Hello, dear readers of the online magazine “HeatherBober”! Connected Pavel Shevelev.
We are continuing a series of articles on loans and today we will try to figure out what express loans are.
My experience in a microfinance company allows you to answer this question in sufficient detail.
If you urgently need money or you plan to take loans in the future, then this article is for you!
1. What is a loan express?
Sometimes there is a situation when a certain amount of money is needed urgently and there is no time to wait for approval of the application at the bank. Relatives and friends also can not give a loan. In such cases, you will be rescued by an express loan.
You may have heard about this form of financial assistance.
Express loan - This is fast money, which can be received within half an hour after the application is made.
To obtain such a loan, you do not have to collect a large package of documents. The borrower can use the funds at his own discretion, since the express loan is not a target loan.
In this case, the involvement of guarantors or the provision of collateral in most cases are not required.
Other benefits of instant loans:
- the repayment period may vary from several days to one year and even more (depending on the conditions put forward by the creditor company).
- most often at the first circulation the amount is limited to 5 000 - 7 000 rubles.
- The application for a quick loan is processed in just a few minutes.
- If necessary, you can apply for an increase in the maturity date.
- The borrower is given the opportunity to repay the loan in various ways - by multiple installments or a one-time payment.
- when receiving money, there is no need to visit the office - funds can be transferred to a card or an electronic wallet.
2. On what conditions are loans to payday?
The interest rate is determined by various financial companies individually. Usually this figure is 1-3% per day. However, if you are not applying to the same credit institution for the first time, you can count on a reduction in the interest rate.
You applied to a microfinance company and issued a loan at 2.4% per day. Within the specified time, you successfully returned the entire amount, but literally in 2 months you again needed the help of the ICE.
In order not to waste time searching for other companies, you decided to go there again. At the approval stage, the manager contacted you and said that now you can get an urgent loan at 2% as a bona fide borrower.
By the same principle, the size of the instant loan is prepared, which the financial company is ready to provide.
If during the first circulation the maximum amount rarely exceeds 7,000 rubles, then with repeated cooperation you can easily get up to 20,000-30,000 rubles.
3. How to make an instant loan - step by step instructions for beginners
You can get the necessary amount of money in just a few minutes if you do everything right. Below is a step-by-step instruction on how to apply for an express loan.
Step 1. Choose a company
Banks are more meticulous in assessing their future customers, so more time will be required for consideration of the application. However, if approved, you can get an express loan on the most favorable terms.
Microfinance companies are more loyal in making a final decision. In this case, you will receive an answer in just 5 minutes and in 90% of cases it will be positive.
Be prepared for high interest rates, which are a kind of protective mechanism to reduce the risks of working with unreliable customers.
Step 2. Choose the terms of lending
If the company offers you cooperation in various programs, then choose the most favorable conditions for yourself. Pay attention to the size of the rate and the term of the loan.
Be sure to check out what sanctions will apply to you if you are unable to make another payment on time.
Step 3. We make an online application
Having decided on the company and the crediting program, you can start processing the application online. To do this, go to the official website of the creditor company and fill out the appropriate form.
The form of the questionnaire will appear after you click on the button "Make a loan express" or "Get a loan."
The application should include detailed information about yourself. Do not make mistakes when filling in your passport data, as this may lead to the fact that you will receive a refusal.
In addition to providing personal information, it may be necessary to specify data on the size of the loan and the terms in which you are ready to fully repay the debt.
All these points will be taken into account by credit managers when approving the application.
Step 4. Waiting for an answer
To study the sent application will take from 5 to 7 minutes. For such a short period of time, employees of the company will not be able to check the credit history, so the experience of past cooperation with banks will not be taken into account.
The results of the consideration of the application you can find out by phone or online. In some cases, the answer comes to the e-mail of the borrower.
Step 5. We receive money
If approved, you can get a quick loan in 20 minutes. If you have chosen a bank card or an electronic wallet from various methods of receipt, then you will not even have to go beyond the threshold of your apartment to receive funds.
However, you will first have to register with one of the payment systems Yandex.Money, Webmoney, Qiwi. On our site there is a separate article devoted to a loan for Qiwi Wallet.
If you choose to receive money in cash, then you should go to the nearest branch and collect the full amount there.
4. How to repay an express loan - 5 ways to close a credit account
There are many different ways to repay a loan. You choose the one that fits best.
Various options for repayment of express loan:
- With a bank card. Payment can be made from the card of any bank. The only prerequisite is to be registered in the Internet banking system. All actions are performed online, which is very convenient, since there is no need to leave your own home. Read more about the loan card in one of the previous articles.
- Post transfer. A less rational way, which still has the right to exist. Of the disadvantages of this option, it should be noted a long delivery period, which can reach 10 days, as well as an additional commission of 1-3%.
- When using an electronic wallet. Very convenient option. You must first register with any electronic payment system. It may take some time to check personal data and activate the wallet, which is not very convenient. On our site there is a separate article on the topic of a loan online.
- Through self-service terminals. Such terminals can be easily found in almost all public places - shops, supermarkets, subways. To make a payment, it is enough to enter the details of the creditor company and deposit the required amount. Be careful, as when carrying out this operation a commission is charged to the payer!
- Cash in the office of the company. From the point of view of economy, this method is the most rational, since during the payment you will not be charged any commission. In addition, you can personally verify that the money reached the addressee. The only drawback can be a waste of time, which is caused by visiting the nearest branch of the company.
5. The best express loans - an overview of the TOP-5 companies providing credit services
Among financial companies that offer express loans there are not only MCOs, but also ordinary banks. In more detail with the most advantageous offers you can find below.
1) Tinkoff Bank
Tinkoff Bank - quick and easy credit card processing. Fill out the form in 5 minutes and get a card worth up to 300,000 rubles. The interest rate on such a loan is 19.9% per annum, but the first 55 days you use the card without a fee. Just pay for purchases and withdraw cash - the percentage in the first 55 days from the moment of the loan is not charged.
Up to 30% of the cost of purchases is returned to the card in the form of points. Tinkoff Platinum Card - issued on the site for free. The decision is taken by bank employees in a few minutes. The bank will deliver the card to your home or office.
Let me remind you that Tinkoff is the first bank in the Russian Federation that completely abandoned offices and branches. All operations are carried out by phone or computer. This means you do not need to stand in lines and go somewhere. You solve your financial issues where it is convenient for you.
Moneyman - quick loan processing of up to 70,000 rubles. This is the first microfinance company in Russia, operating entirely through the Internet. You just make out an application on the company's website and in a couple of minutes you get approval from the employees. Then the money is transferred to your card or to the current account in the bank. Cash withdrawal option available.
The first loan is 10,000 rubles. With timely repayment, larger amounts are available. There are several options for loans - Start, Takeoff, Pilotage, Turbo and Superturbo. Maturity dates are from 5 days to 18 weeks. Documents at registration - passport. No questions about the purpose of the loan. I myself once used the services of this company. I ordered a loan, after 20 minutes I already had the right amount on Mastercard account.
3) Alfa Bank
Alfa-Bank was founded in 1990. Included among the leaders of the financial market of Russia. It offers to issue a credit card for a year with a grace period of 60 days. Two months you do not pay a commission, making purchases on the card and withdrawing cash. The limit is 300,000 rubles.
Get a card issuance decision on the bank’s website. Fill out an application, and within 2 minutes the company manager will contact you. In most cases - the decision is positive. Traditional consumer loans are also available - registration in bank branches. The amount - up to 2,000,000 rubles.
Kredito24 - loans to individuals up to 30 000 rubles. The maximum repayment term is 30 days. Loan is made in 2 clicks. The applicant fills out an application on the site, waiting for a decision, receives a transfer to the card.
All you need to get - phone, scan passport and bank card. Verification of documents does not take more than 15 minutes. No hidden fees, unnecessary questions about the objectives of the loan and credit history, collateral, certificates and guarantors. All transactions are protected by a security system.
Payment of debt - through a private office, bank transfer, electronic payment systems.
5) VTB Bank of Moscow
VTB Bank of Moscow - loans and credit cards for any purpose. Consumer loans in cash up to 3 million rubles for up to 5 years. Credit Card "Low tariff" - a card for all occasions for the active and prudent. The first 50 days - 0% commission. Cashback (refund for card transactions) - 5%.
How to get? Choose a type of card, fill out a user profile (contact details, desired limit), receive a response from the bank within 15 minutes. If the decision is positive, come to the bank with the documents and get a card.
Day visibility, I made a comparative table of various credit institutions:
|№||Company||Amount (rubles)||Rate||Features of the procedure for obtaining and receiving a loan|
|1||Up to 300,000 per card||19.9 per annum||Making a card via the Internet in 5 minutes, card delivery is free|
|2||Up to 70,000||1.85 per day||First loan - 10 000, with a successful repayment the amount increases|
|3||Up to 300,000 when making a card||The rate on the card - from 23.99 cash loan - 14.9 per year||Preliminary decision - on the company's website|
|4||Up to 30,000||1.9 per day||Registration - on the company's website, receipt - on the user's card|
|5||Up to 350,000 by credit card||24.9 per annum||The decision is made online, the receipt - in the bank|
6. Useful tips on the design of express loans
The decision to apply for a loan express must be weighed. Think a few times before putting your signature on a cooperation agreement.
If you overestimate your financial capabilities, this can lead to great difficulties. Below are a number of helpful tips on applying for express loans.
Council number 1. Make out an express loan only in case of emergency
Fabulous interest rates are the main reason you have to think a few times before signing a contract.
For example, if a loan is granted at a daily rate of 2%, then within a month you will have to pay 60% of the total loan amount.
Loan express is suitable only if you want to invest these funds in any business and after a while the money will return with interest. In another scenario, it is better to ask for help from friends and acquaintances.
Council number 2. Choose a reliable creditor company
Attractive interest rates are not a reason to agree to cooperate with a credit company. If the conditions of one firm are very different from other offers on the market, then this should alert you.
Pay attention to how long the company provides its services. Visit various thematic forums to get real customer reviews.
Council number 3. Think about repayment in advance
If you decide to take a loan, then please kindly fulfill all the conditions of the contract. Even before you have signed up, consider how you will return the full amount, taking into account the accumulated interest.
If you are not confident in your abilities, then it is better to refuse such cooperation. Otherwise, you will only aggravate your financial situation.
Council number 4. Carefully read the terms of the contract
Pay special attention to those clauses of the contract that are written in small print. Everything stated in this document is legally binding.
Also pay attention to those points that describe the mechanism for calculating penalties in case of violation of the payment schedule. Ask the company's employees - what sanctions may be applicable to you in case of non-compliance with the terms of the contract.
Council number 5. Calculate the cost of the loan in advance
With the help of a standard calculator, calculate how much it will cost you to use the funds of a financial company. You can also use a special loan calculator for these purposes, which you can easily find on the website of any company providing loans.
Soberly assess your capabilities and only if you are confident in your abilities, you can apply.
Council number 6. Do not be greedy
You should not agree to tempting offers from little-known companies that can provide you with a large amount at low interest rates.
Remember that the more you take, the more you have to return. Take as much as you need!
So let's summarize! What have we learned from today's article? Firstly, that an express loan is a very convenient financial instrument that allows you to resolve temporary difficulties with money. And secondly, that such a loan should be chosen as carefully as possible.
In conclusion, I would like to show you a video that describes all the features of an express loan and how you can get it from banks and MFIs.
Friends, I hope you enjoyed my article.
Leave your comments below and don't forget to rate the material!