The loan periods are usually 30 days , but can also be extended as needed to 60 days to 6 months . The transfer of the loan amount is not as fast as with a microloan, since most loan providers here conduct a loan check with the help of Schufa . A negative Schufa, however, does not have such a strong weighting here, since the question of payday loans is different.
Payday loans providers are not interested in the borrower being able to make regular interest payments over a long period of time. Here alone the payment of the final sum after a maximum duration of six months is of interest. Therefore, the payday loans is also a potential source of financing for customers with a negative Schufa entry, whose loan amount can even amount to 30,000 euros . payday loans are offered by various online providers, but they usually carry other names, such as personal loan , installment loan , instant loan or top loan .
Which provider to favor can not be generalized. But even for a payday loans should be paid as little as possible. To find the cheapest among the 41 online loan providers , the search engine can be used. Here, in addition to the conditions , the amount of interest is compared.
A comparison of payday loans is based on interest rates . Here one should not be surprised, if the names of the loans are not described with the term “payday loans”. With the most favorable loan providers, the conditions can also be compared in the further information . So one learns what kind of repayment it is with the corresponding loans.
If uncertainties arise due to a lack of basic knowledge, the guides and reviews help to eliminate them. Here you will find background information about loans in general and in special situations. In addition, further financing options are shown for certain uses .
At there is a uniform scheme to compare the forms of loan. It is important that the borrower had a few thoughts in advance. Since hardly any borrower is just looking for a cheap loan because he just wants to borrow money, the following questions should be easy to answer:
For payday loans, the purpose is irrelevant . Although there are various options for selection in the Usage field, such as real estate, cars or furniture , these are irrelevant for a payday loans. Depending on the use, the loan providers have different conditions in the offer. payday loans , however, are not earmarked .
The amount of the effective interest rate is directly influenced by the term . The longer a loan runs, the higher will be the interest payments to be made on the loan amount. Therefore, you should think twice about how long it really takes to repay the loan. If you want to get an impression about the influence of the maturities, you can play with the maturity slider on .
In addition, some providers tend to bind their offers to certain conditions . So it may well be that an interest offer for a payday loans applies only for a term of three to twelve months. If, for example, the loan is to be designed for 18 months, this offer will lapse . In general, interest rates rise with increasing maturity.