The first loan is free on the card

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The microcredit company VAYVND issues microloans to individuals online and in branches.
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.
Creditify is a service for issuing urgent online loans to a bank card. You can take out a loan on a card from this company for various purposes. Income certificates and guarantors are not required.

What is a free loan


The standard interest rate for microloans is 0.8% per day. But you can often come across an offer to get your first loan for free. That is, the borrower needs to return exactly the same amount.

Preferential conditions apply to new clients who have contacted this company for the first time and have not previously cooperated with it. This is checked using passport data. You can get an interest-free microloan for up to $30,000 for a period of no more than 30 days.

If the client does not return the money within the specified period, interest is accrued for the entire past period. Plus, for late payments, the MFO charges a penalty for each day until the obligations are fulfilled.

Why do microfinance organizations issue the first loan for free?


A free loan on a bank card is issued to attract a client. The high level of competition forces IFC and MCC to come up with various marketing tactics in order to stand out and win over the audience. Therefore, the company is ready to lose profit in the hope of further cooperation with each borrower.

This promotion is doubly beneficial for the client. You can get money for the first time for free and learn from the inside how the service works. Personal experience will allow you to evaluate the work of the company, the convenience of obtaining and repaying a loan, the functions of your personal account, the speed and availability of the service.

  • How to take out a loan for the first time
  • Select from the list of microfinance organizations in which the promotion is valid
  • Register on the website or mobile application using your phone number
  • Fill out the form, indicate personal information and passport details
  • Pass photo or video identification
  • Specify the desired parameters by amount, term, method of payment
  • Submit an application for consideration
  • Get a response from the MFO
  • Sign the digital agreement with the code from the notification, read the document first
  • Wait for the money to be credited to your card or account

A quick loan of money from a microfinance organization is a good way to urgently solve a problem. You can use the service completely online without leaving your home. Applications are accepted around the clock. Money is credited to the card instantly, it can be withdrawn from an ATM, made a transfer or a non-cash payment.

To take out a microloan without refusal at 0%, it is important to follow simple rules:

  • The debt burden indicator must be within normal limits, no more than 50%
  • Current delinquencies will not be allowed.
  • The form must be filled out carefully and accurately, without errors or embellishment.
  • It is not recommended to immediately request the maximum amount and term
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