Christmas is coming. For some it’s a time of rest, reflection, meeting with family and friends. However, for them to be fully successful, you need funds, gifts, food to organize a party for family, friends or give a loved one a small gift at this special time. Where is the best place to go for such a loan? Let’s consider your friends or family first.
However, if for various reasons this option falls out, then for a cash loan we can go to a bank or non-bank institution. Where will it be the cheapest?
The cash loans offered by banks can be used for any purpose
So they are perfect for the holidays. Such loans are relatively cheap if we find the right bank. The nominal interest rate is about 10%. With a low Christmas loan amount, the costs should not be high. However, it should be remembered that the APRC (actual annual interest rate) is used to compare credit products. It includes all costs of taking out the loan, including commissions, various types of fees and insurance.
We can also apply for a loan for holidays at non-bank institutions. There are plenty of those offering quick loans for every occasion (so also for the holidays). There is also a lot to choose from. Despite the criticism of many people, such a loan may be more attractive than that taken at the bank.
The big advantage of non-bank loans is the possibility of short repayment terms, which can be e.g. 30 or 14 days. Of course, there are also companies that will lend money for several months. Their cost compared to a bank loan is much higher. However, there is a way to get a non-bank Christmas loan completely free, i.e. without any commissions or hidden fees.
For new customers
Some private non-bank companies have prepared a special promotion. Well, taking your first loan in a given company offering payday loans we get it absolutely free. This means that if we refund the money within the set time (up to a maximum of 30 days), we will not pay any interest or commission.
By borrowing USD 500 in these companies, we actually give away USD 500. This is a good option for people who want to borrow money, for example only for withdrawal. Some of the non-bank institutions check the credit history at the Credit Information Bureau.
However, it is not difficult to find a lender who will give us payday loans without any income statements, without checking the client in various databases, and even without leaving home.
