There are plenty of payday loans on the market, but few know what the best loan offers are. Each company advertises its offer as the most advantageous, but the best payday loan
has specific parameters and you need to know these parameters. In the assessment of each payday loan,
you must take into account many factors that determine whether the offer is ultimately favorable or not. The best payday loans
can be easily selected on the basis of several parameters below. The most important thing is the interest rate. The lower the interest rate on a given payday loan, the better. Free payday
loans, i.e. loans for which customers do not pay any fees, are the best on the market. Such loans are made to new customers, but some companies also offer one in five loans for free. It is understandable that the lower the interest rate on the loan, the better. If the loan has an interest rate similar to a bank loan, i.e. on a scale of 4 to 8%, it can be assumed that this is a good offer. Less financially advantageous loans have an interest rate of 9 to 10%. The best offers must have the lowest interest rate possible.
The amount of the commission for the best payday loans
The smaller the loan commission, the better. The provisions of the Anti-usury Act and the Civil Code assume that the commission cannot be higher than 25% of the loan amount, but of course it is always worth targeting cheap payday loans
with an even lower commission.
Minimum and maximum loan amount
A good loan should be made from the lowest to the highest possible amount. The best payday loans are granted in amounts from $ 100 to even $ 10,000. The reason why such a discrepancy is very beneficial is the fact that one customer will need to borrow, for example, only $ 200, and if the company offers payday loans from $ 500, then such customer will either resign from the offer or decide to borrow more, than I need. However, the maximum loan amount is definitely more important, because the more you can borrow, the more advantageous this offer is. New payday loans
are available in quite large amounts. Instead of two or three loans from different companies, you can take one larger loan in this case.
Best payday loan repayment date
The best loans
have relatively long repayment terms, and in addition, the repayment date can be extended for an additional fee. Most payday loans are granted only for 30 days, but we also have payday loans online
that are granted for up to 65 days. Not only that, there are also payday loans
on the market, which can be granted for up to 60 months, which means payment in 60 installments.
The amount of fees for extending the payday loan
Cheap loans are primarily those offers in which additional services do not increase the cost of the loan too much. Above all, the fee for extending the repayment date is important. In most loan companies, you can extend the loan repayment date by 7, 14 or 30 days. The more we extend the repayment date, the higher the cost of the loan. The ranking of payday loans online
shows that customers mainly choose those payday loans that do not require high fees for extending the repayment date.
Free payday loans
Client verification method
24h payday loans
can be verified in two ways. It may be a verification by means of a verification transfer from the account of the person applying for a loan or it may be a verification without transferring a penny
, consisting in a few seconds' connection with a bank account and reading the account history. For people who have an overdraft on their account, the best payday loans
are certainly those that do not require a verification transfer.
Requirements for payday loans
The main issue in the case of loans are the minimum requirements. Usually, the loan company requires an appropriate age, sometimes it is just 18 years old, other times 21. Additionally, each such company requires that the applicant has Polish citizenship and an address in Poland, has a bank account, a mobile phone number and an e-mail address. It is also necessary to provide your PESEL number and the number and series of your ID card. These are the basic requirements and if the specific best payday loans
require only such a set of data, they can be considered very good.
However, even the best payday loans
will sometimes require confirmation of the income obtained. This is especially true for loans for higher amounts and longer repayment terms. The need to provide such a certificate does not make payday pay less advantageous. On the contrary. Sometimes such payday loans may have lower interest, and thus cheaper. In fact, the more requirements there are, the better the loan company knows about the customer's reliability and the better the financial conditions it can guarantee.
The best payday loans
The possibility of refinancing payday loans
Currently, the best payday loans
are also those that give us an alternative when we have a problem with their repayment. Such an alternative is, inter alia, refinancing payday loans
. The ranking of payday loans often takes into account whether a given company offers such refinancing in a friendly loan company. The refinancing service is unfortunately quite expensive.
Magdalena Mazur Twitter
She graduated from the University of Economics. She specializes in credits, loans and payday loans that can be applied for online. He knows the rules of online offers and is happy to write about them so that anyone interested in taking payday loans online knows what to look for.