Banknote, owned by Good Finance, is one of the newest non-bank lenders in the Republic of Latvia. It is possible for consumers to apply for credit online and to receive it in their account or in cash at a branch. Below, we’ll find answers to the questions that borrowers might be most interested in.
Is it possible to extend the credit?
You have the right to extend the credit by paying the loan extension fee as required. You can always see the exact costs in your profile after applying for a credit.
Can I opt out of credit?
The borrower has the right to exercise the right of withdrawal within 14 days by notifying the lender. Contact your credit specialist or CRPC for details on this option. More information about distance loans in the Credit section of the Credit portal.
What happens if I can’t repay my debt or extend my loan?
In the event of default, the company has the right to calculate default interest (0.38% per day) and penalties (1% per day) for each day of delay. The total amount of default interest and penalty cannot exceed 100% of the loan amount. To recover the money, the company can go to debt collectors or file a lawsuit. Any additional costs incurred are subsequently borne by the borrower. In addition, the non-payer is entered in the debtors’ records, which may subsequently make it more difficult to obtain other loans.
Can I repay the loan faster than stated in the contract?
Yes of course. Repay your loan ahead of time and save on interest. You can see the balance of the principal on your profile in the “Payments” section of your profile. Contact your business if you have any questions.
Is it possible to reduce the monthly payment amount?
Yes, there are two ways customers can take steps to reduce their monthly payment. First, repaying in one installment over the current month will automatically reduce your loan balance and your monthly loan payment. Alternatively, extend the loan repayment term. Alternatively, the monthly payment amount will be lower, but the total amount you will pay over time will increase. To use the second option, you need to go to one of the company’s affiliates in person or call the customer service phone number.
Is it possible to borrow cash?
Yes. If you want to apply for a loan online, you can indicate that you would like your cash to be paid out. In this case, the banknote of your choice will be able to receive the money at the branch.
Is the first loan up to EUR 500 free of interest?
No. New customers can borrow up to € 500 for the first time and are no longer offered for 30 days. The exact terms and conditions of the cooperation and the repayment terms are shown in the contract.
What is a Senior Loan?
This is a regular loan issued to clients between the ages of 60 and 80 with slightly different terms of cooperation. Instead of certifying income with a bank account statement, you are required to verify that the client is receiving a pension or retirement pension. You can apply for the service both online and at the office.