Credit bank credit – 12000 USD with Easy Discovery.



Uncovered Easy or trust Onecredit – Which is more convenient?

Uncovered Easy or trust Onecredit - Which is more convenient?

The possibility of seeing an installment pass or the credit card balance without the risk of payment being rejected is a guarantee for peace of mind. However, obtaining a credit or a current account credit can be an impossible task with some banks or generally very difficult with others. This is not the case with Bank Onecredit.

On the contrary, the Sparwesse bank provides two solutions, namely the Onecredit bank credit for businesses and the ‘Easy discovery’ product for individuals. In both cases his account holders will have:

  • possibility to use more funds than those active on the account;
  • certainty and cost transparency;
  • clear commissions;
  • medium-low interests.

In particular, with Venvert Facile, Onecredit’s credit line was given more flexibility, thanks to the ‘ flat formula ‘ which allows the credit limit to be used to be changed over time, within the minimum and maximum amounts that have been pre-evaluated and in any case indicated in the contract.

The credit limit for companies does not provide for a maximum amount but this will be determined after analyzing the liquidity needs and the ability to repay the asset. Obviously the highly customizable nature of this second product does not allow us to determine the conditions upstream, which can be assessed at one of the branches.

Fido conditions Discovered Easy

Fido conditions Discovered Easy

The calculation and payment of interest accruing on Onecredit bank credit lines, as required by law, is quarterly. As for the commissions we have 0.50% for the provision of the sums and, in the case of trespassing of the fixed, the Civ which is equal to 30 USD.

The rate depends on the amount of the overdraft, generally with a distinction between credit tranches of less than 5000 USD and above this threshold. In particular, as of 3 May 2018 there are 4 sizes of credit lines that can be granted, bearing in mind the amount credited to the current account or the demonstrated repayment capacity.

The overdraft can be requested for the My Genius account or for the My Genius Private account, or for one of the ordinary Onecredit accounts.

Onecredit credit terms and conditions

Onecredit credit terms and conditions

With Easy Discovery there is therefore a liquidity reserve for an amount equal to 4 possible alternatives:

  • 1500 USD
  • 3000 USD (see also Best online loans of 6 thousand USD )
  • 6000 USD
  • 12 thousand USD.

In order to obtain the liquidity reserve, a monthly fee of 2.5 USD will be paid; 5 $; 10 USD and 20 USD. You can ask to vary from one band to another without paying commissions by making a request to the bank to make its own assessments on the income situation.

But here is the most interesting part because while the private credit is often granted mainly behind the guarantee of salary credit, the Easy Discovery is granted also to those who present the Uniquo model as autonomous and freelancers. In addition, the great flexibility of the system makes it possible to switch to the amounts needed by requesting adjustments without having to incur costs, by closely linking the amount of the liquidity reserve with the monthly fee to be paid (see also Reviews of Onecredit revolving cards ).

For example: do I need a reserve of 1500 USD to feel comfortable? I pay 2.5 USD a month. Do the conditions change and should I be able to count on a larger amount (for example 6000 USD)? Then I will pay 10 USD a month. Finally, the emergency has passed? Then back to 1500 USD paying only 2.5 USD!

Costs and interest

Costs and interest

For the costs associated with the Onecredit Easy Discovery loan, the following must be considered:

  • the variable cost DIF (for the provision of funds) which is equal to 0.50% of the amounts granted on a quarterly basis;
  • the fixed fee applied according to the chosen credit line size.

Both of these costs are paid regardless of whether you use the liquidity obtained with the overdraft (so even if you never go in the red).

Then only on the sums used of the loan is the application of interest. The Tan is fixed at 8.90%.

What is it for?

What is it for?

Both the Onecredit bank credit for Business and the Easy Discovery are products reserved for its current account holders. As already mentioned for private individuals, the ownership of the My Genius account (also in the Private version), or one of the other accounts with or without a package is required.

So the first thing to do is to open an account, such as My Genius (which has the advantage of having a package system that allows you to calibrate the management costs based on the actual use of the account), choosing the modules you need. Then, as a next step, you will have to fill in the forms for granting the Easy Discovery or for granting the Onecredit bank credit.

How to open an account?

How to open an account?

To find the account that best suits your needs, go to the official website page by making a first choice between an ordinary account or My Genius and then select Next.

Then you will have to indicate if you are more or less than 40 years old and other ‘basic’ information that allows the system to choose the most suitable profile type:

Once the profile has been established, there are two possible choices:

  • go to a branch having made a first appointment to avoid files;
  • Click on the button Request online account

At this point you will have to provide an e-mail address to obtain the link from which to start the account opening request procedure.

Onecredit current account conditions

If you are still undecided, after opening the account, you can simply ask for a pre-assignment pre-assessment. At the moment in which one is convinced or needs to exploit this sort of voucher, it is therefore possible to immediately obtain the activation of the service of making available the reserve liquidity. These products are also accessible to those who are not Italian citizens, as long as they have a valid residence permit.

Conclusions

Conclusions

The Onecredit overdraft or credit line for private individuals presents two interesting ideas:

  • even quite high amounts (up to 12 thousand USD);
  • the possibility of granting also to those who do not have a monthly salary credited by carrying out activities as a self-employed or professional worker.

It is also interesting to be able to request a change in the amount of the credit by passing from one to the other of the 4 sizes to the others (with the sole limit of its own repayment capacity which, as has been said several times, is subject to evaluation by Onecredit) and the application of a unique Tan and Taeg. For companies there is a need to evaluate the personalized assignment method according to specific needs.

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