Unexpected expenses can effectively complicate the financial situation. Instantaneous payday, which is the easiest way to quickly fill a hole in the budget, will not always work. Bigger needs are just as much money, which cannot be repaid within the prescribed 30 days. Deciding on an installment loan, on the one hand, we gain great comfort in the cyclical repayment of small parts of the loan, but on the other, we have to swallow the bitter pill, which is the cost of such a commitment.
Installment loan without certificates – very different costs
Non-bank lenders who offer so-called loans without certificates, direct their offer to various target groups. It should be noted that a loan without formalities does not mean that the loan company will not pay attention to the applicant’s creditworthiness. Quite the opposite – as it is a long-term commitment, the lender must be sure that the applicant can pay back the loan unhindered throughout the duration of the contract. Therefore, the creditworthiness will be determined not only on the basis of the statement entered in the application, but often also on the bank statement or through the application for instant verification. In addition, it will track the history of all previous databases and the state of possible debt.
Negative information in TLV will not always cancel the chances of getting a loan. Some lenders are willing to grant loans without a TLV or to turn a blind eye to a small amount of debt. Some of them will not even look at these bases. The risk of granting a loan in this case, however, must be offset – usually the higher earnings of the lender. In companies that approach this matter more loosely and allow a credit history that is not quite clean, more expensive loans will be offered.
Bretty – the best loan
The cheapest lender on the market is Bretty, specializing in both payday loans and installment loans. An installment commitment in this company can be incurred for a maximum of 60 months in the amount of USD 20,000. We will pay USD 10,620 for such a loan, with the APRC equal to 18.24%. However, the borrower must remember that it is necessary to meet quite high requirements. Of course, these requirements will still be incomparably smaller than with a bank loan. In this way, a Bretty loan is definitely easier to get and available completely online, and at the same time almost as well. When choosing a loan in Bretty.
However, these are not insurmountable conditions, especially since Bretty, like other non-bank institutions, will accept any kind of income – it does not have to be employment under an employment contract, preferably for an indefinite period. Bretty will also agree to grant loans with no age restrictions.
Free installment loan in Provident – it won’t be cheaper
Provident is one of the first lenders who decided to launch such a promotion for new customers. Thanks to this, we can use the installment loan without incurring any costs. Nevertheless, there are some restrictions that make not everyone happy with a free loan. At Provident, we can borrow no more than USD 1,500 in four equal installments. This may suggest that a free installment loan is more like a free payday loan than a real installment loan, which we follow if we need more cash.