Tag Archives: Personal Loans

Personal Loans

Consumer Loan Market Is Growing

New York, NY, USA, 2018-Jul-03 — /EPR FINANCIAL NEWS/ — During last ten years, there were significant investments in the personal loans market. It was possible due to the inflow of capital and innovative technologies, which caused a doubling of the market.

Although, according to many financial websites, originations of personal loans are falling. It started with refusals to borrowers with a credit rating below 600, which didn’t take place since 2012.

Despite the decline in the origination of loans, all other data shows an increase of interest of the borrowers to this bank product.

The market for unsecured loans grew by 10.8% in 2017. And financial analytics are talking now about a great prospect for the development of this market segment.

According to statistics in 2017, 10% of respondents applied for a personal unsecured loan, a greater interest was shown to credit cards (65%) and auto loans (26%).

Banking CEOs are Concerned About FinTech

The lending market has a long history and now it is experiencing one of the most historical phases.

One of the biggest changes became a rapid development of FinTech (financial technologies).

Several years ago banks and other traditional financial structures were skeptical about online loans. Now 81% of banking CEOs are worried about such fast FinTech development.

Such concerns are reinforced by the fact that financial Internet structures have become quite competitive. Applying to a lender online, via a certain website connecting the customers with the direct service providers, the borrower gets a wide choice: unsecured personal loans, same day loans, debt consolidation etc. In addition to this sophisticated credit models and new anti-fraud mechanisms makes online financial services more attractive than banks.

The Most Popular Loans

According to the last statistic data, the most popular loan products are unsecured personal loans and installment loans. These loans are the most convenient and profitable for the borrowers. Same day payday loans are also popular, but they are most often used in urgent cases when money is needed for a short period of time. In such cases, 24/7 loans are more convenient, since it is easy to get and the money is being accrued to the bank account of a borrower in short period of time.

The thing that makes personal loans one of the most attractive types of financial products is its uniqueness. It can be used for any purpose: making a big purchase, paying for a wedding or vacation, etc. However, the most common reasons for obtaining a personal loan currently are:

1. Debt consolidation (35%).
2. Household expenses (19%).
3. Medical expenses (9.9%).

Statistic data shows that the purpose of the loan doesn’t affect the chances of the borrower to get approved.

Summing up, the consumer credit market is experiencing rapid growth. Personal loans are attractive to the borrowers because of the affordable interest rate and quick receipt of funds. FinTech is developing and expanding, thus the number of lenders increases and the borrowers have a wide choice.

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Provident Continues to Maintain a Presence in the Dow Jones Sustainability Indexes British Airways

Provident is continuing to carve out a reputation as one of the world’s most responsible financial companies by once again being included in the Dow Jones Sustainability Indexes.

The DJSI World tracks the performance of the top 10% of the 2500 largest companies in the Dow Jones Global Total Stock Market Index that lead the field in terms of sustainability, with the DJSI Europe monitoring the sustainability performance of the top 20% of the 600 largest European companies.

For the seventh successive year, Provident has been selected for inclusion in both the Dow Jones Sustainability World Index (DJSI World) and Dow Jones Sustainability Europe Index (DJSI Europe).

The Dow Jones Sustainability Indexes were launched in 1999 as the first global sustainability benchmarks. The Indexes are based on an internationally recognised leading Corporate Sustainability Assessment (CSA) methodology which means that they include only companies that fulfil certain sustainability criteria which is better than the majority of their peers.

Provident’s overall score in the 2011 Indexes was 63% (2010: 59%) – 23% points higher than the average overall score of the other companies in the financial services sector – with ‘best in class’ scores for environmental monitoring and reporting, and scores of over 80% in respect of a range of other CR issues, including anti-crime policy/measures, stakeholder engagement and social reporting.

Rob Lawson, Corporate Responsibility manager at Provident Financial said: “We are delighted to continue to be included in the Dow Jones Sustainability Indexes and remain committed to disclosing information on our corporate responsibility (CR) performance to our stakeholders.”

Rob Lawson concluded: “Our continued inclusion in the Indexes is no mean feat, and is testament to the progress we’ve made over the past seven years in embedding our CR programme throughout our business. It also endorses our approach to CR management and shows that we compare favourably to other global companies.”

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M&S Money Reduces Loan Rate

M&S Money is reducing the rate on its personal loans from 6.9% APR to 6.7% APR (representative). The offer applies to personal loans between £7,500 and £15,000.

M&S loans are available between £1,000 and £25,000 with flexible repayment terms over 12 to 84 months. Customers have the option of making no repayments for the first three months, subject to lending criteria.

Colin Kersley, M&S Money Chief Executive, said: “We are pleased to offer a reduced rate on M&S Personal Loans. The latest offer of 6.7% follows other competitive loan rates we have launched this year. The reduced rate also applies to M&S Car Buying Plan which allows customers to defer a fixed percentage of their loan.”

M&S Car Buying Plan allows customers to defer a fixed percentage of their car buying loan, giving them the following options at the end of the term:
– Keep the car and carry on making monthly payments until the whole of the loan is repaid
– Keep the car and pay off the remainder of the loan with a lump sum
– Sell the car and use the money to pay off the remainder of the loan

When borrowing with an M&S Personal Loan, customers are reminded that they should consider their ability to maintain the monthly repayments. Customers can view more information on the M&S Money website, with further information available via our customer services teams over the phone.

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Personal Cash Advance Emphasizes Secure Payday Loan Process

Online sites such as Personal Cash Advance offer a secure alternative in the cash advance industry. Company spokesperson Neil Cutting emphasizes the benefits of utilizing the growing Personal Cash Advance website.

“I am thoroughly convinced that it doesn’t get any safer than online cash advances, compared to the alternatives, Cutting said. “We take the time and effort to ensure that our customers receive a first-rate service all the way through.”

As good news about the economy continues to hit the daily press, Cutting foresees positive things in the future when it comes to personal loans. Additionally, most lenders affiliated with PCA will not require potential borrowers to complete a traditional credit check. Instead, the lenders will rely on other criteria, such as monthly income and employment status, to determine applicants’ eligibility.

“It’s one of life’s great ironies that the people who need to borrow money the most can’t get it because they’ve made a few mistakes with their credit in the past. Credit challenges can haunt a consumer for years and preclude applicants from qualifying for traditional bank or credit union loans. At PCA, we understand that a credit score isn’t everything, which is why we’ve broadened the options available to our visitors with imperfect credit,” explained Cutting.

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Lloyds TSB is Hitwise UK Online Performance Award Winner

Lloyds TSB has been named the number one website in the Business and Finance – Banks and Financial Institutions category for January – June 2009 in the latest Hitwise UK Online Performance Awards program. The annual Hitwise UK Online Performance Awards recognise excellence in online performance through public popularity, awarding websites in more than 50 key industries online.

This year is the fifth Hitwise Annual Awards and Lloyds TSB has been awarded number one every year since the awards began.

In addition to the Internet Banking top spot, online.lloydstsb.co.uk was also awarded a Hitwise Top 10 Online Performance Award for January – June 2009, ranking number two based on market share of visits among all UK websites in the Hitwise Business and Finance – Banks and Financial Institutions industry.

Results of the Hitwise UK Online Performance Awards are based on the Internet usage of more than 8 million UK Internet users with winners receiving the greatest market share of UK visits throughout the first half of 2009 in their online industry.

Jason Bacon, head of Digital Marketing for Lloyds Banking Group which includes Lloyds TSB said: “The Internet has fast become one of the most popular ways for customers to get information about financial services and to do their banking. Over the years we made sure that our online services evolve to meet customers’ needs and as a result we’ve seen both our website and our internet banking service grow in popularity. This award is a fantastic recognition of that.”

Daniel King, General Manager of Hitwise UK said, “With the dynamics of online marketing continually evolving, the online success of LloydsTSB during 2009 is an incredible achievement. Receiving a Hitwise UK Online Performance Award acknowledges that Lloyds TSB is amongst the most popular websites visited by UK Internet users, signifying the strength of their online marketing”.

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Indiana Campaign Finance Announces Payday Loans

Now, through Indiana Campaign Finance — fast payday loans — from the convenience and privacy of your desktop. No fooling — there’s no faxing. Just quick funding. No tedious, time-consuming, paper-greedy processes to hold you back or tie you down from the solution that awaits you, thanks to Indiana Campaign Finance.

ICF knows that some situations call for a fast and trouble-free fix, so our knowledgeable experts have created the online No-Fax Payday Loan, for the fastest prescription for your short-term financial crunch.

For those urgent, worrisome times when “help can’t wait,” Indiana Campaign Finance (ICF) can come to your rescue. home loans ICF isn’t just any port in the storm — it’s your modern-day solution for modern-day financial woes. Use fire to fight fire — apply for your ICF Payday Loan, and get help, fast.

Apply for an easy, fast ICF student loans or Payday Loan online and get your money deposited directly and conveniently straight into your bank account, with no faxing or intervention required. No anxiously waiting for mail deliveries that might get held up or misdirected – you’ll be the first to know when help has arrived, not your mail carrier.

If you can type, ICF can help — it’s just about that simple. Armed with just your paystub and the privacy of your computer, you can truly feel better fast by attacking what really needs to be done: dealing with urgent debt and quieting creditors through help from ICF.

Now is the time to exchange desperation for relief — why wait? ICF is on your side. — or can be, as soon as you say the word. 

Don’t hesitate to turn to ICF for help — with financial debt, like a hole in the roof, things will only deteriorate the longer you wait. 

Act now to stop your expensive debts from getting even bigger. With the savvy and sympathetic staff at ICF, there’s no need to wait or hesitate.

Afford yourself some urgently needed peace of mind: with a quick-fix remedial Payday Loan from Indiana Campaign Finance, you can buy yourself some breathing room to think straight and fly right. Apply For the ICF No Faxing Payday Loans Online And Get Your Loan Now! Indiana Campaign Finance Payday Loan online applications are at your fingertips, at http://www.indianacampaignfinance.com/loans/payday-loans.html.
Remember, the sooner you apply, the sooner you’ll breathe easier. See also : auto loansbad credit loans

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Loans for Home Improvement Projects Soar Reveals Lloyds TSB

New research from Lloyds TSB Personal Loans has revealed that over half (55 per cent) of estate agents nationwide have reported an increase in homeowners taking their property off the market in favour of making home improvements.

Lloyds TSB Personal Loans, surveyed 500 UK estate agents and over 1000 home owners to understand how would-be sellers are responding to the cooling housing market*. The research is published as Lloyds TSB revealed a 19 per cent, year on year increase in personal loan applications for home improvement projects.

The findings reveal that three in five (59 per cent) homeowners who had been looking to sell their property have put plans to move on hold due to rising concerns over property prices. Half of those staying put are opting to renovate their existing property instead.

Fifty five per cent plan to undertake improvements to boost chances of a sale in the current less buoyant market. However, almost a quarter (23 per cent) admit they are adapting their property to accommodate changing lifestyle needs and are keen to recoup any potential fall in house prices by adding long term value.

David Wishart, director of personal loans at Lloyds TSB, said: “In recent months we have seen a significant increase in home improvement personal loan requests. For the last decade homeowners have been able to sit back and rely on rising property prices to increase the equity in their home but sadly this is no longer possible. If you want to trade up and avoid substantially increasing your mortgage, you’ll need to add value to the house you’re currently in.”

TV presenter and property finder, Phil Spencer, commented on the research: “The current cooling of the property market is making homeowners think twice about selling up and many are opting to improve instead. In a buoyant market, people taking on a home improvement project could get away with less than perfect preparation or some slapdash sums, as their mistakes were covered by rising property prices. However, in today’s environment it is vital you plan any project thoroughly to ensure maximum return on investment.”

Lloyds TSB quizzed both estate agents and homeowners on the features most likely to help a property sell in the current climate. The findings reveal the top improvements likely to appeal to buyers are:

New kitchen (79%)
New bathroom (59%)
Extension (47%)
Loft conversion (29%)
Re-decorate (25%)

David Wishart continued: “Whether the motivation is a quick sale, adding long term value or accommodating changing lifestyle needs, it’s vital homeowners consider the financial investment they’re about to make. A personal loan can provide a hassle free, affordable way of spreading the cost.”

To help homeowners add value to their home Lloyds TSB personal loans has teamed up with Phil Spencer to create the Move or Improve Guide, offering practical advice and insider tips on the do’s and don’ts of home improvement. An audio podcast and PDF version of the guide is available to download free of charge.

About Lloyds TSB Student banking
Lloyds TSB Bank plc and Lloyds TSB Scotland plc are authorised and regulated by the Financial Services Authority and signatories to the Banking Codes. Lloyds TSB Bank plc Registered Office: 25 Gresham Street, London EC2V 7HN . Registered in England and Wales no. 2065.

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