How to choose a payday credit online?
Many private equity companies offer the first online payday credit without interest or additional payments, this means that the customer will only pay the amount that has been granted. But, if a new payday-loan is subsequently requested , which will be granted if the debt has been paid, interest will be charged. Before choosing the payday credit it is necessary to compare between several lender companies to decide which of them offers better conditions.
Before deciding on a company with private or other capital, it is necessary to make sure of its conditions and when the requested money will be received. It will be taken into account, in the case of needing the money the same day, that the lender works with the same bank in which the money will be received, in this way, it can be enjoyed in less than 20 minutes . Otherwise, the money may take between 24 and 48 hours to be available in the customer’s account.
The return period should also be considered and if it is possible to return the money ahead of time. Generally, in the private equity companies, interest is paid daily; for that reason, the sooner the payday-credit is returned, the less interest will be paid. The amount of money that can be requested will vary depending on the monthly income of the applicant and their fixed expenses. Many lenders do not require that the income their client receives comes from a payroll, but that they are enough to cover the payment of the debt once they have met the expenses that they have each month, such as the payment of the rent. or mortgage plus the money necessary to cover the daily expenses.
To calculate and compare the interest that is going to be paid, it is necessary to know the APR that is going to be applied to the payday credit. The average is 20%, the lower the APR, the less interest will be paid. It is important to know how much money is needed accurately and not request more than that amount, because the more money is asked, the more interest will be paid for it.
Requirements to apply for a payday credit online
Each lender company has its own requirements to apply for a payday credit online, but, in general, those who will request are the following:
- Be of age. For some private equity companies, the financial age of majority is considered at 21 years old, others have payday credits and specific credits for 18 year olds.
- Have monthly income . Many private equity companies do not put as a condition that these revenues come from a payroll, others do. In any case, the amount of money borrowed in a payday credit online will depend on the income of the applicant and the confidence that the lender company has in their client. If it is a new client, usually the amount borrowed will not be very high; later, and if the client returns the payday credit without incidents, the company will put at his disposal higher amounts of money.
- Reside in Spain permanently . This will be demonstrated by providing a copy of the DNI or NIE.
- Be the holder of a bank account of a bank located in Spanish territory . If you want to receive the money from the online payday credit, it is necessary to find out if the lender works with the same bank in which the account is held. In general, private equity companies work with several banks. Before applying for the online payday credit, it is possible to find out about their conditions and the banking institutions with which they work.
It is also important, in the case of requesting money on weekends or holidays, to be informed of their schedules and if it is going to be possible to receive the money immediately, since not working during those days, the money will take between 24 and 48 hours to be available in the customer’s account.
- Be responsible. Payday online credits were created to be used responsibly, not as a usual financing method. Private equity companies encourage this responsibility and can deny payday credits to clients who request them on a recurring basis.