When is a Small Payday Loan Worthwhile?
Small payday loans are credits with a volume between 1,000 and 5,000 euros. These loans are particularly easy to apply for online and even an immediate payment of the loan amount is in most cases easily possible. Who wants to take a small payday loan, finds the best deals on a credit comparison such as smava.de , where more than 20 banks present their loan offers. More of this story: awryt.com
What are Mini-Loans Used for?
These loans are not earmarked, unlike car loans or real estate loans . The low interest rates offer small payday loans flexible ways to overcome financial bottlenecks or to meet a greater desire, without the current account slips into the minuses. Many borrowers deliberately use a small payday loan rather than their savings when washing machine and dishwasher need to be replaced at the same time or the holiday trip exceeds the monthly budget.
There are even mini-loan offerings for which a negative interest rate is agreed. This means that the borrower pays back less than he has received from the bank. Those who have well-interest-bearing savings should leave them untouched and instead finance the expenses with a microcredit.
Why can a Small Payday Loan Protect Against Over-indebtedness?
Everyone knows situations in which to spend several months in a row above average spending to cope. After the car repair, the clothes dryer is on strike and on the very day on which the heating bill arrives, the son announces how much the school trip costs. In these cases it can happen that you have to use your credit despite solid housekeeping.
However, many bank customers are unaware that the overdraft facility is paying very high interest. In some cases even double-digit disbursements have to be paid, which increase the debt burden every month. It is much more economical to compensate for the temporary financial shortage with a microcredit. There is little interest cost on this loan, and the structured repayment plan makes it much easier for borrowers to pay off the mini loan than offsetting the checking account.
Apply for Small Payday Loans Online.
Until a few years ago, it was customary to apply for a loan at the house bank and after a detailed conversation with the credit advisor that many bank customers felt uncomfortable. The ability to obtain information on loan offers on a credit comparison portal has reduced the inhibition threshold to avail of loan financing. Another factor in the increased willingness to apply for a microcredit loan is the generally low interest rates and particularly low interest rates of the direct banks , which discontinue their bids online on the credit comparison.
The application for the mini-credit is not earmarked and is possible for both employees and civil servants as well as self-employed, freelancers, students, trainees and pensioners. Suffice a few details and the credit comparison determines the appropriate for personal situation loan offers. Once the borrower has chosen one of these offers, authentication takes place online and then the immediate payment. Bank customers can also use the credit comparison problem-free mobile and therefore apply unbureaucratically in a few minutes on the way the mini loan. In this way, it is possible to take advantage of temporary offers and to have flexible access to the loan at any time.