Facilities granted by banks for the payment of your personal payday loan

There are currently many financial institutions that you can use to get funding, which is why banks and financiers have to get more creative, and seek to provide greater benefits and comfort to customers, because only then will they be able to attract a new audience and keep They already have.

In the case of personal payday loans, a series of facilities have been added that allow clients to handle credit payments with ease, thus avoiding being late, which is not convenient for the client or for the banks. What are these facilities? These are four of the most common:

Grace period to pay the first installment

Grace period to pay the first installment

Most banks offer you a period of up to 60 days to pay your first installment. That is, you get the money and you don’t have to start paying it right away.

But something to keep in mind is that interests continue to run, so you should carefully evaluate whether or not to use this facility.

Choose from 12 or 14 installments per year

Choose from 12 or 14 installments per year

Most workers receive 14 salaries a year, as bonuses are included.

That is why you can choose between paying 12 installments or 14, so you can advance the payment of your credit and cancel it in less time.

Zero fee or wildcard fee

Zero fee or wildcard fee

Some banks allow you to select up to two months within the credit term in which your monthly fee is zero.

It does not represent a saving, only that, if you know that these months you will be short of money for some reason, you can use that facility and decide not to pay the fee for that month.

Extraordinary payments without commission

Extraordinary payments without commission

If you receive a bonus, win a prize or have additional money, you can make extraordinary payments to your credit, without paying penalties.

Each bank has special conditions for this situation, but in most, it is possible to make advance payments without harming you.

Remember that the conditions and facilities depend on the entity you choose to apply for your loan. To choose the most appropriate option, you should first compare the alternatives.

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