Credit card loan at 0%
The development of modern technologies contributes to the emergence of new types of lending. Now you can get a certain amount in just 20 minutes without leaving your home. A loan at 0 for 30 days is offered by many microfinance organizations in the Philippines that work with adult citizens. Clients can receive borrowed funds for any purpose without the need to confirm it. All that is needed is to have a personal card, passport and TIN.
Why companies issue loans online at 0%
Today it is quite possible to get a loan without interest on a card, but there are a number of features. Clients are interested in such an offer, as they can use credit money and not overpay. But there are a number of features that must be taken into account:
- An online loan without interest is issued exclusively to new borrowers. That is, in one MFI you can get a loan only at the first application. A repeated microloan is issued at a fixed standard rate.
- New loans of money according to the passport are issued for small amounts. Usually the size of the first loan does not exceed 3,000 PHP. When applying again, the amount increases to 10,000 - 15,000 PHP.
- Another feature is a short loan term. Some organizations shorten the grace period during which you can not pay interest. Usually, under the contract, money is issued for 30/31 days. Some financial institutions issue a loan at 0 for a full term, while others offer to draw up an agreement on preferential terms for 7-10 days.
There are no tricks in these lending conditions. Thus, MFIs attract the attention of clients with the expectation that the next time the borrower will return for a loan to this particular company. Such offers allow institutions to take a leading position in the microcredit market.
What to look for if you need a loan at 0%
After analyzing the loan offers of microfinance institutions, it is recommended to pay attention to the following indicators:
- microloan amount;
- loan terms;
- method of calculating the interest rate;
- the possibility of extending the contract.
Before direct registration, clarify whether there are additional one-time commissions and other payments.
How to get a loan online at 0 percent
If you are interested in loans at 0 percent, then first you need to familiarize yourself with the MFIs and their loan programs. Our service has collected the best offers from reliable microfinance organizations. After studying the conditions of the companies and choosing the right one, go directly to the organization's website. The process of obtaining a loan in 5 minutes at 0 percent looks like this:
- On the main page of the company, select the terms of credit, such as the amount and term of the loan. Proceed to filling out the questionnaire.
- The next step is to provide personal information. Passport data, information about work and income, credit obligations, etc. are filled in. The numbers of relatives and friends who will confirm their identity are indicated.
- The next stage is the verification of the bank card, to which the borrowed funds will be received, if approved. In this case, the card number, expiration date and CVV code are indicated. The card is linked by blocking a certain amount on it, which usually does not exceed 1 PHP.
- After the questionnaire is sent for consideration. Before sending, be sure to double-check the correctness of the information entered. Otherwise, if there are inconsistencies, a refusal may follow. If representatives of the MFI have additional questions, the client can call back to clarify the information. The response is sent via SMS or email.
- If the borrower receives approval, then an electronic contract is signed by entering a code from the SMS. In the near future, the money will be transferred to the verified card.
The whole process of applying for a credit card at 0 usually does not take more than half an hour. When you re-apply, it takes just a few minutes.
What does a loan at 0% give
A loan at 0 percent is a great opportunity to get financial assistance in difficult times, but not overpay. However, you need to take care of the timely return of funds. This will allow you not to spoil your credit history and in the future to receive microloans on favorable terms. Many MFIs offer to use the contract extension service if it is not possible to repay the debt in a timely manner. Our service works exclusively with proven and reliable financial institutions that have a license. Therefore, the search for MFIs on our website is completely safe.