The big advantage is that the first payday loan is free, so you can try the service without any burden on your budget. You can choose maturity from 1 to 30 days , again with the possibility of extension. The payday loan is extended by its original maturity when paying the minimum installment, when the maturity is 30 days, the next maturity will be 30 days. You can post maturity repeatedly in one year without restrictions.
You will usually receive money for your account on the same day if you have an account with a large bank, otherwise it is until the next business day.
Who can borrow? What do I need for this?
To obtain a payday loan you will need to have a permanent residence in the Czech Republic, at least 18 years of age, a bank account in your name. Upon request, the company will require two or two documents, such as identity cards, passports or driving licenses, to be scanned. To verify your bank account, you will need to send one crown to your company account, which is also the only fee associated with the payday loan. However, the fee is only sent on the first application.
Do I have to be employed? Does the registry of debtors matter?
You don’t have to be an employee to get a payday loan. checks registers, but even a negative record may not be an obstacle to obtaining a payday loan. Nor is a payday loan from another company a problem in obtaining a payday loan.
How is the payday loan repaid?
Repayment is a very simple matter. You will log in to your client account and choose the bank where you have an account, then you will be redirected to the bank with a pre-filled payment order, so it is a few minutes.
ayday loan Features
The first FREE payday loan
payday loan amount: 1000 – 20 000 CZK
Maturity: 30 days with the possibility of an additional 30 days
The first payday loan is free , if you repay it within 14 days. charges 33 crowns a month for each borrowed thousand dollar. The maturity of the payday loan is normally 30 days with the possibility of extension. When extending it is sufficient to pay 10% of the principal (I have lent 2000 crowns, the principal is 200 crowns) and the fee of 49 crowns for each borrowed thousand crowns and will automatically extend the maturity of 30 days. In this way it is possible to extend the maturity of up to 10x , so you can repay up to 10 months.
If you do not get the money and you will not be able to send 10% of the principal, it is possible to send a single crown, or a higher amount and the payday loan is automatically extended by one month, then a fee of 79 crowns for each borrowed thousand crowns. Alternatively, it is possible to arrange a payment schedule.
It has no arbitration clause in the contract, so you can be sure that in the event of a dispute your dispute will be assessed objectively and in accordance with applicable law.
Big payday loan
Also provides a Big payday loan , a payday loan that is not a classic payday payday loan (a smaller amount and a short maturity). As part of a large payday loan, you can borrow up to CZK 200,000 with a maturity of up to 96 months . The annual interest rate starts at 7.8% .
Additional services with payday loan
SMS service – for 49 crowns you will be informed of the upcoming maturity, payment acceptance etc.
Express payout – you will receive money for a bank account for CZK 199 within 60 minutes
Safe installment – you can defer the installment twice for a further 30 days for 199 crowns
Crown deferral – send one crown and installment will be extended by 30 days for a fee of 79 crowns for each thousandth crown borrowed
Newly, allows you to pick up a payday loan at terminals operators, so you don’t need your own bank account. You can have your payday loan money within one minute. Terminals find more than 4000. Overview of places where you can collect money here . The service is subject to a one-off fee of CZK 249.
Experience how to borrow
Completing the application will not take more than 5 minutes and it is very easy to process. To successfully complete the payday loan application, you will need an ID card, bank account, and mobile phone.
Features of payday loan
The first FREE payday loan
payday loan amount: 1000 – 20 000 CZK, Large payday loan up to 200 000 CZK
Maturity: 30 days with the possibility of extending up to 300, Large payday loan up to 96 months
Method of payment: transfer to bank account, at terminals operators
In the winter before Christmas, it is common for the demand for payday loans to increase, so that people are able to cover the cost of Christmas preparations, decorations and gifts. Christmas is considered a magical time, but it is associated with many hour-long preparations and gift purchases. That’s why many people are a time they can’t overcome without financial help. But if you’re trying to find out if your payday loan is worth it, you shouldn’t just look at the interest rate.
And now we can move on to things that need to be checked before applying for a payday loan:
1. You really need it
According to the financial portal, there is a surprising number of people asking for a payday loan without needing it. Either they receive the offer by email or see the ad, and are already wondering what they could use for the money. On the contrary, the initiative and the request should always come from people and only when necessary.
2. What is the provider’s reputation?
When comparing different offers, focus on where they are from. Browse his website to find out what people are saying about him in reviews. If you want to be sure of its credibility, see the Czech National Bank’s online database to see if it has a valid license.
3. Will you be able to repay?
Many people automatically assume that they will be able to repay the payday loan without any problems. But the responsible consumer should create a budget and see how much he has left after deducting his expenses. This is the maximum monthly payment. Only in this way will you find out whether the payday loan repayment will be comfortable for you or if there are unpredictable problems.
4. What are the real costs of the payday loan?
When trying to uncover the true cost of a payday loan, don’t just look at the interest rate. You should consider additional charges, but also benefits. The universal tool for comparing the advantage of payday loans is the APRC. Includes interest rate and all other charges. For example, early repayment of a payday loan with no fees or the possibility of extending its maturity when one month’s installment fails can be advantages.
5. What happens if you can’t pay back?
While this is an unpleasant idea, you should also take into account that due to an unexpected situation you will not be able to repay the payday loan. If this happens, it will be better to know what awaits you and what you can do. You will be charged a delay and interest charge for each day in arrears. These terms must always be mentioned in the contract. That is why it is always worthwhile to read the contract for a time with the choice of payday loan. You can avoid execution or personal bankruptcy.