Moments online

Moments online

When we need fast cash for unannounced expenses, we try to take out a loan or credit. We usually go to banks for this purpose and this is a good way out of the situation, if we have adequate earnings and do not fall behind with other financial obligations. Banks approach their potential borrowers quite restrictively. We can count on greater flexibility in this respect in lending companies. They offer simple and convenient online briefs. Here, the chances for quick cash increase significantly. This type of loans can be obtained even by people with low incomes, and those in debt, which are listed in the office database as unreliable borrowers. The formalities connected with granting a temporary loan are not complicated. The procedure takes place in an express time and the money on our account can land after just a dozen or so minutes. In this article we will try to familiarize you with the nature of such loans and all the issues related to them.
Moments online
How to get a momentary break through the Internet? Just fill in the loan application form on the loan company’s website. It is a very simple activity. It is enough that the application contains basic information – personal data, type of employment and wages, number of dependants or other financial obligations. On this basis, the lending company will analyze our creditworthiness. But it will not be as restrictive as it is in the case of banks. At this stage, the loan company also checks our credit history in the databases of the office, the application and the National Court Register. But be careful – not all companies do it. Some of them omit the office at all, limiting themselves to others. What does it mean? Such a situation opens a gateway for debtors to obtain a loan. These people, through untimely repayment of liabilities, are listed in the office database as unreliable borrowers. Such persons have no chance of getting a loan from a bank. Thanks to the moments, they gain access to cash.
Instantaneous costs
Borrowing from lending companies, as in the case of banks, involves costs. In the case of temporary loans, these costs are much higher than in the case of bank loans. With one small exception, as discussed later in this article. In order to estimate the total cost of the loan, we should pay attention to the APRC, i.e. the Real Annual Interest Rate. It includes not only the interest rate of the loan, but also the commission and preparatory fee. The APR is calculated by both banks and loan companies on the same basis as in the Consumer Credit Act.
However, some specialists believe that the APR measure is not perfect for comparing different loan offers. This is related to the period for which they are granted. It usually takes up to 12 months, and the most popular are 30-day snapshots. In such a short period of time, due to the calculation method, the APR gains horrendously high levels, reaching far over 1000 percent. According to these specialists, APR is a good measure for loans with similar parameters – similar amount and repayment term.
Free loan
We mentioned early on the exception to the rule that bank loans are always cheaper than instant loans from lending companies. This exception is the first free moments. This is a promotion addressed to new customers. If you are using the offer of a given loan company for the first time, you will receive the loan completely free of charge. This kind of promotion was introduced to the American market for the first time. Later on, other companies started to model themselves on it. The promotion turned out to be a great promotional idea.
What is this kind of loan? The rule is simple: you give back as much as you borrowed, in a strict time limit. If you are late with payment, the promotion expires and the loan company charges you with costs – commission and interest, as in the standard offer. Usually, a temporary loan is granted for a period of 30, 45 or 60 days. However, you may also find offers where the repayment term is 90 days or even 12 months. If you are able to repay the moment on time, this is the perfect loan offer. You receive cash completely free of charge.
You must remember that the offer is addressed only to new customers. If you want to take another moment in the same company, you will have to take into account specific costs. The commission, preparation fee and, above all, interest rates can be high in this case. It is worth considering whether we will be able to repay this financial obligation. Perhaps a better option in this case will be momentary installments? Then the repayment will be spread over time into acceptable monthly installments.

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