There are some lenders who allow their customers fast loans without interest. This usually applies to new customers and can be seen as a type of welcome offer.
Offering interest-free quick loans is the lender’s way of attracting you as a customer. They want to get you to take out the loan with them and not anyone else. Many lenders today are very similar and offer fast loan applications. They all have a similar interest rate and quick payout. Many also offer a fast loan without UC.
Competition is fierce and offering interest-free loans has become a way of getting customers to choose a specific lender. If you are looking to take a quick loan for a short period of time, a quick loan without interest may be something for you.
How To Get Free Fast Loans
Many of the lenders charge a setup fee. But there are lenders who offer the first loan at no extra charge. The loan will then be both interest-free and free of fees. In other words, the loan stays free as long as you repay it within the term.
Usually, the lender offers a maturity of 14 to 30 days. If you choose to extend the loan, you will have to pay interest and often an extension fee. Other fees such as newspaper fees can also be added. You should therefore carefully review the terms before extending a loan.
There are always risks of taking quick loans without interest. The biggest risk is that you end up in a situation where you need to take more loans to repay the previous loans.
Taking a quick loan on occasional occasions in emergency financial situations is no danger. But you should let it stay there and not borrow to pay back loans or other debts. If the money is not enough at the end of the month, you will need to restructure your finances to meet your expenses. You can get help from the municipality’s debt adviser.
Borrow interest-free for 30 days
Some loans are interest-free for the first 14 days, but there are also loans that are interest-free for 30 days. This means that you can borrow for free for up to one month. This applies as long as there is no set-up fee or other fees.
If you need money quickly and are aware that you will be able to repay the loan within the set time, an interest-free quick loan can be an option. Then you can borrow money quickly and only need to repay the exact amount you borrowed.
Keep in mind that you may pay interest if you exceed the term. You have to keep track of when you have to repay the loan. Extending the loan a failure to pay it can result in expensive costs and payment remarks.
Keep the loan as short as possible and pay back as soon as you can. If you have the opportunity to repay it before the maturity has passed, this is a good option.
Terms for interest-free quick loans
The conditions for applying for a fast loan without interest are often unchanged against other loans. It is usually the standard requirements that apply.
These are that you need to be at least 18 years old but some lenders have a higher age limit. You need to have a reasonable income in relation to the loan amount and not have too many or too large payment notes and that you are registered in Sweden.
As for the terms more specifically, you must read about it on the lender’s website. Everyone has different requirements and terms and it is always important to read through it carefully before deciding if you want to apply for a loan. Lenders’ fees may differ.
It is also unnecessary to apply to a lender where you do not meet the requirements. Then you get unnecessary blows at UC or another credit information company.