Loans without interest myth or reality?

They are the loans without interests. Something that can be utopian but that really exists.

 Characteristics of interest-free loans

These interest-free loans are offered by companies that are not banks, but usually work with banks. At least that’s what they argue in their products conditioned. We will be honest. This type of loans sound beautiful: they are requested online, the money is paid to us the same day, there are no interests or commissions and you only have to be a mobile phone holder. We are not going to cheat you. Maybe there’s a trick, but we do not know where it is. Although we promise to continue investigating.

Characteristics of interest-free loans

Our company is one of the provider that offer interest-free loans. You can order between 50 and 500 euros and the money will be in our account in a maximum period of 15 minutes. As the main guarantee they assure that they have an agreement with all the banks. The return period will be between 7 and 30 days.

Loan providers offers network loans of up to 300 euros. The process, they say in advertising, will not last more than five minutes and can be requested by people between 18 and 70 years.

Other providers also has interest-free loans among its offer. In this case you can request between 30 and 400 euros, the time to return it, at the consumer’s choice, it can be 7, 14, 21 or 30 days and it is a credit that can be requested from 21 to 65 years.

In all three cases there is a common characteristic, and that is that only people who are not clients can benefit from this type of credit. That is, all those who have never requested a loan in that same company. This feature is one of the main weapons that these websites use to try to show that “there is no trick” and that they do get a benefit. The gain would be to obtain new clients that, who knows, may request in the future other types of loans of those that do have a direct credit for the lender company.

Therefore, to the question of the owner, we would respond: Loans without interest ? Reality. But beware of the fine print.

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