Non-bank loans are consistently very popular. Recently, an increasing number of customers are choosing installment loans – thanks to which the repayment period is longer and the debt can be repaid in monthly installments. This means that repayment of the loan is no longer such a heavy burden for the household budget. We invite you to read the article below – we discuss non-bank loans for 12 months .
Non-bank loans for 12 months – the most important information
The main advantage of non-bank loans for 12 months is the fact that their repayment is divided into convenient installments. This minimizes the risk of late repayment. Long-term loans online can easily replace a bank loan in the traditional sense. In addition, non-bank loans for 12 months give us much more opportunities than popular payday loans. However, a big disadvantage of loans for 12 months is checking borrowers in various debtors’ bases (such as the Credit Information Bureau or the National Debt Register) and in terms of creditworthiness
How to take a loan for 12 months – a guide
The most important elements of the 12-month loan agreement are the loan period. The longer the repayment period, the higher the total cost of the loan. Thanks to it, however, monthly installments will be much lower, which will certainly allow you to ‘add up’ to your monthly household budget more easily. Getting a loan for 12 months usually involves more formalities – companies verify our creditworthiness and check that our data does not appear in existing debtors’ registers.
The decision to grant us a 12-month loan is primarily influenced by our credit history and current financial situation. A very important issue is whether we have permanent employment or another stable source of income. If you do not have a stable source of income, it can be difficult to get a 12-month loan because the number of offers is cut short. If we meet the above-mentioned criteria, you must submit a loan application online and confirm your identity. A very simple way to confirm your identity is to perform a verification transfer, installing a special application. This can also be done during a courier’s visit at home. When we complete all the above-mentioned steps, we just have to wait for the transfer to be received. The biggest advantage of loans for a year is minimizing formalities and quick transfer of money to your account. This means that a very large number of borrowers choose this type of loan.
How much is a loan for 12 months? We checked!
Many people are wondering what the cost of a 12-month loan is. The lowest interest rates are offered by Longa and Fast Money – the latter lender also encourages clients to offer loans without BIK. An interesting proposition was also prepared by specialists of the Ratado loan company – 127% APRC.