If the personal payday loan is one of the most requested credits for small and medium projects, it is because the rates offered are often in agreement with current conditions and that its use is practical and facilitated.
Partner credit organizations make personal payday loan simulators available to everyone, which allows you to know immediately if the project is feasible but also to be informed of the loan conditions, with the receipt of a loan estimate banking. Note that personal payday loans can also be requested from lending platforms between individuals, see below.
Personal payday loan: how to get the best rate?
Getting the best rate is ideal in a search for personal payday loan deals and comparators like this can increase your chances of negotiating the best credit rate. Banks and credit organizations apply more or less aggressive commercial policies, some of which offer the lowest rates, but these policies can be envisaged in the short term as in the long term.
This translates into ad hoc commercial operations on the part of lending organizations but these trends are constantly evolving, an organization offering the best rate today will probably not be tomorrow anymore, so it is necessary to constantly probe establishments on the market. and use online comparators to find the best credit rate.
Personal payday loan without proof
The personal payday loan is unrestricted consumer credit, this means that personal credit offers can be granted without proof of use. We can, therefore, apply for this funding as part of a car purchase, vacation or leisure funding or to carry out work.
Who says “without proof” does not mean acceptance of the file without providing any document, it is still necessary to provide basic documents such as ID, payslips, account statements or proof of address. Obtaining this type of loan still requires ensuring that you have the financial capacity to repay it and it should be remembered that it is recommended not to exceed a debt ratio of 33%.
A personal payday loan between individuals
It is not necessarily necessary to borrow from banks to obtain consumer credit, it is possible to apply for a personal payday loan between individuals. Some platforms specialize in this type of financing, which consists of linking lenders and borrowers, which guarantees both a secure loan offer and no false steps.
The platform provides the borrower with a simulator and a service allowing him to complete his file, the latter receives remuneration and the interest is for its part intended for the lender, often individuals or investors wishing to make funds available applicants.
How to get a cheap personal payday loan?
To identify the cost of a personal payday loan, the total cost of the loan must be measured. This means that a low rate does not mean that the credit will be the cheapest, it is possible to benefit from cheaper credit with a higher rate, simply because several elements are taken into account in the cost of a loan:
- The rate (APR)
- Application fees
- Brokerage fees (if using a broker)
- The insurance rate
It is therefore important to analyze the 4 points above because a low rate can hide a high insurance rate, in the context of borrower insurance. If some offer the fees, you must take care to read the general conditions of sale proposed by the organization to check if fees will be applied.