Lots of private equity companies, usually banks, offer their services by tempting them to be free. One hears a lot that when applying for a payday loan in the amount of USD 1,000 after a month, and he pays the same amount. So where’s the catch? Are there actually free loans?
Free loans, or what?
The first loan for free is a frequent promotion of parabanks. These institutions want to encourage customers to take advantage of their offer. First of all, they are popular payday loans. Therefore, one should take into account that the amounts of such loans will not be high. It is worth checking the comparison of payday loans to see where you can get the maximum free payday payday loan. As a rule, they are about 1000 – 2000 USD depending on the parabank. However, it should be remembered that the debt should usually be settled up to 30 days and once, then it will be a loan for free. Otherwise, the customer will be charged with high costs for non-repayment on time, and often for payment reminders.
Who can take advantage of the free loan?
Virtually every adult. Parabanks do not have high requirements for people who apply for such a loan. It is usually sufficient to provide a document confirming your identity, it can be an ID card, less often a passport. However, to make the payday loan free, you should use it for the first time. So you can say that this is a promotion for new parabank customers. When deciding on such a loan for the first time, you can actually take, for example, USD 1,000 and after a certain time repay the debt in the same amount, without incurring additional costs. However, when we once again apply for a loan at this parabank, you will have to take into account the commission, capital interest and other costs.
Where to look for loans for free?
Many parabanks have such a promotion in their offer. So it’s worth browsing their websites or reaching for payday loans rankings for free. Thanks to this, we will quickly be able to find a company that will grant us a loan without additional costs, if of course we pay it back on time.
How to apply for a free payday pay?
There are several possibilities. You can take free loans online without any certification. In many cases, it is sufficient to provide the personal ID details in the application for a payday loan. A scan of this document may be required. Usually, parabanks do not need other certificates. They verify a potential customer quickly, they don’t usually check KRD or BIK. For this reason, the chances of getting such loans online are enormous.
You can also get a free payday loan in a stationary parabank branch. All you need to do is find a company that offers free loans, fill out an application, present your ID and after a decision to grant payday loans will be made. Some parabanks even offer loans on the phone, then applying for such a product is done almost entirely by phone.