Are you looking for an interest-free loan? Then you have found the right place! We at quick money can help you find an interest free loan.
Through this page you can find an interest-free loan and sms loan where you can borrow interest-free. We’re on quick money lists interest-free loans and compares them.
The most common interest-free period is 30 days. After this period, the loan costs the usual price. Keep in mind that the length of the interest-free period may vary and that additional fees may apply in case of non-repayment. Here you can read more about sms loans.
Borrowing money without interest
Borrowing money without interest – We help you find the right in the loan jungle when you want to borrow money without interest. The there are many players out there in the market so it can be nice to have someone who can point one in the right direction. Compare rates on various loans directly on our website. Quick money can be your lantern in the deep jungle of the loan jungle. You can always contact customer service via chat if you want personalized advice.
Good Finance offers a capital loan with an interest-free period for 30 days with a monthly interest rate of 9.45%. The effective interest rate is stated at about 200%. No extra fees apply. The annual interest rate is 113.5%. For example, a loan of USD 10,000 from Good Finance costs 945 without the interest-free offer in pure interest cost the first month.
What do you earn on an interest-free loan?
This is based on Good Finance’s interest rate stated above and with a maturity of more than 12 months. If you instead choose a bank that does not offer interest-free loans but a lower annual interest rate, for example Modus Finans, you would have instead had to pay USD 183 interest after the first 30 days. This is calculated with a maximum annual interest rate of 22%.
Modus Finance’s setup fee of USD 595 is added to it and the notification fee of USD 19 / month. The effective interest rate will thus be 37.2%.
It is almost exclusively small loans such as micro loans (micro loans) and sm loans that are offered without interest. We list several different lenders that grant this type of loan. There are also slightly larger private lenders offering slightly larger amounts, though not entirely interest-free. However, some of these offer interest-free months. This means that you can “pause” your payments and make them interest-free. We have lenders who offer 2 optional interest-free months per year.
Loans without interest
Loans without interest – How can a lender make money by offering an interest-free loan? It may seem unprofitable for the loan institution to offer an interest-free loan. For a person who lends it can at the same time seem like an offer that you do not want to refuse. If it sounds too good to be true then it is probably not true. The idea of an interest-free loan is that you should be able to take a sms loan interest-free, but there is often a back side. There may be several reasons why the lending institution offers to be able to lend money in an interest-free loan. In part, the company wants more borrowers, which they succeed with in these advantageous offers, and in part they want to make more money.
Read through the terms of an interest-free and you will soon see that there are very likely conditions that are not entirely advantageous for the borrower. Interest-free loans are not necessarily the same as free loans. Although they are often called so. There may be additional hidden costs associated with an interest-free loan . Avi fees, delay fees and setup fees are some costs that are often added to an interest-free loan.
Lenders offering loans without interest, coldly expect some to miss their payments and therefore have to pay some reminder fees or even extend the loan at a cost. Be extra careful about paying on time when you take out a loan without interest. Otherwise, you might not get cheaper at all than it might have been from the beginning.