Holidays came and with them the beautiful weather and the desire to go to the unknown. What if we recently had to break down the car and a large part of our holiday savings, and we still had to spend a good part of the month paying the salary? Then non-bank companies offering quick payday loans come to the rescue .

Payday loans and installment loans

Money from non-bank companies can be borrowed for short and long periods. The institutions offer payday loans with repayment up to 30 days and loans with repayment in installments for a period of several months to even 60 months. The amount is not insignificant. If we only need a few hundred dollars to fulfill our dreams of a holiday trip, and soon expect an injection of cash, e.g. in the form of a bonus or holiday under the pear tree – then a great solution would be to take payday loans with a short repayment deadline. However, if you dream of the hot sand of the beaches of Tunisia and the warm azure sea, then a larger loan comes into play, whose repayment date will be spread over installments over a longer period.

There is a widespread belief that such a loan is expensive business. Nothing could be more wrong, the large competition on the financial market means that at present such loans can be taken on preferential terms, and companies are outdoing one another in promotions and given bonuses. You can count on no commission or a lower interest rate. The range of proposals is huge. You can find a cheap loan, where the APRC interest rate is similar to the interest on a bank loan, and if you look carefully, you will find institutions that offer the first loan to the borrower completely free of charge.

Minimal formalities

Nobody likes to spend long hours in banks, sign a stack of documents, or run to the staff of your company for a statement of earnings. This is no longer needed. Often, you only need an ID card to quickly and efficiently settle all formalities and enjoy the extra cash on the same day. In addition, payday loans from non-bank institutions can be taken without leaving home. Formalities can be completed online by filling out the appropriate form.

Payday loans

The easiest way to get a payday loan is because we borrow a small amount and all ID documents are needed to complete all formalities. This form of additional cash can also be counted on by people with a negative credit history, because in this type of obligations the borrower is not checked in BIK. Lack of creditworthiness is also not a problem here. The formalities involve signing the contract by presenting your ID card. The cash is paid “in hand” or to the bank account provided by the borrower. The repayment deadline is usually 30 days.

Installment loans

More formalities should be taken into account when taking out an installment loan, especially the long-term one. Here, the lender may also require, in addition to the identity card, a certificate of the amount of remuneration and the date of employment. An undoubted advantage is the fact that we can borrow up to 25,000 USD for a period of up to 60 months. Currently, there are several dozen very favorable offers on the market, all you have to do is enter the appropriate phrase in the search engine and you already have access to the full database of loans, calculators and loan rankings .