Online loan: is it really that expensive?, as they say about him?

Nowadays, the Internet has become a full-fledged second reality. You can travel in it, have fun, make money etc. It is also convenient to take loans online, conditions are detailed here "". However, many people are still afraid to take online loans, speaking, that they can be expensive. In this article, we will try to dispel your doubts.

Advantages of online lending:

1. Saving time

Really, you don't have to adjust to the office hours. Say goodbye to work, stand in line at the cash register. Time and money are also saved, which you could spend on the road.

To get a loan online, it is enough to decide on a creditor company. Read the terms of the loan, customer feedback. You can download the application on your phone for even greater convenience or register on the website. Fill out the application, indicating the amount and term of credit.

The decision on the application will not be made by a person, and the scoring system is a special program, which will analyze the documents you provide and other information about you. The answer will be given already through 10, or even less, minutes. And the money will immediately go to the card.

2. Accessibility

Any adult citizen of Ukraine can get a loan online. Including, unemployed, a student, pensioner, mother on maternity leave — that is, even the most vulnerable categories, which banks lend very reluctantly.

3. Absence of bureaucracy

To get a loan online, you only need a passport, identification code and card (issued in the name of that, who wants to take a loan). It is not necessary to collect any references.

Disadvantages of online lending:

1. Price

Really, the base rate for online loans is quite high - on average 2,5% for one day. It is caused by high risks for the creditor. Because online loans have the highest non-return rate.

But, it is very rare that someone borrows exactly at this base rate. So, market leaders always have a developed loyalty program. Discounts for it reach in some places 80%. You will generally be offered a discount on your first loan 99,9%, follow the link for more details https://mycredit.ua/ua/. So the real online loan rate varies within the limits 1-1,5% in a day. And it can be much smaller.

2. Short loan term

Online loans are payday loans. They are issued for a period of up to 30 days, less often - to 60 days. But, if necessary, it is always possible to agree on an extension of the terms of the contract with the creditor. This service is called extension. The main, you need to connect it before that, as the loan becomes overdue.

In general, as we see, online credit is not so expensive. And if you are lucky to get a big discount (spoiler: the biggest discounts are on the eve of holidays), it is also profitable, taking into account the inflation rate.