When deciding on payday loans, we try to save them as much as possible. This is a very good solution because commissions and interest are very high in some companies. Currently, there are more than 15 loan companies on the financial market that offer new clients a promotional loan. Such a product primarily consists in the fact that no additional fees are charged, in addition to the costs associated with data verification. And here usually this fee is really symbolic and amounts to a maximum of 1 zloty. Although Wonga.com really expects a payment of 10 zlotys. rnsquared.com for more.
Prolonging the delay – what is the price?
Free payday loans are the most beneficial when you pay them back on time. Then we can expect, above all, that we will pay exactly the same amount that we borrowed. Unfortunately, it will be completely different in case of any delays. We will have to pay up to 25 percent of the total loan for the planned repayment deadline. With a loan of around PLN 1,500, it is a very high sum.
Free loan via the Internet
The above list includes loans granted via the Internet. Therefore, there is no problem to settle all formalities without leaving your home. It is really convenient, especially if we are not sure about things we can do outside of our place of residence. Another convenience is that the money goes very quickly to the customer’s account. Payments are made even within 15 minutes of submitting the application.
How do you get a break, especially free? It is not as difficult as it may seem at the beginning. All you need to do is finally decide on a specific company that gives you a break. Then choose the option “take a minute” or “take a loan. On every website, such a message may look completely different.
The next step will be to supplement your personal data. We do not have to be afraid that they are additionally shown somewhere. Because thanks to special encryption, they are completely safe. It will not be without another verification in terms of our credit history. An extremely important step is to check our data in such institutions.
Loan companies generally also expect data verification via a transfer in the amount of a symbolic fee. Most often, it is a sum of 1 grosz. There is nothing else left to us but just wait for a decision from the loan company. If we receive a positive answer, we fill in the sum in a very short form as well as the repayment time. In this way, in a few minutes we can receive the necessary financial injection. And best of all, we do not have to translate anything completely, to which we will pass the money.
Who is the promotional offer for?
We should be aware that loan companies have a carefully selected group of recipients of free loans. Therefore, we can safely say that they are offered only to new customers. As a result, some people may have a tendency to balance between different loan companies just to not pay interest on the loan. But it is also a very good way to save up to several thousand zlotys a year. If we really would take a new one every month, and pay it back on time.
The maximum amounts of free payday loans
Although free payday loans are really very tempting, each company stands out with top-down limits imposed on the amount of loans granted.
The payback period
The Temporary Holder will be cut off from all fees, provided that we pay it back completely on time. Financial institutions usually expect their clients to pay back the loan within 30 days. In this case, the usual exception is Wonga. Not only is this company expecting a higher verification sum in the amount of PLN 10. However, in return, the client gains 60 days to repay the loan without incurring any additional costs.
Unfortunately, if we are late in repayment within the prescribed period, we will be forced to pay additional costs. These include the postponement of the deadline. If our application is postponed for a specific period of time, we can count on costs in the amount of up to 25 percent of the entire payment.
Avoidance of repayment
Sometimes there are situations, that not only we do not make good time with the payment of a payday, we are still not doing anything to extend the deadline. Loan companies for such latecomers do not remain unresponsive. Namely, one can expect that the borrower will be struggling with the prompts, which will also be added to the sum of the debt. Another consequence is the charging of debt collection fees. Companies have their debt collection departments or sell debt to special companies dealing in the recovery of due money. As you can guess, all costs associated with this process are charged to the borrower’s account.
If these steps turn out to be insufficient, then the loan company turns to institutions such as databases company. There, by the name of the borrower, an appropriate note will be written about the fact that it is not solvent. The final stage and the method of debt recovery by the loan company is to take the case to court.
What determines the rate of cash withdrawal?
Most people who really care about a quick financial injection are worried about such dependence. There are at least a few factors that must be imposed on each other in order to actually receive money in a few minutes after submitting the application. Such factors include:
– having an account in the same bank – loan companies on their websites inform us exactly from which bank accounts transfers will be immediate, and for which the bills, unfortunately, will have to wait all business day.
– Transfer of the amount needed to verify the data – Without payment of a symbolic amount (usually a sum of 1 grosz) it is not possible to carry out a further verification procedure. And thus, we are prolonging the period of receiving a payment, or we receive a refusal immediately.
– Having a good credit history – a lot depends also on whether we are solvent or not. If our data in such institutions as databases are listed under the name of an insolvent debtor, we can expect a negative decision. Unfortunately, the time of work of the individual institutions from which the data were taken is also valid for the payday payment.
Under favorable conditions, the payment is really fast. Unfortunately, if, however, some factors contribute to delays, then we will have to pay for the money on the next business day. And if you apply on Friday evening, most likely the transfer will reach us on Monday.