Do you need a sudden injection of cash? In this situation, you should find out what a so-called stock loan is and how it works. It can save you in many crisis situations when you need a sudden injection of cash.
What are the characteristics of instant loans?
An instant loan is perfect for people who need cash quickly. Both banks and non-bank institutions offer such loans. At the same time, in the case of the latter, we can talk about classic loans immediately. Why?
The reason is simple – minimum formalities. You can find instant loans that do not require income statements, where BIK is not checked. This allows you to receive money quickly.
The big advantage of instant loans is also quick processing of applications
Often within a few dozen minutes of completing and sending the form you will receive a decision on your application. Most often it is positive, but it may turn out that, e.g. the form sent contains errors, which makes it impossible to consider the application positively.
Many people may wonder how much money is waiting for such a loan taken online. A lot depends on which bank you have an account in, but often you will receive a transfer within an hour.
What are the costs of an instant loan?
Many people wonder what the interest rate is on the stock loan. In fact, any non-banking institution can determine the conditions under which it will offer loans. At the same time, these rules are clear and you can read them before completing the application. What’s more, in many non-bank institutions you can manipulate these parameters freely – you set the time for which you take the commitment and its amount. On this basis, the loan costs are calculated automatically.
Many people wrongly believe that such loans are more expensive. However, it is worth noting that many non-bank institutions offer a so-called “free loan”, where the first commitment is cost-free. You give back as much as you borrowed. It should also be remembered that in some cases this is the only form of loan a person can afford.