Uncategorized

Where are the Best Payday Loans?

Compared to the previous year, the number of clients seeking payday loans increased by approximately one fifth. We looked at what could cause the borrowing rate to increase and we also show which credit institution offers the cheapest payday loan.

As a result of the ongoing decline in the central bank base rate, interest rates on loans also declined, and this process had an incentive effect on borrowing. Looking at changes over the past year, we can see that the MNB base rate has fallen from 3.60% to 2.10% since October 1 last year. This change has also been followed by credit institutions, allowing customers to obtain a payday loan at a cheaper rate than a year ago. Wisemoney had the largest interest rate cut, with a 4.65% decline in payday loan interest rates, but also a significant 4% decrease at CIB.

However, with lower interest rates, you should carefully consider whether it really is so important to borrow money that you might have to pay back the price of a super LED TV, a dream trip, or a grand wedding for years. If we look at the monthly repayment for one million forints, we see that for a two-year maturity, we have to pay in monthly installments around 50 thousand forints. And if you want a lower monthly repayment, you can get it with a longer maturity, but with a maturity of five years, for example, the amount you repay is about one and a half times the amount of the loan taken.

Do I need what to do?

Do I need what to do?

If you have decided that you need a payday loan, you may want to look at our calculator to see where the best interest rates are right now. The most favorable payday loan at present is the Richmen loan , which is available from HUF 800,000 to a maximum of HUF 2 million. If you take one million HUF for five years, the interest is 16.66%, the monthly repayment is 24669 HUF, and the repayable amount is a total of 1,480,125 HUF. back pay. To apply for a low-cost loan, your monthly income must be at least $ 50,000. It is important to know that Cofidis credit can only be applied for over the internet or over the phone, as they do not have an account network.

If you do not have internet access or would prefer to arrange a loan in person at a bank branch, look at the bank offerings. At CIB, a payday loan of one million forints with a maturity of five years can be obtained with an interest rate of 17.99%, provided that we obtain an A rating. Applying for CIB is $ 85,000 a month in net income, but it’s important to know that up to ten times our monthly income can be claimed as a loan. At most banks, we find different offers according to the customer rating; if we have a higher verifiable income, we are considered to be a better quality customer, so we can get a better interest rate on the loan.

What else can I choose?

What else can I choose?

Let’s see some more interesting things about banks payday loan offers. Wisemoney Bank also applies the rule that up to 10 times the monthly net income can be claimed as a payday loan. Wisemoney guarantees that the loan will be disbursed within 1 hour of the conclusion of the contract. If the commitment is not fulfilled, the bank will issue a gift voucher of HUF 10,000.

To apply for a payday loan, Switchbank requires a monthly net income of HUF 125,000, which can be used to raise one million forints for five years at a rate of 16.99%. We also have the option to raise more than HUF 3 million, but in this case we need at least 300 thousand income, and only such special loans can be taken out with such special loan conditions.

At Raizen Bank, you can get a 1% interest discount on payday loan products by accepting activity terms. However, if we do not meet these conditions, that is, we will not receive at least the minimum wage in our bank account and at least four transactions in our account will not be completed, then a monthly fee of HUF 500-500 will be charged, depending on the loan amount. If you need a lower credit of between $ 2-600,000, Raizen can receive your Quick Charge within 48 hours if all required documents are properly submitted.

 

Offer payday loans specifically for home renovation

Offer personal loans specifically for home renovation

These special purpose loan products can be obtained on better terms than payday loans that can be used for any purpose, but as a condition of the reduced interest rate, we must prove by bills that the loan amount has been used for home improvement.

Sherman Obando

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top