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.
How to get a loan with a monthly payment
To receive a loan with a monthly payment, you must go to the main page of a suitable microfinance organization. On the website you need to select the loan term and amount and click “Get money”. The first loan is usually interest-free. After this, you will need to fill out a short form where you need to indicate your full name, passport details, phone number and email. There is no need to provide proof of income or other documents. After this, you can submit a loan application. As a rule, processing applications takes no more than 10-15 minutes. The client will receive a positive decision via SMS message. After this, the money will be transferred to a personal bank card, bank account or e-wallet.
Advantages and disadvantages
Advantages of loans with monthly payment:
Convenient loan term. Repaying the loan in monthly payments is more profitable for the client, since he is more likely to have time to repay the debt. For loans with a maturity of 30 days or less, you may not have time to pay off
Large loan amount. The borrower can expect an amount from $30 thousand to $100 thousand or more with this type of loan
Receive money quickly compared to banks. The loan application will be reviewed in a short time, so you can get money urgently
You do not need to provide proof of income or have an official place of work. Any citizen of the Russian Federation over the age of 18 can receive money. The borrower may have an unofficial job or part-time job, but in any case he will receive the loan
Possibility to get a loan at any time. The microfinance organization operates around the clock, seven days a week and holidays, so the borrower can receive money at any convenient time
Improving your credit history. If you take out loans regularly and repay them without delay, your credit history will improve.
Disadvantages of loans with monthly payments:
High interest rate. Interest is accrued for each day the loan is used
Penalties for failure to repay the loan. Missing a payment may result in a penalty. It is calculated individually
Inability to obtain insurance. This rule applies to some microfinance organizations. If you want to take out insurance in case of illness or disability, then find out if this is possible with the company you are interested in