In fact, there are currently two major issues that concern the credit sector and therefore the general public. One, how long does the low interest rate environment last? Well, we won’t answer that question right now. The other is about what kind of credit do we have? Is it primarily worth paying attention to interest rate variable or fixed?

What is the difference?

Although it seems clear, it is worth clarifying this point. Fixed rate loans refer to products with longer interest rates, while floating rate loans to short ones. The role of the interest rate period in credit agreements is extremely important, as during this period, whatever happens (meaning the increase in the central bank base rate), the amount of our monthly repayment does not change. From now on, if this period is only 3 months, you are more likely to have a change in your monthly burden than, say, 5 years. Let’s see what this means through a concrete example!

Let us count!

We will examine two extremes to make it clear why it is worth emphasizing this. As usual, let’s call the calculator of the loan.hu! Let’s calculate a loan that we take for 20 years and say $ 10 million. And this time also set the interest period to only 3 months.

The first offer we see is Hannah Bank Hannah Forint Real Estate Loan (Normal Terms), which is for $ 61,497 per month. So we will repay the bank a total of HUF 14,772,014 if…. It is very important that only if there is no interest rate increase in 20 years that we have little chance of.

Now, let’s do the same calculation, with the change that the interest period will be 20 years! In this case, the monthly repayment will jump to $ 77,529 and the total amount paid back will be $ 18,619,774 . The difference is significant. But here we know that whatever happens in the world, we will not have more expensive credit.

Such an article is not suitable for “telling the tutti”. Everything else is more important, either cheapness or predictability. However, we can say for sure that if you visit us, we will help you find the right solution for you. Feel free to contact us!

I have a report of suffering a loss that only appears in the bank of Italy: thirty-six months have passed since the assignment of the credit. Can I request a cancellation? To whom and how should this cancellation be requested?

Unable to settle debt

There is the talk of suffering when the client is assessed in a state of insolvency even if this has not been established in court. The non-performing classification is the result of the assessment of the client’s overall financial situation by the bank or financial intermediary. Banks and financial intermediaries must inform in writing the client and any co-obligors the first time they report it to “non-performing”.

The data in Central Risks are displayed backward, including a thirty-six-month time window. If the report is still visible and not obscured, assuming that the assignee Bank has renewed it, and if indeed more than three years have elapsed since the assignment of the credit made by the original creditor, it is probably an anomaly of the management software of the electronic archive, which must be notified to the Bank, since it is not possible to trace the problem to the intermediary subject who made, or renewed, the report.

Protection of personal data

Furthermore, the Authority for the protection of personal data has recently clarified that the visualization of the data present in the risk centers cannot extend beyond a backward time window of more than five years (which originates from the first report – even if the same was subsequently renewed by a transferee).

The 5 years established recently by the Privacy Guarantor to cancel any report (right to be forgotten), must be calculated from the date of first notification (which as regards the bank of Italy cannot be deduced from the visual), or from the date of the end of loan relationship?

As is known, the information relating to non-regularized non-compliance can be retained in the SIC no later than thirty-six months from the contractual expiry date of the relationship or, in case of other events relevant to the payment, from the date on which it was necessary their last update, or in any case from the date of termination of the relationship.

With the interpretive provision, the Authority for the protection of personal data has admitted that the aforementioned standard makes it uncertain the identification of the starting date of the term of retention of data relating to non-regularized non-compliance.

Term of thirty-six months

In fact, if, on the one hand, we want to avoid that the term of thirty-six months from the expected termination of the contractual relationship automatically entails the cancellation of information relating to non-compliance (yet) regularized, on the other hand the generality of the text that, at To this end, it considers relevant a plurality of events risks making it impossible to determine ex ante the moment in which personal data will be deleted, with consequent uncertainty for the interested parties and for the sector operators. In fact, the experience of these years has revealed the existence of diversified operational practices among the various Sic, confirming the opportunity of a clarification intervention of the Guarantor.

Conclusion

Therefore, in accordance with the general principles established on the processing of personal data (Article 11 of the code of ethics), the Authority considers it appropriate that the maximum term of retention of data relating to non-compliance not later regularized (without prejudice to the reference deadline 36 months from the contractual expiry or termination of the relationship), can never, in any case, exceed five years from the date of expiry of the relationship, as shown in the loan agreement.

This corresponds to the need not to make the final data retention term random and indefinite. In the sense of a less discretionary determination of this term, the new regulation concerning the protection of personal data contained , which, in the matter of disclosure to be provided to the interested party, provides that in order to guarantee a correct and transparent treatment, the holder indicates, inter alia, the retention period of personal data or, if this is not possible, the criteria used to determine this period.

Consuming a loan is one way for an individual to borrow money. As a rule, the borrower receives a one-time payment (principal amount) from the lender and returns it with the payment of expenses for the loan (interest plus loan fees). Payments are made by regular installments throughout the loan period. Many loans to individuals are unsecured loans, which means that they do not require the client to pledge any asset (such as a house or car) as collateral.

Consumer credits are usually issued as loans with repayment within a certain period of time. Loan amounts and conditions can vary greatly, depending on the state and the lender. with us, our goal is to make sure that you get the best loan offer we can provide based on your unique financial and credit situation.

The interest rates for these loans are usually set by the lender and can vary depending on such factors as the borrower’s creditworthiness, the amount and term of the required loan. Rates will usually be fixed for the entire term of the loan and are calculated as an annual interest rate. If you are eligible for a loan through InnetLoan, we will work to find the best possible loan offer for you based on your financial requirements.

There are no particular restrictions on how the proceeds can be used. Loans to individuals are most often used to cover unexpected expenses, to purchase large houses or cars, or to consolidate debts.

To determine how much you can borrow, fill out our short online form to verify your eligibility, or call one of our customer support representatives today for more information.

Reasons to get a consumer loan

Consumer credit is ideal for people with a verifiable income and good credit history, but limited resources. In other words, these loans may be the only salvation for young professionals who need money for a major event or unforeseen expenses.

Such a case, when obtaining a consumer loan is a good solution, there can be some big event, for example, a wedding.
Consumer credit also works wonders when you first buy a home. If you can’t afford a mortgage to buy your dream home with immediate cash payments, a loan to a private person to improve living conditions may allow you to purchase a modest home. Personal loans also create a credit history that helps make larger purchases in the future.

Long-term loan

More and more borrowers use consumer loans instead of traditional “payday” loans. Many customers believe that the repayment of the entire loan and interest on the next payment date may expose them to financial pressure, especially if the loan is taken for an emergency.

In some cases, those who take a “payday loan” are not able to make repayments in 15–30 days, and therefore they are forced to take new loans to pay off old ones, or have to extend the loan, which leads to a significant increase in its value.

Therefore, long-term consumer credit is a more responsible choice. The client can stretch the payout to 5, 6 or 12 months, which provides much more flexibility.

In addition, the borrower receives a borrowed amount for a longer period and with lower monthly repayment payments, which gives him much greater control over his finances.

When you buy a personal loan, your goal is also to protect yourself and your loved ones. For this was created the personal loan insurance that will support the repayment of your monthly payments in case of default on your part (unemployment, indebtedness, inability to work …) or fully in case of death. It is therefore important to choose your personal credit insurance

Credit organizations and loan insurance

The vast majority of credit organizations make it easier for you to lend to loan insurance. Nobody is safe from accidents during his life, you will also have to choose a personal loan insurance , well defined according to your profile.

Choosing the right type of insurance

An offer covering the most common cases in order to secure your loan as much as possible. But be careful not to subscribe to any insurance at any price!

Real Estate Loan Insurance Solution

For a mortgage loan insurance for example, it is the bank that will define the type of coverage needed for your mortgage. You will have to pass a health questionnaire, and the bank also take into account your professional status.

Personal credit insurance

Whether it’s a personal loan or a home loan, it’s important to play the competition for your loan insurance. For your mortgage, going through a credit insurance broker like Loan Insurance will allow you at first … not to lose, to solicit insurers one by one. Then, the broker can offer you through its list of partners an offer tailored to your profile (young borrower, senior borrower, practicing sports at risk, risky job, patient …). This offer will be the most competitive on the market because Cheap Loan Insurance has special rates with the best insurers.

Comparative simulation personal loan insurance

Make an online simulation on Loan Insurance and receive your quote as soon as possible or have one of our advisors call you back.