Applying for a loan via the Internet nowadays does not seem to be an issue anymore. It is a relatively quick and convenient way to get the money you need without the need for formalities, so it is also a popular solution for many. Although more widely available are short-term loans up to a few hundred euros, many lenders also offer longer-term loans – most often quick loans for a year. This solution is useful for larger plans and, unlike bank loans, you can take out a year’s online credit without even leaving your home – within minutes. What to consider before applying for a loan? How do I find the right solution? This is discussed below!
As with any money loan on the Internet, it is possible to apply for a longer term loan electronically. When considering an application, the lender considers both credit history and income level. Also important is the age limit – it may vary from lender to lender. A 12-month quick cash loan is issued without pledge or guarantee, but each person must carefully evaluate his or her own solvency.
Loans can reach a few thousand euros a year. Repayment of the loan is done according to a predetermined schedule – it is prepared already at the moment of conclusion of the contract, therefore it is important to read all the information before and carefully read all the terms and conditions of the contract. When choosing a loan for a longer period of time, you should carefully evaluate your solvency and understand whether the monthly installment of your loan is commensurate with your income level.
Another important factor to consider when considering a long-term loan is that when you first borrow, the amount of credit available is usually less than what the lenders advertise. The credit limit is usually raised from the second borrowing time.
How to choose a lender?
As mentioned, the offer is wide and open credits up to 12 months are available in a fairly wide selection. Given that each offer is different, it is desirable to spend some time evaluating several options. Of course, one can always trust what is promised in advertising, but one should hardly rely on loud slogans. Another option is to look at reviews or recommendations from other borrowers. However, it is safest to look at the offers and borrowing conditions of several lenders.
The most important factors to consider are:
- The amount of money available – Different lenders offer different loan amounts, so first you need to evaluate what amount is needed and then find the right offer;
- Interest Rate – The important thing is the interest rate because it will show you what the total cost of the loan will be. Be sure to pay attention to the amount of the monthly payment as well – this is most convenient with the loan calculators on the lenders’ websites;
- Age Limit and Other Borrowing Conditions – Loans are made to solvent persons with a positive credit history, but you must also ensure that you meet the age limit set by the lender before applying for a loan;
- Extra Features – It’s definitely worth learning about additional features like loyalty programs, the possibility of extending credit repayments when needed, and other important nuances that might be useful
Once you have found the right solution and assessed your solvency, you can apply for a loan. This can be done on the lender’s website at any time of the day – it should be borne in mind that the application process and the granting of the loan take place within the lender’s working hours.
Lagham credit for 12 months
Lagham offer also 12 months credit. This is an opportunity to borrow up to 1000 euros to realize your plans. If you are confident that the loan will be repayable in a shorter period of time, you can also opt for a shorter repayment period – the minimum repayment term for a long-term loan is 3 months.
The loan can be applied for by residents of the Republic of Latvia aged 20-70. It is important that the borrower has a positive credit history and an adequate level of income.
To apply for a loan online you need:
- Independent mobile phone connection;
- E-mail address;
- Bank account with a bank operating in Latvia;
- € 0.01 to complete the registration
Fill out the application and transfer one euro cent to the bank account indicated by the lender – this is necessary for security purposes so that the lender can verify the personal data you provide. The application is processed within 15 minutes and, if a positive decision is reached, the money will be credited to the bank account indicated as soon as possible.
Although it is relatively easy to get a loan today, it is still a responsible decision that should only be taken if you really need it and are confident in your ability to repay it within the contract period:
- Match your desires with options – evaluate how much you can spend each month to repay your loan;
- Borrow only when you really need it – remember that credit is for serious and thoughtful purposes;
- Do not take more than necessary – carefully evaluate the amount needed