The payday loan is one of the most sought-after and popular credit products and is negotiated every day by thousands of people from all over the Czech Republic. In this article, we’ll deal with these loans in a little more detail, telling who they’re eligible for, what their typical features are, who has the chance to get this loan, how the loan is paid, or what to do when deciding who to apply for.

Paycheck loans online from direct lenders are fast and 100% safe

At http://paydayrelay.com/ announced that an online payday loan is suitable for those who do not have a chance to get a loan from a bank.

Pay-out loans are a sensible solution, especially if you run out of money for 5 days before paying and you don’t even have a crown. They also have a sense in cases when your computer, TV, refrigerator or washing machine break down at home, and you do not have enough money for immediate repair. However, it can be paid even if you have to pay, for example, an outstanding balance for electricity, water or other important bills that cannot be delayed and could be disconnected by your immediate failure to pay.

On the other hand, a loan to pay is definitely not a solution for a person who has large debts and in this way wants to repay them (perhaps with the exception of the first free loan where the fees are zero). In the case of fast-paying loans taken repeatedly by the client, interest rates are relatively high, and in the long run, the indebted person can get into an even worse situation.

What are the typical loans?

What are the typical loans?

There may be different conditions for pre-paying loans, but some general features have common features. The most typical features of these loans are:

  • short maturity (usually a max. one month)
  • low loan amount (usually only a few thousand for the first time)
  • high interest, respectively. high APR (but fees are important, APR does not play such a role)
  • possibility to extend the maturity (always for a fee-only)
  • easy online negotiation (via website)
  • quick payout (bank account, usually the same day, sometimes within an hour)
  • mild conditions for the applicant (the vast majority of candidates will actually receive the loan)

Who can get a loan into a payout and who is not on the contrary?

The payout loan has – as most non-bank loans – relatively low demands on the applicant and so the vast majority of candidates can get it. Of course, there is a minimum age of 18, but for some providers, this limit is higher (eg 20 or 21 years). These loans are also suitable for mothers on maternity leave, university students, or a person receiving a pension. Mostly there is no need to prove income, many companies lend to people with a record in the debtor’s register. For all fast non-bank loans to be paid, you do not need any guarantor or pledge of property.

How is the loan paid out?

Most non-bank companies providing quick pre-pay loans allow reimbursement only by bank transfer. He has the advantage not only of being cheaper but also much faster than other forms of payment. In addition, for some providers, the condition is that the client must have his or her own bank account – so these companies first want to pay a crown verification fee to make sure that the applicant has an actual account. Those who do not have an account with a bank or do not want it (eg due to executions, etc.) is also the possibility to arrange a loan to pay, but companies that allow payment by postal order is relatively few. In addition, there is the disadvantage that you have to wait a few days for money, as opposed to a transfer that can be a matter of hours, sometimes even minutes. There are, of course, non-bank companies that pay cash in hand, either at the branch or directly at the client’s home. 

There are a lot of companies that offer loans to pay, we have chosen at least three for you that currently offer the best terms.

Riley loan

Currently a clear number one among fast non-bank loans. The biggest advantages of this product include not only the first free loan but especially the lowest fees for other applications from the loan. By selecting a Riley loan, you can save very much.

Catherin

A very popular short-term loan for which you can get a loan of up to CZK 8,000 for the first time free of charge. The maturity is always from 7 to 30 days, if necessary it is possible to extend the loan for a fee. Loan applications can only be submitted via the Internet.

Via SMS

Fast non-bank loan, you can have it for free for the first time, but up to CZK 4,500. Permanent clients can then apply for a loan not only online, but also using a text message (SMS loan). From the sixth loan, its maximum amount is up to CZK 15,000.

How to choose a loan to pay?

How to choose a loan to pay?

Are you not yet a company to ask for a loan? If you do not know much about credit offers and are afraid of making a mistake, we recommend choosing a loan using independent internet graders. These are professional web portals that specialize in comparing bank and non-bank loans, mostly to non-bank loans. Choosing a loan through one of these sites has a lot of benefits – you save a lot of time you would otherwise spend looking for individual credit pages, save money because you can easily choose the most advantageous offer, and last but not least, guarantee that the loan is safe and Certified – Professional sites do not offer fraudulent loans by comparing loans. 

What offer of payday loans to pay attention to?

What offer of payday loans to pay attention to?

While for bank loans the client is always absolutely sure that it is not a fraud, the situation is much less clear with non-bank loans and there are many fraudsters on the market. Practically every day, we can read on the Internet the sad contributions of people who have paid a high fee, have been promised a loan, but have not received a crown and have lost their money. In order for you to do nothing similar, never pay a fee in advance when applying for a loan. No serious company requires anything, the only exception is the so-called verification fee, which, however, is only a symbolic crown. Also, be aware of the various offers in newspapers or magazines, flyers, bulletin boards, etc. – every solid non-bank company has its own website, so if someone has just a phone or e-mail in the ad, it’s suspicious. However, the website itself is not a guarantee that it is not a scam – please note, for example, how much the site contains information about whether it has contacts (not just phone or e-mail, but also company address and other information).