Sometimes wages can feel too far away, and especially if you have sudden expenses that need to be extinguished. If for some reason you are in need of money right now and are well aware that you have a good enough finances to pay back the money, it can benefit one to take out a loan. Depending on the type of loan you choose, you can then choose to use the money for whatever you want as long as you repay within the repayment period. Cheap loans are closer than you might think, and below we will talk more about what is good to think about before submitting an application for a loan.
Should I borrow from the bank or online?
The biggest reason why many of us Swedes still borrow money through the bank is precisely because interest rates are quite low. Unfortunately, however, these loans come with rather high demands on income, a long loan process, long waiting times and less freedom regarding what you can use the borrowed money for. If you instead apply to a lender online, you can usually be sure of getting a very short loan process and getting your money paid out sometimes the same day the application was submitted.
In addition, private loans taken from online lenders can in principle always be used for exactly what you want. The lender does not go into what the money goes to, but it is entirely up to one to decide. The slightly higher interest rates can therefore be well worth the trouble given the many benefits you get from online loans.
Do I have permission to take out a loan?
There are various requirements that must be met in order to be allowed to take out a loan, but as previously mentioned, these requirements are often not very stringent if you borrow from a lender online. They may vary slightly from lender to lender, but some common examples are that you must be at least 18 years of age to get a loan, have a fixed income, be registered in Sweden and not be stuck with enforcement authority. It is not impossible to find lenders who lend money to one even though you have payment remarks, but this should be avoided. If you already have a payment note, it is better to pay off your debts before taking on a new loan.
How do I find the best loan?
The FairBanker comparison service makes it really easy to find a loan that fits one. They compare a wide range of lenders and list the very best so that you can quickly get an easy digest of the best lenders in the market. From there, all you have to do is click on the lender that suits your individual needs and apply for a loan. Most lenders are exceptionally quick to respond to one’s application, so the amount borrowed is not far away if you apply immediately.