The so-called personal payday loans are a type of financing with specific needs demanded for a given time and, usually, are usually of a moderate amount, are similar to consumer loans but are usually aimed at intangible assets as in the case of the realization. of a trip or some extra expense like a punctual party or a wedding.
What is a personal payday loan?
In these types of loans, credit opening contracts are usually simple. When comparing entities to choose from, it should be set at the nominal interest rate, although above all in the APR, it may seem to be somewhat complicated but necessary calculation, usually the same entities provide you with the total calculation so that you can add the percentage directly to the amount of money to request. The final resulting number results from various interests, the term of operation of the loan and the commissions stipulated by the financial entity.
Interest and other expenses of a personal payday loan
Another point to consider when choosing who to apply for the personal payday loan is to look at the opening or starting fees, partial amortization, cancellation, etc. since maybe 3% interest is more expensive in the long run with many commissions than really one at 5% and with better conditions.
Can you apply for a personal payday loan online?
Of course, much as companies currently offer personal payday loans online. That is, you can apply for a loan without leaving home. You only need a computer with an Internet connection. To process an online loan you have to connect to the website of a financial company that offers online personal payday loans and makes a completed application form.
Companies that offer personal payday loans
There are several companies that work with this type of personal payday loans that offer different possibilities and ask for different conditions, we find for example Good Finance that allows you to request it online, with an interest from 3% and that offers you a maximum of € 1,500 to return In a year, no matter if it appears in the ASNEF, this is about reduced loans, if we need a higher figure we find Citibank that without opening an account gives us a margin of up to € 6,000, similar to Codisive that in less than 24 hours it guarantees us between € 500 and € 6,000 even variable interest.
If we still need more capital, there are entities that offer more although they are a bit more demanding conditions such as Good Bank or BIG BANK, where you do not need a guarantee but if you are under 21 years of age, you leave the Asnef or you do not have income you are not a good candidate for your loans, The requirement is because they lend up to € 10,000 and must have a guarantee. It also happens with E-Bank, its conditions are good, they allow you up to eight years for the return and without commissions offering you up to € 50,000 but their conditions also require more than Codisive, for example.