At once or in two installments
In the case of payday pay, we must return it once, i.e. make the payment in full within a strictly specified period. This means that we have up to two months of peace, but in the end we will have to give back a large sum. With unreasonable planning of expenses, suddenly on the eve of repayment may turn out that we do not have the right amount. Although we can use the option to extend payday pay, it increases our debt. We can also reach for a payday loan for 60 days from Viloan Bank or its agents, which also divides into two installments payable monthly, but the offer is available to regular customers and requires a loan of at least PLN 400. When deciding on an installment loan, we have the comfort that it is divided into two smaller parts, each of which is payable every 30 days. Thanks to lower amounts, it is easier for us to plan the household budget for the loan repayment period.
First payday for free
Another difference between a 60-day payday loan and a two-month installment loan is that the first one can be granted for free. This offer is only available to new customers, i.e. people who have not previously used the services of a given non-bank company and this will be their first loan. Instantaneous cash for free consists in the fact that if you manage to give the money back within the period specified in the contract, then the lender will not charge us interest or commission for granting the loan. In this way we will refund as much as we borrowed and not a penny more. There is no such option for installment loans. Regardless of whether we take the payday service for the first time or whether we belong to the group of regular customers of a given brand, we must take into account the appropriate fees. We will get a loan for 60 days for free in CreditKoi. Also Zengga will give us 2 months to return the payday payday, but it will cost us. However, we will not spend a lot, just PLN 10, but only if we are a new customer and we borrow no more than PLN 750.
Installment loan for any amount
The advantage of installment loans over payday loans is that we can apply for the maximum amount that is available from the lender at the first application. For a payday payday of 60 days, the first commitment is usually limited to a certain amount. Looking at e.g. the new brand porfel, we can apply for up to 3000 the first time.