Canadian stock market – Scbwi Canada http://scbwicanada.org/ Thu, 21 Oct 2021 11:11:38 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://scbwicanada.org/wp-content/uploads/2021/06/icon-4-125x125.png Canadian stock market – Scbwi Canada http://scbwicanada.org/ 32 32 New Global Online Lending Services Technology Market Report https://scbwicanada.org/new-global-online-lending-services-technology-market-report/ Wed, 20 Oct 2021 12:00:05 +0000 https://scbwicanada.org/new-global-online-lending-services-technology-market-report/ Latest report on Global Online Loan Services Technology Market 2021 to provide a better understanding of overall market analysis and valuation under one roof. The report researches market dynamics through historical growth line, current conditions, and future growth prospects. Thus, it can be observed that the report provides every detail of the past to the […]]]>

Latest report on Global Online Loan Services Technology Market 2021 to provide a better understanding of overall market analysis and valuation under one roof. The report researches market dynamics through historical growth line, current conditions, and future growth prospects. Thus, it can be observed that the report provides every detail of the past to the future prospects of the market for the in-depth knowledge of the readers, especially the investors. The information included in the report helps to form a solid foundation for future projections during the forecast period. The report also presents the opportunities and challenges along with the drivers and restraints that are having a major impact on the growth rate of the Online Lending Service Technology Market.

The major market players presented in the report include:

Upstart, Funding Circle, Prosper, CircleBack Lending, Peerform, Lending Club, Zopa, Daric, Pave, Mintos, Lendix, RateSetter, Canstar, Faircent.

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This sample report includes:

  • A brief introduction to the research report.
  • Graphic introduction of regional analysis.
  • The best players in the market with their revenue analysis.
  • Selected illustrations of market overviews and trends.
  • Examples of report pages.

The Online Loan Services Technology Market report demonstrates the competitive scenario of major market players on the basis of sales revenue, customer demands, organization profile, business tactics used in the market that will help emerging market segments make vital business decisions. This study also covers company profiling, product specifications and image, market share, and contact details of various regional, international, and local vendors of the global Online Lending Service Technology Market.

Impact of COVID-19:

Customer behavior has changed across all sectors of society amid the COVID-19 pandemic. For their part, industries will have to restructure their strategies in order to adapt to changes in market supply. This report offers you an analysis of the impact of COVID-19 on the Online Lending Service Technology market and will help you plan your business according to new industry standards.

Regional Analysis Of Global Online Loan Services Technology Market:

North America (United States, Canada and Mexico), Europe (Germany, France, United Kingdom, Russia, Italy and rest of Europe), Asia-Pacific (China, Japan, Korea, India, Southeast Asia) East and Australia), America (Brazil, Argentina, Colombia and the rest of South America), Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, South Africa and the rest of the Middle East and Africa)

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The big picture can never be overlooked in a report. It is therefore a well-researched subject that includes supply and demand facets, case studies, international regulations and much more. Understanding the scope of a business / market segment or even a product category, in the current market environment, is a step towards planning for future business expansion. Deciphering the trends in the Ultrasonic Thickness Gauges market and doing a company’s self-analysis within the context of the local market as well as the global market are crucial planning activities around the brand or in building a business. a brand or even in the repositioning of the brand.

Objectives of the Online Lending Services Technology Market report:

  • Global Online Lending Service Technology market size analysis on the basis of value and volume.
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  • Study manufacturing processes and costs, product prices and various related trends.
  • Showing the performance of different regions and countries in the global Online Lending Service Technology Market.
  • Forecast the market size and share of all segments, regions and the global Online Lending Service Technology Market.

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Follow These Tips Before Applying For A Bad Credit Loan Online https://scbwicanada.org/follow-these-tips-before-applying-for-a-bad-credit-loan-online/ Wed, 20 Oct 2021 12:00:00 +0000 https://scbwicanada.org/follow-these-tips-before-applying-for-a-bad-credit-loan-online/ Today, many bad credit borrowers do not turn to traditional lenders when they need to borrow money. This is because their chances of getting a loan from traditional banks and credit unions are slim to none. Traditional lenders have strict credit requirements, and people with bad credit are usually turned down from their loan applications. […]]]>

Today, many bad credit borrowers do not turn to traditional lenders when they need to borrow money. This is because their chances of getting a loan from traditional banks and credit unions are slim to none. Traditional lenders have strict credit requirements, and people with bad credit are usually turned down from their loan applications.

Instead, bad credit borrowers now search the internet for loans. This is the go-to option for many people with bad credit because besides online lenders allow borrowers with bad credit to borrow money, their loan products are also very convenient. to obtain.

However, you should also be careful of the risks of getting bad loans online. Here is a list of tips to minimize these risks.

Do some research

It is now easy to get information on almost anything thanks to the Internet. If you want to know something about bad loans online, for example, you certainly won’t find this a problem since many lenders operate their businesses online today. Your Google search on this topic will surely generate tons of articles.

For example, you can learn more about the average interest rates for bad loans today. It is also advisable to know about the other requirements that online lenders look for in a borrower with bad credit. Finally, research information about trusted online lenders as many online lenders charge exorbitant interest rates and fees.

To avoid predatory lenders, be sure to search for reviews or testimonials online about the online loan company you are going to apply for a loan from. The online lender’s website can also give you some clues regarding their reliability. Avoid too good to be true offers as much as possible, as this is more likely to be a fraud.

Know and understand the risks

Yes, it is easy to identify the benefits of online loans for bad credit. However, it is rather foolish to simply ignore their risks. Some borrowers fail to weigh the risks, such as the high annual percentage rates that almost seem like they are throwing themselves into financial damnation.

You can find many people who have a hard time paying off their debt because they don’t consider the risks of getting a loan.

Consider your finances

It is a good idea to consider your finances before applying for a bad credit loan. This way you will have an idea of ​​how much you need to borrow and if you can afford it based on your monthly income.

You need to consider your average monthly income, monthly expenses, and / or financial debt. After looking at these data points in your finances, you need to make sure that the loan amount that you should get should not weigh down on your current finances.

Checking your finances is crucial because bad credit loans are not cheap. They may have higher annual percentage rates than regular loans. You can expect these higher rates since the borrowers for these loans are high risk. As such, make a wise financial decision by first examining your current finances before applying for a bad credit loan.

If you think that getting a bad credit loan is not affordable, you can look for other ways to borrow money. There are guarantor loans, peer-to-peer loans, secure online loans, or you can borrow money from friends and family.

Speak with your lender

Prepare your questions before discussing the loan terms with the lender. There are pieces of information that only your lender can answer. You need to know the interest rate, requirements, due date, additional fees, etc.

This is also a great opportunity for you to get information about any discounts or offers that may lower the cost of the loan. Your lender is ready to answer any questions you want to ask. So don’t hesitate to ask questions!

Get a loan that improves your credit

Although you can now get a loan despite having a bad credit rating, you don’t want to remain a high-risk borrower for the rest of your life. While it’s still early days, you need to make sure you build or repair your credit to take advantage of low interest rates and get rid of the hurdles that keep you from getting an affordable loan.

There are bad loans that help you correct your credit score. Once you are approved for such a loan, make timely payments to improve your credit.

To take with

Bad loans have their advantages, but they also come with financial risks. Before you apply, remember to know the risks, do your research, and consider your finances. Check out the tips above for help.

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How To Get A Loan Safe Online – Conditions You Need To Know Before Applying https://scbwicanada.org/how-to-get-a-loan-safe-online-conditions-you-need-to-know-before-applying/ Tue, 19 Oct 2021 16:27:09 +0000 https://scbwicanada.org/how-to-get-a-loan-safe-online-conditions-you-need-to-know-before-applying/ If you are looking for a new way to finance the home or car of your dreams, you may want to consider dealing with online loan companies. With an average online loan varying between $ 500 and $ 5,000 at any given time, this is no easy task. An online loan can be your ticket […]]]>

If you are looking for a new way to finance the home or car of your dreams, you may want to consider dealing with online loan companies. With an average online loan varying between $ 500 and $ 5,000 at any given time, this is no easy task.

An online loan can be your ticket to financial security, but not all loans are the same. Read this article to find out what to watch out for and how to get a loan online safely.

What is an online loan?

An online loan is a loan that you apply for over the Internet. It can be a secured or unsecured loan. Secured loans include bank lines of credit, homes, cars, etc. Unsecured loans are prepaid debit card payday loans, personal lines of credit from banks and other financial institutions. Online loans are much easier to obtain and the interest rates are generally lower than conventional loans. This is part of the reason why they have become so popular in today’s society.

How do online loans work?

To apply for a loan online, you will need to complete an online application form. This form will ask for your name, address, social security number and a description of the item you wish to fund.

You may also be asked to provide your bank account or credit card information in order to obtain funds from a financial institution if you do not have sufficient equity. Once you’ve filled in all your personal information, click Submit and wait for someone on the other end to review it.

It can take from a few minutes to a few days depending on the activity of the company. Once your application is approved, you will be given specific instructions on how to repay the loan if you need legal help to determine if this is the best deal you can make.

How To Get A Loan Online Safely – 5 Conditions You Need To Know Before Applying

If you want to get a loan online and use it to finance your house, car, or other important property, there are some precautions you will need to take. Even though it’s easier than ever, there are still risks associated with obtaining a loan online.

Check your credit score

The first and most important step is definitely to check your credit score before applying for a loan. Credit scores assess the creditworthiness of individuals and businesses in the United States. They can help you determine how much interest you owe on loans and the overall amount of credit extended to you by lenders over time.

You can get your credit score by using any of the free online credit score services available. These typically report your score in less than 30 seconds. If your score isn’t high enough, you’ll want to improve it before you apply to increase the chances of getting approved for a loan.

Consider your options

Another important step is to compare different loan offers online. This can be done in a number of ways, including comparing interest rates, repayment terms, fees, and many other variables specific to each loan company or bank you deal with. This can help you make a better decision on which loan provider is best for you.

Choose your type of loan

There are several types of loans that can be applied for through the Internet. The main types include unsecured personal loans, unsecured business loans, secured business lines of credit, and secured and unsecured small business and large business loans. These options should be carefully considered before applying to ensure that they will meet your financial needs and goals.

Choose a lender and apply

Once you have decided on a loan type and compared different options, the next step is to decide which lending institution or company will provide the best service and terms for your needs.

Provide the necessary documentation

The last step is to provide the documents you will need to get your loan. This may include information regarding your guarantees, credit scores, or any other financial data that will be necessary for a lender to make a decision regarding your loan application.

Make sure you know exactly what documents are needed before you apply for a loan online. If you don’t, you could wait longer than expected or be turned down due to mistakes on your part in the process.

The bottom line

Getting a loan online is easier than ever. Interest rates are generally lower than conventional loans and the process can be completed in less time than if you were to apply for a loan from a traditional bank. However, it also means that there is more risk when obtaining a loan online. You will need to make sure you take all necessary precautions before applying. If things go wrong, these negative consequences could cost you more money than the amount you originally borrowed.

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Expert Advice on Small Business Loans in California https://scbwicanada.org/expert-advice-on-small-business-loans-in-california/ Mon, 18 Oct 2021 14:35:08 +0000 https://scbwicanada.org/expert-advice-on-small-business-loans-in-california/ California has nearly 4 million small businesses within its borders. The Golden State depends on these companies to improve its economy. As a small business owner in the state, obtaining working capital can be beneficial for your business. With sufficient cash, you can pay bills and other business expenses. The loans could be used to […]]]>

California has nearly 4 million small businesses within its borders. The Golden State depends on these companies to improve its economy. As a small business owner in the state, obtaining working capital can be beneficial for your business. With sufficient cash, you can pay bills and other business expenses.

The loans could be used to meet your various needs including purchasing supplies and purchasing real estate to grow your business. This guide offers in-depth details about the various California small business loans.

Accion Quick Loans

Although Accion offers small business loans nationwide, its quick loans are only available to small businesses in California. Especially those in San Bernardino, San Diego, Riverside and Imperial counties.

Businesses in these counties can access loans of $ 300 to $ 8,000 with a three-year repayment plan. First, interest rates are set at 14% to 18% with an additional 1% discount for veterans, active duty service personnel and their spouses.

Quick loans are available three days after approval. Some of the requirements for applying for Accion fast loan include:

  • Business income tax returns for the previous year
  • Work address
  • Proof of address
  • Registration
  • At least 550 credit score

Small Business Loan Guarantee Program

The California government is partnering with various Financial Development Corporations (FDCs) to provide small businesses with access to the loan guarantee program. The program grants 80 to 95% of loans to small businesses in the FDCs.

Entrepreneurs eligible for assistance under this program must operate a small business in California with a maximum of 750 employees. Small business loans are available up to $ 20 million, although the guaranteed maximum is $ 2.5 million. The average maturity of these loans is at least seven years. Finally, depending on the direct lender offering you the loan, the interest rate may differ.

VEDC (Center for Economic Development of the Valley)

This non-profit organization offers three types of small business loans. Standard business loans can range from $ 50,000 to $ 500,000 with a repayment period of six months to five years. Usually there is an original charge of 2% to 3% with a minimum interest rate of 8%.

VEDC microloans are generally of low value, ranging from $ 2,500 to $ 50,000. Like standard business loans, VEDC microloans take six months to five years to repay. The interest rate for VEDC microloans varies between 5% and 7.7%. You can expect an upfront fee of 3% to 5% on VEDC microloans.

Micro business loans are the smallest loan plan ranging from $ 500 to $ 2,500. There is an 8.5% interest rate on these loans payable between six months and two years.

SMART Funding Program

The Housing Authority / County Community Development Commission of Los Angeles offers this program to extend financial assistance to small and medium-sized businesses. Businesses in sectors such as transportation, engineering and medical could apply for these loans. The SMART Financing Program offers loans of $ 25,000 to $ 1.5 million.

These loans could be used for different purposes such as real estate purchases, infrastructure acquisitions, rental renovations and product development. You can also use the funds to refinance debt, retain your workforce, and create jobs.

CalCAP (California Capital Access Program)

CalCAP has a credit loss reserve program that covers 100% of loans made by eligible small business lenders in California. Under this program, business owners could apply for a loan of up to $ 5 million.

However, some borrowers applying for loans under this program can only obtain registered capital of up to $ 2.5 million over three years. Only California businesses are eligible for a loan under the CalCAP program. At least 51% of your employees, payroll, profits, or business income must be in the state of California.

Does my business qualify for a loan in California?

Different lenders may have different eligibility requirements. However, most lenders consider the following:

  • Annual sales
  • Credit score
  • Duration of your activity in business

You may need to establish business credit that will be separate from your personal credit score. Your chances of qualifying for a loan are higher if your business has a high credit rating. For start-up entrepreneurs, your business may not be eligible for SBA and bank loans. You must therefore apply for short-term financing and microloans.

End note

If your business is not eligible for the above loans, you can apply for the loans online. However, finding local and online funds is not mutually exclusive. Before making a decision, you should consider the resources available to you at the local, state, and national level.

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House Speaker backs police crackdown on illegal online lenders https://scbwicanada.org/house-speaker-backs-police-crackdown-on-illegal-online-lenders/ Sun, 17 Oct 2021 08:09:00 +0000 https://scbwicanada.org/house-speaker-backs-police-crackdown-on-illegal-online-lenders/ TEMPO.CO, Jakarta – President of the House of Representatives (DPR RI) Puan Maharani expressed support for the National Police’s strong crackdown on illegal online lending practices, saying the practices harm the community. “Actions should not stop at operators or workers, but should also reach the boss or the owner. workers, ”she said in a written […]]]>

TEMPO.CO, Jakarta – President of the House of Representatives (DPR RI) Puan Maharani expressed support for the National Police’s strong crackdown on illegal online lending practices, saying the practices harm the community.

“Actions should not stop at operators or workers, but should also reach the boss or the owner. workers, ”she said in a written statement received on Saturday.

According to Maharani, the police must catch owners or investors of illegal online loan companies, even if the people involved are foreigners.

She said she hoped the police and related institutions would continue to step up the eradication of illegal loans that negatively affect the community.

“I appreciate the steps taken by the National Police Chief and his staff to root out illegal online lending that has caused problems for the community. The elimination of illegal online lending must continue to be stepped up until then. that there are no reports of people being intimidated and their personal data being misused, ”Maharani added.

Related News: Illegal online loan company raided in Yogyakarta, 83 employees detained

The Speaker of the House also appreciated the measure taken by President Joko Widodo, who asked the Minister of Communication and Informatics and the Financial Services Authority (OJK) to temporarily suspend new lender licenses in line in order to minimize the misuse of the digital service.

She called on the government to complete the Personal Data Protection Bill (PDP) to prevent the misuse of citizens’ personal data and to punish perpetrators more severely.

Because, so far, illegal lenders have only been charged under the Criminal Code Bill (KUHP), the ITE Act and the Consumer Protection Act, he said. she explains.

“With the existence of the Personal Data Protection Bill (PDP) later, illegal online lenders who misuse citizens’ personal data will be punished more severely, therefore the penalty will be doubled,” a- she declared.

In addition, she also urged the government to continue scaling up digital literacy and financial literacy among the public to prevent citizens from falling victim to illegal online lenders.

Read: Police raid illegal online lending headquarters in West Jakarta; Dozens of arrests

ANTARA

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Police step up crackdown on illegal online loan companies https://scbwicanada.org/police-step-up-crackdown-on-illegal-online-loan-companies/ Fri, 15 Oct 2021 17:10:21 +0000 https://scbwicanada.org/police-step-up-crackdown-on-illegal-online-loan-companies/ Jakarta. Jakarta Police have carried out one of their biggest raids on illegal online lending operations this year, following President Joko “Jokowi” Widodo’s directives to curb predatory lending practices, which are undermining the industry. legitimate and growing fintech loans of $ 18.4 billion. Comr. Hengki Haryadi, the police chief of Central Jakarta Metro, said Thursday […]]]>

Jakarta. Jakarta Police have carried out one of their biggest raids on illegal online lending operations this year, following President Joko “Jokowi” Widodo’s directives to curb predatory lending practices, which are undermining the industry. legitimate and growing fintech loans of $ 18.4 billion.

Comr. Hengki Haryadi, the police chief of Central Jakarta Metro, said Thursday that they raided an illegal online loan syndication office in Cengkareng, west Jakarta, the day before.

Police arrested up to 56 employees of the company’s payment and billing department for questioning. They also confiscated possible evidence, including 52 computers and 56 cell phones belonging to the employees.

“We followed the report of our findings and thus found a credit bureau in Cengkareng, West Jakarta,” Hengki said. After confirming with the Financial Services Authority (OJK) that the loan company was illegal, police carried out the raid.

“We obtained evidence and interviewed dozens of credit union office workers,” he continued.

The Jakarta Central Metro Police continue to investigate the case to find the owner of the illicit loan company and will reveal further details once the investigation is completed.

The illegal online lending transaction has grown exponentially over the past two years, thanks to the growing popularity of fintech applications during the pandemic. Illicit traders often promise the shame of borrowing easily from unsuspecting customers, who often lack financial literacy.

But, the loan often carries a high interest rate, which has trapped its clients in insurmountable debt. When customers cannot pay, illegal lenders often use violent and abusive tactics to demand payments.

The practice was severe enough to cause some of their clients to commit suicide. Earlier this week, a man in Bekasi, West Java, jumped from the roof of a shopping mall to his death after being unable to pay off debts for illegal online loans.

The problem was serious enough that President Jokowi felt compelled to act. He called on law enforcement to increase monitoring of illegal lending practices.

“I got information that many fraudulent and criminal acts have taken place. I heard that disadvantaged people are being cheated, trapped in high interest rates by online loan companies and being forced into various ways. ways to repay their loans, ”Jokowi said in his speech at the OJK Virtual Innovation Day event on Monday.

Jokowi said the rapid development of digital finance must be sustained, supervised and well facilitated to achieve healthy growth for the popular economy.

According to the president, the development of financial technologies must also build a strong, sustainable and responsible digital financial ecosystem. It must also have risk mitigation considering possible issues (both legal and social) to avoid heavy losses and increase community protection.

“If we get it under control quickly and properly, Indonesia has great potential to become a digital giant after China and India, and can lead us to become the seventh economy in 2030,” he said. declared.

Undermining the fintech industry

Comr. Ahmad Ramadhan, head of the national police’s public information division, said his office is currently focused on eradicating illegal online lending practices.

As of October, the National Police Headquarters had handled 371 cases of illegal loan companies due to reports from the public and cyber police patrol. Of these, 91 cases have been taken to court, while the rest are under investigation.

“Almost all of the victims of this illegal loan do not understand the practice of online loan fraud,” Ahmad said.

“Thus, prevention efforts are essential. Along with other stakeholders, the police continue to educate the public so that they do not fall victim to illegal loans,” Ahmad said on the program Zooming with Primus, broadcast. live on Beritasatu TV. Thursday.

Andi Taufan, public relations manager of the Indonesian FinTech Joint Financing Association (AFPI), said illegal online lending companies not only harmed victims but also damaged the FinTech industry. Their worrying practices could undermine public confidence in financial services, Andi said.

“What illegal lenders are doing is very disturbing and damaging to the fintech lending industry,” Andi said.

“As a legal fintech industry, we have disbursed loans of 260 trillion rupees ($ 18.4 billion) to 66 million people. Indeed, there are bad debts of around 1.7%, but the benefits provided are much more important to encourage financial inclusion, help MSMEs and productive enterprises. companies, ”he said.

According to AFPI research, many people fall victim to illegal loans because they don’t know it is illegal. Then there is an urgent need amid the economic hardships caused by the pandemic.

“Many borrow without thinking about how to pay it. It is a challenge for all of us to educate the public to be more careful and vigilant when they receive illegal loan offers,” said Andi.

]]> DPD President expresses support for police crackdown on illegal loans https://scbwicanada.org/dpd-president-expresses-support-for-police-crackdown-on-illegal-loans/ Wed, 13 Oct 2021 13:24:17 +0000 https://scbwicanada.org/dpd-president-expresses-support-for-police-crackdown-on-illegal-loans/ Surabaya, Java (ANTARA) – Chairman of the Council of Regional Representatives (DPD) AA LaNyalla Mahmud Mattalitti has expressed support for the position taken by National Police Chief Gen. Listyo Sigit Prabowo against loan providers in illegal line. Prabowo recently called on his staff to take firm action against unauthorized peer-to-peer fintech lenders, saying it was […]]]>

Surabaya, Java (ANTARA) – Chairman of the Council of Regional Representatives (DPD) AA LaNyalla Mahmud Mattalitti has expressed support for the position taken by National Police Chief Gen. Listyo Sigit Prabowo against loan providers in illegal line.

Prabowo recently called on his staff to take firm action against unauthorized peer-to-peer fintech lenders, saying it was also a direct instruction from President Joko Widodo (Jokowi).

“I fully support the police to immediately take firm action against unauthorized peer-to-peer fintech lenders or illegal online lenders who have been very damaging to the community,” Mattalitti said Wednesday in East Java.

There are many online loan providers in the country, he said, adding that it is estimated that there are hundreds of such unlicensed institutions and they tirelessly target the public via text or text messages. phone calls, he noted.

Related news: Ministry blocks 151 unlicensed P2P fintech lenders

“There are so many victims of these illegal online loans. Some of them have even suffered violence. Initially, they offer easy unsecured loans with a short repayment term. After that, they terrorize customers unable to pay or those who are in arrears, “he explained.

The speaker of the DPD asked all citizens who have been victims of such lenders to report them to the authorities. At the same time, he also called on the police to be reactive and to act quickly in handling reports.

He said that in October 2021, the National Police had recorded as many as 370 reports related to illegal online lending crimes.

“I have observed that the reported cases are only the tip of the iceberg. The actual number of cases may be much higher, but people who are victims of illegal online loans choose not to report because they believe that even after reporting, there would be no getting out of the problems they are experiencing, ”he added.

Related News: Illegal Online Lenders Operate Outside the Financial Services System: OJK

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Athena launches fixed rate home loans https://scbwicanada.org/athena-launches-fixed-rate-home-loans/ Mon, 11 Oct 2021 03:48:56 +0000 https://scbwicanada.org/athena-launches-fixed-rate-home-loans/ Low cost online mortgage lender Athena has implemented fixed rate home loans to complement its existing variable rate offerings. Launched this morning, the fixed home loan is available to both homeowners and investor borrowers looking to lock in a rate for a period of between 1 and 3 years. The lowest rates currently available are: […]]]>

Low cost online mortgage lender Athena has implemented fixed rate home loans to complement its existing variable rate offerings.

Launched this morning, the fixed home loan is available to both homeowners and investor borrowers looking to lock in a rate for a period of between 1 and 3 years. The lowest rates currently available are:

  • 1 year: 2.09% pa (comparison rate of 2.02% pa *) for an owner-occupier repaying principal and interest (<60% LVR)
  • 2 years: 2.29% pa (comparison rate of 2.04% pa *) for an owner-occupier repaying principal and interest (<60% LVR)
  • 3 years: 2.49% pa (comparison rate of 2.11% pa *) for an owner-occupier repaying principal and interest (<60% LVR)

Like Athena’s “Accelerate” variable loans, which won the 2021 Mozo Experts Choice Award, fixed mortgage rates are scaled according to the loan-to-value ratio (LVR).

This means that when customers pay off more of their loan balance, their rates will automatically drop. For example, a borrower who starts with an 80% LVR on their loan will be reduced to a lower rate once they reach <70% LVR and then back to <60% LVR again.

How does Athena’s fixed rate loan compare?

So how does the new fixed rate loan compare to other fixed rate mortgages in the market? Unlike Athena’s variable rate loan which has some of the lowest rates in the Mozo database, the rates available with the fixed rate loan are not as accurate.

While the 1-year fixed rate for homeowner borrowers with an LVR of 80% is below the average in our database, the 2 and 3-year rates are both above average. And all three rates are well above the lowest comparable fixed rates currently tracked in our database.

Athena Fixed Rate Lowest (Mozo database) ^^ Average (Mozo database) ^^
1 year 2.19% pa (comparison rate 2.08% pa *) 1.59% pa (comparison rate of 2.15% pa *) 2.28%
2 years 2.39% per year (comparison rate of 2.11% per year *) 1.59% pa (2.10% pa comparison rate *) 2.23%
3 years 2.59% pa (comparison rate of 2.18% pa *) 1.85% pa (comparison rate of 2.13% pa ​​*) 2.35%

That said, Athena’s fixed rate loan has relatively low rates of return – the rate a mortgage holder will receive after their fixed term ends.

Repayment rates are usually much higher than the fixed rates offered, which means borrowers may end up paying a lot more than they were during the fixed period if they are not quick to refinance a loan. other loan or to renegotiate their rate with their current lender.

However, Athena’s return rates are actually lower than their current fixed rates, which means (if rates continue to be competitive) borrowers will be rolled over at a low rate after their fixed term ends.

RELATED: Athena denounces ‘loyalty penalty’ costing Australian borrowers billions

To learn more about the rates, fees, and features involved, check out our Fixed Home Loan review. Or if you’d like to see how it stacks up against other fixed deals, check out some of the great fixed home loan rates in the table below, or head over to the dedicated Mozo Fixed Rate Comparison Center to compare. loans from a range of lenders.

^^ Interest rates are based on an owner-occupier paying principal and interest on a loan of $ 400,000 with an LVR of 80%. For more information on average mortgage rates, see our dedicated Australian home loan statistics page.

* CAUTION: This comparison rate only applies to the example (s) given. Different amounts and terms will result in different comparison rates. Costs such as redemption or prepayment charges, and cost savings such as fee waivers, are not included in the comparison rate but can influence the cost of the loan. The comparison rate displayed is that of a guaranteed loan with monthly repayment of principal and interest of $ 150,000 over 25 years.

** The initial monthly repayment figures are only estimates, based on the advertised rate, loan amount and term entered. The rates, fees and charges and therefore the total cost of the loan can vary depending on the amount of your loan, the length of your loan and your credit history. Actual repayments will depend on your personal circumstances and changes in interest rates.

^ See information on the Mozo Experts Choice Home Loan Awards

Mozo provides general product information. We do not consider your personal goals, your financial situation or your needs and we do not recommend any particular product to you. You should make your own decision after reading the PDS or offering literature, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we do not cover all products on the market. If you decide to request a product through our website, you will be dealing directly with the supplier of that product and not with Mozo.

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PODCAST | SA Money Report: Exploring Dark Designs Of Online Loans Allegedly Scamming Thousands https://scbwicanada.org/podcast-sa-money-report-exploring-dark-designs-of-online-loans-allegedly-scamming-thousands/ Fri, 08 Oct 2021 09:56:51 +0000 https://scbwicanada.org/podcast-sa-money-report-exploring-dark-designs-of-online-loans-allegedly-scamming-thousands/ Fin24’s Weekly SA Money Report provides in-depth insights into financial and business histories, as well as a deep dive into the history of the week. Unless you’ve lived in North Korea, you’ve probably heard of the hit Netflix South of the Border show called Squid game. Without spoiling too much, one of the key themes […]]]>

Fin24’s Weekly SA Money Report provides in-depth insights into financial and business histories, as well as a deep dive into the history of the week.

Unless you’ve lived in North Korea, you’ve probably heard of the hit Netflix South of the Border show called Squid game.

Without spoiling too much, one of the key themes of the South Korean show is an examination of the efforts people go through when unbearable debt hangs over their heads like the metaphorical sword of Damocles.

Desperate people do desperate things – anything that can ease their burden. These are the right types of people to entice them to sign up for something, and instead of getting money, they end up losing more of it.

In this week’s episode of Fin24 SA money report, we explore the dark and twisted form of marketing and web design that a class action lawsuit has trapped a crowd of South Africans – some desperate, others just ordinary people in need of a few extra bucks.

Jan Cronje, regular investigative reporter for Fin24, helps us unpack the case.

The goal of Fin24 with this weekly series is to tackle complex issues and break them down in a way that gives listeners a glimpse of a world that can often be impenetrable, either because of very dense numbers, ratios and percentages. , or because you have to navigate in the dark. financial terminology.

New episodes of the show, hosted by Fin24 deputy editor-in-chief Ahmed Areff, will air every Friday.

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5 reasons to be careful with online payday loans https://scbwicanada.org/5-reasons-to-be-careful-with-online-payday-loans/ Thu, 07 Oct 2021 05:11:52 +0000 https://scbwicanada.org/5-reasons-to-be-careful-with-online-payday-loans/ Each month we strive to keep our budget in check, buying only the items we need and trying to never spend more money than we can afford. However, sudden expenses are far from rare. They can occur in any aspect of our life, from sudden medical expenses to auto repairs. These opportunities will often lead […]]]>

Each month we strive to keep our budget in check, buying only the items we need and trying to never spend more money than we can afford. However, sudden expenses are far from rare. They can occur in any aspect of our life, from sudden medical expenses to auto repairs. These opportunities will often lead us to take out loans to cover them.

The most common type of loan used for these urgent cash injections is the payday loan. The expediency and the simplicity of obtaining these loans make them an ideal way to pay the sudden bills. The digital age has made these loans even faster to get the opportunity to get these loans online now. On the other hand, we have some major drawbacks that can hurt your financial situation if you’re not careful.

That is why here we will discuss some aspects of online payday loans that you need to watch out for.

Source: Getty.com

1. Expensive to use

The most common downside to regular and online payday loans is their interest rate. This aspect of payday loans makes them inconvenient, the cost can add up quickly so that with each passing day there are more extreme costs to be added even to the smallest of the loans.

For this reason, you need to plan a bit when you take out a payday loan. If your car can sit in the repair shop for an extra day or two at no additional cost, you may have to pay lower interest rates by getting the loan later than earlier. This assumes that the date two days later is closer to your paycheck, during which you can make a quick payment on payday loans without accumulating too much debt in the form of interest.

2. Easy to obtain

The biggest advantage of payday loans is also their biggest drawback. Being able to get a loan with little hassle or time is something that appeals to people even if they don’t really need the money right now. This can make us constantly abuse the rapid influx of money they offer.

In doing so, we enter a dangerous zone where we are unlikely to be able to pay the expenses on time and instead accumulate debt.

Source: storyv.com

3. Can easily accumulate

In addition to the last two reasons, this one deals with the problems that arise if you don’t deal with payday loans quickly. While a payday loan may not seem difficult to repay initially, sudden costs may recur the next month and compromise our ability to repay the loan. In doing so, we allow this high interest to escalate. Even a month can turn it into a bigger amount, but if it lasts longer, it could turn into total debt. The debt itself will grow rapidly, so the problem just keeps getting worse if we fail to stop it in time.

To prevent indebtedness from occurring, we suggest that you never take out more than one payday loan at a time and prioritize repayment over everything else.

While it might seem like a lower priority right now, depriving yourself of another item on your spending list, it is best to get rid of it now, as later it could cost you several. The ability to access these loans online makes them even more tempting for a regular user, considering how quickly you can acquire them from home. Don’t make the mistake of overdoing accessibility and convenience as it could come back to bite you.

4. Security

As with any online service, the security of our information and transactions is of concern. Physical loans are often more secure because we can see the banking structure that protects our information by simply going in person. Online, we don’t have the same understanding of our security without learning about the employees responsible for that service.

We should also look for service providers who can guarantee our security with well-managed cybersecurity elements as well as proper encryption of their servers. For the best secure online loans click here as World Payday Loan offers fully equipped cybersecurity staff to protect your data. Once your information is saved in their database, it could fall prey to cyber attacks but a formidable defense will keep it exclusively accessible to those to whom you give your consent.

Source: investopedia.com

5. May lead to scams

Speaking of security, it is important to mention the possibility of scams when using online services. The main source of scams comes from the lack of user agency, which means you should always stay alert for the obvious signs of scams, but that doesn’t mean that scam services won’t do their best to deceive you. . First of all, never do business with someone who doesn’t have an official website that you can visit and review.

Not only should this provide a lot of information about what you are getting into, but it will also allow you to find additional information about previous customers of the service. You can also search for the name of the site on Google and see the reviews available. Scams usually accumulate negative reviews quite quickly, so you should be able to find previous victims displaying their dissatisfaction online. Lack of notice is another reason to be wary.

While it could just be a showcase for a new business, it could also mean that the entire site is a front for scam purposes. To confirm the authenticity of the site’s practice, be sure to browse the site looking for some sort of certification or private links. If a scam occurs, it will help you find the responsible members. Finally, keep in mind to never click on suspicious links from unknown members. If the link to the website the scammer sends you looks suspicious or asks you for personal information right after clicking on it without showing the site and the signup option itself, you should get out of it.

I repeat, remain vigilant and skeptical. If a site has previous users who are happy with the service and a completely legitimate setup, you’re good to go, otherwise look for another.

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