There are situations in life when we need extra cash. Quick payday installments offer non-banking institutions. Usually, we can borrow several thousand in such a situation for a short period of time. Nevertheless, as the name suggests, we can pay off such a delay in installments, which will be much less noticeable for our portfolio. You can also apply for this kind of payment by online. We will fill out the application on the website and the contract will be provided by courier. It is worth taking into account that the general conditions for obtaining payday loans can be found in the Consumer Credit Act.
What should I do to receive a payment in installments?
In order to be able to receive a payment in installments, you should first sign an appropriate agreement with the company that will verify our creditworthiness at the stage of submitting the application.
In the case when we apply for a payment in installments via the internet, it is enough to fill in the form with just such data as:
- surname and name,
- mailing address,
- number and series of ID card,
- possible amount of payday,
- the amount of income generated on a monthly basis,
- Bank account number.
What will the payday cost in installments be?
A one-hour installment, as in the case of other products, we should carefully analyze the costs related to it. The real rate of interest can be helpful in this case.
While analyzing the conditions, we can not limit ourselves to such an indicator, because the APRC applies to the whole year, therefore if the payment of the payday is made within a few months, the indicator will be less effective for the calculation of the entire debit’s costs.
Installments on installments have two most significant costs: commission and interest. All information about costs should be presented in a simple and understandable way. It is best on the information form that will be available before we sign the contract.
It may also happen that our first time in a particular loan company will not have any interest rate, or we will pay only commissions, or that the standard commission will be lower than the one that applies when you take the first minute. Nevertheless, despite this, we should carefully analyze the costs. The commission in the case of payment installments usually depends on the amount we have applied for, as well as on the repayment period, which is provided for by the contract we have signed.