Fast Loans – No commissions or interests

Getting a loan sometimes is a difficult task especially if our income is not very high or if our job is not with a fixed contract.

Free Loans without Interest

But it is more difficult to find a credit instantly and without paying interest or commissions but the million dollar question:

Is it possible to get Instant Credits without paying interest?

Information you will find here:

  • 1 Is it possible to get Instant Credits without paying interest?
  • 2 Documents needed to request a Free Credit without Commissions
  • 3 Requirements to Comply to obtain MIniLoans Free
  • 4 Advantages and Disadvantages of the Free Loans
  • 5 What happens if you do not pay a free loan?

So at first glance, the logical answer will be negative. No one will lend their money without receiving compensation in return. Neither private lenders nor banks and financiers.

So why do we find ads and free loan advertising without interest ?
In some cases, the reason is that they do not receive interest but if they charge a one-time commission that entails a higher cost than if we paid the corresponding interest. This type of operations usually only occur in Free Fast Mini-credits that grant small amounts to return in the short term. The most general expiration at 30 days.
The same happens in the case of banks when they make a payroll advance . They do not charge interest but they receive a commission and the cancellation of the advance loan coincides with the collection of the payroll or pension.
In both cases it can not be considered that they have granted us a free Credit without interest or commissions since they have charged us for some of the concepts.
However, if there are online financial companies that offer zero interests and no commissions. Sometimes, in order to promote their brand and make themselves known in the market, they announce a first free operation as a hook to pay in 30 days and start charging in successive operations. Generally in these cases Free Fast Microcredits of 300 Euros maximum are granted.

Documents needed to request a Free Credit without Commissions

The documents that we have to present if we request a Loan Without interests or commissions are the same ones that are used for the rest of the Financing Transactions and among the most important ones we quote:
– Photocopy of the DNI in the case of Spaniards or Resident Card if you are a foreigner living in Spain.
– Proof of income that can be payroll, pension, rent and rents, aid, unemployment, etc.
– Bank movements at least 6 months to demonstrate our income and expenses.
– Contract of work and working life especially if the work contract is temporary.
Although the credit granted is without commissions or interest , we must demonstrate to the financial institution that we can meet the payment at the agreed maturity and not only to fulfill our commitment to the lender but also for the damages that the non-payment could cause us to be included in records of defaulters and close the doors ourselves for future requests for money.

Requirements to Comply to obtain MIniLoans Free

Not all companies ask for the same requirements or meet certain conditions to grant Free Loans without charging interest or commissions . But if they tend to be coincident in almost all online financial:
– Free Credits are granted only to new customers . As mentioned above, the fact of offering free money is motivated by commercial reasons to attract customers and to be known in the market and therefore, they are willing to grant loans at zero interest in the first transaction. If the applicant has already obtained another loan, he or she would have to look for another company or a different financial company where they do not have their data registered.
– Another essential requirement is to be a resident in Spain that will be justified by presenting the current ID or the Resident Card. Expired documents are not accepted.
– Have monthly or other periodic income sufficient to be able to return the borrowed money. It is not essential that the income be payroll to get the free credit since it serves another form of income provided it is demonstrable.
– Not appear in lists of defaulters and especially not appear in the Asnef registry. However it is also possible to get free Loans while at Asnef . In our linked page we explain you extensively the Credits with Asnef.

Advantages and Disadvantages of the Free Loans

When money is needed , the most demanded products are the Free Quick Mini-loans , the Credit Cards , the Payroll Advance and, if it is a larger amount, the Personal Loans .
Each of the alternatives has its advantages and disadvantages:
– Being Free Fast Credits , the main advantage is that we only have to return the borrowed money at the agreed maturity. That is, you ask for 300 euros and a month you return the 300 euros.
– Another great advantage of Microcredits is that they are granted without too much paperwork and with few documents. They are searched on the Internet as Quick Loans without paperwork .
– It is not necessary to present other guarantors or guarantors. It is enough with the solvency of the applicant demonstrating recurring income. They are Minicréditos Without payroll and without endorsement
– In case of not being able to pay at maturity, it is sometimes possible to request an extension. When you can not pay, it is always advisable to inform the finance company and negotiate a deferment.
– They can be ordered even without a salary or pension. These companies admit other types of income such as grants, unemployment, rents, rents, etc.
Among the disadvantages we can mention that the return period is very short so we must take into account our possibilities of returning the money to avoid major problems.
Another disadvantage is the high cost of interest that successive operations have, obviously without taking into account the case of the first operation when it is free.

What happens if you do not pay a free loan?

The fact that they grant us a Free Credit without paying interest or commissions does not mean that we do not have to pay back the borrowed money. Upon receipt of the funds, as in all credits, a contract is signed specifying the conditions to be met by both parties, including those relating to possible defaults:
– Interest in delay . As we have indicated, the loan is free and does not have interest but they will charge quite expensive interest in case of not paying at the expiration.
– At the same time, if we do not pay, they will include us in the RAI and Asnef Loan Registries , which may be more serious since we will close our own doors to ask for money again because the banks deny any operation with Asnef.
– The contract also specifies that they would charge a commission for each payment claim they send us. And the corresponding expenses if they claim the debt through the courts.

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