Ignorant people believe that it is impossible to get a loan without interest and continue to use expensive banking products: short-term loans at high interest rates, loans in pawnshops secured by property, etc.
What is an interest-free loan? Such lending is available in every bank and is a period of preferential lending. This is the best option for a payday loan.
Main features of concessional lending
- Usually, the contract sets the terms not exceeding 90-100 days.
- The minimum loan amount ranges from 30 to 50 thousand rubles. Sometimes a decision is made to increase it.
- Having a good credit history, as well as providing a full package of documents for applying for a loan.
Almost anyone who has collected the necessary documents and has a good credit history can apply for a credit card.
For the approval of concessional lending, you can additionally provide the following:
- Documents of a solvent guarantor.
- Real estate or a car as collateral;
- Certificate of no criminal record.
- Certificate from the place of work.
In addition, the seniority and age of the future borrower are also taken into account. The more experience you have, the more loyal conditions can be offered by credit organizations.
A significant plus of this lending is that you can use it an unlimited number of times. The main thing to remember is that you need to pay off the debt on time. Of course, an interest-free loan will not be beneficial for everyone, since it is not designed for long-term use of borrowed funds. However, for some, this is the only way out to acquire the desired thing and not wait until the required amount of money accumulates.
