Skip to main content

MoneyBack Bank Personal Loans Meaning and Facts


Moneyback loans as the term suggests is a way to earn money from your personal loan. Money Back Bank offers a personal loan at competitive market rates of interest in UK and you can avail an amount of £ 20,000 as personal loan.
Moneyback Bank  offers personal loans to borrowers and along with this facility if the borrowers avail the protection for the personal loan amount,  you as borrower can earn as much as £ 200 as money back. This scheme helps you to pay less  as repayment of your loan and saves from the loan repayment amount. The condition here is the borrower has to take out full personal loan protection from Moneyback Bank. Each year you get money back, a bonus for the policy, and you thus earn money from your loan. This amount is added to your account every year for the full term of the repayment of your loan, that is for total years of your loan. This amount cannot be availed before a year and also the amount is added to the account from here your monthly repayments are debited. Only on the condition that you do not avail any services from your policy that is you do not cancel or claim any amount on your loan protection policy.
Also the borrower need to have a good reputation of repayment history, that is not skipped any monthly repayments. Here the Moneyback policy is an amount the company offers for the policy protection you have  taken from them, and not if you are insured from some other finance company. This cash back offer is very luring for the borrowers to avail personal loans but it is clear that personal loans are available at very high rate of interest and along with this you have to take an full protection policy from the Moneyback bank, so the bank already has offered you a larger amount as loan, and are charging a high rate of interest,  and thus paying back some will not make any difference for them.
All the Best from Rizwana!
Labels:

Comments

Post a Comment

Popular posts from this blog

Debt Management for Personal Loans

Personal loans can offer individuals a way to have the funds for an array of uses. Some are necessary while others are for pure enjoyment. It is important that you consider the financial obligation that comes with personal loans. Too often, individuals access money quickly then struggle to repay it. If you don’t have a good budget in place you may find yourself unable to make the payments on your personal loan. An area where many individuals get into trouble with personal loans is debt consolidation. Within a year most people who use personal loans for this find themselves in even worse financial shape. This is because they have not altered their spending habits any. The result is they charge their credit cards up to the limit and now have those payments to make again as well as a personal loan payment. They may soon find they are drowning in the swimming pool of debt. Enrolling in a debt management plan may be a great alternative for you to help you meet your financial obligation...
1 comment
Read more

Very Important Tips for Home Sellers - A Better Way to Sell Homes

A better way to sell homes. With lenders some tips to improve their lending customer base I have come up with a few practical suggestions. Looking at advertisements and offers during festival seasons everyone feels that this is the right time for purchasing a flat and along with the flat come home loans as we all know a small flat costs for nothing less than 20 to 25 lakhs and a bigger one would cross the limits of a crore. With Lodha builders advertising a 6 crore flat with latest amenities it is understood that people have the purchasing power and can get a home if they really want to. People are hesitating to buy new homes and with few exceptions where money does not matter anyway they purchase for investment purposes, and need to divert their finance and what better way than in housing sector as this field has assured and guaranteed returns. Majority of people applying for home loans are from the private sector and they may not have all the documents in place which leads them to se...
Post a Comment
Read more

What are Interest Only Home Loans – Simplified Facts on Interest Only Home Loans

What are interest only home loans.   ‘Interest only home loans’ means that the borrower ends up paying only the interest for some years and then the principle amount is added later for years.  This has risen as a better option for many who are not in position to pay large amounts as EMI’s in present years. Usually for homes bought in construction phase, you keep paying small amounts of interest. In this type of offer the lender gives money to the borrower and the purchase deed is completed. The borrower becomes the owner of the house. Every month he has to pay a small amount that is interest to the principle amount (loan amount). During later years, as    the construction progresses and the housing complex is ready   he has to pay the interest along with large sums of the principle amount. This option may be good for individuals who are highly qualified and have a new job and they know that over the years their salary is going to increase with their experience....
Post a Comment
Read more