DATE: January 9, 2020
The statement that money is always useful is a truism, but the lack of it is extremely painful. This is especially true if we cannot give up the given expenditure. It can be about repairing a car, buying a new fridge or washing machine, buying children’s textbooks or Christmas presents. Bills to pay or buy e.g. a monthly ticket is also a must in our budget. Where to get the money in a situation when we are desperately lacking it, the family cannot help, and the bank sent us with a slip?
Usually, when taking an installment loan, we choose it ourselves when we want to pay it off. We have two options here: we can spread the payment into convenient, secure, monthly installments or repay the whole within a specified period. Most borrowers choose an installment system because it is much easier to deposit the agreed amount every month to the lender’s account than to pay back the money borrowed immediately.
It is worth noting here that we can always pay back the loan ahead of schedule. There are no fees for using this option. With installment loans, the installment payment deadline usually falls on a given day of the month. As a rule, this is the day on which the loan was granted to us.
The advantage of an installment loan is also the fact that the amount that we will have to pay back in installments every month is known even before we decide to take advantage of the offer of a given loan company. The loan installment calculator is used for this. It allows us to check the cost of the loan, which depends on how much and for how long we want to borrow. We can change the parameters ourselves, which will help us choose the variant that is most favorable for us.
The loan installment calculator also provides us with information on the total cost of the installment loan. The advantage of this solution is that we know from the beginning how much and what we will pay for.
The advantage of this solution is not only that the cash we are asking for will be on our account quite quickly, but also obtaining it without unnecessary formalities. However, you do not need to be in a financial situation to consider getting a loan in installments. For the money you borrow, you can go on a trip, sign up for a dance course, yoga class, buy your dream dress or a new gadget home. Our consultants are not interested in what you want to borrow money for. We offer you advice, help, and support, but we will not violate your privacy or contact your loved ones to ask them about your solvency or the amount of your monthly income.
Financial liquidity and having funds to cover current expenses is the basis for a peaceful and safe life, which unfortunately many people do not have. This is due to both the fact that Poles as a general rule rather do not save money and do not put it down, while on the other hand you also need to have something to save from. It is difficult to require a person who lives from first to first and whose payment or pension is barely enough to pay for an apartment and bills to create a financial cushion. A Polish pensioner often faced with the need to choose between paying bills and buying medicines will inevitably struggle with financial problems. We also address our offer to such people. Thanks to this, virtually anyone can take advantage of our installment loans, provided that they have:
Although the case of each applicant for an installment loan would be worth considering individually, we can also try to at least initially answer the question of why people use installment loans at all. There are several reasons. First of all, the growing popularity of installment loans is associated with its availability – it can be received by almost anyone from a fresh person after graduation, to a pensioner. Secondly, installment loans will definitely appeal to those who don’t have a credit history yet. Thirdly, they will work in a situation where we have no time or the opportunity to run from bank to bank or wait infinitely long for the decision to allocate the necessary amount.
Installment loans are a financial lifebuoy, but it would be too simplistic to treat them in terms of support only for the poorest. This perception of installment loans is very stereotypical because nowadays there are more and more people. And while being in a financial situation near the gate is an unenviable situation, the fact that we need financial support is also not a shame.
It is not surprising that, like every product, installment loans have both their advantages and disadvantages (fortunately, the latter are much less). The former include the abovementioned availability, speed of its receipt, reduction of formalities to a minimum, and convenience related to both the very process of applying for an installment loan and the lack of the need to run from one bank window to another. The disadvantage of installment loans is the high cost of payment requests, which is why the commitment should be paid back on time.
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