Fast Credit for the Year – What to Consider?

Applying for a loan via the Internet nowadays does not seem to be an issue anymore. It is a relatively quick and convenient way to get the money you need without the need for formalities, so it is also a popular solution for many. Although more widely available are short-term loans up to a few hundred euros, many lenders also offer longer-term loans – most often quick loans for a year. This solution is useful for larger plans and, unlike bank loans, you can take out a year’s online credit without even leaving your home – within minutes. What to consider before applying for a loan? How do I find the right solution? This is discussed below!

Borrowing conditions.

As with any money loan on the Internet, it is possible to apply for a longer term loan electronically. When considering an application, the lender considers both credit history and income level. Also important is the age limit – it may vary from lender to lender. A 12-month quick cash loan is issued without pledge or guarantee, but each person must carefully evaluate his or her own solvency.

Available amounts

money cash

Loans can reach a few thousand euros a year. Repayment of the loan is done according to a predetermined schedule – it is prepared already at the moment of conclusion of the contract, therefore it is important to read all the information before and carefully read all the terms and conditions of the contract. When choosing a loan for a longer period of time, you should carefully evaluate your solvency and understand whether the monthly installment of your loan is commensurate with your income level.

Another important factor to consider when considering a long-term loan is that when you first borrow, the amount of credit available is usually less than what the lenders advertise. The credit limit is usually raised from the second borrowing time.

How to choose a lender?

As mentioned, the offer is wide and open credits up to 12 months are available in a fairly wide selection. Given that each offer is different, it is desirable to spend some time evaluating several options. Of course, one can always trust what is promised in advertising, but one should hardly rely on loud slogans. Another option is to look at reviews or recommendations from other borrowers. However, it is safest to look at the offers and borrowing conditions of several lenders.

The most important factors to consider are:

  • The amount of money available – Different lenders offer different loan amounts, so first you need to evaluate what amount is needed and then find the right offer;
  • Interest Rate – The important thing is the interest rate because it will show you what the total cost of the loan will be. Be sure to pay attention to the amount of the monthly payment as well – this is most convenient with the loan calculators on the lenders’ websites;
  • Age Limit and Other Borrowing Conditions – Loans are made to solvent persons with a positive credit history, but you must also ensure that you meet the age limit set by the lender before applying for a loan;
  • Extra Features – It’s definitely worth learning about additional features like loyalty programs, the possibility of extending credit repayments when needed, and other important nuances that might be useful

Once you have found the right solution and assessed your solvency, you can apply for a loan. This can be done on the lender’s website at any time of the day – it should be borne in mind that the application process and the granting of the loan take place within the lender’s working hours.

Lagham credit for 12 months

money cash

Lagham offer also 12 months credit. This is an opportunity to borrow up to 1000 euros to realize your plans. If you are confident that the loan will be repayable in a shorter period of time, you can also opt for a shorter repayment period – the minimum repayment term for a long-term loan is 3 months.

The loan can be applied for by residents of the Republic of Latvia aged 20-70. It is important that the borrower has a positive credit history and an adequate level of income.

To apply for a loan online you need:

  • Independent mobile phone connection;
  • E-mail address;
  • Bank account with a bank operating in Latvia;
  • € 0.01 to complete the registration

Fill out the application and transfer one euro cent to the bank account indicated by the lender – this is necessary for security purposes so that the lender can verify the personal data you provide. The application is processed within 15 minutes and, if a positive decision is reached, the money will be credited to the bank account indicated as soon as possible.

Responsible borrowing

Although it is relatively easy to get a loan today, it is still a responsible decision that should only be taken if you really need it and are confident in your ability to repay it within the contract period:

  • Match your desires with options – evaluate how much you can spend each month to repay your loan;
  • Borrow only when you really need it – remember that credit is for serious and thoughtful purposes;
  • Do not take more than necessary – carefully evaluate the amount needed

Borrow responsibly!

Building savings is waiting for radical changes

Changes in building savings in 2019 will be written down in its history negatively. The state will save at the expense of ordinary people. Undoubtedly, this is the biggest change since the building savings. € 2,800 per year will be required for a full state bonus. But that’s not all. There are other substantial changes.

The attractiveness of building savings has been decreasing for a long time

The attractiveness of building savings has been decreasing for a long time

Having money in building savings has been on the verge of reasonable efficiency for years. From 2019, saving in building savings will almost be a punishment. You may seem a bit exaggerated, but I just feel it if I compare it to the conditions of building savings in the recent past.

The most fundamental changes in building savings from 1.1.2019

The most fundamental changes in building savings from 1.1.2019

This is a basic overview of the most important changes:

  • You must deposit a minimum of € 2,800 per year to receive the full state bonus.
  • The state premium will be € 70 per year.
  • Only people with income up to 1.3 times the average wage will be entitled to a state bonus.
  • Friendly savers have become enemies. After the 6th year of the contract, the building society will reduce your interest to a minimum.
  • If you deposit money at the end of the year, you are only entitled to half the premium.
  • You do not qualify for a state bonus at all when making intermediate purchases.
  • Proof of the purpose of using the funds will also be necessary after the 6th year of saving.

For more information on building savings from 2019 onwards, read more in the article.

The 2019 state premium will be difficult for many to reach


By the end of 2018, € 1,327.80 was required to receive a full state bonus for building savings. For many, this has been a lot. What starts to apply from 1.1.2019 is, in my opinion, extremely much.

In order to receive the full state bonus, it is necessary to deposit € 2,800 on the building savings account. It is the historically highest amount ever to be invested in getting full premium.

Everyone will not do this anymore. It’s over € 233 a month. It may be too much for someone and will not reach the full state premium from 2019 onwards.

This applies to contracts concluded until and after 1.1.2019.

Only people up to a certain threshold will receive a premium from 2019 onwards

The bill says that if you want to qualify for a state bonus, you must have an income up to 1.3 times the average wage in the national economy.

This is monitored for the calendar year preceding the calendar year for which they claim the premium. So if you want the 2019 state premium, you will be tracked for the previous year’s income, ie 2018.

It’s a proper paradox. You need to earn enough to qualify for the state bonus, but to get the state bonus, you have to make 2 times more than 2019.

The amount of the state premium will be € 70 and a deposit of € 2,800 per year

The amount of the state premium will be € 70 and a deposit of € 2,800 per year

Very long ago, when the building savings began, the state premium was a maximum of 6,000 SKK, which is about 200 €. It counted the 40% of the annual deposit.

From 2019 onwards, the state premium is only € 70 and counts the 2.5% of the annual deposit. If you only deposit € 1,000 for your building savings, you will only have a national bonus of € 25. It’s a misery. There are very few people who are approached by building savings due to the premium state.

For the full state premium in 2019, you need to deposit € 2,800.

The amount of the state premium is the same for old and new contracts.