Online lenders for bad credit

Online loan for bad credit -Online lenders for bad credit: visit our website

Online lenders for bad credit: visit our website 

An online bad credit loan from content is one of the most popular financial products. You can receive the instant cash account on the same day, the decision to grant is made quickly, only a minimum of formalities is required. 

First of all, you need to be aware that not all loans are free. Many para banks, wanting to attract new customers, tempt with the promotion of the first payday loan for free. And in fact, nothing is paid for it if of course certain conditions are met. To apply for such a free loan you must be at least 18 years old and have an ID card. However, this is not all.

Only those who have not taken payday pay before can take advantage of this promotion. You must also remember to pay it back on time (usually 30 days) and once. Only then will such a loan be free of additional costs. However, para banks do not offer high amounts in this case. Usually, it is about 1000 USD. Each subsequent payday loan will already be charged with the commission and capital interest.

Free online loan – where to start?

Free online loan - where to start?

At the beginning, you should compare the offers of several para banks to choose the one that will be beneficial for us. It is worth to read the terms and conditions of the promotion of the first loan for free. You should check what amount you can get when it should be repaid and what costs will have to be incurred if we cannot pay the liability on time.

Once you have chosen a loan company, you can proceed to the formalities. You must prepare your ID card and personal account number to which funds will be transferred and complete the loan application. The form should usually contain the first name, last name, PESEL, series, and ID number, telephone number, email address, and home address. Some companies also ask about the type of employment or income certificate, but this usually applies to loans for higher amounts.

Online identity verification for a loan

Para bank can call us to verify our identity. The employee of the company must check whether the data provided on the form is true. A form of verification can also be a transfer. The transaction should be made from your own account to the number provided by the para bank. Usually, it is USD 0.01 or USD 1.00. In this way, the data provided in the application is also checked with those that appear in the transfer information.

If the verification is successful, then the company decides to grant a free loan online. Some para banks are still checking the KRD and BIK bases, although this is not a rule. If there are no contraindications, the company transfers the loan to our account. Earlier we get a decision by phone or email that the decision has been approved. The contract is usually sent electronically. Money appears on our account depending on the hours of booking. In some cases, you can count on additional funds the same day.


Double monthly loan

What is the double monthly loan

The double monthly loan is a type of loan that allows the beneficiary to have available, for each year of the contract duration, a sum of money corresponding to an average double net monthly payment. Consequently, a real doubling of the financeable amount is obtained. If you apply for a 12 month double monthly loan, you get two months instead of one. If, on the other hand, you opt for the 24-month version, the loan provides for the payment of four months. This solution is accessible only if the applicant does not have any other kind of deduction in progress on his pension or salary.

At the same time, the amount disbursed is calculated according to what the institution’s balance sheet availabilities are based on the forecasts for each calendar year. In fact, it must be borne in mind that the double monthly loan is a form of access to credit reserved for loans granted by the Social Security Ex Government Agency, that is, the so-called small Government Agency loan. Consequently, it is reserved for public sector pensioners and civil servants who have registered with the Credit Fund (the Unitary Management of credit and social benefits).

Apply for a double monthly loan

Apply for a double monthly loan

The dual monthly loan allows users who do not have other ongoing credit reports to request small amounts of money. This is a solution that allows you to obtain a greater utility to face an unexpected expense, both as regards an unavoidable purchase and for a non-postponable deadline. To access this form of financing, taxpayers who are Government Agency employees must submit an application by filling in all its parts and signing the specific form provided by the reference body. The form must be subsequently delivered to the Government Agency. Instead, retirees can take advantage of the online mode. In both cases, users do not have to provide proof of expenditure to certify what the intended use of the money will be.

What are the interests and the methods of repayment

What are the interests and the methods of repayment

Due to the fact that it is a subsidized financing solution for civil servants and pensioners of the public administration, a rather convenient interest rate is applied. In fact it is a fixed rate loan that uses three rates equal to:

  • 0.50% for administrative expenses;
  • 4.25% for the TAN (Annual Nominal Interest Rate;
  • a variable rate for the quantification of the Risk Fund Award. The rate is calculated using the applicant’s age and the loan term as variables.

Once all three rates are obtained it becomes possible to determine the APR, the Annual Global Effective Rate. The amount payable varies according to the applicant’s length of service, his age, his financial conditions, the size of the pension or his monthly salary. The timing of disbursement of the double monthly loan is a maximum of 60 days from the date of receipt of the application by Social Security. By accessing your own Reserved Area on the institution’s website, you can check the status of the case. Average times are around 15 days. The amortization plan is variable according to the request presented by the user and the installments are calculated in order to include the share of the capital and the interest share. However, it must be kept in mind that the reimbursement takes place through the transfer of the fifth: consequently the amount of the installment cannot exceed one fifth of the pension or monthly salary.