Every now and then life sends us surprises – nice and less pleasant. Most of them are related to change: work, moving, renovation, health or family problems. They often require extra cash from us, which we don’t always have. Equally rarely, we can count on financial assistance from loved ones. Short term in such cases is the only and, contrary to appearances, the best way out of a crisis situation. Due to changes in the law and increasing competition on the non-bank loans market, companies are outdoing their offer attractiveness.
Online loans direct lenders: get your money quickly
Online loans direct lenders are often the only way out of emergency, unplanned and crisis situations in our lives. We can’t always count on financial support from our loved ones or to take advantage of the money set aside for the so-called rainy day. In these cases, online loans direct lenders are usually the best option for urgent financial assistance.
Which loan for whom?
Thinking about payday pay, we see a picture consisting of cash with huge interest and the cost of borrowing it. In fact, it can be different, as are the offers and products on the financial market. Some of them encourage free payday pay, others discourage by high APRC and a commission for granting e.g. a higher installment loan.
It all depends on our current financial situation – do we have a stable monthly income that will allow us to repay several dozen USD in the next 3 years or maybe we need a smaller amount for 1-2 months? Knowing exactly your ability to pay back in a given time and the demand for how much money we need, we will choose the best option.
Payday loan for the first time
This is probably the most attractive loan option currently available on the financial products market. Payday loan for the first time at no cost, provided we pay it back on time. If you urgently need cash up to USD 3,000, e.g. for car repairs or a wedding gift for a family, consider this option. A new customer has a choice of several dozen non-bank loan companies offering the first payday loan for USD 0. Their offers differ mainly in the amount of the maximum amount of cash and the length of time for its return. And so the amounts usually oscillate between 100 and 3000 USD, and repayment terms 30 to 60 days.
The first payday, based on the example of the popular and enjoying good reviews CashOn, is cash 3000 USD to 45 days to pay it back, completely without costs. After exceeding both the deadline and the maximum amount, costs appear automatically, determined by the upper limit of the Anti-usury Act.
Payday loan for the second time
When deciding on the next – second, third or nth loan in the same non-bank company and having a positive history of repayment of previous obligations, we can also count on attractive promotions. It will no longer be payday payable for USD 0, there will be costs in the form of interest, APRC, but maybe we can negotiate smaller loan fees, such as a lower commission, with the Lender. Loyal customers will also benefit from faster verification cash because they are already known to the company and increasing amounts of installment loans.
On the other hand, why not take advantage of the privileges for new customers in another non-bank company? The first payday loan for free is still the best opportunity to borrow badly needed cash. And there are at least several dozen such offers on the market, so it’s worth using it, and in case of a need for a larger installment payday, return to the Lender we already know.
Short-term payday loans usually end at amounts of 2-3 thousand. USD, installment loans mean you can receive up to USD 20,000 USD to be repaid within 3 years. This offer is addressed to both new and regular customers, except that the Borrowers already known to the company have a better chance for higher cash. To receive tens of thousands of USD in a non-bank loan company, you must meet strict conditions: be an adult, have Polish citizenship, stable income and a positive history of repayment of previous obligations.
Instant payments are also higher fees in the form of APRC, fixed interest rate, commission and preparation fee for granting such a loan. Fortunately, everything is top-down from the 2016 anti-usury act, which established that all costs of a given loan cannot be greater than 25% of the borrowed cash and 30% of this sum per year. In practice, this means that a non-bank loan company cannot request from us a total amount of borrowing costs greater than 100% of the amount of cash borrowed.