Nowadays, there are many different ways to get additional funds for these services with an appropriate commission. We, CT Credit, offer relatively cost-effective solutions that satisfy both parties. One such solution is the CL Credit – it will allow you to get the necessary funds quickly and cheaply without creating a gap in your wallet.
|✓||CL Credit design||FREE|
|✓||Account Servicing Fee||FREE|
|✓||Commission for cash withdrawal||FREE|
|✓||Loan rate per month from||1.95% 0%! *|
|✓||Annual interest rate no||26.49% 17.97%! *|
* Offer valid for the first time on CT Credit CL Credit service. For example, borrowing 300 € for 60 days, borrowing rate 0%, APR 0%, total repayable amount 300 €. After 60 days, the contracted individual interest rate is applied from 0.12% per day, GPL from 51.98%.
** Offer valid for CT Credit CL Credit for the first time. Borrowing in the amount of EUR 500 with a repayment term of 12 months and 12 payments with the lowest possible borrowing rate per month at 1.95% (below – 60 days without interest charge / no offer), the borrowing rate is 23.40% / 23.40% pa , annual interest rate 17.97% / 26.49%, total repayable amount 546.85 / 565.62 EUR.
Why Choose a CL Credit?
- Choose your credit limit from € 100 to € 5000 and use the full amount at once or just a fraction of it.
- Applying and withdrawing money is free. If the money is not withdrawn, no payments are required.
- Take out the money when you need it – on a website, on a smartphone application.
- Repay the withdrawn amount and interest payments within 36 months or faster if you wish.
What is a CL Credit?
A CL Credit is a loan with a certain amount of available cash, but without a strict repayment schedule. A CL Credit is a great solution if you don’t have enough money for urgent purchases or long-planned plans. It is also suitable at times when you want to use the required amount gradually – in parts, because the advantage of the CL Credit is the possibility to spend exactly the amount of money you need at the moment for the desired item. In this way, you can plan your budget by eliminating the possibility of over-spending your money.
Five Reasons Why a CL Credit Can Be a Better Option for a Loan:
- Apply only once and make requests from the assigned CL Credit Limit without any cost limit;
- spend just as much as you need for a particular purchase;
- it is like an airbag when unexpected expenses occur;
- refunds money already after a month or several small payments up to 3 years;
- pay interest only on the amount you have spent.
A CL Credit is a virtual credit card because its operating principle is quite similar – when drawing up a CL Credit, a specific amount of money is available throughout the life of the CL Credit. This means that when you need additional funds, you are able to transfer them immediately from the CL Credit to your bank account.
How do I apply for a CL Credit?
Applying for a CL Credit is exactly the same as applying for any other loan or quick loan – specify the desired CL Credit Limit and fill in the application form, confirm your account and receive cash.
To apply for a CL Credit, you must:
- ages 18 to 70;
- regular and sufficiently large income (salary, pension, benefit, scholarship);
- an active mobile phone number registered in Latvia;
- positive credit history (no other loan payments or entry in the debtor’s register should be delayed).
All requested information must be entered in accordance with the general terms of the CT Credit Loan Agreement and may not be erroneous, otherwise the CL Credit will not be granted.
CL Credit or Loan – Which Is More Beneficial?
We, CT Credit, offer our clients two types of products – CL Credit and Loan. Initially, it may seem that the CL Credit and the Loan are similar, but it is not. Unlike the Loan, the CL Credit offers a more flexible repayment term and other important benefits. Find out what are the most important differences between these services and where one or the other can be more beneficial.
One of the biggest benefits of a CL Credit is the ability to use money only when you need it. This means that you have access to the maximum CL Credit Limit (which you have set and assigned to you), but you do not pay interest on it until you have withdrawn the money. Also, the CL Credit is not subject to an account maintenance fee. Interest payments should be made only for the amount of the CL Credit used. For example, if the Credit Limit is 600 Euros, but only 100 Euros are used, then the interest payments will only be made for these 100 Euros.
The CL Credit allows:
- repay the borrowed amount in advance, thus saving on interest payments;
- to borrow an additional amount within the CL Credit Credit Limit;
- the amount of the credit limit used shall be returned in whole or in part;
- Choose how much to use from the CL Credit Credit Limit.
An additional amount is the money you can get within the CL Credit at any moment. This means you can borrow as much as the CL Credit limit you are granted. Once your application is approved and the CL Credit Limit is scaled down, money is easily available at all times.
A fast loan or credit is a very popular and well-known financial service for almost every resident of Latvia. Unlike the CL Credit, Loan at CT Credit is a customized loan with an individual interest rate – choose a maturity of up to 36 months and repay it in equal monthly installments. As with the CL Credit, the Loan is not subject to any form of processing and issuance – only the principal and interest are repaid.
Since the Loan has a fixed repayment term, there may be a situation where you cannot make a monthly payment for any reason. We do not recommend postponing the loan, so we offer you the opportunity to receive a free reminder of your payment date.
For this reason, the CL Credit may be a more profitable way to borrow money because it does not have strict monthly payments. In order to obtain a loan, you must be a resident of the Republic of Latvia with a permanent residence and an account with a bank registered in Latvia.
Annual interest rate
The Annual Interest Rate (APR) is the interest rate that includes commission and interest, excluding any borrower’s payments resulting from a default (or improper performance) of the obligation or payment for additional services used by the borrower. The following conditions are taken into account when calculating the annual interest rate:
- the amounts paid by both parties may vary at different times and may be paid at different time intervals;
- the starting date for calculating the interest rate is the first day of disbursement;
- intervals between dates used in the calculations, expressed in years or parts of a year, accepted as a year by a standard year of 365 days (or 366 days in a long year).
Simply put, GPL is the total cost of credit, expressed as an annual percentage of the total amount of credit granted. The annual interest rate on quick loans is higher than that offered by banks, but the nature of the service also differs – quick loans can be received within minutes, while it is much more difficult and time-consuming to obtain alternative loans (which can take up to several weeks). Similarly, a fast loan is used for a relatively shorter period. Remember that interest on the CL Credit is payable only for the amount of money spent and the period for which the loan is taken.
For example, borrowing a CL Credit amount of EUR 500 with a repayment term of 12 months and a 12-month minimum possible borrowing rate of 1.95, a borrowing rate of 23.40% per annum, an annual interest rate of 26.49%, a total repayable amount of EUR 565.62.
It should be noted that applications are evaluated individually and the proposed interest rate may differ after the application has been examined.
We regularly advertise various promotions that borrow more advantageously, so we invite you to follow the news and changes on our website to miss a good opportunity. A CL Credit is a quick, convenient, and cost-effective way to get extra money, but before you borrow, carefully assess the need for the loan and the opportunity to repay it. Any credit is a financial responsibility, so we recommend that you do not hurry and ponder whether the money you need to buy is not just a moment of desire. If you know that you can give money back in time, the CL Credit or Loan is only a few minutes away!
About CT Credit Credit
The annual interest rate on the CT Credit CL Credit is 26.49%. The GPL calculation is based on the assumption that at the start of the contract the maximum CL Credit Limit that is refunded in equal installments within 12 months is removed. The GPL calculation is based on all product-related interest rates and includes a commission account and cash withdrawal. CT Credit minimum APR is 26.49% / maximum APR is 218.87%. CT Credit offers loans from 50 to 5000 € for a term of 3 to 36 months.
The Lender is entitled, under the Agreement and applicable law, to enforce debt recovery measures by transferring the right of claim to the Outsourced Service Provider who has obtained a license to provide debt recovery services. Default may have a negative impact on the Borrower’s credit history or credit rating and may in the future lead to refusal to provide the service. The Lender shall be entitled to calculate default interest for each delay of repayment of the principal part of the Loan in the amount specified in the Agreement. The lender complies with statutory limits on the amount of default interest.