Payday loan, even with gift tablet

 

 

Christmas is coming, many people are already thinking about buying gifts: for whom, what and especially for what? If you were temporarily in short supply, even a good payday loan could provide a solution to the “what?” Question. In our compilation, we show you some of the more interesting payday loan deals, including one where the tablet is a gift from the bank to us.

For the avoidance of doubt, this article is not intended to persuade our readers to borrow against their will. We also consider the saying “stretch as long as your veil is worth”. But maybe many of them may be temporarily running out of money, but they know they will soon have a higher income so they will easily pay off their payday loan. Now they are getting the money from the bank, which they will be able to repay later on, thus solving one of the biggest issues of the Christmas present.

Every day, we can see payday loan ads on posters or on the TV ad block interrupting the most exciting moment of the crime. These typically suggest that we cannot find better credit than advertised elsewhere. After seeing such advertisements, after a while we wonder which one is the best deal for us. The best way to determine this is to look at the offers in a comparative calculator. This way, you can see right away that the payday loans featured in the advertisements you see multiple times a day are not the best.

In the comments of our readers we see that many people misunderstand the concept of a payday loan and see it as some kind of aid to the needy. Of course, this is not the case, as a payday loan is neither a benefit nor an obligation to take out, just an option for those who are in a state of temporary financial distress. It would also be important to understand that banks impose conditions on regular income for themselves and for those wishing to borrow. Higher-income customers may, on the other hand, obtain credit on more favorable terms.

Now, let’s see some specific examples of the monthly repayments we need to count on when taking out a payday loan. We racked up various loan amounts and maturities. With a shorter maturity, the monthly repayment is relatively higher, but the total repayment is lower than with a longer maturity.

500 thousand HUF for 1 year

500 thousand HUF for 1 year

There are banks that offer loans on more favorable terms to clients whose income comes to them. For example, if you transfer BIC Bank’s Advanced payday loan to your account for at least HUF 100,000 a month, you will receive a 6% discount on the standard interest rate of 18.99%.

Bank and loan name Installment / month Total repayable APR Expected income
BIC Bank Advance payday loan $ 44,699 536,383 Ft 13.99% $ 100,000

When borrowing a Superbbank Fair Express loan, it is not necessary to transfer your income to the bank, but the bank will give a discount to those who receive the income from the bank. They are already earning 68,000 forints, otherwise the bank expects 100,000 forints. Here you can get the credit in as little as 2 days if the credit is positive.

Bank and loan name Installment / month Total repayable APR Expected income
Superbbank Fair Expressz 45.127 Ft 546,522 Ft 18.57% $ 68,000

500 thousand HUF for 3 years

500 thousand HUF for 3 years

Let’s see how the BIC Advance payday loan develops if you take it for 1 year instead of 3 years. The monthly repayment will be lower, but due to the longer maturity, the total repayment will be higher.

Bank and loan name Installment / month Total repayable APR Expected income
BIC Bank Advance payday loan $ 16,188 607,970 Ft 13.99% $ 100,000

Applying for the Fero Bank Special Now payday loan is not a condition for applying to our bank. However, the condition is that we must have a net income of at least HUF 170,000.

Bank and loan name Installment / month Total repayable APR Expected income
Fero Bank Discount Now On payday loan $ 16,583 609,198 Ft of 14.30% $ 170,000

Nominent loan is not repaid monthly but weekly. There is also the option of requesting a service to have the administration and contract concluded at the claimant’s home and to receive the installments weekly, but this has a significant additional cost. Convenience may be an important consideration for many, but if you opt for this service, the cost of your credit would double. The maturity of this loan is 112 weeks.

Bank and loan name Installment / week Total repayable APR Expected income
Nominent loan 4,928 Ft 551,936 Ft 24.30% variable

Need more credit? You can even get a tablet as a gift

Need more credit? You can even get a tablet as a gift

There may be a life situation where a more substantial payday loan would come in handy. It could be a change of kitchen furniture or an exotic trip, when you could get a loan of one and a half million forints, repayable in 3 years. Let’s see what the possibilities are.

SMN senior payday loan requires a net income of at least HUF 250,000, but this can consist of two payments. It is enough to transfer $ 100,000 of income to SMN in order to get an interest rebate, so the annual interest rate is only 6.99%.

Bank and loan name Installment / month Total repayable APR Expected income
SMN Preferred payday loan 46,309 Ft $ 1,684,000 7.95% $ 250,000

With the OTP Promotional payday loan, the bank offers a 1% discount on the coupon online. The current promotion period runs until December 16, 2016. The amount of the loan can be up to ten times the net income, so for a loan of one and a half million forints we have enough income of 150 thousand HUF.

Bank and loan name Installment / month Total repayable APR Expected income
OTP Promotional payday loan 51,991 Ft $ 1,871,663 16.04% $ 150,000

In the introduction to our article, we promised to show you a payday loan where the bank gives you a tablet as a gift. This opportunity is available at Bankate, and those who receive a payday loan of at least one and a half million forints receive such a gift. The promotion runs until December 31, 2016.

Bank and loan name Installment / month Total repayable APR Expected income
Bankate My Rhythm payday loan 48,394 Ft $ 1,757,175 11.22% minimum wage

All payday loans in this article have a fixed interest rate throughout, so the bank cannot modify it until the end of the term. Thus, the installment will also be fixed throughout. This is very good because you do not have to worry about having to pay higher amounts.

 

 

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