Archive for November, 2018

The best loan without interest and without payroll

Friday, November 2nd, 2018

Now you can compare to find the best quick credits without interest. If you need money urgently and you do not have a payroll, here you will find your perfect financing and everything you need to know to get fast loans without interest and without payroll.

How much money can I get with fast loans without interest and without payroll?

In the credit market, competition is such that we can now find the loan that best suits our needs and preferences- lots of options. If we look for quick loans without interest and without payroll, we can access three types of financing that assure us that we do not have to present a payroll or pay to lend us money:

  • Minicréditos. The financial product of the market that best suits the particularities of being without interest and without payroll are the mini loans. With mini-credits we can get up to 300 euros for free and without having to submit a payroll. Only some mini credit lenders contemplate lending money to new clients at 0% APR, that is, completely free. If we get one of these mini loans we will only refund the amount requested.

  • Personal loans. At other times we can find personal loans without interest and without payroll. These allow us to access larger amounts of money, although there are few entities that offer them. In addition, we must bear in mind that many times when they talk about interest-free loans they are referring to 0% TIN. However, these credits may contain commissions or links that in the end do not make our loan free. For a loan to be free it must be at 0% APR.

  • Credit cards. If we have a credit card, we have a way to get fast loans without interest and without payroll. Depending on the credit we have granted on our card we will have access to more or less money. However, it will only be free to postpone a purchase with our credit card when we choose to pay it once a month the following month. In this way, when we make a purchase we can pay it the following month and it will be without any interest. In this case, we will not have to present a payroll or any paperwork because the credit card we would have already granted it.

As we can see, there are three different products, so we will have to see which of them suits us best. As for the concession time, if we have a credit card, we will have financing instantly. On the other hand, if we do not have one, we can take one of these plastics 2 or 3 weeks. As for personal loans, depending on the entity and the type of credit usually takes more or less, but we can say that, as a general rule, in about 48 hours we will have the money. On the other hand, mini-loans are granted in minutes and 100% online can be requested.

The requirements to access free credits

To access fast loans without interest online, we will always have to comply with the requirements that the entity or the lender imposes. Banks and lending institutions will always check that the personal and banking information that we put in the application is the real one. By corroborating our personal data they ensure that we are really the ones who request the quick credit. The bank details help the entities to ensure that we are able to cope with the repayment of the loan. As we have already seen, we have, in broad terms, three types of quick loans without interest, although we can assure you that for any type of financing these conditions will be requested:

  • We must be of legal age. Sometimes we can even be required to have a minimum age that exceeds 21 or 23 years, for example.

  • We have to be residents permanently in Spain and, in addition, they will check it with our ID, NIE or Passport.

  • We must have a regular, justifiable and sufficient income that guarantees the entity that we can be able to repay the requested quick credit.

These basic requirements can be added or made more stringent, although, as we have said, it always depends on the entity or the lender. For example, in the case of mini-credits without interest, these are available as an offer only for new clients. Therefore, one of the requirements to hire free mini-credits is that it is our first contract with the company. By normal general, in the web of the lenders, we will find the basic requirements of each entity.

Ways to get fast money on the Internet

When we find ourselves before a need for urgent money we can resort to different types of quick credits. To make the whole process more agile, we can make the request for these credits from any mobile device with Internet connection, so we do not have to go to any office or entity. At HelpMyCash.com we have developed the free guide How to get fast money online to discover everything about online fast loans.

Quick credits without payroll, but always with income

We have already seen what conditions we need to get fast credits without interest and one of the requirements is to have an income. Therefore, even if we do not have a payroll, we will always have to present some type of income to be granted a quick loan without interest. 

As our expert tells us in the video, our income must be justifiable, that is, that we can prove it and come from a legal source. They also have to be income that we receive periodically because in this way the entities ensure that during the duration of the loan contract money will enter our account every month. In addition, the amount of our income must be sufficient to pay the quick credit and other obligations we have as rent, bills or receipts. According to the Bank of Spain, it is recommended that we do not allocate more than 30% of our monthly income to pay debts. When we surpass this percentage we are at risk of suffering a mismatch in our economy. Therefore, if we want to know if our income is enough to meet the fast credit we want, we can calculate how much of our salary would take the total of our debts and see if it is within that 30%.

Interest-free credits may not be free

As we already anticipated, sometimes, the characteristic of ‘without interests’ does not have to imply a gratuity. This is one of the most used advertising claims by entities and lenders. Loans without interest and any type of financing will be free as long as the APR is at 0 %. Therefore, if our financing is at 0% APR we can be sure that we will not pay any interest rate or cost for it.

Many times the loans have no interest, but they refer to the TIN. Instead, they can hide other costs such as commissions that later make our interest-free credit a price. The free minicréditos, having no commissions or linked products do become free credits, because we will only have to reimburse the amount that we have requested.