Money Loan Without Contract

Loaning money without a contract sounds very tempting. Adverts, the internet, and even the street light columns are full of ads that offer a similar option. Such channels may be unsafe and unchecked when borrowing and borrowing can be very dangerous. You need to check the terms under which you borrow money, but also the source from which you borrow. Such solutions, where there is no contract, paper, and documentation, usually drag and drop money from insecure bills or even through a physical way, losing any trace of the money ever borrowed.

What all the pitfalls are hiding money without a contract?

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Banks do not offer money without a contract, but their clients require a formal contract, whether they are loans, loans or borrowings. This is ensured if the borrower does not respect the terms that he has signed in the contract. If such a contract does not exist, either side, whether it is a lender or a borrower, may lend the terms for borrowing money at its sole discretion. This means that everything can be changed, from the repayment period, the principal and even interest rates. And that is one of the bad sides of this way of borrowing money.

Better option than unreliable financial institutions are some Internet loans, as well as banks and other credit institutions that have the approval of the Creative Bank because they offer a safer way of borrowing money. Banks check their client’s creditworthiness based on their income, savings, and types of employment. Based on this, the client agrees with the bank on the terms of the loan, the methods and terms of repayment and the interest rate at which the borrowed money is returned.

The contracted funds are transferred exclusively to the current account of the person who has submitted the loan request. This reduces the likelihood of malpractice of a variety of types, such as lending money without a contract, and the borrower or borrower is informed in advance of what he expects from the repayment period, the interest rate and the manner of returning the borrowed money.

The contract should clearly state all the terms for borrowing money

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The contract with which the two parties need to agree should point out the loan amount, the interest rate, the type of interest rate and the period during which the borrowed amount should be repaid. The written footnote provides a transparent business for both parties and helps resolve possible appeals and court disputes.

Loaning money without a contract leaves no trace

 Loaning money without a contract leaves no trace

The biggest risk is lending money without a contract because there is no written record, so whoever lends money can say that money has never been borrowed or the other side, the borrower can say that the same money never got. It must be ensured that there is a written record of borrowing. This is proof that you have lent the agreed amount of money.

The contract protects the borrower or the borrower

It is best to borrow money without written evidence. Some credit institutions do not do so, but keep in mind that the contract protects the borrower or the borrower. You do not need to lend money until you have set clear terms. The contract is recommended before signing up to read well and seek legal advice or advice from a financial expert if not all clear. Smaller letters often hide traps and should be timely insured against unnecessary penalties.

Bank Business Loan Application

Entrepreneurs have been able to do quite well in our country in recent years, while we can see that some banks can really support young entrepreneurs. Great Finance Bank is able to provide support to many people who want to open a business with a loan .

Many people who do not have a project suitable for Gbank can also obtain a business loan from Great Finance Bank with favorable interest rates and high maturity options in order to open an ordinary workplace. Nowadays, paying monthly rent to open a business is not an attractive situation when Great Finance Bank has a business loan.

In today’s article, Great Finance Bank will give you information about the workplace loan , as well as how you can apply for a workplace loan.

Great Finance Bank Commercial Loan Features

Good Finance Bank Commercial Loan Features

Some of the features of the workplace loan offered by Great Finance Bank as an opportunity for non-business owners are as follows.

  • Credit is provided for individuals who want to open an investment or workplace, office, store and installment option is provided up to 120 months.
  • In order to receive the workplace loan, you can withdraw up to 75% of the value after the appraisal observation.
  • If you take a loan from Great Finance for the place where you want to take a business loan, the bank mortgages your business during the loan payment.
  • During the period you pay the workplace loan, compulsory earthquake insurance, workplace insurance and private life insurance are provided for your workplace.

Great Finance Bank Business Loan Interest Rates and Calculation

Good Finance Bank Business Loan Interest Rates and Calculation

Great Finance Bank has fixed a fixed interest rate of 1.17% for the business loan you have provided. While this ratio is quite successful when evaluated within the scope of 2017, it is worth noting that Great Finance Bank can change this ratio within its right. In addition, there are some additional fees that you have requested.

  • DASK : This insurance, also referred to as compulsory earthquake insurance, costs 47.13 TL.
  • Appraisal Fee : For the purpose of observation, the appraisal fee is 445 TL at minimum level and 1607 TL at maximum level.
  • Life Insurance : 108.19 TL with maximum / minimum change.
  • Mortgage Facility Fee : 118 TL with maximum / minimum change.
  • Workplace Insurance : Maximum / minimum does not change 180 TL.

Considering the above interest rate and pricing, the annual cost rate of the loan can be stated as 18.92%.

If you wish, you can calculate your credit by adding these values ​​yourself.

Documents and Conditions for Great Finance Bank Business Loan

Documents and Conditions for Good Finance Bank Business Loan

The documents generally requested by Great Finance Bank are as follows, but please note that the right of each branch to request special documents is reserved.

  • Identity card and photocopy.
  • If you have the income document or the deeds of the commodities you can show collateral.
  • Loan application form (available at the branch, can be filled out).

How to Apply for Great Finance Bank Business Loan?

How to Apply for Good Finance Bank Business Loan?

Applications for workplace loans can only be made through the Great Finance Bank branch. There is no possibility to apply for a loan such as general purpose loan via internet or SMS as there are documents that are requested from you and must be given first hand.