Free payday loans, without interest or commission fees, are included in the offer of all companies providing online loans. ‘First loan for free’ has almost become the watchword of non-bank loan companies.
Most often, such loans are available for a month, which rather exhausts the definition of short-term loans. What if those 30 days are not enough?
I need a loan for longer
Payday loans for 45 or 60 days are an undeniable convenience for the customer. The same (and sometimes even larger) amount to be given back in even twice as long? Nothing but use. Of course, you have to realize that this is quite obvious another marketing strategy of loan companies, which resulted from a kind of loan revolution in our country.
Most companies already offer payday loans for proof, payday loans without certificates, and even payday loans without TLV and for those in debt. Therefore, the natural order of things was to introduce another thing that would attract customers.
Do you have to worry that this is a “something for something” situation? Rather not if you borrow it wisely and you are sure that you will pay off the loan. The longer repayment term also applies to first loans, i.e. free loans. If they are repaid on time, in accordance with the contract, the customer will not lose anything and will gain a little more financial freedom.
If he does not – he will have to bear not only the penalty costs, but also the standard costs of the loan, which will be the greater the longer the repayment period – it is obvious that the long-term payday will be more expensive in this case than the 30-day one. But these costs apply only to unreliable customers, and the responsible borrower has nothing to fear.
Where can I get one?
All presented long-term payday loans do not require any additional formalities and can be obtained in the same, properly standardized way. The good news is also the fact that such payday loans are offered mainly by companies that can afford it without compromising their finances – large, reliable companies that are regulars in payday loans rankings. So there is some quality behind it.
Worth or not worth?
The benefits of using payday loans for more than 30 days are clear. It is primarily a lower risk that the loans will not be repaid for some reason, and thus the negative consequences of non-repayment can be avoided. So it is a great solution for those who have a more or less tight monthly budget and, although they need money, they realize that they will not be able to push the loan repayment into this budget. It also ensures greater financial stability, the possibility of better planning of expenses and a sense of security, without feeling “living with a knife on the throat”.
Are there any reasons against such loans? Well, they are, but they depend on the individual approach of the customer. It happens that in some cases there is some looseness due to the repayment distance. A short repayment term can be mobilizing and require spending planning. However, every borrower should be aware of the consequences of not paying back a loan before taking it, and think about whether the borrowed money will eventually lead to a spiral of debt.