Payday loan: realize your dreams and projects!
Whatever your projects, you can achieve them thanks to the personal loan! Do you need money to renovate or redecorate your home? You wish to be able to finance the studies of your children? You have desires elsewhere and would not say no to one or the other trip to the end of the world? You do not have sufficient funds or do not want to touch your savings? Personal loan is the solution!
And who better than Zefadit for your personal loan? To take out a loan or personal loan through Zefadit is the possibility to enjoy the following benefits:
- Borrow at fixed interest rate
- No need for justification of use of borrowed money
- The assurance of benefiting from the best market rates
- The freedom to choose the repayment term
- Unlocking money within 48 hours
Payday loan, what is it?
The payday loan, also called personal loan, installment loan or installment loan, is in fact a consumer credit, in the same way as the installment sale, the leasing, the opening of credit, the credit-bridge or the ease of discovery.
Consumer credit: definition
Before going into the heart of the matter, it is necessary to define what is a credit (or loan) for consumption…
The FPS Economy defines consumer credit as follows: “a consumer credit is a credit granted to a consumer to buy a piece of furniture (eg a car, a television, etc.), to buy a service (eg. organizing a marriage) or to fund private needs (eg paying taxes) “.
The term “consumer” is used, always according to the FPS Economy, any “natural person who lives habitually in Belgium and acts mainly for a private purpose. ”
The peculiarity of the payday loan
While there are many consumer loans, the personal loan has a special feature. The personal loan is actually called “unassigned”. This term means that it is not necessary to specify the destination of the sums borrowed, as it is the case of the appropriations allocated. It does not necessarily serve to finance a specific good or service.
Through the personal loan, a set amount of money is made available to the borrower, usable amount at any time and thanks to which it is possible for him to achieve the purchase (s) of his choice.
As part of a personal loan, the lump sum, as well as the repayment period and the amount of fixed monthly payments is defined in advance. So there is no question of unpleasant surprises. The monthly payments can legally extend over a period ranging from 12 months (1 year) to 84 months (7 years).
Since the amounts borrowed through a personal loan are generally not exorbitant, it is not necessary to mount very large files to obtain it. Another advantage: the borrower has the opportunity to pay his personal credit in advance without penalties being applied to him.
However, it should be noted that, since it is not earmarked for any particular expenditure, this credit is not grafted with insurance. In other words, if for any reason X or Y, the good or service for which the personal loan was requested is not delivered or realized, if it is defective or if it is not do not answer what was agreed, monthly payments, like interest, you will still be due.