The instant loan is a very good solution when there is an urgent need for money. The advantages of the instant loan lie in the quick processing of the application and the resulting short-term availability of the loan amount for the applicant. Criticism at http://bakernorthrop.com/payday-loans-uk-direct-lenders-brokers/
Special repayments are a great advantage
However, even if there is an acute need for money, one should not forget that different providers offer different conditions and therefore carry out a thorough comparison of different providers. In addition to total costs and the amount of interest, terms and speeds during the payment are relevant criteria.
But the instant loan with special repayment should also be considered. Many providers have this option ready for their customers. An instant loan with a special repayment can help to repay the loan amount faster.
What is an instant loan with special repayment?
Fixed rates and a fixed term are generally agreed for the instant loan, which is paid out within a very short period of time. In addition to other factors, the amount of the installments and thus the term are important bases for calculating the costs that arise from the loan. Long terms with low rates incur higher costs than short terms and high credit rates.
However, it is not always possible to commit to high monthly installments in favor of the favorable loan prices. In this case, the instant loan with special repayment offers the possibility that the loan can be repaid with special payments in addition to the regular installments. This means that special payments such as Christmas bonus, asset-related benefits that are paid out or other amounts of money can be invested in the special repayment.
There are big differences in the instant loan with special repayment option
But even if the instant loan with special repayment is optionally available from the provider, you should not fall back on the first best offer. In the small print, it is often found that high fees are charged for the instant loan with special repayment. This then means that the lender can compensate for the shortened term of the loan, and thus the lost interest, by charging fees accordingly.
Other providers fix free special repayment options for the loan throughout the year. All other special repayments are then subject to charges again. It is therefore important to specify exactly which special repayment options are available free of charge and when or which provider charges are made for this in the case of an instant loan with special repayment.
How do I find the cheapest provider?
The Internet has made it very easy to find a cheap instant loan provider that also accepts special repayments. Many portals on the Internet offer free and non-binding comparison options. With just a few details, you can objectively compare the individual providers, whose conditions are exactly examined under the same conditions and thus find the provider for the instant loan with special repayment who offers this service free of charge or at least very cheaply.