Consolidation of loans from Lender bank is not only available to all ordinary citizens, but also to those interested in consolidation from the self-employed. Lender Bank offers a combination of several different loans and credits up to USD 500,000. The maturity can then be chosen within the range of 12 – 60 months (ie 1 – 5 years). The basic prerequisite for consolidating loans with Lender bank is a minimum net monthly income of over USD 15,000.
If you have multiple loans, then loan consolidation serves to consolidate all these financial commitments into one big loan. While the amount of money you owe will not change, but now instead of paying several different installments, you pay only one.
Advantages of loan consolidation include the fact that, due to the consolidation of loans, the resulting repayment for all liabilities may be lower than the sum of the repayments you are now paying. In practice, it works so that the bank that will carry out the consolidation of loans will pay for you all liabilities with other banks or financial companies. You will then only have one loan, which you will continue to repay.
If you are interested in payday advance consolidation, then the lender https://www.onepayday.com/payday-loan-consolidation/ requires you to be at least 18 years of age. Furthermore, a minimum net monthly income of at least USD 15,000 is required. Self-employed persons can also apply for loan consolidation from Lender bank. For them, the bank requires the business to last at least 2 years. (for employees of permanent employment for an indefinite period, the bank requires a minimum period of employment of 3 months).
Loan consolidation by Lender bank offers the possibility to consolidate all your credit commitments in the range of USD 50 – 500 thousand. The maturity of the new loan can range from 12 to 60 months. The minimum interest rate for this new multi loan will then be 7.69%.
Lender bank will charge a one-off fee of 1% of the provided loan for the consolidation of loans (the minimum amount of this fee is set at USD 500). Subsequently, in addition to the regular installments and interest according to the agreed repayment schedule, you will pay the Bank a regular annual fee of USD 600.
Also, for this type of consolidation, Lender bank does not require any real estate collateral or pledge. Money for consolidation is provided only on the basis of the required minimum income.