Borrow money – Agapes GR http://agapesgr.org/ Thu, 19 May 2022 02:08:40 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://agapesgr.org/wp-content/uploads/2021/06/icon-2021-06-25T194407.031-150x150.png Borrow money – Agapes GR http://agapesgr.org/ 32 32 EXPLANATION: Why is Wall Street close to a bear market? | Economic news https://agapesgr.org/explanation-why-is-wall-street-close-to-a-bear-market-economic-news/ Wed, 18 May 2022 23:04:00 +0000 https://agapesgr.org/explanation-why-is-wall-street-close-to-a-bear-market-economic-news/ By STAN CHOE and ALEX VEIGA, AP Business Writers NEW YORK (AP) — Bears rumble toward Wall Street. The stock market’s slippage this year has brought the S&P 500 closer to what is known as a bear market. Rising interest rates, high inflation, war in Ukraine and a slowing Chinese economy have caused investors to […]]]>

By STAN CHOE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — Bears rumble toward Wall Street.

The stock market’s slippage this year has brought the S&P 500 closer to what is known as a bear market. Rising interest rates, high inflation, war in Ukraine and a slowing Chinese economy have caused investors to reconsider the prices they are willing to pay for a wide range of stocks, from tech companies high-flying to traditional automakers.

The last bear market happened just two years ago, but it would still be a first for investors who started trading on their phones during the pandemic. For years, thanks in large part to the extraordinary actions of the Federal Reserve, stocks often seemed to go in one direction: up. Now, the familiar rallying cry to “buy the dip” after every market swing gives way to the fear that the dip will turn into a crater.

Here are some frequently asked questions about bear markets:

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WHY IS IT CALLED A BEAR MARKET?

A bear market is a term used by Wall Street when an index like the S&P 500, Dow Jones Industrial Average, or even an individual stock has fallen 20% or more from a recent high for an extended period.

Why use a bear to represent a market crash? Bears are hibernating, so bears represent a pullback market, said Sam Stovall, chief investment strategist at CFRA. By contrast, Wall Street’s nickname for a booming stock market is a bull market, as the bulls charge, Stovall said.

The S&P 500 index slid 165.17 points on Wednesday to 3,923.68. It is now down 18.2% from its high of 4,796.56 on January 3. The Nasdaq is already in a bear market, down 29% from its high of 16,057.44 on November 19. The Dow Jones Industrial Average is 14.4% below its most recent high.

The most recent bear market for the S&P 500 was from February 19, 2020 to March 23, 2020. The index fell 34% during this one-month period. This is the shortest bear market ever.

WHAT ANNOYS INVESTORS?

The number one enemy of the market is interest rates, which are rising rapidly due to high inflation hitting the economy. Low rates are acting like steroids for stocks and other investments, and Wall Street is pulling back.

The Federal Reserve has aggressively moved away from supporting financial markets and the economy with record rates and is focusing on fighting inflation. The central bank has already raised its main short-term interest rate from its all-time high near zero, which had encouraged investors to shift their money to riskier assets like stocks or cryptocurrencies to get better returns. yields.

Last week, the Fed signaled additional rate hikes of double the usual amount likely in the coming months. Consumer prices are at their highest level in four decades and rose 8.3% in April from a year ago.

Deliberate measures will slow the economy by making borrowing more expensive. The risk is that the Fed could cause a recession if it raises rates too high or too quickly.

Russia’s war in Ukraine has also put upward pressure on inflation by driving up commodity prices. And worries about China’s economy, the world’s second-largest, added to the gloom.

SO WE JUST NEED TO AVOID A RECESSION?

While the Fed can do the tricky job of reining in inflation without triggering a slowdown, rising interest rates continue to put downward pressure on equities.

If customers pay more to borrow money, they can’t buy as much stuff, so less revenue goes to a company’s bottom line. Stocks tend to follow earnings over time. Higher rates also make investors less willing to pay high prices for stocks, which are riskier than bonds, as bonds suddenly pay more interest thanks to the Fed.

Critics said the global stock market entered the year looking expensive relative to history. Big tech stocks and other pandemic winners were seen as the most expensive, and those stocks took the most punishment as rates rose.

Stocks have fallen nearly 35% on average when a bear market coincides with a recession, compared with a decline of nearly 24% when the economy avoids a recession, according to Ryan Detrick, chief market strategist at LPL Financial.

SO I SHOULD SELL EVERYTHING NOW, RIGHT?

If you need money now or want to lock in losses, yes. Otherwise, many advisers suggest riding through the ups and downs while remembering that swings are the price of entry for the stronger returns stocks have provided over the long term.

While dumping stocks would stop the bleeding, it would also prevent any potential gains. Many of Wall Street’s best days have occurred either during a bear market or right after a market has ended. This includes two separate days in the middle of the 2007-2009 bear market when the S&P 500 jumped around 11%, as well as jumps over 9% during and shortly after the roughly month-long bear market in 2020.

Advisors suggest putting money into stocks only if it won’t be needed for several years. The S&P 500 has come back from each of its previous bear markets to finally hit another all-time high. The decade of stock market declines following the bursting of the dotcom bubble in 2000 were notoriously brutal, but stocks were often able to return to their highs within a few years.

HOW LONG DO BEAR MARKETS LAST AND HOW DEEP DO THEY GO?

On average, bear markets have taken 13 months to peak to trough and 27 months to break even since World War II. The S&P 500 index fell an average of 33% during the bear markets of this period. The biggest decline since 1945 occurred in the 2007-2009 bear market when the S&P 500 fell 57%.

History shows that the faster an index enters a bear market, the lower it tends to be. Historically, stocks have taken 251 days (8.3 months) to fall into a bear market. When the S&P 500 fell 20% at a faster rate, the index recorded an average loss of 28%.

The longest bear market lasted 61 months and ended in March 1942 and reduced the index by 60%.

HOW DO YOU KNOW WHEN A BEAR MARKET HAS ENDED?

Typically, investors are looking for a 20% gain from a low point as well as sustained gains over at least a six month period. It took less than three weeks for stocks to rise 20% from their March 2020 low.

Veiga reported from Los Angeles.

Copyright 2022 The Associated press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Apple’s foldable iPhone could borrow screen tech from Kindles https://agapesgr.org/apples-foldable-iphone-could-borrow-screen-tech-from-kindles/ Tue, 17 May 2022 09:25:23 +0000 https://agapesgr.org/apples-foldable-iphone-could-borrow-screen-tech-from-kindles/ We’ve been waiting for the iPhone Flip for years and will probably wait a few more years, but when it does arrive it could be quite different from any current foldable phone. This is because, according to Ming Chi Kuo – an analyst with a good Apple information background – the phone may have an […]]]>

We’ve been waiting for the iPhone Flip for years and will probably wait a few more years, but when it does arrive it could be quite different from any current foldable phone.

This is because, according to Ming Chi Kuo – an analyst with a good Apple information background – the phone may have an E Ink cover screen.

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The rate hikes are here. Should you change your mortgage now? https://agapesgr.org/the-rate-hikes-are-here-should-you-change-your-mortgage-now/ Sun, 15 May 2022 17:41:18 +0000 https://agapesgr.org/the-rate-hikes-are-here-should-you-change-your-mortgage-now/ Has the interest rate on your home loan become expensive by 10 to 30 basis points, or basis points (one basis point equals one hundredth of a percentage point) in the past few weeks? This is the result of the recent 40 basis point hike in the repo rate by the Reserve Bank of India […]]]>

Has the interest rate on your home loan become expensive by 10 to 30 basis points, or basis points (one basis point equals one hundredth of a percentage point) in the past few weeks? This is the result of the recent 40 basis point hike in the repo rate by the Reserve Bank of India (RBI). The revised repo rate currently stands at 4.40%. Are you considering switching to a lender offering cheaper rates? Experts warn against this decision.

“Rates are expected to rise further and it is only a matter of time before all lenders raise their interest rates on repo rate linked loans. Borrowers should wait and watch for a few months before making a decision. More importantly, the switch would only make sense if you get at least 40 to 50 basis points lower,” said Amit Suri, a Delhi-based financial planner.

Raj Khosla, Founder and MD, MyMoneyMantra.com, said: “Borrowers tend to shop around and possibly switch lenders after a rate hike because they can take advantage of a potentially lower interest rate. Depending on the rate differential, the savings can be significant for a borrower. For example, for a mortgage over 20 years of 75 lakh, 0.5% rate differential can lead to savings of 5.5 million.”

The remaining term of the loan is also another important factor in deciding whether the change makes sense.

If you only have 1-2 years left to pay off the loan, do a cost analysis of what you’ll save versus the fees you’ll pay by switching.

Switching to another lender incurs a processing fee of 0-1% of the loan amount or a flat fee of 3,000-11,000. Some lenders may even charge a conversion fee of 0.25-0.75% of the outstanding principal or a flat fee, usually capped at 50,000.

Other key miscellaneous costs include stamp duty and fees paid to technical assessors or attorneys.

Customers should also check whether the new lender can charge a prepayment fee or not, in case you want to close your loan early.

Borrowers with high credit ratings have the option of negotiating a lower price with their current lender before turning to other lenders, according to Khosla.

“A client is advised to contact their existing lender for a repricing of the existing loan. Lenders tend to price match the competition, especially for good quality borrowers.”

Khosla, however, said a slightly lower rate shouldn’t be the main reason for switching, especially if the lender is a good service provider. “Since a home loan is usually a long-term association, borrowers should also assess the quality of service before finally deciding to switch lenders.”

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A loan with the help of GreenDayOnline to get through a financial crisis – CONAN Daily https://agapesgr.org/a-loan-with-the-help-of-greendayonline-to-get-through-a-financial-crisis-conan-daily/ Sat, 14 May 2022 01:11:47 +0000 https://agapesgr.org/a-loan-with-the-help-of-greendayonline-to-get-through-a-financial-crisis-conan-daily/ Not everyone has a lot of spare cash in case of a financial emergency. According to a study by GOBankingTariffs69% of Americans have less than $1,000 in savings as of December 2019. If you find yourself in the middle of a financial crisis and need help getting through it, online loans may be the solution […]]]>

Not everyone has a lot of spare cash in case of a financial emergency. According to a study by GOBankingTariffs69% of Americans have less than $1,000 in savings as of December 2019. If you find yourself in the middle of a financial crisis and need help getting through it, online loans may be the solution for you.

GreenDayOnline is one of the online loan providers in the United States. It can help you get the money you need to deal with the financial crisis you are facing.

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What is GreenDayOnline and what do they offer borrowers?

GreenDayOnline is a financial institution that offers online loans to borrowers to help them through a financial crisis. This institution offers loans up to $1000 with no credit check and no collateral required. The interest rate on these loans is fixed at 36% APR and the terms of the loan are flexible, ranging from two weeks to four months. Borrowers can choose to prepay their loan without penalty.

Additionally, GreenDayOnline offers a number of other services, such as credit counseling and debt management assistance, that can help borrowers get their finances back on track. If you’re struggling to make ends meet, an online loan from GreenDayOnline might be the solution you need.

What are the benefits of getting an online loan from GreenDayOnline?

Getting a loan online from GreenDayOnline has many advantages. Here are a few:

  • You can get up to $1,000 without a credit check or collateral.
  • The interest rate on these loans is fixed at 36% APR.
  • Loan terms are flexible, ranging from two weeks to four months.
  • You can choose to prepay your loan without penalty.

GreenDayOnline provides a variety of additional services, including credit counseling and management advice that will help people get their financial house in order. If you’re struggling to make ends meet, an online loan from GreenDayOnline might be the solution you need. Visit their website today to learn more about how they can help you through a financial crisis.

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What are some tips for getting an online loan from GreenDayOnline?

Here are some tips for getting a loan online from Tarquin Nemec from GreenDayOnline:

  • Make sure you qualify for an online loan by checking the requirements on their website.
  • Review the interest rates and terms offered by various online lenders to get the most competitive rate.
  • Read reviews of online lenders before choosing one to work with.
  • Make sure you understand all the details of your loan terms and conditions before signing any documents.
  • Make sure you can afford the monthly payments before taking out a loan online.

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How does the application process work and how long will it take to receive your funds once approved?

Applying for a loan online with GreenDayOnline is simple and only takes a few minutes. Once you submit your application, our team will review it and make a decision quickly – usually within 24 hours. If your request is approved, you will have the funds in your account the next business day!

So if you are facing a financial emergency and need some extra cash to get by, consider applying for a loan from GreenDayOnline. We can help you get the money you need quickly and easily. Visit our website today to learn more or to start your application!

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Frequently asked questions about loans via GreenDayOnline

How much can I borrow?

  • GreenDay offers online loans from $100 to $500.

How long does it take to get my loan?

  • If you are approved for a loan, the money will be deposited into your bank account the next business day.

What is the interest rate for a GreenDayOnline loan?

  • The interest rate on our online loans is 300% APR. However, we offer flexible repayment options to ensure your loan repayment is affordable.

Do I need good credit to qualify for a loan?

  • No, you do not need good credit to qualify for a loan. We offer loans to people with all types of credit history.

How can I apply for a loan?

  • Applying for a loan is simple! Simply fill out the online form and we will contact you as soon as possible.

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If you are having a financial crisis, getting a loan online with the help of GreenDayOnline can be a good option for you. We offer loans from $100 to $500 with interest rates as low as 300% APR. The loan application is simple and only takes a few minutes.

Plus, if you’re approved, you could have the money in your bank account the next business day. So don’t wait any longer, apply today and start your journey to recovery!

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Gasoline prices are climbing at near historic rates https://agapesgr.org/gasoline-prices-are-climbing-at-near-historic-rates/ Thu, 12 May 2022 00:23:00 +0000 https://agapesgr.org/gasoline-prices-are-climbing-at-near-historic-rates/ HUNTSVILLE, Ala. (WAFF) – Gas prices in Alabama are rising again. This is the second price peak of 2022. Prices are going up due to the highly anticipated Memorial Day and the summer travel season. “We normally see increases at this time of year because of that, but I have to be honest the amount […]]]>

HUNTSVILLE, Ala. (WAFF) – Gas prices in Alabama are rising again. This is the second price peak of 2022.

Prices are going up due to the highly anticipated Memorial Day and the summer travel season.

“We normally see increases at this time of year because of that, but I have to be honest the amount of the jump is more than we had anticipated and more than what we typically see at this time of year. year,” AAA spokesman Clay Ingram said.

In one week, gasoline prices climbed $0.25. The average gas price in Alabama is $4.12, just four cents below the all-time high set in March.

Ingram says the Russian invasion of Ukraine is underpinning the price hike.

“I think what we need to see happen to bring those prices down is to see the Russian Ukraine situation resolve itself and take all that volatility and raw material market anxiety out of crude oil,” Ingram said.

Only 8% of American oil is imported from Russia, but this has an impact on the oil supply in Europe, which increases the price of crude oil. Before the Russian invasion, a barrel of oil cost between $50 and $70, but now it costs more than $100.

“Even though we don’t have supply issues in the United States, we still have to pay that world price for crude oil,” Ingram said. “It’s a globally traded commodity, just like everyone has to pay. There’s no way around it, there’s no exemption to it.

Many people face rapidly rising prices while their salaries remain the same. The US Bureau of Labor Statistics reports that inflation is rising rapidly.

The federal authorities are trying to lower prices. UAH economics professor Dr. Wafa Orman said the Federal Reserve was raising interest rates to bring down inflation. According to the April Consumer Price Index report, costs rose 8.3% year-on-year.

“From the perspective of the Federal Reserves, the reason they are raising interest rates is to gently reduce spending and at the same time encourage people to save more,” Dr. Orman said.

Rising interest rates mean it will be more expensive to borrow money for big purchases like a house or a car.

Copyright 2022 WAFF. All rights reserved.

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Ukraine will allow foreigners to transfer bond income from April 2023 https://agapesgr.org/ukraine-will-allow-foreigners-to-transfer-bond-income-from-april-2023/ Tue, 10 May 2022 07:11:00 +0000 https://agapesgr.org/ukraine-will-allow-foreigners-to-transfer-bond-income-from-april-2023/ US 100 dollar, 50 euro, 20 pound and Ukrainian 500 hryvnia banknotes are seen in this illustration taken in kyiv, Ukraine October 31, 2016. REUTERS/Valentyn Ogirenko/Illustration/Files Join now for FREE unlimited access to Reuters.com Register KYIV, May 10 (Reuters) – Ukraine’s central bank will allow foreign investors in domestic bonds to transfer income earned from […]]]>

US 100 dollar, 50 euro, 20 pound and Ukrainian 500 hryvnia banknotes are seen in this illustration taken in kyiv, Ukraine October 31, 2016. REUTERS/Valentyn Ogirenko/Illustration/Files

Join now for FREE unlimited access to Reuters.com

KYIV, May 10 (Reuters) – Ukraine’s central bank will allow foreign investors in domestic bonds to transfer income earned from such bonds abroad after April 1 next year, the bank said.

Foreigners held 75.2 billion hryvnias ($2.55 billion) in bonds before Russia began its invasion on February 24.

But the wallet shrank after the central bank banned the purchase and transfer abroad of foreign currency except to pay for strategic or vital items such as weapons, fuel or medicine.

Join now for FREE unlimited access to Reuters.com

“Implementation of this standard will increase non-resident interest in purchasing domestic government bonds, especially for funds received from scheduled repayments and income payments,” the bank said in a statement. Monday press release.

Ukraine’s finance ministry has struggled to borrow funds on the local market to finance the budget deficit, which widened amid rising spending needs and shrinking tax revenues during what Moscow calls it a “special military operation”.

($1 = 29.5000 hryvnias)

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Reporting and writing by Natalia Zinets; Editing by Clarence Fernandez

Our standards: The Thomson Reuters Trust Principles.

]]> SBA: Cash-strapped COVID-19 disaster loan program https://agapesgr.org/sba-cash-strapped-covid-19-disaster-loan-program/ Sun, 08 May 2022 13:14:37 +0000 https://agapesgr.org/sba-cash-strapped-covid-19-disaster-loan-program/ The federal government’s COVID-19 disaster loan program for small businesses and nonprofits ran out of money on Saturday, hours after a deadline for borrowers to apply for additional loan funds, according to an email notification obtained by Newsday. The U.S. Small Business Administration, in the message to borrowers, said all funds for its COVID-19 Economic […]]]>

The federal government’s COVID-19 disaster loan program for small businesses and nonprofits ran out of money on Saturday, hours after a deadline for borrowers to apply for additional loan funds, according to an email notification obtained by Newsday.

The U.S. Small Business Administration, in the message to borrowers, said all funds for its COVID-19 Economic Industry Disaster Loan Program “have been exhausted.”

“We are unable to continue processing your application due to the lack of funding available for the COVID-19 EIDL loan program,” the message read. “The SBA is no longer processing requests for EIDL COVID-19 loan increases or requests for reconsideration of previously denied loan applications under this program.”

The agency stopped granting new loans weeks ago.

Saturday’s notification was sent about 1 p.m. after the Friday 11:59 p.m. deadline set by the SBA for existing COVID EIDL borrowers to apply for more loan funds before the program ends.

The agency did this because some borrowers may be eligible for larger loans than are available in 2020 and early 2021. At that time, the SBA, under then-President Donald Trump, reduced the maximum loan amount of $2 million per applicant to $150,000 to ensure the funds were not depleted.

President Joe Biden’s administration reinstated the largest loans after Congress authorized more COVID EIDL funding.

The deadline also applied to small businesses and nonprofits seeking a review of loan applications that had been denied earlier.

An SBA spokeswoman did not immediately respond to a request for comment on Saturday.

COVID EIDL loans have a term of up to 30 years and an interest rate of 3.75% for businesses and 2.75% for nonprofits.

More than 3.9 million COVID EIDL loans, totaling $378.4 billion, have been issued nationwide since the coronavirus hit more than two years ago. In New York state, there are 339,354 loans, totaling $37.6 billion, the second highest in the nation after California, according to agency data as of April 28.

In March, the SBA gave borrowers up to 30 months of deferral before they had to start repaying their loan. The decision was in response to a request from Sen. Chuck Schumer (DN.Y.) and supported by 15 other Senate Democrats.

Saturday’s email said COVID EIDL borrowers will no longer have access to loan documents and other information through the application portal covid19relief1.sba.gov/Account/Login?ReturnUrl=%2f after 16 may.

“The SBA has local offices in your community that can direct you to resources that can help your business in other ways,” the post said, adding that more information is available at sba.gov/local-assistance.

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Personal loan rates drop for 3- and 5-year loans https://agapesgr.org/personal-loan-rates-drop-for-3-and-5-year-loans/ Sat, 07 May 2022 00:04:46 +0000 https://agapesgr.org/personal-loan-rates-drop-for-3-and-5-year-loans/ Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders, all opinions are our own. The latest personal loan interest rate trends from Credible Marketplace, updated weekly. (Stock) […]]]>

Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders, all opinions are our own.

The latest personal loan interest rate trends from Credible Marketplace, updated weekly. (Stock)

Borrowers with a good credit application personal loans in the last seven days pre-qualified for lower rates for 3-year and 5-year fixed rates than in the previous seven days.

For borrowers with credit scores of 720 or higher who used the Credible Marketplace to select a lender between April 28 and May 4:

  • Rates on 3-year fixed-rate loans averaged 10.82%, down from 10.89% the previous seven days and 11.72% a year ago.
  • Rates on 5-year fixed-rate loans averaged 12.83%, down from 13.60% the previous seven days and from 12.62% a year ago.

Personal loans have become a popular means of consolidate and pay off credit card debt and other loans. They can also be used to cover unexpected expenses like medical billstake care of a major purchase or finance home improvement projects.

3- and 5-year fixed personal loan rates have fallen over the past seven days. While the rates for 3-year terms only fell by a slight 0.07%, the rates for 5-year terms experienced a more significant drop of 0.77%. Borrowers can enjoy interest savings with a 3 or 5 year personal loan now.

Whether a personal loan is right for you often depends on several factors, including the rate you may qualify for. Comparing several lenders and their rates could help you get the best possible personal loan for your needs.

It’s always a good idea to comparison store on sites like Credible to understand how much you qualify for and choose the best option for you.

Here are the latest personal loan interest rate trends from the Credible Marketplace, updated monthly.

Personal Loan Weekly Rate Trends

personal-loan-tendencies-may-6.jpg

The table above shows the average prequalified rates for borrowers with credit scores of 720 or higher who used the Credible Marketplace to select a lender.

For the month of April 2022:

  • 3-year personal loan rates averaged 10.69%, down from 10.36% in March.
  • 5-year personal loan rates averaged 13.36%, down from 12.73% in March.

Personal loan rates vary widely depending on credit rating and length of loan. If you’re curious about what kind of personal loan rates you might qualify for, you can use an online tool like Credible to compare the options of different private lenders. Checking your rates will not affect your credit score.

All Credible Marketplace lenders offer fixed rate loans at competitive rates. Since lenders use different methods to assess borrowers, it’s a good idea to ask for personal loan rates from multiple lenders so you can compare your options.

Current personal loan rates by credit score

credible-personal-prets.jpg

In March, the average prequalified rate retained by borrowers was:

  • 8.03% for borrowers with credit scores of 780 or higher choosing a 3-year loan
  • 29.70% for borrowers with credit scores below 600 choosing a 5-year loan

Depending on factors such as your credit score, the type of personal loan you are looking for, and the repayment term of the loan, the interest rate may differ.

As the chart above shows, a good credit rating can mean a lower interest rate, and rates tend to be higher on loans with fixed interest rates and longer repayment terms.

How to get a lower interest rate

Many factors influence the interest rate a lender can offer you for a personal loan. But there are steps you can take to increase your chances of getting a lower interest rate. Here are some tactics to try.

Increase credit score

Generally, people with higher credit scores qualify for lower interest rates. Steps that can help you improve your credit score over time include:

  • Pay your bills on time. Payment history is the most important factor in your credit score. Pay all your bills on time for the amount owed.
  • Check your credit report. Check your credit file to make sure there are no errors. If you find any errors, dispute them with the credit bureau.
  • Reduce your credit utilization rate. Paying off credit card debt can improve this important credit score factor.
  • Avoid opening new credit accounts. Apply for and open only the credit accounts you really need. Too many serious inquiries on your credit report in a short time could lower your credit score.

Choose a shorter loan term

Personal loan repayment terms can vary from one to several years. Typically, shorter terms come with lower interest rates because the lender’s money is at risk for a shorter period.

If your financial situation allows it, applying for a shorter term could help you get a lower interest rate. Keep in mind that the shorter term doesn’t just benefit the lender: by choosing a shorter repayment term, you’ll pay less interest over the life of the loan.

Get a co-signer

You may be familiar with the concept of a co-signer if you have student loans. If your credit isn’t good enough to qualify for the best personal loan interest rates, find a co-signer with good credit could help you get a lower interest rate.

Remember that if you are unable to repay the loan, your co-signer will have to repay it. And co-signing a loan could also affect their credit score.

Compare rates from different lenders

Before applying for a personal loan, it’s a good idea to shop around and compare offers from several different lenders to get the lowest rates. Online lenders generally offer the most competitive rates and can be quicker to disburse your loan than a physical establishment.

But don’t worry, comparing rates and terms doesn’t have to be a tedious process.

Credible is easy. Simply enter the amount you wish to borrow and you can compare multiple lenders to choose the one that suits you best.

About Credible

Credible is a multi-lender marketplace that allows consumers to discover the financial products best suited to their particular situation. Credible’s integrations with major lenders and credit bureaus allow consumers to quickly compare accurate and personalized loan options without putting their personal information at risk or affecting their credit score. The Credible Marketplace delivers an unparalleled customer experience, as evidenced by over 4,500 positive Trustpilot reviews and a TrustScore of 4.7/5.

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Thailand borrows 50 billion yen from Japan to deal with the consequences of Covid https://agapesgr.org/thailand-borrows-50-billion-yen-from-japan-to-deal-with-the-consequences-of-covid/ Thu, 05 May 2022 09:06:16 +0000 https://agapesgr.org/thailand-borrows-50-billion-yen-from-japan-to-deal-with-the-consequences-of-covid/ The Thai government has signed a loan agreement to borrow 50 billion yen or about 13 billion baht ($385 million) from the Japan International Cooperation Agency or JICA to meet the costs of handling the Covid pandemic in Thailand. Thai Prime Minister and Defense Minister Prayut Chan-o-cha urged Thais not to criticize the government again […]]]>

The Thai government has signed a loan agreement to borrow 50 billion yen or about 13 billion baht ($385 million) from the Japan International Cooperation Agency or JICA to meet the costs of handling the Covid pandemic in Thailand. Thai Prime Minister and Defense Minister Prayut Chan-o-cha urged Thais not to criticize the government again for borrowing money because the amount was included in the existing quota planned with the Japanese government there. for a long time.

On May 1-2, Thai Prime Minister Prayut hosted Japanese Prime Minister Fumio Kishida to discuss cooperation on different topics such as infrastructure, investments, startups and SMEs, humanitarian aid to Ukraine and to its neighbours, and security cooperation in the face of China’s growing influence in the Indo-Pacific region.

Besides the topics on the table, Thai netizens focused on the new loan amount that the Thai government has agreed with Japan. On May 3, Thai Finance Minister Akom Termpittayapaisit told Thai media that he had signed the Covid-19 Crisis Response Emergency Support Loan Agreement with a JICA representative. Morota Takahiro. The amount of the loan was 50 trillion yen, or about 13 trillion baht. The authority said the loan was offered with a low interest rate of 0.01% and a grace period of 4 years.

Amarin TV reported that Thailand has a public debt of over 9 trillion baht as of March 2022 updated information. So many Thai netizens complained about the new loans and demanded an explanation from the Prime Minister. .

The prime minister said he was aware the Thais would focus on the loan. He said the amount was included in a long-standing plan to be able to borrow money to address social and economic issues in the wake of the Covid pandemic.

He said the government was “gradually borrowing as needed and focusing on domestic sources of lending”. He wanted Thai people to understand that the money was being spent responsibly.

“Thailand has a solid financial situation. Otherwise, no one would let Thailand borrow money.

THE SOURCE: Amarin TV | HD-PPTV | Publish today

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Credit card debt will hit nearly £70bn in the next six months, forecasters warn https://agapesgr.org/credit-card-debt-will-hit-nearly-70bn-in-the-next-six-months-forecasters-warn/ Tue, 03 May 2022 20:30:00 +0000 https://agapesgr.org/credit-card-debt-will-hit-nearly-70bn-in-the-next-six-months-forecasters-warn/ The number of people who admit to being ‘terrified’ by their financial situation has jumped 50% in just 12 months as the cost of living crisis worsens. Nearly one in three consumers now report this level of fear about their ability to make ends meet, according to a new study. Inevitably, low-income households and young […]]]>

The number of people who admit to being ‘terrified’ by their financial situation has jumped 50% in just 12 months as the cost of living crisis worsens.

Nearly one in three consumers now report this level of fear about their ability to make ends meet, according to a new study.

Inevitably, low-income households and young people are particularly worried, with nearly half of under-34s now describing the level of their financial fears in similarly stark terms – up from 29% at the same time last year.

A third say they will need to borrow money to survive in the coming months, despite the fact that the price of products and services is not expected to peak for several months, according to data compiled by lender CreditSpring.

It predicts credit card debt will hit nearly £69billion over the next six months – an 18% rise in total debt – as households struggle to keep up, despite concerted efforts to reduce .

Separate data released by the Office for National Statistics (ONS) in recent days shows that rising daily costs are now affecting 91% of the UK population, up from 62% six months ago.

In response, non-essential spending is reduced, millions of people have stopped making non-essential car journeys and a third are spending less on essentials. Two in five people now buy less food and more than half have reduced their gas and energy consumption at home.

But despite often severe attempts to reduce costs, shortcomings are now appearing at the national level.

Domestic energy debt has doubled to £1bn in a year, for example, USwitch warned last week, with a quarter of consumers now owing money to their supplier. Six million households owe their energy suppliers an average of £188, leaving them without a buffer to combat rising prices which are set to rise by another £600 in October.

“The cost of living crisis, recovery from the financial impact of the pandemic, or the explosion of unregulated Buy Now Pay Later products would have sent shockwaves through society,” says Theodora Hadjimichael, the network’s chief executive. finance, Responsible Finance.

“All three together are causing a seismic shift in the consumer credit market.”

According to the most recent figures from the Bank of England, UK individuals are currently borrowing £1.5bn each month on credit cards, and the total is expected to rise by another £9bn by fall – a calculation made even before the Russian invasion of Ukraine began to have economic repercussions here in the UK.

While one in six adults should be asking for a bigger loan, especially by credit card, they are doing so when they already have an average of 13% more debt than they did at the same time l last year.

“Credit cards will provide a lifeline to borrowers over the next few months. However, with millions of people relying on borrowing to survive, credit cards with high repayment terms and a high risk of spiraling debt are a high-risk option that could lead to increased debt for many households,” Neil Kadagathur, co-founder and CEO of Creditspring, warns.

“It is clear from the customer information in the [Bank of England’s latest] tracking financial stability that it has never been more urgent to scale up responsible lending,” says Hadjimichael.

“More than seven million people are financially excluded and their financial resilience is at risk. Responsible lenders are offering them a better and fairer alternative when they need to borrow, so this will be absolutely essential in the coming months of uncertainty.

As the demand for support grows, financial service providers need to ensure that borrowers have access to affordable credit options that do not put their financial stability at risk,” she notes.

And although there are 0% interest free credit cards, if a borrower does not pay off the balance in full, they will incur high costs and additional interest.

“Unfortunately, those who will rely the most on these products over the next few months are also those experiencing the most financial uncertainty,” Kadagathur says, pointing out that this means they are the least likely to benefit from the interest-free period. . .

“With millions of people across the UK having no choice but to borrow if they are to survive these incredibly difficult few months, it is essential to ensure that all households have access to a affordable credit,” he adds.

“Currently, there are up to 15 million people in the UK struggling to access traditional credit options – these are the people most at risk from unscrupulous lending practices and indebtedness.

“Lenders need to offer more support to borrowers and step up to offer the support that will be a lifeline over the next two months.”

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