I help you find easy and fast interest-free loans!
Receive interest-free loans – who, where, how? Getting interest-free loans works – assuming you know how to get them! How you can find interest-free loans and what you should pay attention to if you want to borrow money, I stick to this post.
I was in a complicated financial situation. And I desperately needed money. My house bank responded to my request for credit only after 8 days. During this time I had already had another better solution. Read my case here how I could lend money online immediately.
If you currently have a short-term financial bottleneck then read my contribution to the end. I recorded here how I got a loan in no time without my house bank. I hope to help you too!
In an increasingly hectic world, two phenomena can be observed in the financial sector. On the one hand, the rich get richer, on the other hand, the bandwidth of the middle class is getting narrower. What does this have to do with a loan?
It means that the members of the so-called middle class have more and more often to struggle with financial problems or money problems and thus more often (and also short-term) loans have to take – instant loans are very popular and loans in rush times are in demand as never before!
Many people are also looking for interest-free loans. Who does not know that? Is it better to buy a TV in Bar? Or does it make more sense to take the money in the short term when it is actually forgiven without interest?
In the everyday financial carousel, the classic banks are still the top dog loans. But in certain segments, they have long had tough – and extremely successful – competition. This is especially true for the credit system.
Traditional banks have cumbersome structures that are hindering credit and lending business. Speed, flexibility and simple procedures are more in demand today than ever before.
Especially when it comes to purchasing, it is also about the fact that certain dealers want to sell your products inexorably. And even offering additional interest-free loans is downright a bomb business. Of course, for the providers of interest-free loans.
But why is that? What is behind it? How can anyone just make money from it? Basically, there are credit cards that are awarded despite credit bureau.
Tip: You should know your own credit rating. Read more about how you can apply for a free credit bureau self-assessment in just 3 minutes.
Let me explain briefly how this works. On the basis of a simple example. Let’s assume your TV is broken. What to do? In the next electronics market and it starts with the search for a new TV device.
So either you pay a huge amount in cash, or you postpone that and pay in smaller installments over a longer period of time this device. Of course, you can also repay your loan at any time if you want and make it a short-term loan.
What is better? In general, it is really good if you get interest-free loans. What better does not exist today on the market. Because you get the money borrowed. And the inflation is so high that mathematically it’s better to take an interest-free loan than to take a larger sum of cash and pay your TV in cash.
So can so interest-free loans be bad? Is that correct as if you could somehow make quick money with it?
Usually not. But there is usually a huge catch here. You have to repay these interest-free loans in a certain period of time.
And if you do not do that, heavy interest rates will be incurred. And also handling fees. Now you think, that’s not bad and no problem. And it may be when you forget a payment and you pay once 100 euros.
If you are considering taking interest-free loans, it is highly recommended to set up automatic repayment immediately upon completion, so that your loan will be paid off without ifs and buts, month after month. You should always do so, whether you have private lenders or you make payments to your bank.
Then you can not forget that.
Why this is such a good deal for the providers is obvious. Let us assume, 10,000 people take this loan.
And around 50% of these people forget about payment. And the fee and the interest which then occur per person to 100 euros. And we have already earned an incredible sum of 5 million euros.
You can imagine that wholesalers have millions of customers. And now make an account of what great business and volume it is made. That’s fast money making with a niche market.
In the age of the Internet, in his daily breakfast (if that really makes sense, is another debate), but also in a matter of seconds with the bank can get in touch, so is also of customers
(= Borrowers) more emphasis on speed and ease of settlement.
The market has responded and now there are quite a few credit providers and credit intermediaries who are most successful in occupying and leveraging this niche. Be it as it may. Fact is too. If you have an interest-free loan, you could almost assume that you can get money quickly without really paying any interest.
Anyway. Whether you are using credit cards without credit bureau or taking interest-free loan offers, if you want to borrow money today.
They all work according to the same principle: they allow the prospective borrower to make a free request via the Internet without much effort. They manage to create and determine an offer after a short time. And in many cases, they also manage to beat the time-honored classic banks with a better deal for the borrower.
Credit intermediaries are flexible
A big advantage of these lenders and credit intermediaries: They also conduct credit checks like the classic banks, but they move in the rating a little more open, a little more free. They do not have as strict guidelines as the traditional house banks. They can do that because, among other things, they have the option of asking private investors. Each of these private financiers has its own risk profile, which can be higher than that of a bank.
If there are a corresponding number of private investors (= lenders), practically all of them are lumped together. In cooperation with a bank, a corresponding credit line is created for the future customer. This determines how much you can actually borrow someone for money.
This increases the chances for people with a not very good credit rating to also get a loan. And for all borrowers applies: You get from the work behind the scenes with nothing, ultimately have a fixed contractor. The whole thing remains so manageable and clear.
And the credit intermediaries come up with another bonus because they allow in most cases a free special repayment of the loan. That is, the borrower may either immediately repay all his credit at one go (if he is able to do so through any fortunate circumstances) or pay back more than the agreed monthly amount (which, of course, reduces the total cost of the loan!).
The trick: the borrower does not need to pay any “penalties” in this case! One more. Why is it that so many people need more and more money?
One of these reasons is the fact that the majority of people are gaining too little.
As a prospective borrower, you are looking for various such loan brokers on the Internet and then create a client account. Then you can already make your loan application (of course with the appropriate key figures, ie desired loan amount, desired term, amount of possible repayments, etc.).
Thereafter, a credit check is carried out immediately (stay calm – as stated above, set different standards here than in classic banks) and of course, then your identity is checked. This can be done (fastest way) online, possibly also a post-identity procedure is used.
If your credit rating does not bother prospective lenders, you will immediately receive a credit agreement by e-mail that you can print, sign and send back to your new financial partner. A loan with instant confirmation! And yes, many people are ready to sign almost anything. Why? Well, when you’re in a tricky situation, you hear that saying more and more often.
I urgently need the money and do everything for it!
If the credit check is not quite as desired, that does not mean that you are completely out of pure. On the contrary, credit brokers simply need a little more time to find private investors who want to take a higher risk.
In this case, it can take several days, of course, until you get a positive decision for your loan application, but as I said, your chances of getting money are generally higher with these credit intermediaries than with a traditional house bank.
Many borrowers make the mistake of their loan application, that they focus exclusively on the desired loan amount. Of course, this number is, so to speak, the foundation of your future credit. But a foundation can be so strong, it will not last unless there are matching static calculations.
For borrowers, this means that they too often ignore the amount of the monthly repayment installment. If this is too heavy (= too high!), Then the foundation will not be able to hold, which means for you: Your financial foundation we crumble and break apart! You will not be able to repay your debts, but on the contrary, you will be drawn deeper and deeper into the debt spiral.
That is, it is often enough to extend the term and thus reduce the monthly repayment rate down to still come to the desired loan. For banks, this is easy money!
Exact own research is therefore in demand. What regular income do you have, what regular expenses do you have? You really should check your finances for a whole year using your bank statements, because this is the only way to be sure that you include both all monthly expenses and all the annual costs only in your calculations.
Once done, you have done most of your homework. Then you should pay attention to two other important points, but these are on the side of your lender.
Effective interest tells you where to go!
Distinguish exactly between the so-called borrowing rate and the so-called effective interest rate. The debit interest is synonymous with the officially agreed loan rate. And this debit interest is only conditionally meaningful because it does not include any additional costs (you have to co-finance, after all!).
This means that the so-called effective interest rate, which includes all fees and ancillary costs, is far more meaningful. If you get a company or a credit intermediary who has nothing in his offers or in his loan agreement anything from an effective interest rate, I can only give you a good tip: Let go of it! Search on and select only providers who clearly and effectively identify the effective interest rate!
Loan or loan?
In common usage, the terms loan and loan have the same meaning. Banks are still the market leader and are making a lot of money. You borrow money from a private individual or a bank, and you have to repay this sum at a certain interest rate over a period of time, including interest. It does not matter whether the lender is a private person or just a commercial institution (= bank).
The actual difference is purely legal.
In the case of an installment loan, by setting your signature you owe your contractor the amount of credit referred to in this loan agreement. In the case of a loan, you will not owe this sum until it has been properly delivered by your contractual partner. In practice, it makes no difference if you borrow a loan or a loan.
In both cases, you need to transfer a certain amount of money to your lender at regular intervals (usually month by month). This amount of money consists of the interest (= profit of the lender) and the repayment of the borrowed capital.
If the borrower can not pay an installment on the agreed date, he or she will be advised by the lender (which, of course, involves unnecessary costs). You may still be able to negotiate deferments (= extension of time).
Warnings can be made several times. If they remain unanswered or the borrower stops making further payments, the lender will firstly terminate the loan agreement, but even worse, there will be a court case in which the lender will exhaust all funds in order to recover the borrowed capital. That is, all assets of the borrower are claimed by the lender. At least until the corresponding capital and interest have been paid.