Instant loans - what you need to know
If you are looking for a fast instant loan, you have come to the right place. An instant loan is usually a loan you take if you have unforeseen expenses.
With MyCredy, you can find the perfect instant loan tailored to your needs. Here we have compiled the best instant loans on the market, in the same list, so you can find the best of the best!
Instant loans belong to a group of loans called unsecured loans. These are loans where you don't have to worry about a mortgage or equity. All you need to do is have good enough finances for the lender to believe that you can repay the borrowed loan.
These are some of the ways an instant loan can be used for:
- Purchase of mobile phones or other electronics;
- Car service;
- Home remodeling or furniture purchase;
- Unexpected trip to the dentist.
The advantage of an instant loan, of course, is that you can use the loan amount as you wish. No one cares what you do with the money, not even the lender that lends you that amount.
Increase your chances of getting a loan
Due to customer loyalty, most modern lenders provide loans without special requirements. People with a bad credit history also have a chance of getting a loan.
If you are unsure about the 100% possibility of issuing a loan and want to increase your chances of getting a positive answer, then there are several ways you can do it: fill in the application carefully, do not lie to your lender about your details and apply for a loan from several lenders at the same time.
Is it possible to get a loan free of charge?
More and more lenders are offering interest-free loans. Here, for sure, many of you may be thinking: "How do you get an interest-free loan? Is that even possible?" Yes, you can get a loan without interest, without overpaying anything. If you have borrowed 10000 ₱, then after a certain time you will have to return the same 10000 ₱. There is very strong competition between lenders, so loan companies often offer to get the first loan without interest, thus attracting customers.
It is important to note that an interest-free loan does not always mean a loan completely free of charge. When applying for a loan, it is necessary to pay attention to whether the lender does not charge a commission fee for issuing a loan, etc., so we definitely recommend paying attention to additional costs.
Pay attention to the contract!
The loan agreement is an important document that must be read carefully before signing. If you notice any questionable information or if the information provided is difficult to understand, it is better to consult the lender's support team, ask yourself questions and only then decide whether you want to get a loan from this particular lender!
It's not hard to get a loan these days, but you need to be careful about what kind of debt you are involved in! Don't borrow more than you really need!
Information about payment delay
There may be situations where making monthly payments can be temporarily cumbersome and payment delays may occur. To avoid problems, we recommend that you contact the lender in advance and extend your repayment. This option is offered by many lenders and you can maintain a good credit history, if you extend your payment time.
If you miss the monthly payment deadline and have not agreed with the lender on repayment relief, your debt will most likely be transferred to debt collection. You will have to repay a larger amount, as you will also have to pay extra for debt collection services.
Conditions for obtaining a loan
Only adults can get a loan, which means you must be at least 18 years old to get the loan you need. As most young people between the ages of 18 and 19 are studying and do not have a permanent job and a regular income, the loan amounts offered for this age group can vary greatly. For young people aged 20 to 25 to 25+, the strict credit policy is being relaxed.
If you've had a late payment or an existing debt, that you did not repay in time, it's likely that you're on a list of debtors and have a bad credit history. This can also be a reason why getting a loan for you can be cumbersome.
I've changed my mind and I don't want a loan anymore, can I repay it?
Of course, we recommend checking the information provided in the contract from the beginning, but almost all lenders allow you to cancel the loan within 14 days, repaying the entire amount borrowed with calculated interest.