Types of loans without payroll in the market.
Any type of credit can be a loan without payroll as long as they consider that our income is valid to be able to repay them without problems since if we have the sufficient level of solvency, there will be no problem in obtaining any credit. Here are some of the non-payroll loans that we can go to if we need financing:
Small-credits without payroll
Small-credits without payroll: with this type of express financing we can access up to 1,000 USD in a repayment period of around 90 days. We can request them through the Internet, usually from private financial entities, although some banks also offer them. Their interests oscillate around 1.1% daily, they do not have additional commissions, nor do they require the contracting of related products, nor is it necessary to change banks and early amortization is free. The repayment of the mini loans without payroll is made in a single payment with a maximum term of 30 days, although more and more companies are allowing us to do it in 2 or 3 months.
Payroll personal loans: these are loans that we can request from both private financial entities and banks. They allow us to access an amount that can range from 1,000 to 90,000 USD, in accordance with our economic profile and with the entity that grants loans without payroll. Their interests are generally between 6 and 12%, although according to the Bank of Spain these loans have an average interest of 8% APR. Also, these quick loans can include commissions and linked products. The maximum amount that we can access will depend on our monthly income and the risk policy of each entity.
Home reform or pay for higher education
Consumer credits: are granted by department stores to finance their products and services. These are quick credits that we can request at the time of purchase in order to pay for the products we buy in convenient monthly installments. The goal of department stores is to sell products, so their interests are quite attractive. Instead of transferring the money to our account, they will give us the product that we want to finance and we will pay it in comfortable monthly installments.
Credit cards: although banks are the ones that issue credit cards, we can also request them if we do not have a payroll. The maximum fast money limit with credit cards will vary according to the entity and our profile, although they usually vary between 600 and 10,000 USD. If we use credit cards and make full payments at the beginning of the following month, we will not pay any interest. On the other hand, if we choose the installment payment in several installments, the interest that will apply to us will range between 10 and 29% APR.
Comparing and knowing the different characteristics that the different ways of obtaining a credit without payroll can offer us will allow us to get the offer that best suits our credit needs. In this way, if what we need is to obtain financing of large amounts of capital, for example, to carry out the purchase of a car, a home reform or pay for higher education, personal loans are probably the best option. to which we can turn.