Loan until payday – the benefits of such a loan, and how to get it
Many banks now can be found an interesting offer – a service to payday lending. Such activities may be particularly relevant in the case where there has been any bargain, but at this point in time there is no need of money.
loan to zarplatyA salary will be only after some time – days or weeks. Naturally, the wait is not possible, since the time of payment of wages and better offer may be over. Thus, the services of the bank in such a situation looks quite useful and relevant.
Advantages that distinguish loan until payday
The most convenient in this version is the design of lending a minimum package of documents. Another interesting fact is that this is not a credit loan in every sense of the word, because the money does not appear in the credit history, and have no effect on her.
Scheme for obtaining money in most cases is – he needs the customer purchases the goods and to pay for the use of their bank card. If you own funds on the card account are not sufficient to complete the purchase, the missing amount is added by the bank. Learn more about online payday loans.
When accrued wages, borrowed money and a percentage for the use of moving back to the bank – that is, they just deducted from the card account. Thus, the loan repayment automatically, even without the borrower.
Of course, the market has dozens of banking institutions and different banks offer different interest rates on such loans. The fee for the use of funds of the bank does not exceed 24 percent of the amount on the most disadvantageous to the borrower proposal.
In most cases the fee is in the range of 15 to 20 percentage points. Naturally, the maximum amount of the credit is limited – it can not be more than half of the monthly income to the card account.
What does it take to get a loan to pay
To get this particular loan, the borrower must provide certain documents to the bank – it profile of the applicant, the income statement for a period of time, as well as a passport. There is another necessary condition for obtaining a loan – it may vary depending on the bank, but is typically $ 500 – is the amount of the average monthly income of the client.
With lower wages obtaining the loan becomes problematic. In addition, you must be a customer of the bank for a period of time – usually a minimum period of three months. It is interesting that these loans can be obtained even in stores selling interesting goods, as well as appeal to a specialized non-bank credit institutions.
Often these organizations can work remotely – you can leave a request by fax, or to place on their websites.
Loan until payday and its shortcomings
This credit is not only the benefits, and the loan is risky. For example, a borrower may be financial difficulties, and thus spoil the return of the loan’s financial position even more. If this service is a systematic, risk of the borrower and does fail.
The interest rate of the loan is high enough, on consumer credit in most cases it is much lower. Some banks credit will be automatically resumed after having been extinguished, and it is also necessary to consider signing the loan agreement.