is PLN 200,000, and the maximum loan period is 10 years.

In order to choose a favorable loan for the renovation of an apartment or house, it is necessary to make comparisons of loan offers at banks.

In the case of cash loans, banks usually require a minimum of formalities. Depending on the amount of the loan or loan, sometimes only an ID card and proof of income amount are enough.

A mortgage loan for renovation

A mortgage loan for renovation

What if it is a general renovation of the house or flat we own? In the case of a major renovation, which requires the involvement of a lot more money, you should consider a mortgage loan.

In addition to having to own a property, it also can not be mortgaged.

With high funding amounts, amounting to over 40,000 PLN, a mortgage loan will be cheaper than a cash loan. It is lower interest bearing and the period for which we can borrow money exceeds 10 years. As a rule, it is a maximum of 30 years, and the loan limit is about 70-80% of the value of the property.

The procedure for obtaining such a loan is much longer than in the case of cash loans and loans.

Loan for apartment renovation calculator

Loan for apartment renovation calculator

It should only be noted that there is no such thing as a ” loan for housing renovation calculator “. This has been explained above. Let’s remind that every so-called repair credit is a cash loan or a mortgage loan.

In the case of loans and cash loans for the renovation of an apartment, you can use the cash loan calculator, which allows you to estimate loan installments.