Insurance in Installment

A new brand has decided to enter the market, innovative product.

Every year, an increasing number of Poles decide to use a private health package. The report of the Polish Insurance Association indicates that in 2017 there were as much as 30 percent. more than the previous year. As much as 59 percent. however, the number of private individuals who have benefited from special, dedicated packages has increased.


Installment insurance

Installment insurance

A popular non-banking company that offers installment loans in the amount of PLN 800 to 15,000. Currently, the brand, as the first loan company on the Polish market, has decided to expand its offer with a dedicated Medical Care Program. A product that combines a loan and a package of professional medical services. You can use it from the beginning of this year.

A package of medical services that was prepared jointly with the consulting company MEDIHELP. It allows constant access to professional medical care, with an unlimited number of medical consultations specialists from eight different fields (internist, family doctor, allergist, cardiologist, gynecologist, urologist, general surgeon, ophthalmologist), with laboratory and diagnostic tests in over 300 private outpatient clinics throughout Polish.

The medical package is offered in the form of classical medical care, and not as a form of insurance. By introducing this innovative solution, the company wants to better meet the needs of its clients and take care of their condition in many aspects – both financial and health.


How to join the program?

How to join the program?

To use the program, you should be a hapiportal customer, fill in a dedicated form, enter the SMS code and make a transfer. The cost of the product, which provides us with private medical care and access to specialist doctors at the highest level, is PLN 25 per month. This gives a sum of PLN 300 for an annual package. Regulations and the scope of the Medical Care Program are available on the dedicated website.


Know all the Costs of Home Loans

Interest rate, insurance, commissions and taxes. Once you have found the house of your dreams at the best price for your wallet, there are a number of expenses you should consider during the process to determine whether or not this is the right choice for you. If you are thinking about buying a property it is important that you know all the costs that await you and do the math so as not to be caught unawares during the process. Get to know them.


1. Interest rate

1. Interest rate

In a simplistic way, it can be said that the interest is the price of money, that is, the interest rate is the amount that the bank charges you for lending that amount, according to information posted on the Customer Portal Bank officer. This rate is composed by the index (Example: six months) and the spread. The interest rate can be fixed or variable. If you choose to borrow a fixed rate mortgage, it will remain unchanged for the contracted term. However, if you choose the variable rate, the monthly amount will vary depending on the evolution of – the reference for credits in Portugal. By choosing the variable rate, you can choose the term, with the most common being three and six months. This means that if you choose the three months, the value of the fee (and the monthly installment) will be reviewed every three months. In this case, if the interest rate goes up, the monthly installment increases, but if you go down you will pay less.

As a rule, in fixed-rate housing loans, the interest rate will be higher than the interest on variable rate loans, since the client is paying more not to live in the uncertainty of the oscillation of the monthly installment. The fixed interest rate can protect the client when the is high, as happened when in October 2008 the reference rate to three months reached its highest ever: 5.291%. However, it does not allow the customer to enjoy the descents of this indexer. To get a sense, in October 2014 the was situated at 0.082%. For more information on consult the website.


Example of  influence on the provision:

The example takes into account a mortgage loan of 100 thousand euros, payable in 30 years and with a spread of 1.5%. In April 2003, the three-month was 2.5% (TAN – Nominal Annual Rate – 4%), and the provision was 477 euros per month. In October 2006, the reference rate was 3.5% (TAN – 5%) and the benefit was 537 euros per month. In January 2008, was at 4.5% (TAN 6%) and the installment was 600 euros.


The rates on mortgage loans

The comparison of housing loan proposals should not only be based on the interest rate, but should take into account all their costs. To do this, you should be well aware of the fees that will be presented to you in the FIN (Standardized Information Sheet).

TAN. The Annual Nominal Rate includes the reference rate plus the applied spread.

TAE . The Annual Effective Rate includes the total costs of the loan and includes the , the spread, insurance premiums contracted and other expenses, for example, the opening of proceedings, property valuation or processing of benefits. Taxes are not considered at this rate.

TAER. If you contract other financial products or services as a counterpart to have a bonus on the spread, you should analyze the Annual Effective Annual Rate, which already incorporates the costs associated with these products purchased by option.


2. Compulsory insurance

If you borrow money from the bank to buy a home, the institution will apply for life insurance in which the bank is the beneficiary. This insurance aims to ensure that the insurer pays the debt to the bank if the borrower dies or becomes invalid. In addition to this insurance, the bank also requires multi-hazard insurance to protect the home and the damages it may suffer. This insurance must cover at least the risk of fire.

It is not mandatory to hire these insurance in the bank where you will make the mortgage loan, as long as the policies contemplate the minimum coverage required for the conclusion of the credit agreement. However, it is common for banks to offer a reduction in the spread with the counterpart of subscribing the necessary insurance in the bank. It may be advantageous, however, to analyze TAER in order to understand the real costs and to analyze the impact of the insurance premium on the total cost of credit. This information should be included in the Standardized Information Sheet (FIN).


3. Commissions

3. Commissions

Apart from the interest rate and compulsory insurance, there are other costs that are borne by those who make a mortgage loan. Here are some, according to information from the Portuguese Association of Banks.

Dossier Commission: It may also be called an opening or study committee. Whatever the name, it includes the costs of credit preparation and analysis. The amount varies from bank to bank and, as a rule, is influenced by the valuation value of the property.

Evaluation Committee: Whenever you resort to a mortgage loan, the property will be the subject of an assessment, made by a company, that will serve to determine what the property value in the real estate market. It is this amount that will set the amount that the bank is available to lend. For this evaluation, the client pays a commission.

Management fee : As a rule, this commission covers the cost of the benefits process. As a general rule, the amount payable corresponds to a fixed amount.

Depreciation commission: If you want to partially or totally amortize the mortgage loan, you may be charged a depreciation commission (or fee). The Law establishes that this commission may not exceed 0.5% of the capital amortized in financing contracted at a variable rate and 2% in the case of a fixed rate.


4. Payments to conservatories or notary offices

4. Payments to conservatories or notary offices

Provisional and definitive registrations

When applying for a bank loan to buy a house, two provisional registers – transmission and mortgage – are required before writing. This will safeguard the interests of both parties, namely, who will buy the house, so as not to run the risk of being overtaken by other requests, more advantageous to the seller, that may affect the same property.

According to information provided by the Institute of Registries and Notaries, these provisional registers are valid for six months. After this period, if the registration is not required to be definitively converted, its validity will expire. It should be noted that if the contract is made through the Casa Pronta Service, there is no place for these provisional registrations.

After the deed of purchase and sale and mortgage, the bank will convert the provisional records into definitive. For these services rendered in the Land Registration Conservatories are emoluments.


5. Taxes

5. Taxes

IMT (Municipal Tax on Real Estate Transmission)

Once the date of execution of the definitive deed has been completed, it is necessary to proceed with the payment of the Municipal Tax on Onerous Transmissions of Real Estate. This tax applies whenever there is a change of owners of a property and there is exchange of money. That is, if the transmission is free (inheritance or offer, for example), there is no place for IMT. See IMT rates here.

IMI (Municipal Tax on Taxes)

This tax is levied on the property tax value of real estate located on Portuguese land and reverts to the municipalities where they are located. They are, moreover, the municipal councils that decide what the rates to apply, within the interval stipulated by the Code of the Municipal Tax on Properties. This tax is paid annually.

The year 2015 provides for changes in this tax. The safeguard clause will cease to exist, which means an increase for all properties that have been reevaluated between 2011 and 2012. On the other hand, more families will be exempt from paying this tax, since the gross income ceiling to 2.3 times the annual value of the IAS, that is, 15,295 euros.


Stamp duty

This is another cost to consider in the home buying process. It is a tax that is settled at the time of writing and that focuses on the acquisition / deed value of the property and on the value of the loan made available by the bank. It has a rate of 0.8%. If the property is donated is still subject to Stamp Tax at the rate of 10%, which makes a final rate of 10.8%. The exception to this rule is the donations of real estate effected between united de facto, spouses, descendants or ascendants. In these cases the applicable rate remains 0.8%.

Interest on loans granted for acquisition, construction, or self-housing (permanent or secondary) is exempt from Stamp Duty.



Credit Redemption – Simulation Loan Consolidation


The financial group that has existed on the market since is in partnership with BNP Paribas and offers several financing services; in part known for these renewable loan consolidation available in supermarkets; to French and European customers.

proposes in particular its redemption form, what are its advantages and disadvantages, we take stock?


The conditions of the  loan buyback


The buy-back is used by people in financial difficulty following a loan and those whose financial institutions reject their application for loan for consumption. It is generally used to reduce the rate of over-indebtedness and to enjoy the rest to live interesting.

offers a wide range of loan combinations to help individuals consolidate any type of loan in order to reduce their monthly payments by up to 60%.


The rest to live, what is it exactly?

The rest to live, what is it exactly?

By definition, the remainder to live is the rest of the money that a person has, after paying all the bills of the month (bills, repayments of loan , conventional charges for example food). Basically, it is supposed to be “economy of the month”, because generally, it is used for cases of extreme emergencies (car breakdown) or to have fun.

helps its clients to consolidate all their debts, which means that all the remaining debts will be consolidated into a single loan that agrees to pay and for several years. Customers will only have to repay only one debt. It frees its customers from any commitment by buying back their consumer loan from other financial institutions but also the revolving loan and others contracted with themselves. Moreover, specifies that all the loan can be bought back, but not only the mortgage. Note that the cancellation fee is included in the redemption.

plays mainly on the interest rate, the more it decreases, the more the amount to be paid monthly decreases. To reduce it even more and at the same time to assert the purchasing power, the duration of the loan plays an important role, because it reduces to the maximum the price to be paid every month. But, we must still remain vigilant.

In the case of a mortgage, the property is mortgaged. The engagement is done manually at the notary and it is necessary to include the expenses of the notary on the total of the loan.


Loan redemption simulation online

Loans online

It is possible to perform a loan redemption simulation online on their website to obtain a quick eligibility response. An easy way to make a simulation and know the benefits of the loan consolidation. Moreover, Internet users will have an answer within 4 hours with a competent advisor who can answer all questions.

Following the online request, customers can apply for funding to get an idea of ​​the solution that can be provided to them and define the overall cost of the operation. For more information, ‘s customer advisers can be contacted directlyt.


Installment Loans – Financial Needs

Holding financial at the beginning of this year expanded its offer by installment loans, which can be taken on the


Holding financila is constantly working on expanding its offer and improving the quality of services in such a way as to best meet the financial needs of consumers.


The Financial Holding releases a new brand

The Financial

 The beginning of 2017 means big changes. In the interests of the financial situation of its clients, the Holding has supplemented its range of financial products, in which short-term loans have been dominant until now. At the beginning of this year, also began to issue installment loans.

  • At the turn of the year, we began issuing installment loans. This is the next stage of our development strategy. Loans up to PLN 3,000 are granted under a new brand of our financial group under the name.


The financial needs of Poles

The financial needs of Poles

The installment obligations are to meet the needs of those who care about quick cash combined with a low monthly installment. Supplementing the offer of the cash register with non-bank loans of this type may result in the creation of high competition for financial products taken so far in the bank. Their main disadvantages were complicated procedures and a long waiting time for funds.

– The characteristic “F” in the name means to our customers: more, longer, better. – says Margita Kaczmarek, President of the Board of Surat, which owns the brand. – This is just the beginning of the planned expansion for this year. – announces Margita Kaczmarek. Holding Finansowy does not intend to rest on its laurels and only to develop this one brand. The priority for the entire entity is a constant extension of the product offer, improvement of the commitment process as well as the creation of a positive image of the non-banking sector.


All About Refinancing Installment Loan

Everything about refinancing the loan

Refinancing a loan is more common than it may seem, although many customers still do not know how and when the entire procedure can be started. It is a pity, because it is often a salvation in trouble! Do you know everything about refinancing the loan? We invite you to the article.

From the article you will learn:

  • What is the refinancing of the loan about?
  • How does loan refinancing work?
  • Where can I find the most convenient online loan?

Applying for a loan and smiling at her when she already has an account is simple and until there are no problems with her repayment, everything is fine. But what to do in a situation when the whole plan starts to fall into pieces? That’s when the refinancing of the loan comes into play. What it is and how it works – read about it below.

Are you looking for a loan up to PLN 5,000? Check out what we offer!


Do you know everything about refinancing the loan?

Do you know everything about refinancing the loan?

Sometimes, when you take out a loan, there are problems with its repayment. It is never a pleasant situation, but the worst thing you can do is to avoid paying your debts. One solution is to use the loan refinancing service.

Refinancing a loan is (in the simplest terms) taking out a loan to repay the previous one. However, do not confuse this with the typical start of screwing in a debt spiral ! Because it is usually part of the services offered by loan companies, refinancing is much safer – above all, the lender has a clear situation and knows that the money he transfers will be used to repay another loan.


How refinancing the loan works

How refinancing the loan works

Let us present the situation on an example. Mr. Jan took a free loan at company X in the amount of PLN 2,000 for 30 days and nothing predicted the trouble of repaying it. Along the way, however, unexpected financial problems arose and Mr. Jan knew that he would not be able to repay the amount due in time. So he contacted company X, who suggested that he would find another company for him, which would give him a loan specifically for the purpose of settling the debt. In this way, thanks to the loan from the Y company spread into convenient installments, Mr. Jan paid back the company’s commitment of PLN 2,000 on time, and the company Y will give them a more convenient, on the basis of the current financial possibilities.

Importantly, the money from Y goes to the company X directly, without the participation of Mr. Jan. Therefore, he can not have a Y loan in any way. Thanks to that, however, his credit history will not be tarnished, and if he will repay regularly the Y loan, he will even build a positive loan image.


Installment loans

Installment loans are probably the most convenient loan, the rules for granting and repaying are clear and beneficial. Just a few clicks and the application is already being processed. You can borrow from 1000 PLN for 8 months, up to 5000 PLN for up to 30 months. And if anything undesirable happens and for some reason it will not be possible to repay the loan on time? It does not matter – just contact the Customer Service Office. The lender will do everything to propose the most beneficial solution for both sides!


How Can I Manage my Home Loan or Other Credits

It is easy to manage your housing credit or other credits. However, it is important to understand how the monthly installment of housing loans works, since this is a often misunderstood topic.

The loan


When you acquire a property (or other asset), the bank grants you a loan that you use to pay the seller at once – an expense in the value of the property. This loan will be credited to an account (a credit) with a negative balance – corresponding to the amount borrowed – that has certain payment conditions (rate, term, etc.) in the form of a monthly installment.

Thus, a loan must be entered into as a normal account but with a negative balance , as will be explained below. In other words, your total financial assets (the sum of all your bank accounts and credits) may in many cases be a negative value.

Do not be scared to look at the negative balance – this is just the balance of your financial assets. The property you acquired has a certain valuation (usually higher than the loan amount), which in addition to your financial assets will balance your balance.

The provision

The provision

Many people interpret the payment of the monthly installment as a cost that is imputed to them by the bank – “The bank charges me € 300 every month.” However, the provision is typically composed of two – or three – components:

  • Amortization : consists in reducing the value of your debt
  • Interest : consists of a fee charged by the bank for borrowing the amount owed
  • Other : In some cases, the installment may have other expenses inherent, such as stamp duty

That is, the 300 € of the installment corresponds to the sum of the amortization (ex. 200 €) with interest (ex. 99 €) and other maintenance expenses, when they exist (ex. 1 € stamp duty).

The amount of amortization and interest varies depending on the amount owed, the rate in force, the term of the debt, and other variables, and at certain times the interest may be much higher than the amortization, or vice versa.

The amortization

The amortization

Amortization should not be seen as an expense, but rather as a decrease in the amount owed – that is, whenever it amortizes, it is owed less. This debt repayment is done in the form of a transfer from your order account to your credit account. If, in a payment of € 300, € 200 corresponds to the repayment, your current account will be € 200 less, and your loan with a further € 200. You will have less money in your pocket, but you should also have less than € 200.

In other words, these 200 € never left their financial assets – they did serve to reduce the debt they contracted to buy their property. They should not therefore be seen as an expense.

At , the amortization should be recorded as a transfer from your current account to your credit account, as explained below, so that it does not go into the reports as an expense. Do not worry: you’ll be able to see it in your reports if you want, as we explain later.



Interest is the fee charged by the bank for the loan being issued. Monthly, according to the amount you have in debt, the term, the rate you have chosen (usually, Euribor-xM) added to the spread, among other modalities. That is, whenever you repay your debt, the interest charged to you in the following month decreases (considering that the Euribor has not changed).

If, in a payment of € 300, € 99 corresponds to interest, your current account will be reduced to € 99. The interest should be seen as an expense , which is charged by the bank where you contracted your credit.

Other expenses

Other expenses

The monthly installment may, in addition to interest and amortization, still have other components – for example, Stamp Duty, or, in some cases, insurance diluted in the installment. In this case, you should record each of these components as expenses. If you pay a further 1 € Stamp Duty, you must register it as an expense with the Ministry of Finance.

In summary, the provision …

In summary, let’s say you paid a benefit of € 300:

  • € 200 will be amortized , recorded as a transfer between accounts
  • € 99 will be interest , recorded as an expense with the bank
  • € 1 will be of other charges, for example, Stamp Duty, recorded in the form of expense

300 € = 200 + 99 + 1. Thus, the best way to register the installment is to separate your components and register in the each one separately. Your bank should be transparent and allow you to see in your Online Banking the corresponding € 300 you paid.

How to manage credit?

How to manage credit?

This is the easy part. You must first create the account for your credit:

  1. Log in to your online banking, and see how much you owe in debt
  2. At , enter an account. Click Accounts in the Setup menu, and then the Create Account button
  3. Fill in the amount due ( negative ) and enter today’s date

Every month, when you pay the benefit, you should consult in your statement the components that make up your benefit. And with these:

  1. Insert a transaction of transfer from the current account to the credit account with the amount corresponding to the amortization
  2. Enter an expense transaction in the current account with your bank as an entity, and the Bank Expenses: Interest (or other)
  3. If there are other expenses diluted in the installment, insert other transaction (s) of expenditure related thereto

After entering the values ​​above, the balance of your current account must have decreased the amount corresponding to the installment, and the balance of your loan should have increased the amount corresponding to the amortization.

And when do I import the extract?

And when do I import the extract?

If in the extract of your bank only the total value of the installment appears after importing, you must:

  1. Edit the transaction corresponding to the installment, and change the value so that it only includes interest
  2. Manually enter a transfer transaction corresponding to the depreciation amount

In some banks, the current account statement shows the total value of the installment, and in the loan account statement the separate components appear. In this case you should:

  1. Import the statements from the two accounts
  2. Manually change the transaction corresponding to the installment to a transfer.

Analyze the data

Of course, it does not need to go as much detail as we have here proposed. However, if you do, you will have much more accurate reporting and greater flexibility in analyzing the data. For example, by moving the active accounts in the box at the bottom left, you can:

  • Enable all accounts. In all reports you will see the actual value of bank charges, ignoring depreciation.
  • Enable all accounts except your credit. In the Cash Flow report, you will see, separately, the amortized amounts (transfers) and interest (expenses)
  • Disable all accounts except your credit. In the “Evolution of the balance” report you will see your credit balance decrease over time, which helps you to see the evolution of depreciation


Know Your Home Loan Well

Home loan agreements can last for a lifetime, so it is extremely important to know the meaning of many of the more complicated terms in the contract before signing the loan for the purchase of your home. Good guidance and clarification on some key concepts could be the gateway to a smooth home loan agreement. We shows you some concepts that can make a difference.


Home Loan

It is the most important rate for your home loan if you have chosen a variable rate loan. The  rates are based on the average interest rates that are practiced on interbank lending, in the Euro zone, among 57 banks. In its calculation, 15% of the highest and lowest rates are always excluded. Interest rates are publicly disclosed at 11 am (Central European Time), usually the 10 o’clock in Portugal. The rate most used in mortgage loans is the rate with the term of 6 months.




Mortgage, in essence, presupposes that there are two elements: a loan contract and a loan guarantee. This actual guarantee gives the money lender the ability to guarantee repayment of the amount borrowed.


Real Estate Management

Real Estate Management

The installment is the value that the borrower pays to the lender for the mortgage loan. It is divided into interest and capital (amortization of the loan amount). There are also two types of benefits that vary depending on their value. If the value of the benefit evolves over a life-span of the loan agreement, then it will be a progressive installment. If the value of the benefit is constant throughout the loan, only changes in the interest rate in its revisions, it will be a constant installment.




Amortization is the amount paid by the customer to the financial institution, only for the total amount of the loan requested. That is, it is part of the outstanding capital that enters into the value of the installment. The most used system in Portugal to calculate the amortization is French, which is governed by the fact that less capital and more interest are paid at the beginning of the loan, with the opposite situation at the end of the contract. It may also repay a portion of the capital out of the agreed terms, in which case a partial amortization.




The spread is the percentage that financial or banking institutions add to the interest rate, usually at the Euribor rate. The value of the spread depends on several factors, such as the total amount of the loan, the property valuation, the portfolio and the risk profile of the client or even the subscription of some banking products in the financial institution.


Annual Effective Rate (APR)

Annual Effective Rate (APR)

The Annual Effective Rate (APR) is the main rate for comparing the various proposals among the banks for your home loan, since it is through the APR that all the costs associated with the loan you are requesting are presented and weighted, of nominal interest, insurance, valuation expenses, among others. The APR is the interest rate that most closely approximates the cost of credit at the real cost to the customer.


Interest rate

Interest rate

There are two types of interest rate schemes that you can use in your home loan agreement. The most widely used is the variable interest rate, which usually follows the evolution of Euribor rates. If you decide on the fixed interest rate, the same rate is fixed throughout the loan, unless you decide to negotiate the terms of the contract with the institution that granted the loan.