As a consequence of the globalized economic crisis, many people find it impossible to “stretch” the salary so that it reaches them at the end of the month, so that any …
As a consequence of the globalized economic crisis, many people find it impossible to “stretch” the salary so that it reaches them at the end of the month, so that any financial situation that comes their way can become a great headache.
Because of all this, many of these individuals have chosen to look for alternatives that can serve as a palliative to face those scenarios in which they do not have liquidity. And, one of these options are payday loans already.
With payday loans now
You can pay off the debts you accumulate, make reforms at your home, pay for your children’s college, buy a car or simply pay for the vacation you deserve so much.
Payday loans are already a contract whereby a financial entity gives an amount of money to a person, with the obligation to return it after a certain time. In addition, this person must also pay interest that was previously agreed upon.
Next, we will leave some information for you to learn all about payday loans and:
- They are called personal since many of these financial entities do not require the contribution of collateral, payroll, or assets as collateral. Instead, they do ask for a stable financial situation to ensure reimbursement.
- The applicant for payday loans must already be of legal age and have a mobile phone number, email and bank account.
- The amounts granted by entities for payday loans already vary from 100 dollars to 20,000 dollars. It is important to clarify
Already payday loans
An important part of the payday loans are the interests that the beneficiary contracts at the time of receiving the credit. One of them is the TIN interest.
The nominal interest rate (TIN) of payday loans is a percentage that does not vary throughout the life of the product. In a few cases, a variable rate is applied consisting of the sum of a differential plus the value of a reference index.
At this time, consumer loans have an average interest of between 7% and 9% TIN. In the same way, within the financial market you can get loans with rates from 5.95% TIN or below, as well as specific offers of financing at 0% TIN to buy certain items in installments, such as mobiles, furniture, among others .
Loans and phone
The technology of our phones allows us to do many things with the palm of our hand. One of the tasks we can perform from them is to ask for loans.
Through our smartphones we can request loans and phone without leaving our home and very quickly. Nowadays, few people go to the banks to ask for financing.
Everything is done through loans and by phone. To access them we need to meet a few requirements and conditions.
Money and loans
Among the documentation that is needed to ask for money and loans there are some that are regular in financial institutions. Here we will detail some of them.
- Valid identity document.
- Budget of the item you intend to buy with the borrowed money.
- Proof of income, such as the last income statement and last payrolls.
- Copy of the employment contract.
- List of assets at the time the loan is requested.
- Housing receipt or lease.
- Payment receipts.
- In addition, it is mandatory to be of legal age and legally reside in the country in which the lender operates.
Mini credits now
Mini credits are already a type of financing that is granted for a low amount of money. The main characteristic of mini credits is that their return is made in a short period of time, which is normally 30 days.
These mini credits are already designed to be granted in small amounts ranging between 50 and 300 dollars. When they are first requested, the maximum amount is 300 dollars. When the customer becomes a regular, the amount can reach up to 600 dollars or more.