What is a revolving loan?

What is a revolving loan?

Revolving credit is a short-term loan with the possibility of renewal up to the agreed limit. It is similar to an overdraft, but it is independent of the current account. One of the latest is Zaloan Credit.

This is provided by Zaloan Bank, so far known mainly as a provider of short-term loans up to CZK 10,000. The maturity of these loans was a maximum of 45 days. However, you can use Zaloan Credit indefinitely.

What is Credit Limit, or Zaloan Credit?

What is Credit Limit, or Zaloan Credit?

Credit Limit is similar to a revolving loan. You can also draw money (credit) to your bank account at any time up to the approved limit (CZK 2,500 to CZK 80,000). Then, each month, you pay the minimum amount (daily interest is from 0.189%) or even a higher amount at your discretion. You can also repay the entire loan with interest and thus regain the approved limit. When you repay a loan, the bank can raise the limit. You can easily calculate everything with an online credit calculator.

Revolving Credit Limit is an ideal financial reserve for worse times. You only ask for money once, after approval and verification, money is available for you to transfer to your bank account at any time.

Revolving credit is a popular credit product for its flexibility and freedom.

More about Zaloan Bank’s Revolving and Loaning

More about Zaloan Bank

CZaloan Credit Revolving Loan is intended for all Czech residents older than 19 years. Credit Limit Application is served online and handled very quickly. You will only fill in basic personal data, OP number, permanent address, account number, monthly income and expenses.

We will communicate primarily online. Moreover, the popular Zaloan quick loan concept – money within 1 minute on account – is based on the website, ease and speed of use.

Revolving credit is a popular credit product for its flexibility and freedom.

4 Client Experience with Credit Limit Credit

4 Client Experience with Credit Limit Credit

  1. When Mrs. Marcela N. learned about Credit Limit, she had no idea what a revolving loan was. But she found herself used easily, intuitively, and now serves her repeatedly. He says : “Our household has a credit of CZK 35,000 as a financial reserve. In fact, we are repairing a house, so we sometimes have a loan for material in action or a craftsman. Zaloan Bank service works nonstop and is very fast. ”
  2. “ I have a Zaloan Credit up to CZK 5000. I haven’t taken a loan account yet, but I assume that in the event of sudden financial problems, this online revolving will save me immediately! ” Ms Ivana S. joins.
  3. Mr. Daniel P. states: “Zaloan Credit is the best, a revolving loan that works repeatedly as a loan without a register. Zaloan does not really require you to visit your branch or scan documents. “
  4. “I used the Credit Limit loan account four times and always without problems. I recommend! ” Adds Mr. Petr R.

Revolving Credit Accounting

Revolving Credit Accounting

If you’re a private person, don’t worry about revolving credit billing. However, the entrepreneur must list his resources. It is best to contact the accountant who will arrange everything. So just briefly. In accounting, a revolving loan is a foreign source, a commitment that the entrepreneur incurs against the bank. Short-term, medium-term and long-term loans are accounted for differently. The loan is charged immediately after the conclusion of the contract, but the accounting case only after the movement on the current account or at the cash desk has been recorded. Also, the charging of related fees cannot be overlooked.

Everything is regulated by the Accounting Act and the Czech Accounting Standard.

More about Zaloan Bank’s Revolving and Loaning

Revolving Credit Credit Limit is intended for all Czech residents older than 19 years. The Credit Limit application is submitted online and is handled almost immediately. You will only fill in basic personal data, OP number, permanent address, account number, monthly income and expenses.

We will communicate primarily online. Moreover, the popular Zaloan quick loan concept – money within 1 minute on account – is based on the website, ease and speed of use. You can contact us 7 days a week, 24 hours a day.

Summary: 6 Reasons for a Zaloan Revolving Loan

  1. Repeated online loans of up to CZK 80,000 – arrange an online limit of $ 2500 to $ 80,000 at Zaloan Bank, and then draw recurring loans with no administrative delays while earning the first loan interest-free. To do this, take advantage of other free services: Account Management, Payment Holidays and Change of Due Date.
  2. Continuous Lending – If you choose Zaloan Bank, you can easily settle loans and everything around them from home, at any time of day or night, over a computer or mobile. We also remind new clients that the first 30 days are 0% interest.
  3. Online Loan for Everybody, Even Installment – The Zaloan Credit Revolving Loan, with repayment option, has proven to be an effective aid for self-employed, students, parents to maternity, seniors or the unemployed, which other financial companies often forget. Zaloan loan is almost for everyone, it is enough to be a citizen of the Czech Republic up to the age of 85 and without previous obligations to this bank.
  4. Personal Loan Comfort – Zaloan Bank acts individually and always tries to find the best solution according to the actual situation of the particular client. All you have to do is choose the most pleasant way to communicate with you and the bank staff will immediately answer any questions you may have.
  5. Using Money for Anything – Thanks to the open Ferrotum revolving credit account, you can get a repeated short or longer loan, for example a new TV, a used car, a household emergency payment… You could use a smaller loan to buy Christmas gifts, furniture, a garden machine in action…? Or do you suddenly have an electrical appliance left and you need a new one? For all such and similar cases there is a Zaloan Credit loan.
  6. Fast and trouble-free approval – when completing your Zaloan loan, you usually need to complete an online form and upload copies of both sides of your ID card. “Great. I did not really expect such quick and easy approval, ” Mr. Radek confirmed. Leave your past paperwork and come with us today for loans before paying new, modern.

Try for yourself how a good solution is Zaloan Credit Revolving Credit!