The personal payday loan without proof is an unrestricted loan, it can finance the purchase of household appliances as well as a honeymoon trip. This type of consumer credit is offered by most credit agencies. A prior credit comparison will allow you to find the most affordable loan rate.
How to choose your personal payday loan without proof? In addition to choosing the credit institution, you will also need to choose the most suitable offer. To get the best loan, opt for the formula that offers the best credit rate and an optimal duration in order to lighten the debt burden as much as possible.
Calculation of the debt ratio
Before taking out a loan, it is imperative to determine your debt ratio beforehand. The latter represents the total of the monthly charges borne by a person, rent, invoice, credit repayment. The law sets a threshold of 33% not to be exceeded. However, credit institutions estimate that a person still has the opportunityto borrow if their debt ratio remains below 50%. It is also the debt ratio that will determine the amount of the loan that can be granted. However, we must remain vigilant because the accumulation of small loans is the main source of household debt. From 60%, there is a real risk of an over-indebtedness situation. Income and expenses must remain balanced.Excessive debt can lead to non-repayment of the credit and generate litigation that can cause a banking ban. Evaluate the costs of the loan carefully,
The choice of the credit institution
Almost all credit organizations offer a consumer credit offer, including personal payday loans. Today, most of the offers are available online. Online banks and traditional banks provide consumers with dedicated websites to inform the public of the products they market. Above all, you have the opportunity to carry out all the procedures exclusively online, without having to travel. However, sorting through these offers is not always easy. Astro Financing collaborates with the best and most serious lending institutions in order to allow you to take out a personal payday loan without proof online in complete security. Our site especially promises you the loan at the best price and at the best conditions.
The choice according to the credit offer
To accept an offer of credit without proof, you must consider several criteria including:
- The interest rate
It represents the profit margin that the bank applies to your credit agreement and is expressed as a percentage. This rate is strictly controlled and must not be usurious. However, reference should only be made to the APR or the annual effective annual rate, the only indicator enabling the real price of credit to be determined with precision.
- The total cost of credit
It is calculated from the APR. The APR includes the basic interest rate but also all the charges involved in taking out the loan. These include, among other things, administration fees, borrower insurance costs, costs generated by the creation of security when necessary.
- The cost of other services
It is very likely that you will have to open an account with the financial institution that grants you the loan. The opening, operation and maintenance of the account can generate charges, agios. You must take this into account when calculating the cost of credit.
- The cost of possible borrower insurance
It is not mandatory but most lenders will require it in order to secure the loan. Note, however, that you can now freely choose your borrower insurance.