It often happens that you need fast and uncomplicated money, but often are not in stock. If there is a shortage of funds for the purchase of a car or the payment of a short-term holiday, the instant loan is an adequate solution. This installment loan is repaid monthly in mostly equal amounts and eliminates long waiting times. Just one day after the online application, the preliminary decision has been made as to whether a loan agreement will be sent to the borrower. After that, it takes only a few days until the amount is transferred, which can be between 500 euros and 7 5000 euros. The duration can be set according to the personal wishes between 12 and 84 months.
The monthly installments serve to repay the borrowed amount and include all costs incurred. The amount of the interest rate depends on the duration of the term. The longer the term is chosen, the higher the accrued interest. But the monthly installments are lower for a long term, which makes the total cost more expensive.
The term can be reduced by prepayments. This does not change the amount of the fixed monthly installment amount.
The total annual cost of the loan includes the administration and administration fees, the interest component and the annual percentage rate of charge.
After three months, the loan agreement can be terminated at the earliest, if the borrower can and wants to repay the amount prematurely. There is also a notice period of three months. The processing fee remains in this case with the bank.
The borrower must meet three criteria:
- He must be at least eighteen years old.
- He must be in a permanent employment relationship.
- The Schufa query must be positive.
If the borrower decides to apply for installment loans via https://greendayonline.com/installment-loans/, he can look forward to many advantages. Since processing by the electronic way for the bank time-consuming and bureaucratic effort partly fails, this is reflected in the positive cost. Incidentally, it is easier to compare the terms and conditions of the various bidding banks from home. In addition, the online application is not bound to opening hours or free appointments and the collection of information is stress-free and relaxed since the way to the branch banks or savings banks can be avoided.
If you want to apply for the instant loan for a house you should check the quality of the house beforehand. This gives you a quick overview of the quality.