What is a payday loan?
In common parlance, everyone knows what a loan is. When we speak in particular of consumer credit (between $ 200 and $ 75,000), we often think of consumer credit assigned to a purchase of automobile or work credit type.
However, it is quite possible to take out a loan that is called “unrestricted”: the payday loan. This will then meet a generic cash requirement. This type of credit can be issued both by a bank and by a financial institution specializing in loans.
In what situation it is interesting to use it?
Since this credit is not associated with a particular purchase, the use of the amount granted is free. The sum of money can therefore be used to obtain a little flexibility in its current expenses. When faced with an unforeseen event, during the provision of a service or for a miscellaneous material need, the payday loan will present a relevant interest. It allows combinations to be mixed and requires no supporting documents (invoice, promise to purchase, etc.). In addition, its amount can be spent all at once, or gradually, as an available reserve.
In parallel, the repayment of the loan is spread over several months (maximum 84) and the monthly payments are fixed in advance according to the possibilities of each.
Why choose a 100% online loan?
Today, the internet provides access to a large amount of information and, above all, to a good number of offers on a market. This is why banks and credit organizations offer their service from their website. Some of these structures even present the signature of the contract electronically. 100% digital subscription is then entirely possible. This requires that the electronic signature be offered as well as the online transmission of supporting documents.
In addition, making your request online allows simulations to be performed in a few clicks, then compare the offers with each other.
In addition, once the loan is taken out, zero paper is required and there is no risk of losing your contract or schedule. Indeed, all the documents are available as desired on his customer account.
How to easily make a subscription?
When you have decided to make your project a reality, you can directly carry out your simulation on one of the platforms available. All you have to do is estimate the total amount you would like and the amount you are ready to repay each month.
You will then be offered a number of monthly payments and a matching interest rate. Note: the longer the term, the higher the interest rate; it is a way for the lender to cover the risks associated with non-repayment.
Who is the leader in online credit?
Among the current credit players, Agree Bank offers a response within 24 hours to obtain a loan. In addition, this digital pioneer offers a new collaborative lending model. Unlike banks and credit institutions that lend their equity and earn interest, this start-up, born in 2009, offers private and professional investor funds. Interest remunerates these investors and Agree bank only derives its remuneration from a single application fee.
This solution has fairer features: accompanying customer service, analysts aware of responsible credit, no revolving credit, no prepayment charges, an amount capped at $ 50,000 … In a market where services sometimes lack transparency , Agree bank revolutionizes consumer credit!