A short-term loan may come in handy before a payday when an appliance is angry with us or when we have to pay a deposit for a new rental. In many cases these loans do not solve anything, because after 30 days we have to refund the whole amount, so we will miss it again.
Anyone who drew this service knows it’s true. An interesting alternative is a loan for one year, which does not burden us with monthly repayment and therefore we will have money for running the household.
Loan 10,000 USD per year
Pensioners, mothers on maternity leave and / or students usually cannot afford long-term borrowing because the provider immediately refuses it because of low income.
However, if the amount is up to USD 10,000, it is no problem to ask for money directly. After all, the monthly payment will not exceed USD 1,000, which is not a great burden for the mother on maternity or disability pensioner.
Non-bank loan for up to USD 300,000 per year
You need a large sum of hundreds of thousands, but you don’t want to repay it for several years? Borrow 300,000 dollars for 12 months. Although the monthly payment will be high, the subsequent payment of the entire amount will only take a year.
Beware, this loan is definitely not for everyone, but only for those who have a sufficiently large and stable income. They can be entrepreneurs who use money for an investment opportunity or a manager of a well-paid company who intends to reconstruct an apartment.
Loan for the year – Caution first
If you are considering any loan or loan, do not rush the process too much. It is no harm to consult your family or friends. Visit your bank first and then look for a non-bank loan. Never sign anything that you are not familiar with.
If you are unclear about the loan agreement, don’t be afraid to contact independent consultants who will be happy to advise you free of charge. Interesting tips from the world of finance can be found on the financial portal.
Benefits of loans for the year
- the possibility of monthly payments
- no hidden cartoons
- free early repayment
- lower load
Disadvantages of loans for the year
- the loan only to bank account
- monthly payment may jeopardize the operation of the household
- problem with job loss