Quick credit, immediate money, express loan – these are just some of the terms “Good Finance.” Incurring this type of financial commitment is used more and more often by us. We decide on payday loans, giving up cash loans from banks. This type of loan is unfortunately the only way out when we need a shot of cash really quickly, without multiplying the formalities.
It is obvious that in order to make any financial commitment, one must be of age. In order for a potential customer to take out a cash loan in a bank, a mass of documents is also required to prove his creditworthiness. In addition, its credit history as well as fines and other financial obligations are checked at the Credit Information Bureau (BIK). If we have one, they affect the final decision of the bank in which we submit the loan application. In addition, a document (eg a certificate from the employer) certifying our income must be provided to ensure repayment of any liability. It is not uncommon for a larger loan amount to be involved, it is also necessary for the spouse to agree to take out a loan. The family situation of any borrower may also be relevant. A lot of documents and details are analyzed. Despite this,
The matter with the express loan is a bit different. Companies providing payday loans do not require proper formalities, except for those over 18 years old. Currently, the only conditions that must be met when applying for an express loan are: having a bank account (so that the transfer has somewhere to come) and submitting the appropriate application. Increasingly, you do not even have to leave the house and through the formalities you can go through the Internet, and have money in your account in a few minutes. There is practically no chance that such a loan would not be granted to us, because we are often not required to prove our income or our credit history is not checked.
Good Finance – what else is worth knowing
When thinking about taking express loans, remember about their repayment terms and other important aspects. The most important for us as borrowers is the total cost we will incur when paying back payday loans. Fast cash, unfortunately, is often associated with a rather high interest rate, which is often camouflaged by the frequency of repayment of such an obligation. Often, we have to pay back such a loan not once a month, as is the case with a cash loan from the bank, but once a week. The amounts of such repayments seem low, and in reality they are four times higher. After all, a month has four weeks, only in a month this payday will be charged to our home budget four times more often.
Important aspect of express loans
The amount of liability is another important aspect of express loans. Such a commitment is indeed quick, but unfortunately it will not be too high. If we need to borrow a larger sum of money, we must rely on a cash loan from the bank. There is also no doubt that a bank providing a cash loan is a more reliable institution than a company providing express loans. The final decision as to the choice of such and no other offer belongs only to us. The key to everything should be common sense and awareness when choosing the most appropriate offer.