If you go to the bank, it can take weeks before you get a loan through. You need to attend meetings and fill out documents. In addition, you need to provide security for what the loan is used for, etc. It is not always as fast as one would wish if one is missing money now and then.
If you are in urgent need of money for Christmas, for example, a quick loan (quick loan) may be the right solution for you. You apply online where you choose the amount and maturity. You will be given an indicative interest rate, fill in your private information and vupti, then the application is done with just a few clicks.
When you submit an application for a quick loan
A few hours before answering – in some places max. 15 minutes. You get the answer either online per e-mail or you will be called by an employee. Either way, you will be made aware of the details of the loan. Be it creation fee, administration fees and the interest they have charged you based on your credit rating.
The amount you can borrow depends on the loan provider, but it usually ranges from USD 1000 and in some places up to USD 100,000 Interest and fees can fluctuate according to the amount you want to borrow and the installment period you choose. When you consider the size of your loan, it may be worthwhile to think a little further ahead. Do you stand again next month and need more money? In that case, it will probably pay off to borrow the extra money right away. Creation fees are high, but in most places a uniform amount regardless of the size of the loan. An entry fee costs around USD 2000-4000, so there is money to save.
Quick loan’s little brother
The advertisements about loans that are often running on TV are about borrowing money even faster and easier than usual. The latest shot on the loan line is SMS loans. The SMS loan serves as the quick brother’s little brother. With it you send an even easier application and you get even faster answers. In contrast, in most places the loan amount is not quite as high. So you don’t even need to turn on your computer to borrow money now and here. Instead, you can send an SMS and get replies in seconds. And it is open 24 hours a day.
When do I get the money?
From the time you receive an acceptance of your loan request until you actually have the money in your account, it takes 1-2 business days. These are the fastest types of loans, although they can be worth many thousands of dollars. The SMS loan is most often the fastest processed since it is primarily lower amounts involved. Here you can in many cases get the money the same day the loan has been approved.
Precisely because the loan allows you to get money in hand at a furious speed, it also costs a little extra. Quick loans are the most expensive type of loan in the long term. On the other hand, it is very flexible in relation to the repayment. This is not to say that they allow the loan to default because that is not the case. In addition, due to the large competition in the market, many providers choose to offer interest-free periods of 1 or 2 months. If you repay the loan very quickly, there will not be the large expenses associated with it.