You need money, you want to borrow and all the more reason you are looking for the best offer, so this is a personal payday loan at the best rate you need! Here are some criteria for getting the best personal payday loan offer, but first of all, what is a good loan? and is the best rate a guarantee of having the best personal payday loan?
Variation of the best rate personal payday loan
1 ° / Is personal payday loan the right product?
If you want to buy a vehicle, do some work or reduce the monthly payments on your current loans, the car loan, the work loan and the loan buy-back respectively are more suitable products and will offer you more guarantees. We advise you to choose the right loan to suit your needs. Again thanks to our credit comparison tool, you will be able to obtain the best car loan, work or buyout rate.
2 ° / What is a good personal payday loan?
A good personal payday loan at the best rate will be above all a loan that you can repay without too much difficulty and that will not give you a difficult end of month. You will therefore have to evaluate the monthly payment of the credit which will be compatible with your income and your current expenses to make sure of our steps that you end up in the red every month. To be sure, it is customary to calculate your debt ratio. It’s calculations will be done by the credit agencies when you fill out your online credit application.
A personal payday loan at the best rate is also a loan that offers you certain guarantees if you encounter life incidents, such as unemployment, a work accident or a death. To protect yourself from these possible incidents, you can take out borrower insurance alongside the personal payday loan. The cost of borrower insurance will be monthly and added to your credit monthly payment and may therefore affect the total cost of personal credit.
3 ° / How to get a personal payday loan at the best rate
Once the questions mentioned in the previous paragraph have been dealt with, you can then start looking for the personal payday loan at the best rate. ie the best APR. The APR (Annual Effective Total Rate) is indeed the benchmark indicator for comparing different personal payday loan offers. It is the legislation which imposes on all credit organizations this reference rate which includes all the costs linked to the credit (nominal loan rate, application fees) and that it must be mentioned during any loan proposal. Note that this legislation also applies to the whole range of consumer loans.
The best personal payday loan rate will depend on the type of loan, the amount requested and the duration or monthly payment desired. Of course, it will also depend heavily on the credit agencies you consult.
To answer this problem and for you to find the personal payday loan at the best rate, Bankate has developed a credit comparator, so COMPARE!
But we have not developed any personal payday loan comparator at the best rate. Not only will you get the ranking of the 3 best custom loans based on the information you have filled in, but you will also be more likely to actually get the best personal payday loan rate.
In fact, once you have completed our questionnaire (and once and for all, you no longer have to go and complete your questionnaire everywhere) you will be able to question the 3 cheapest proposals to find out whether the organization is ready to accept you and whether maintains its rate compared to your personalized information. To do this, you will need to carefully read the prior credit offers that you will receive and pay close attention to the taeg rate mentioned.
Remember that this step is not binding since the credit will only be committed with the organization to which you will choose to return your file in a second step. The first step that we offer is not engaging but it is decisive to go around the market and have the best personal payday loan rates.
4 ° / Obtain an agreement for a personal payday loan at the best rate
To obtain the personal payday loan at the best rate, it is certainly necessary to obtain the best rate but it is above all necessary to be accepted otherwise no project can be carried out. For this, the credit organization will study your risk profile and accept or not your request for personal credit at the best rate. To be sure you can do this, we advise you to file several requests with one click from the best-placed credit organizations, which will allow you to multiply the chances of being accepted. Because in reality the objective is to obtain the loan at the best rate compared to your profile.
Compare the personal payday loan at the best rate, is it really useful?
Obviously, what is interesting is to be aware of the sums involved. No one likes to pay more for a product. What is more for a personal payday loan at the best rate since the only important thing in consumer credit is the rate.
Take the example of a 5000 USD credit for the 60 months. A very common small loan.
Least expensive rate: 5.50% monthly payment: 95.20 USD cost of credit: 712.00 USD
Most expensive rate: 14.57% monthly payment: 115.51 USD cost of credit: 1930.60 USD
Do you realize ? More than 1000 USD more for a credit of 5000 USD , difference between the personal payday loan at the best rate and the most expensive !!!
And the most expensive is not a small, well-hidden organism. If it is not the best known of the credit organizations, it must be the second. You can see it every day on TV!
At the time when we carried out this survey, November 2014, we welcome the performance of Prêt d’union which offered the cheapest offer. But in terms of credit, the rates are very variable. So don’t forget to compare to get the personal payday loan at the best rate.
On the other hand, do not trust all the credit comparators as we will explain to you in the next paragraph.
Beware of personal credit comparators at the best rate
You probably don’t know it, but not all comparators have the same comparison criteria. Besides, we don’t know those of our competitors, yet they know ours.
At Bankate, an independent comparator, we have nothing to hide. To establish our comparison and offer you the personal payday loan at the best rate, our comparison criterion is …… .the rate !! Obviously!
Most of our competitors don’t care about the rate, what matters to them is the commission they will receive. The ranking of the personal payday loan at the best rate is based on the money they will receive and not at all on the rate. Besides, to not be fooled, it’s very simple, you just have to look if you see a rate or not on their ranking. If there is none, there is no way they will help you find the best personal payday loan rate!