The microcredit company FinaGuru issues short-term and long-term online loans to individuals. The organization does not have a branch network; it operates remotely via the Internet.
Creditnice is a microfinance company operating since 2013. It specializes in loans with online processing, including to pay for purchases from partners; it also issues virtual credit cards and provides credit lines.
Can MFOs issue loans without commission?
A commission is a fee for a service. Interest is charged for using a microloan; there are no other fees for receiving borrowed money. According to current laws, a lender cannot impose additional paid services on a client. The choice must be voluntary. MFOs issue loans without commission at a set percentage. The maximum rate is 1% per day.
Often, a company, along with a microloan, offers various services for which you need to pay. The client has the right to refuse them. This applies to the following services:
- Insurance
- SMS notification
- Legal consultation
- Telemedicine
- Emergency commissioner
Attempts to include hidden fees in the contract for the services listed below are a direct violation of the law and a reason to file a complaint with the financial ombudsman:
- Consideration of the application
- Issuing a loan in cash or on a card
- Making a payment to pay off a debt (at least one option must be free)
- Early closure of the contract
- Bank card verification
- Credit history analysis
Important! The client’s refusal to pay for paid services should not influence the decision to issue a loan. Any services are connected only at the request of the borrower. In addition, the lender must provide detailed information about their terms and conditions.