Uncategorized Regular and Installment Loans

Regular and Installment Loans

When we suddenly need more money, for example to cover an unplanned repair of a flat after flooding or repairing a car in a breakdown, we can reach for a quick loan a payday that we often receive on the same day that we apply for it in a loan company. On the other hand, with the planned expenses, an installment loan, which is also offered by non-banking companies operating on the Polish financial market, may be a better solution. fleshes this out

The first loan

The first loan

With low financial needs for clients who have never used the offer of loan companies before, they have prepared a very attractive offer for the first, free cash loan. You can take it, among others in CashMan, without unnecessary formalities, although it will be necessary to fill out an electronic loan application and use a one-off transfer from electronic banking to verify the customer’s identity. If the identity is confirmed correctly and the client is not in the debtors’ databases, as in the databases of the Information Bureau, then the loan may be granted. Free online payday loans do not require a visit to a branch of a loan company, and their incurring and repayment can be completely free.

Such an offer is one-off, designed for new customers and usually very limited in amount. In CashMan, it will be a loan of up to PLN 1,500, which is enough for small expenses or patching a hole in the budget.

Another loan

Another loan

In loan companies, the rule is most often applied that the maximum loan threshold increases with the repayment of subsequent liabilities. It is also possible to incur not only ordinary cash loans, with a one-off repayment at the end of the loan period, along with the interest accrued by the lender, but also an installment loan.

In its shape, it resembles a cash loan from a bank or cooperative savings and credit union. This is financial assistance offered by non-banking institutions, eg CashMan for its regular customers. This may be an appropriate type of support for those customers who want to quickly take out a loan, but are sure that they will be able to return it in accordance with the installments agreed with the company.

An installment loan, in other words, obliges the borrower to regularly repay debt installments, in a fixed schedule and in a fixed amount. Ordinary payday loans on the other hand require the customer to repay the entire liability, along with any interest accrued at the agreed time.

The downside of the installment loan is interest accrued each month, but the division of the debt into installments makes it easier to pay the client money to the loan company than if he was to repay the loan on a one-off basis. Instantaneous pay-offs are provided to those customers at CashMan, who have already taken out loans and made themselves known as honest borrowers, paying their debts always on time.

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