Payday loan by phone same day: quick cash

Borrowing money quickly with a payday loan by phone is the easiest way to quickly take out a loan, so give them a call. There are several advantages to taking out your loan by phone, you not only pay a lower interest rate than with banks, but it is also a lot faster and no personal conversation is needed, everything is handled by email.  Many people are rather hesitant about borrowing money by phone in general. Even with the interest rate now falling, borrowing money continues to be a perilous undertaking for many people. Often, borrowing money has to happen quickly. It is often about an unforeseen expense for which no budget is available, and where a decision must be made quickly. Under such circumstances, people sometimes make unthinking decisions. With a falling interest rate, it is tempting to borrow money quickly.

Falling interested

Falling interest rates push the threshold for many consumers to borrow money quickly without BKR testing. The consequences of this can be annoying. As a consumer, you enjoy less protection without BKR testing. That is why it is good to consider the falling interest rate phenomenon. At first glance, falling interest rates in general and, as a consequence, falling credit rates, only seem to have a positive impact on the average consumer looking for quick ways to get money, whether it’s a revolving credit, a mini loan or a form of borrowing money without a BKR review.

The other side of the counter

On the other side of the counter are the bankers and the lenders. Falling interest rates are not such a good thing for them. After all, the phenomenon means in the long term a substantial loss of income for the agency that provides the loan. This immediately explains why you should also be careful when taking out a loan even in times of falling interest rates. Whether it is borrowing money quickly, revolving credit, a mini loan, or borrowing money without BKR review, for all forms of borrowing money, in general, it is clear that you can only do that if the circumstances are favorable and stable for the provider. Leading Dutch economists such as Edin Mujagic have already pointed out to us that falling interest rates do not always benefit consumers, because low-interest rates also mean that there is less to be earned for banks, credit institutions and lenders in the long term. This can result in loans being granted less quickly.

Borrow money in general

In general, this means that borrowing money has become more difficult for the consumer or starting an entrepreneur who was relatively easy to take out a loan for a smaller amount with the bank or a regular credit institution until a few years ago. At the moment this is already a lot more sensitive, even with a fine-tuned business plan, there are currently many young entrepreneurs who cannot get a loan from the bank, despite their creditworthiness compared to a few years ago did not go backward.

What is the best way to borrow money in times of falling interest?

For short loans, negative interest rates have already been applied in the Netherlands for a few months. But what should we imagine? Little or nothing can be found about the financial products that are presented to the consumer. Let’s see some examples:

The revolving credit

With revolving credit you have the advantage that this loan runs for a longer period of time and that you can use it for various purchases. This form of credit is therefore particularly useful when you know that you are faced with a number of expenses, but do not yet know exactly when you will have to do this. The revolving credit runs potentially over the long term, within which it is not yet certain whether interest rates will fall or rise. Then you have the advantage that a revolving credit that you are now entering into can be repaid prematurely without paying a fine. Currently, the interest rate for revolving credit is around 4.5%. Obviously this is not yet a negative interest rate, but it is a low-interest rate for this form of credit, which means that you will certainly benefit. It is best to request an online quotation so that you can look at what the total cost is at your leisure.

Borrow money without BKR

A BKR test is required to take out a lot of loans in the Netherlands. Yet there are opportunities in the Netherlands to borrow without BKR without this resulting in usury. For example, you can borrow money with a low-interest rate from many municipalities. These services have been specially created to help people with limited financial resources and rejection by the Credit Registration Office. So you borrow money without BKR, but you can be sure that you do not run a big risk. After all, you borrow from an official body, also known as a social bank. Unfortunately, it is necessary that you complete other formalities, and therefore this is not a fast way of borrowing. However, this allows you to borrow in a responsible manner without being dependent on commercial lenders.

The mini loan

Isn’t the sum of money you need that big? Then you might consider taking out a mini loan. A mini-loan often involves an amount between 100 and € 800. Here too, the rule is that the risk for the provider must be minimal. In my view, mini-loans with negative interest rates are not yet available today. Yet here too there is a falling interest rate: on an amount of € 100 you currently pay only € 0.58. Are you faced with the choice to borrow money and do you not know how you want to do that? I recommend that you take a good look at the above options and always keep in mind that borrowing also costs money.

Leave a Reply

Your email address will not be published. Required fields are marked *