Focus on bank’s revolving credit offer.

Are you looking for financing to cover unforeseen expenses or to carry out a project? You want to have a cash reserve where you can use it when you need it most. Need to borrow a small amount without having to report to your banker? Then discover this type of loan without supporting document offered by the financial company Best Bank, all the details on their offer, functioning of the financing, repayment duration and rate below

Functioning of revolving credit

Functioning of revolving credit

Revolving credit is a bank loan without proof. That is to say that via this kind of loan, you have the right to borrow an amount ranging from 500 up to 6,000 USD without having to present an estimate or invoice from a professional to prove the credit allocation. The capital with the rates requested by the banks is reimbursed in several monthly payments, sometimes ranging up to 5 years. It all depends on the amount you asked the bank for.

Different from other banking services, especially in its operation, revolving credit is most often used as a reserve of money. Indeed, with this kind of loan, you have a liquidity capped at 6,000 USD on your account. As the name of the credit indicates, the amount borrowed is replenished every month. It will then be transferred to your current account in a few days and will be available via our bank card from ATMs when you need to face an unexpected event.

In most cases, the amount borrowed in revolving credit is used to avoid bank overdrafts for French households. Insofar as it can be allocated to any expense, it is used both for the settlement of current expenses and for specific projects such as property renovations, the purchase or repair of a car, etc.

For the unemployed precisely, this banking service can be an alternative to have a certain standard of living and claim to projects of redevelopment of their house or the restoration of their means of transport. However, for this category of person in particular, a deposit will be required to qualify for a loan of more than 2,000 USD.

You can spend the entire amount that was given to you at the bank. At the next monthly payment, the capital in question will be replenished and will be available again for other expenses. This is the peculiarity of revolving. However, care must be taken not to live beyond its means and to use this means of funding only in exceptional circumstances.

Invoices of all kinds, settlement of certain debts, and regularization of your situation with insurance companies: these are current expenses which can be settled via a revolving credit. Via your bank card, you can also directly pay for your purchases online with the capital granted to you by the bank. Both ATM withdrawals and bank card payments are free.

The capital granted by lending institutions as part of a revolving loan will be transferred to your account. You can therefore also transfer them to other accounts in order to pay for a certain service or for any other reason. However, this operation is subject to a fee which varies from one bank to another.

Revolving credit can also help you finance an investment in SCPI. The purchase of quota shares in civil real estate investment companies does not exceed 5,000 USD. Insofar as you do not have proof to present to claim this kind of loan, it will be easier for you to choose your provider. Generally, if you are applying for a mortgage for an SCPI investment project, the banks impose a list of employment agencies.

Best Bank’s revolving credit offer

Credit Agricole

The revolving credit offer proposed by Best Bank is called “Good Finance”, it is a financing which will be addressed to the customers of the bank so that it benefits from a reserve of money for their purchase, it will thus be able to benefit from a capital ranging from 500 to 6000 USD.

The advantages of the free asset revolving credit offer

  • The borrower can choose his monthly payments himself
  • You can choose the amount and the date of monthly payment
  • At any time you can make additional reimbursements to reimburse faster and pay less
  • You will be able to log into your online customer account to know the status of your refunds
  • The choice between 2 types of bank card to use the capital of your revolving credit.

Example of rate for a Best Bank revolving loan

If you choose to make a revolving credit of 3000 USD over a repayment period of 22 months and you use all the capital of your revolving loan, depending on your profile and current promotions you will be able to obtain an APR of 5.84%. Which will cost you 21 monthly payments of 150 USD and a final payment of 9.42 $. This will represent a total amount due of $ 3159.42, or $ 159.42 in interest costs.

Ask your 4 main questions about exchange loan

Many people want to study abroad, don’t they? However, this dream does not match the financial reality of a large part of the population.

But there are interesting alternatives for those who want to make an exchange. Currently, with the growing economic needs of the population, several lines of credit have been created. So, if you have the dream of studying abroad, you can already count on financing to reach that goal!

If you want to know more about this subject, check out this post 4 answers to the most frequently asked questions about exchange loans.

How does the exchange loan work?

How does the exchange loan work?

The interchange loan is a personal credit line for people who want to leave the country to study.

Up to 70% of the total amount of the course can be financed with this type of loan. However, other costs, such as housing and tickets, are not included in this type of financing.

The installments can be paid by credit card. The total amount can be paid in up to 24 months, but it is worth mentioning that this will depend on the conditions of the contract with the financial institution.

However, not all banks carry out this credit line. So do a lot of research on the conditions and requirements needed to purchase this loan.

What are the requirements for acquiring the loan?

What are the requirements for acquiring the loan?

Purchasing an exchange loan, compared to other types of financing, is quite simple.

The requirements for this financing line depend on each institution. It is usually necessary to prove income or show that you are able to afford the debt.

To apply for an exchange loan, simply contact the chosen financial institution and submit the necessary documentation:

• RG

• CPF

• Proof of income

• Proof of address

• Exchange contract with all information about the course and the country where you intend to study

Then the institution must perform an analysis to verify the amount released for the loan.

How to organize yourself financially?

How to organize yourself financially?

Deciding to study abroad is not easy, is it? This decision involves several factors, such as budget, documentation and means of subsistence in the chosen country. Therefore, it is necessary to plan the trip in the smallest details so as not to compromise your budget.

Since this type of loan does not cover all travel expenses, you will need to focus on planning that includes these expenses and follow it in a disciplined manner, so that it is a facilitator and no longer a problem in your budget.

Therefore, put the forecast of expenses with:

• Tickets;

• Stay;

• Food;

• Study material;

• Transport;

• Among others.

For the calculation, be sure to consider the time you will be living abroad and the currency of the country. Make spreadsheets, research cost of living and organize a financial reserve to cover these values.

Is it worth the loan?

Is it worth the loan?

The exchange loan is an option for those who want to study abroad but do not have the financial conditions to do so. With this type of credit you can pay the installments of the loan with great conditions that will not weigh in your pocket.

There are also scholarships offered by financial institutions. Letters of recommendation, admission tests and certificates of proficiency are generally required for the process.

The exchange loan is the best tool if you have the dream of studying abroad without financial conditions for immediate payment.

Now you know that the exchange loan may be the key to making your dream of studying abroad a reality. Just research the best payment terms and plan your trip in advance.

Why consider a home renovation loan?

Do you need to renovate your house, but the money is short? Calm down! We have a solution. Have you ever considered the possibility of a retirement loan? Yes, this can be a great option when there is a desire or need to renovate the home.

It is not always possible to have money available to peacefully pay for the repairs or renovations we want to make. Sometimes, we end up falling into debt and compromising the budget.

So that this does not happen, we will show, in this post, how the personal loan for reforms can make this process simpler and cheaper.

How does the retirement loan work?

How does the retirement loan work?

In order not to run the risk of being hit by high credit card and overdraft fees when renovating your home, this type of financing is a good option.

Generally, companies offering the retirement loan provide up to 90% of the total value of the service, including the materials and labor of the contractors.

Therefore, personal credit will be your tool for the entire reform process, without having to compromise your finances.

What are the requirements for getting credit?

What are the requirements for getting credit?

To be able to finance your retirement, as well as all personal credit, you need to prove a fixed monthly income. You must also show proof of residence, identity document and have no restrictions on the name, that is, not be included in debtors list.

In addition, there are two more requirements. The first is that you must present the property documents, including property tax and negative debt certificate, at the city hall where the property is located. 

The other requirement, however, concerns alienation. In the form of loan for reforms, the property is usually placed as a guarantee that you will pay off the debt.

Is this type of credit advantageous?

Is this type of credit advantageous?

As one of the requirements to obtain this credit line is proof of monthly income, it is easier to comply with pending issues.

That way, if you follow good planning and are organized with your finances, the retirement loan will only bring benefits. If the reform is emergency, for example, it is one more reason to use this funding.

To do this, put all the expenses you will have with the renovation, the materials you will need and the labor costs on the tip of the pencil. That way you don’t run the risk of applying for a higher or lower credit than you really need.

Another advantage is in relation to interest rates. They are considerably lower than other loan rates, and have a good timeframe to start paying the installments.

Therefore, by organizing and planning each step of the renovation of your home, the loan will be a facilitator to realize your dream of leaving your property as you always wanted.

The retirement loan, if well thought out, is a great option to consider if you need or want to change the air in your home.