With a growth of 0.4% in 2017, the personal payday loan is the most requested financing product by the French in institutions specializing in consumer loans. Here are some tips for understanding this category of consumer credit. http://gaoodgle.com/payday-loan-helpers-request-a-payday-loan-help-debt-consolidation/ has more notes
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Accounting for 33% of the credits conso delivered in France, the personal payday loan is very popular because it allows an individual to obtain a credit without having to give a reason to the lending institution. This personal payday loan is also called “unassigned loan” or “unrestricted credit” because it is not designated as having to cover a specific expense, unlike other consumer loans such as car, motorcycle or work loans.
Concretely, an individual contracting a personal payday loan will have at his disposal a sum ranging from 500 to 75 000 € that he can spend as he wishes. Its reimbursement must be made in constant monthly payments to be paid between 1 and 5 years.
Know current personal payday loan rates and compare them
Like most borrowing rates, interest rates on personal payday loans reached very low levels at the end of 2017. In January 2018, it was thus possible to negotiate an unallocated credit of € 3,000 out of 12 months at a rate of 1%. In the case of a need for a higher sum, a personal payday loan of € 7,000 over 3 years had a minimum interest rate of 2.40%. As for a loan over € 15,000 that we would like to repay in the longer term, over 60 months, its minimum interest rate was only 2.90% in January 2018.
Compare the rates of the personal payday loan
If an individual does not need to give the reason for his expenses when he applies for a personal payday loan, he must still be certain of his solvency. Like all other loans, the personal payday loan is a loan that commits its subscriber, who must repay it under penalty of large risk (registration on the Personal Credits Incident File, legal proceedings). It is therefore a question of not putting oneself in danger with a credit at too expensive a cost. To find the best borrowing rates, the consumer can compare the various credit offers with the annual percentage rate of charge (APR) which is the best comparison standard.