Mini payday loans or loans of small sums of money have been their flagship product since the very beginning of non-banking companies. Despite the fact that over time offers have evolved considerably and the sums that can be borrowed have increased, payday loans are still the most popular among borrowers. http://www.vivrele.net/payday-loan-settlement-choosing-the-right-vehicle-leasing-deal/ has more information
Instant payment up to USD 500 – safely, on favorable terms
The annual research on the payday market confirms that Poles eagerly borrow small amounts from non-bank institutions. Among the offers often used by consumers is e.g. payday pay up to USD 500. It’s basically an unflagging trend. Its maintenance is caused by several factors.
First, in the last few years, consumer confidence in non-bank institutions has increased significantly. Many myths about this market have been challenged. Certainly it was supported by new legal regulations – even the so-called anti-usury act or registration of loan companies in the database kept by the Polish Financial Supervision Authority. All consumers have access to this register. Thanks to it, it can confirm the credibility of a given institution.
The second issue is the natural increase in competition on the market. And this certainly influenced the fact that loan companies care about their clients. They prepare offers on very favorable, transparent conditions. These are often of a marketing nature, i.e. their purpose is to popularize a specific offer or company. The consumer, who did not incur any costs in connection with the loan, is certainly satisfied. Thus, the chances of his return and taking advantage of the offer of this particular company significantly increase.
Free online loan
The third thing is related to the fact that little money can be borrowed without a commission. The loan amount is the amount we pay back. So why apply for money elsewhere – at your neighbors, friends, family, or even at the bank – if you can easily and quickly get it at a non-bank company? This can be called another dimension of borrowing, where payday loans have replaced these more traditional sources of obtaining cash.
The fourth, though certainly not the last issue, but one of the most important, is the development of modern technologies. The fin-tech industry is booming, which means that consumers have almost unlimited access to the money they lack at the moment. Immediate satisfaction of the needs is a very distinctive general marketing trend. The modern non-bank market certainly meets this need.
The loan for free patches home budgets
Mini payday loans, as the name suggests, do not exceed the amount of several hundred zlotys. This money is usually used by borrowers for basic necessities. And usually these are small but unexpected expenses for which there is no money in the home budget. And since it is a loan for free, no additional costs are charged to your pocket next month. These payday loans also allow for faster implementation of plans that were previously postponed due to lack of cash.
Loan without certificates
Payday loans for low amounts are the leaders among the offers available also because they are not burdened with formalities and the need to submit specific certificates. This definitely speeds up the process of obtaining them. It also means that virtually anyone can apply for them.
The amount not higher than USD 500 is not treated as a loan that must be secured in a special way. Borrowing small funds does not entail such financial risk as borrowing a few or several dozen thousand zlotys. Therefore, entities providing payday loans for low amounts do not require certificates that would confirm the amount of earnings or source of income. It is usually enough to simply confirm the identity of the borrower by presenting his / her ID card and providing other necessary data.
Instantaneous pay without GFI
The vast majority of non-bank entities, offering payday loans up to USD 500, will also not take into account the borrower’s possible debt. Of course, checking the Registry of the Credit Information Bureau is a must, but the information contained therein does not have to affect the granting of funds. It is therefore a loan for those in debt who need extra, small cash. The percentage of granting these non-bank loans is very high. Therefore, even if there are arrears in the GFI register, the probability of granting payday loans up to USD 500 is very high.
It would seem that everyone is able to pay off small debts once. However, this is not so obvious. One-time repayment of borrowed funds, even those up to USD 500, can be a significant burden on the budget. Therefore, even mini payday loans can be divided into installments that are easy to pay. It can be, for example, a loan for 3 months. But many companies also offer longer credit periods – up to half a year. They are rarely cost-free payday loans, but the final amount to be refunded is not that high. It is worth following the list of loan companies’ offers and choosing the one with the most favorable financial terms.
Where to borrow USD 500? Online payday service
Online payday loan is certainly one of the best offers on the market. For people who move freely online, it’s the fastest and secure way to borrow money. Since we usually don’t need anything except proof and an electronic bank account, the process is very smooth. In many cases, this will be in line with the declarations and we will actually receive a bank transfer to the account within 15 minutes.
If the online payday loan is the first we have applied for, it is worth getting some reliable information on this topic early. Industry portals will be a good source here. We should be particularly interested in the ranking of loan companies’ offers. This combination helps to analyze the conditions and costs of granting payday pay to finally choose the best one.