The microcredit market in 2017-2018 years has grown greatly, because there are many new organizations that offer people the payday loans. Today, a payday loan to a card or a bank account without refusal and checks is not a problem at all.
This service is in great demand, because there is an opportunity to receive through the Internet the amount of money that the client exactly needs, and without asking for help from banks, or relatives and friends.
What Are Benefits?
Recently, the tendency to borrow money “till salary” is no longer relevant. It seems that the society has adapted to the economic situation when rich become even richer, leaving no place to other. But if ordinary people somehow adjusted to live than unplanned expenses pop up, f. e. an urgent visit to the dentist, minor renovations in the house, and so on.
There are situations when the bank is not the most convenient option: long lines, far away, there is no guarantee that they will approve the loan, etc. In such cases, people turn to microfinance organizations. In fact, some first offices were opened precisely in rural areas, but with high penetration of the world web and gadgets’ popularity now it does not matter where a client lives. The most important issues are terms (number of days) of credit and interests.
In addition, this type of receiving extra funds has several important advantages over the others:
- a higher amount in the first loan.
- possibility of pay-offs through self-service terminals, which are very popular in the country.
- an option to apply for a repeated loan for a period of 12 months. It means that for new customers the term is up to 30 days, for regular up to 12 months.
- for regular reliable customers, a reduction in the interest rate on microloans is possible (this issue is resolved only on an individual basis).
Each financial company with a proven record has a loyalty program for people who use its services more than 1-2 times. In fact, for loyal clients an approval can take no more than 2-5 minutes, it’s amazing!
The conditions under which microfinance companies issue loans to their customers may differ significantly. Usually, if a client makes his/her request for the first time, he/she will not be able to count on very substation amount. You can familiarize yourself with some example of calculation on the companies’ websites in the section “How to extend a loan”.
As a rule, MFOs guarantee your security and confidentiality, as information processing is carried out in accordance with the high requirements of payment systems Verified by Visa and MasterCard SecureCodе.