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Payday Loans to Friends and Family: No Contract without a Contract!

by James Ford

Do not lend to friends or family without a contract


Nowadays, it is difficult and many times entails financial demands, which in some periods exceed our possibilities and exceed the reserves that we have managed to save. In such cases, borrowing money - sometimes lower, sometimes higher amounts - is the solution.

Statistics say that people most often borrow in the form of consumer loans or loans from non-bank institutions. In second place are loans from private providers and only in the end is lending money from family or acquaintances.

There is a bit of psychology behind it: in most cases, the "shame" of lack of funds outweighs the internal tension to ask for help from a friend, colleague, or brother. Therefore, people prefer to "quietly" try to raise money from other sources so that none of the loved ones knows the best.

It's not, of course, the iron rule! It all depends on the individuality of the personality, there are people who, in an emergency, do not solve such things and basically without shyness and come straight to you with a request to borrow them.

Article content

  • 1 Don't be afraid to say no!
  • 2 Even an oral agreement is valid but high risk!
  • 3 What is on paper is given
  • 4 Conclusion

Don't be afraid to say no!


How you decide to do so is entirely up to you, but before you nod your head in agreement, think that it is your hard-to-save money that you may ultimately lose! Because, whether you are serious or not, any loan to a creditor is such a risk! If that were not the case, no bank would have asked the candidate to borrow a confirmation of income, would not have drafted it in credit registers and would not have asked for a loan guarantee.

rsz_fin_problemy This may not be the case for your colleague who came to you for help, but the practice also suggests that people who find themselves (and sometimes their own faults) in such a financial misery also resort to borrowing from friends or family that makes it virtually impossible for them to raise money not only from the bank but also from the non-bank! They know that since you are not a financial market entity with a lending license, you do not have the opportunity to view credit registers.

You will also probably not ask for a receipt, but you will ask your colleague what he really needs the money for. It will be the least for him to think of any relevant reason!

So beware, because if this is a scenario like this, the headless "yes" can cost you a lot of nerves, trouble, braids with the courts in the future, but in the worst case you will never see your money again!

TIP: Read our older article on the risks of lending from private individuals.

The basic principle, therefore, is: do not make a quick decision and leave time to think! If a friend tried to push you in any way, take it as if a red light with the words "something stinks here - hands off"! If he (most likely) didn't borrow him at the bank, they know why and don't do it either!

It is always wise to stick to the principle of not lending your money to anyone. Do not be afraid to refuse even a close friend of your family. It is your decision to which you are fully entitled and your brother or colleague cannot be angry with you. Believe that because of this, your relationships will not be mutilated. However, if there were problems with repayment later - even for objective reasons - it could end up with a very unpleasant lawsuit and hostility to the end of life!

TIP: If a friend or loved one has come to you to rent, direct him to the bank. If it becomes clear that he is afraid that they will not approve the credit there, his options are still not exhausted. He can borrow from one of the non-bank companies. It is true that some of them do not have the best reputation, but it does not need to be so fast on the nail.

If you apply for a loan through our online form , you may not have a reason to worry. Only our verified subjects will be called to whom we guarantee seriousness and correct access.

However, if it is a really close person or a family member, who you know very well about the overall situation and the way of life, you don't have to say "no" at all times. But there is one important principle: never borrow a good word! Even if an oral agreement is acceptable for a loan between private individuals, it would be legal against the word in view of any possible later evidence.

The oral agreement is also valid but high risk!

The oral agreement is also valid but high risk!

This does not mean, however, that any loan concluded under an oral agreement is automatically unenforceable. You can also claim justice in this case, but you must have proof! And this can either be a witness or a bank statement, or email communication or sms messages in a mobile phone that relate to a loan.

Therefore, if you - despite all the risks - and declare that they are not small - have decided to borrow money without paper, at least follow these guidelines to save future tearing:

  • transfer the money to his bank account and include information in the description that will clearly identify the payment as your loan
  • if possible ALWAYS insist on a witness who, in the event of a lawsuit, will be able to confirm that you have agreed with the borrower on how to return the borrowed amount, but also the due date (otherwise the borrower may argue that you have not yet returned your money because you are they agreed on maturity later = and without a witness, in this case, it will only be a "rope tug", that is, just a word against the word.

What's on paper is given

The legal relationship from the loan agreement arises by agreement between the parties, but it is most certain that the agreement is in the form of a regular paper contract and is signed by the debtor and the creditor.

rsz_platba The way your loan agreement looks like is entirely up to you - its form is not legally prescribed. However, in order to have full legal certainty, remember to mark yourself as a creditor and known as a debtor, state the subject of the contract (which is the borrowing of the agreed amount of money in a specific amount), determine the exact manner and time of handing over the money to the debtor, the method of refunding the debtor and maturity of the loan.

You can also agree on interest, or agree that it is an interest-free loan. You can also arrange for the debtor (ie, the repayment of the debt) to arrange it either once or in installments. However, it must always be clearly stated in the contract! It is also advisable not to forget to determine the conditions in the case of non-compliance with the due date and the determination of default interest. If you are more interested, read this article on the loan agreement .

If you can not give advice yourself, look for a loan agreement pattern on the internet and adjust it to yourself. If you want to bet on 100% certainty, you can visit a lawyer who will prepare it professionally and individually for you.


Practical experience suggests that if you have already decided to borrow a familiar, worst form, an oral agreement, that is to say, a good word loan! When it comes to money, it's always serious, so don't be frivolous. You better treat everything with a properly prepared and signed loan agreement.

The best advice we can give you is: don't borrow at all and without exception! People who ask you for financial assistance should refer to obtaining a loan from a non-bank company. If there is a high probability that they will not be able to return the money, the financial institutions will find out and refuse the loan.

You as a natural person have only a limited opportunity to verify what his discipline of payment and overall financial situation are.

Tell him about us and refer him to our online form , which if he fills in and fulfills the basic prerequisites for obtaining a loan, he can have money on his account the next day.

Creditworthiness criteria for non-bank companies are set lower than for banks, so they can even get money even if they have a credit listing.


Statement GDPR – Agram Bank

by James Ford
Agram Bank (hereinafter: the Bank) appreciates your privacy and continually invests in the technological development of its sites that provide greater security. Browsing the Bank's website is anonymous and does not collect personal user data or any identifications (e.g., first and last name, phone number, email or other personal information, hereinafter: personal data). However, if a user through an Internet browser requests one of the Bank's offered services, in this case it is possible, depending on the need, to collect your personal data, which the user of the service voluntarily makes available to the Bank. By entering personal data in the designated place, you give the Bank the consent that the data will be used exclusively for the purpose for which it is provided. The Bank collects information collected by the Bank during your interaction, as well as data that it has learned from the provision of services to its customers solely for the purpose for which they are provided and to provide you with complete information about the products or services that you can use. The Bank does not sell, rent, or lend personal information or a list of users of its website to third parties. At the same time, the Bank hereby informs you that you have the right to access all personal data, the right to be deleted (the right to oblivion), the right to rectification, the right to transfer data, the right to object, the right to restrict processing, and the right to object processing personal data for the purpose of providing information about products or services. By using this website and by entering personal information on the site you agree, you have voluntarily made your personal data available, and that you are familiar with the way you collect and process data, and that you allow them to be used for the specified purposes. In order for the website to work properly and to be able to constantly improve it with the aim of better use, it is necessary to save the minimum amount of cookie information to your computer or mobile device.

What are cookies?

What are cookies? Cookies are information stored on a personal computer or a mobile device of the user at the time of visiting certain websites. By visiting the Bank's website (, cookies, text records recorded on the user's computer by the Internet server used by the user are used. Records are recorded by the user's browser and using the network destination (Bank pages), then sending the data to the browser that creates a text file - a cookie.

What is the purpose of the cookie?

Cookies are used to operate all the features of web pages and a better user experience, and can be divided into temporary (storage during a visit to the website) or permanent (they remain stored after a visit). The purpose of the cookie is to improve and enable the use of the Bank's Internet pages and its processes. It should be noted that by preventing or deleting cookies, you can disable the functionality of these features or cause them to work differently in your browser. Cookies can save specific information about computer settings and / or personal information, for which you must first grant approval. If you have not enabled access to cookies, cookies can not access your computer data.

How to disable cookies?

 How to disable cookies? Store and send cookies to you is not visible, but at any time you can choose in the Internet browser settings to approve or decline to save cookies, then delete stored cookies and other things related to them. Turning off cookies does not allow you to store the same on your own computer or mobile device.

Difference between first and third-party cookies?

 Difference between first and third-party cookies? First-hand cookies come from users using the web site you are viewing, which are divided into temporary or permanent ones. By using, the website stores information that facilitates the use of any re-access to this site. Third-party cookies are recorded from other web browsers located on the website, and these are pop up ads that cookies use for advertising purposes. The Bank's page serves Google Analytics statistics, and third-party cookie policies are available in Google Analytics.

How do cookies turn off?

 How do cookies turn off?

Loan Without Insurance – When You Need and When not Worth It

by James Ford
Loan without insurance Despite the law on consumer lending, which has come into force, a part of bank loans is still issued only in conjunction with an insurance policy. But is it possible to refuse the service imposed by bankers, or whether customers have no chance to get a loan without insurance.

What is the root of the problem

What is the root of the problem If the borrower has set himself the goal of obtaining a favorable loan from a bank, then even before visiting a financial institution’s office, understand the terms of the lending it offers.
  • what will be the interest rate;
  • whether they will give a loan without insurance in case of voluntary refusal;
  • as will be the case with additional commissions for registration of the contract, issue of cash on hand, work.
Such information need a claim on the Internet. Moreover, it is worthwhile to focus on the official banking sites and forums, where hundreds of existing borrowers share their opinions and experience every day.

UBRD :: Product By the way, about the latter. The claim put forward by online reviewers for credit institutions is the inability to refuse insurance. To refuse directly, as dissatisfied customers write, no one seems to prohibit. Only here the very fact of "renunciation" almost certainly deprives the borrower of the chances for approval of the application.

So really loans without commissions and insurance myth. And why do bankers behave in this way

So really loans without commissions and insurance myth. And why do bankers behave in this way Unfortunately, the problem is in the greed of individual banks. Some, having on hand a cooperation agreement with a specific insurer, receive a percentage for each policy sold. Others work with subsidiary insurance companies altogether, and therefore the expected profit is, in essence, clac pocket. And who among them will refuse additional money ... Credit managers are peculiar hostages of the situation. Having received instructions from the management, they aggressively offer insurance to customers. Those who refuse, consultants banally reject, supplementing credit questionnaires with untrue information: “the applicant was nervous and behaved inadequately”, “the client came drunk”, etc. And they cannot do otherwise, because the salary actually depends on the number of such sales.

And yet, how to get a loan without insurance

And yet, how to get a loan without insurance Contrary to popular opinion, the borrowers of most banks are not deprived of the right to choose. Only here what alternative offer bankers ... As practice shows, it is not profitable. If the borrower refuses to purchase an insurance policy, you will have to insure the risks of the bank yourself. Well, the interest rate, which the lender unilaterally will raise by at least 2-4 points, will be called upon to help in this. With the result that would be more profitable - to issue a loan without fees and insurance, or to receive a loan at the bank initially stated conditions - a controversial issue. However, the credit institution will receive a profit, and the borrower will pay an approved loan. Another interesting point. From personal insurance according to the law of, then the insurance of the subject of pledge is a mandatory procedure. So it turns out that an express loan or an unsecured consumer loan without insurance can still be issued, and a conditional car loan or mortgage loan is already in any way.

A little specifics

A little specifics So, as we managed to find out above, you can get a cash loan without insurance only if you increase the base rate. Otherwise, failure. But do banks disclose such information? Let us turn, for example, to the product line of the country's largest creditor. If you believe the information that is presented on the official website, a loan is issued at a savings bank without insurance. Moreover, it is issued at 18.5% per annum, which in the current economic situation in the country makes the offer attractive.

H Sberbank privatiruet.

Such a conclusion is based on the latest reviews of failed borrowers. There are no questions to the interest rate and additional credit conditions - here the bank has not announced conditions. And with insurance, according to borrowers, a lot of problems arise. Some complain that they are openly imposing insurance at the bank, others are angry at all that without prior approval for the purchase of a policy, bank managers do not even accept a boom, and there is little reason to not believe.

The bank VTB24 loan without insurance is issued in a similar way.

H ere, however, accept without question the ADA sent for review. However, the bad news is waiting for the borrower on the day of the cash withdrawal: it is not possible to enter into a loan agreement without insurance. Naturally, an enthusiastic applicant compromises and acquires this insurance. But the product is ultimately imposed in such an aggressive manner that the bank does not make a reputation.

Would learn from the "Agricultural Bank"!

Yes, here too, borrowers are pushed to draw up an insurance policy, but at the same time a bank provides some choices: the client will give consent - the minimum interest rate, refuse - add 2.5% to the total cost of the loan. By the way, like the politician bank "Ak Bars". Is that the refusal of insurance, he agrees to compensate for an increase of 2%.

What if the bank does not give a loan without insurance. Guide to action.

What if the bank does not give a loan without insurance. Guide to action.
  1. If bankers strongly recommend getting insurance, do not go with them to confrontation. On the contrary, it is better to express understanding and agree to conclude an insurance contract. Do not worry, the big expenses in the end it will not turn around. The law in this case, if you don’t waste time, you will calmly deal with those banks that do not issue loans without insurance and impose services without regard to the opinions of customers.
  2. Having signed a loan agreement and having received the stated amount, do not forget to pick up an insurance policy or two policies from the manager if the bank also imposes job loss insurance. When you come home, make copies of it, and at the same time find the official details of the insured organization on the Internet.
  3. The very next day, write a statement addressed to the general director of the insurance company, in which you clearly express a desire to terminate the contract "due to the absence of the need for insurance services." Do not forget to indicate in the application the number and date of conclusion of the insurance contract. And also leave the account details in the crediting bank, which you will find in the loan agreement.
  4. Make a copy of the application: send one by fax, the other to the email address. Please send the original along with the certified copy of the insurance policy by registered mail with a notification. At the same time, do not forget that if you have two insurances on your hands (the first one “insures” life and health, the second is stability of work), then there will be two statements.
  5. The insurance company will consider the application within two weeks. After this time, the cost of insurance, initially added to the loan amount, go to the specified loan account. In order not to lose sight of this moment, periodically call the insurer and check with the employees at what stage the application is considered.
  6. As soon as the due amount will be on the loan account (if at the deal, this will happen before the first payment date of the loan), go to the bank and write a statement about the use of these funds for the purpose of early repayment of a part of the debt. In the meantime, try to close the obligatory payment with other money.

After the funds are discharged, the bank will create a new payment schedule.

And already on it you will pay exactly as much as you would have provided a loan without insurance. Interestingly, the savings will reach 20-25% of the original amount of the overpayment. Understanding those borrowers that they are trying to get a loan without insurance by hook or by crook is not so difficult. A bank loan in itself is not a cheap pleasure, especially when deliberately supplementing with paid services, the final figures for future expenses are completely frightening. However, insurance on the loan is not required. Yes, it is possible that when you make a consumer loan you should refuse it, but in the case of a large and long-term loan, for example, a mortgage, insurance will play a big role. Mortgage is issued at least ten years. During this time, the borrower can become seriously ill or, for example, lose his job. Bankers will not be interested in problems: he took the money, which means he is obliged to return, moreover, without going beyond the billing schedule. Someone who, and the insurer in this case will help. The loan company will contribute. As for the costs of personal insurance - in a large loan they will dissolve. And the calculations clearly prove this: in the long run, a mortgage loan without insurance (and issued at an overvalued rate) costs no less than a loan from the insured.

Get to know Agram Bank – Agram Bank

by James Ford


About us

 About us

Agram banka dd Zagreb is the new name under which Kreditna banka Zagreb dd Zagreb started operations as of January 1, 2019.
After more than 20 years of business, Agram Bank has opened new business horizons and, with its innovative banking services and products, as the largest domestic privately owned bank, additionally approaches its clients to both citizens and legal entities, offering a wide range of banking products and services, as well as innovative insurance products.
Agram Bank's business strategy is based on good corporate governance practice, effective risk management, a transparent internal control system and appropriate market competitiveness.

Business policy and clients

 Business policy and clients

Agram Bank offers its clients a wide range of savings and deposit, credit and other financial services. He is working intensively on expanding the sales network, developing and selling innovative banking and insurance products. All this is accompanied by a constant increase in the number of clients, individuals and legal entities.

The Bank has open accounts in renowned foreign banks and correspondent relationships with numerous world banks with which it operates for the needs of its clients.

Through the implementation of stable business policy, the introduction of new products and services, continuous improvement, a clear orientation towards individual approach to each client, Agram Bank has gained high reputation and trust of numerous clients on the market.

Organizational structure

 Organizational structure

The business of Agram banka is managed by the Management Board, which consists of Boris Zadro, President of the Management Board, and Nataša Jakić Felić, Board Member. The Management Board adopts and implements the set business goals and strategy, while the Supervisory Board actively monitors the work of the Management Board and participates in operative decisions on the business strategy.

Regarding the registered activity, Agram Bank operates through three sectors:

  • Sales Department
  • Treasury department
  • Sector of Informatics

Branches are located in Zagreb, Split, Rijeka, Osijek, Zadar and Dubrovnik, and we are also available to clients through widely distributed branch offices throughout Croatia.

Loan to Payroll Card Holders – Benefits and Features

by James Ford

 Loan to payroll card holders - benefits and features  

A loan to payroll card holders is the right conditions for borrowing money.

A loan to payroll card holders is the right conditions for borrowing money.

Today, few people get paid by hand through accounting. Most enterprises and organizations enter into contracts with banks, open payroll accounts for their own employees and transfer money to them. Cooperation with credit organizations is beneficial for both employers and employees. For example, banks willingly give credit to payroll card holders on liberal terms.


Procedure for applying for a loan to a payroll card holder

Procedure for applying for a loan to a payroll card holder

If a person wants to take a loan from a bank through which he receives a salary, you just need to submit an application, since the necessary information about your own client and a copy of the papers from the lender are already available. After filing a loan application, the credit institution will make a decision within 2-3 days and notify the prospective borrower of the result.

Some additional papers, the bank will require, if the client has applied for a substantial amount of the loan, the monthly payments for which will exceed 50% of salary. In this case, the client will be forced to submit to the creditor acts on the availability of property for collateral or bring guarantors.


Methods of issuing a loan and the amount of funds issued

Methods of issuing a loan and the amount of funds issued

As a rule, an additional card is opened to the client, to which the loan amount is transferred or issued according to the option of adding an overdraft to the salary card. Cash loan holders of salary cards are rarely issued.
The client has the right to rely on a loan of up to 10 -15 salaries. To get a larger loan, provides the bank with a pledge or leads a guarantor.


Restrictions for future borrowers

Restrictions for future borrowers

Sometimes, customers encounter problems in obtaining a loan, even if they are paid through this bank. First, a significant part of credit institutions do not issue loans to persons who have not reached the 21st year, without a difference in the presence of sources of income. Secondly, in order to take advantage of the preferential terms of a payroll card holder, they need at least one year of work experience.


Advantages of a loan to credit card holders

Advantages of a loan to credit card holders

Having issued a loan in a personal payroll bank, the client is entitled to receive the following benefits:

  • preferential terms. When receiving a salary through a bank, the borrower is entitled to rely on a loan from this bank at a percentage that is 0.5–2% less than with a standard credit line;
  • rational repayment. The borrower, if desired, automates the return of the loan and will not need to make a payment every month through the bank's cash office. Having written an application, a part of the salary will be written off every month to pay off the loan;
  • saving time. A loan package does not require a package of papers, the necessary acts are already in the bank;
    remote access. Using online banking, the borrower will receive the right to manage a personal salary and credit account, simultaneously through an online office.
  • The likelihood of approving a loan application for a payroll card holder is much higher than for other borrowers.
  • Holders of payroll cards have the right to rely on credit holidays or loan prolongation.
  • If with a consumer loan, the savings amount to 2-3 thousand rubles, while with a mortgage, this amount will reach 40-60 thousand during the crediting period.

It does not matter that the credit to the holders of payroll cards is profitable; nevertheless, the client should not neglect the credit offers of other banks. Loans from other organizations are much more profitable, despite the preferential terms of the payroll bank.