What is the quick loan?
Quick loan or SMS loan is a loan which is fast and easy to obtain and is usually accompanied by very high credit cost. MoneyZen does not offer quick loans. Read more...
Compared to consumer loan quick loan usually provided for a very short repayment period, varying from few days to two months. Many quick loan providers offer the first loan cheaply or free of charge. Nevertheless, quick and SMS loans are charaterized by unreasonably high interest rates, contract fees, penalties and other overdue charges. Falling behind on loan repayments triggers a very expensive debt management procedure as a result of which the initial loan amount may increase fewfold.
This is the reason why we suggest to avoid obtaining quick loans. Apply to MoneyZen’s small loan instead. Each loan is a financial obligation that must be repaid. Consider the loan terms carefully. As a result of loan repayment default your loan debt might increase due to reminder fees and other costs associated with the debt collection process.
Advantages of MoneyZen Small Loan
- Reasonable interest rate
- Borrow up to €10 000
- Loan period up to 7 years
Recommendations before applying for a loan
- Consider carefully if you really need a loan and in which amount Why?
- Investigate and compare the terms of several loan providers Why?
- All your loan repayments should not exceed 33 percent of your total monthly income Why?
- Make sure that you have considered all additional terms and costs Why?