The basis for the bill is the net income of the main earner. Granted if the applicant can prove a regular income through an employer. a new loan calculator that compares different offers in Austria. Choose the loan amount and calculate the monthly rate. To borrow a second borrower with a regular income:
What is the loan amount that I pay out for which income?
There are a few points that must be considered to ensure that a loan does not become a debt trap. Serious lenders will protect themselves in advance by thoroughly examining your financial situation. If you think about taking out a loan, your income is also very important. In this post you can find out how much credit you can use to calculate your current salary.
Loans will be a further economic burden for you all the time. Therefore, a financial institution will consider your current financial position before granting a loan. Because each house bank wants to reduce its own dangers and ensure that the borrowed capital is returned. Therefore, before taking the relevant course and concluding a loan, you must also clarify your own economic situation for yourself.
If you have little resources available for a possible loan repayment, you must select or arrange the partial payments accordingly. So look for the right loan for your financial circumstances and land with a longer time. The credit comparison shows that you can pay out a loan amount of 5000 EUR with less than 50 EUR per month.
The validity of this offer is 120 months. If you can not forego more than this value and a loan is unavoidable, long-term interest will cost you extra interest every year, but the eradication will not ultimately overwhelm you in your funds. Always remember: Do you really need a loan amount or can not you also save the loan amount?
What is the purpose of the loan? If possible, avoid credits for a calculator or holiday here. Keep in mind that loans always affect your private credit points. How much time can you have to spend on long-term repayments as a “free wage” if you stay during the month? If a house bank calculates your loan amount, some points of your personal life situation are precisely recorded.
With a high income you will not be able to do much if it is offset by higher monthly expenses. Under the terms of the loan, your free monthly income must be high enough. The amount of all your expenses will be deducted from your total income. For many banks, the calculation is done by checking their accounts for the past three months for the amount of expenditure and income.
In addition, the unemployment benefit is not counted as income because it can not be used to repay loans. The following figure shows an example of the calculation of your available assets. Such an assessment may also involve different factors of influence from home to house in calculating the net disposable income available. The borrower receives after deduction of all fees a free income of 592 EUR per year.
Repayment of a loan
For example, this value could be saved or invested in the repayment of a loan. In the simplified calculation example in our tabular presentation, you as the borrower can obtain a personal loan of max. EUR 20000 with a 3-year maturity (36 months) expected. If you have spread over this 3-year loan period, you would have to spend almost € 556 of your “free” € 592 on monthly installments (without interest!).
To give you a first idea of the maximum amount that could be in your case, do the following: Calculate your free income per calendar month and multiply that by the term you imagine. Is your disposable income z. B. 100 EUR, you get 3,600 EUR over a period of 36 months.
Because there are interest rates during this time, it is better to start from 3,400 EUR or less as a guideline for your loan. The calculation is not binding, as each lender slightly different framework conditions in its calculation. If you have chosen a repayment term of more than 36 months, the maximum allowable amount of your loan increases with the duration of the repayment period.
But also the risk of default, ie the risk that you can no longer afford the repayment installments for the loan, increases. In the midst of which you would relieve, would be the following: You use the maximum credit line for 3 years, but in return extend the repayment period. If possible, always refrain from doing so, as the calculation takes into account that you should spend as much of your disposable income on the installments as possible.
You must be aware that your income may increase little or no during the duration of the measure. In addition to the available income, the banks must also include the individual circumstances of a borrower. A positive private credit mark and a permanent job with a permanent contract shows that you are a relatively risk-free candidate for a loan.
If you work as a freelancer, financial institutions will usually solicit their income tax assessments and obtain a business valuation before granting the loan. In addition to the desired size and the preferred operating time plays a minor role. Although a period of 3 years is a relatively reasonable period for the repayment of the money by the house bank, a repayment period of 6 years leads to a theoretical doubling of the risk that you may be in default.
In principle, however, a longer term of the payment obligation argues for a higher credit line. This makes your loan project even more expensive, but minimizes bank risk. However, such protection is hardly reasonable for installment loans, but under certain conditions for larger loans such as real estate. If you are interested in a loan but have low income, you have the option to use the following three options:
There is a guarantor whose creditworthiness meets the requirements of the house bank. You can also bring tangible assets as collateral for the credit worthiness of your house bank. Finally, you can choose the duration so that you can achieve your goal, the loan, even at low leasing rates. In the case of a guarantee of default, on the other hand, the lender must first ensure that “nothing more is available” from you before turning to your guarantor with complaints.
If you have valuables that you can transfer to the house bank in the form of a “pledge,” your credit chances increase, even if your income is too low. The house bank only needs a guarantee that can turn it into cash if you can no longer repay tranches. Therefore, your collateral should be easy to sell and match the value of your line of credit.
Your car is for example just as suitable as a property, jewelery or a saved additional insurance. Always make sure that you get a fixed interest rate when you offer a credit. The interest rate level is currently low, which is why loans are also quite affordable. For example, with a loan over 5 years, a variable interest rate is risky, as it can disguise a cost situation.
Fixed rate loans prevent you from having to pay excessive interest rates in the future. There are fees charged per calendar month that can take you unnecessarily much time. In this way, you can mitigate your loan liabilities with certain annual special payments. To put it plainly: If you have eg a debt of 12,000 EUR and have saved 2,000 EUR on an account, you can settle this.
Take the amount of money from the bank account and thus reduce the debt from EUR 122,000 to EUR 110,000 in one go. Those who believe that they usually receive a high-paying loan are initially mistaken. The lender calculates the realistic (maximum) loan amount based on disposable income.
In addition, the loan amount and duration, the employment relationship or the private credit score also plays a role in the creditworthiness and thus also in the size of a possible loan. The loan amount may be influenced by the borrower in his favor by means of collateral or an appropriately selected repayment model. For the latter, it is better to have a somewhat longer term with increased expenditure, but to adhere to the principle of proportionality.
So if you have a credit, then at least so that it does not lead to economic bottlenecks or even ruin. Always remember that the house bank has you in your pocket and find ways to earn your own capital. How much credit can I get? Every credit company has different requirements. A good credit rating as well as the installment you can afford or a positive private credit rating will help with a loan request.
Always use the annual interest rate as a basis for comparison and calculation. This includes all ancillary acquisition costs included in the loan and is included over the term of the loan. You should therefore be able to repay with your free funds without incurring debt. Where can I improve my credit prospects? With X’s targeted balance, the more you pay, the cheaper the prices become.
This also contributes to a lower income. In addition, you can reduce your bank risk if you can provide a guarantor or certain valuables as collateral.