Yes, they are. A simple answer, but of course we need to complete it. Non-bank loans are really safe, but you need to be carefully selected, take note of the noticeable risks, and go through all the terms and conditions of the contractual obligation well.
When assessing the lender, you can write down the positive and negative points for yourself. What is most important? Credibility and reliable background. Pawnshops or suspiciously beneficial loans from an anonymous site can put you in an uncomfortable situation and disadvantageous repayment terms.
The basic is a well-arranged website that lists all the information. For example, good finance helps his clients with an interactive calculator. Simply entering the target amount and the interactive tool will instantly display the specific amount and number of installments. After all, with a possible target amount variable and with real numbers, you can objectively decide how much future repayments will be burdened.by your current budget, and how much is not a major constraint for you.
Of course, the loan is a service and the provider has to work with some profit and risk. If loans are to be readily available to low-income applicants, the unemployed, parents on maternity leave, or, for example, clients registered in the debtors register, the risk of repayment of the loan increases.
However, there is no reason to enrich our clients beyond the scope of services provided. A trusted provider should not claim administrative fees or early repayment penalties.
Current interest rate
Non-bank loans are often associated with a scarecrow in the form of excessive interest. Try to realistically calculate the loan and its interest. You may find that the measured interest will turn into hundreds of crowns. Good finance perfectly balanced high interest rates with speed and availability of services.
Moreover, interest calculated on a relatively small amount borrowed for a short period is not a serious complication. And again, you can compare the outcome of a high interest loan and a lower interest loan, plus the cost of administrative and other charges.
Safe and simple solution
A loan in any form always represents a liability. You should be sure that you are able to repay the loan in full. Consideration of the purpose of the loan is also important. If you need to quickly replace a broken phone, a computer, repair a crashed car, or solve a billing for a service or rental, then you really need to take the appropriate action.
The loan should not deal with the purchase of expensive electronics or luxury gifts, as well as an expensive holiday to an exotic destination is only in place when you can have sufficient financial reserve. If you decide on a loan for serious reasons and verify your provider well, then non-bank loans are the optimal solution to help you avoid major problems.