All About Payday Loans
Need a Simulation of your Payday Loan?
Life is so made … sometimes we have money or a simulation. For a unique opportunity, an unexpected event, the need to get cash or even a project to fund without waiting, we all have to face some unforeseen expenses at one time or another.
Fortunately, for this kind of situation, there is an adapted loan: the payday loan. Indeed, thanks to its freedom of assignment, the traditional payday loan is in Belgium, the ideal loan solution for exceptional situations. What are these situations?
- Financing a project: the installation of a new kitchen, the purchase of furniture, the financing of small jobs, the organization of a city-trip, a wedding, …
- Facing an unexpected event: family drama, accident, natural disaster, …
- Buy a new vehicle: new or used.
The main advantage of the classic payday loan is that it is unaffected. This means that you do not have to justify the use of this loan. You use the money as you see fit, without being accountable to your lender.
Even if there is a definition of the payday loan , it has nothing to do with the reality of all days.When you apply for a payday loan, you receive the entire amount borrowed at one time. You can then stagger your repayments; you repay at your own pace according to the terms of your contract.
Even if the conditions of access to the traditional payday loan are fairly simple but regulated by the FSMA and if you still have many questions about your capacity and your borrowing terms.
That’s why, on this page, we answer for you the most common questions about payday loans. Do not hesitate to contact us if you want paydayized advice from qualified professionals. We are at your disposal!
Who is the Payday Loan for?
- You need a set amount at a defined time; the classic payday loan allows the purchase of a property, the payment of an invoice: everything is imaginable!
- The classic payday loan is the solution for unique opportunities and exceptional situations.
- The traditional payday loan is intended for individuals 18 years or older residing in Belgium and the Grand Duchy of Luxembourg, who receive regular income.
Benefits of the Classic Payday Loan.
- You choose the amount to borrow, the duration of the credit and the monthly repayments: no bad surprise!
- The interest rate is fixed directly and definitively.
- The amount of money is paid into your checking account immediately and in one go: time saved!
- You can make the purchase of your choice, or provide for all your needs : no justification of use is necessary.
- Possibility of credit with quick simulation in 24h.
What is the Payday Loan Exactly?
The payday loan , also called installment loan or consumer credit , is a credit category whose main feature is that it does not finance a specific purchase. This loan can be used to finance all types of projects or simply to obtain cash. The repayment is made in monthly installments of a fixed amount.
Realize your dreams, concretize your projects, fulfill your desires, cover your needs, face the unexpected … Live your life serenely!
The Installment Loan: For which Projects?
To make an installment loan , you do not need to give any justification. Thus, you can benefit from this type of credit whether for a payday project with a specific purpose or simply because you need cash. You can therefore apply for a payday loan for, for example:
- Realize work in your house, build a swimming pool, a veranda …
- To go on holiday
- Buy multimedia equipment: computer, telephone, television …
- To buy a car
- Furnish your home, redecorate a room.
- Pay unexpected fees with a cash reserve.
The Different Forms of Payday Loan that Suit you.
We offer different types of payday loans, specifically designed for a specific type of need or a specific applicant profile. You will find, for example, traditional installment loans, car loans or other financing. Each of these credits has specific characteristics.
- The classic payday loan is more for a specific project. If you need a set amount, at a defined time, this loan is for you. This credit is the solution for unforeseen situations and exceptional opportunities.
- The car loan is, as the name suggests, provided for the purchase of a vehicle. The interest rate will be different if it is a new car or a used car, but no worries, it will be fixed.
- The “other financing” loan includes all other needs or desires that would require funding, such as the need for a marriage loan.
- The formula ” Credit – simulation – 24h.
Payday Car Loan: Did you know? More and More Individuals are Opting for a Car Loan to make their car Project a Reality.
The car loan is actually a payday loan: it is part of the benefits for which we specializes. Since 1980, this Belgian company, also present on the territory of the Grand-Duchy of Luxembourg, works to offer everyone a credit adapted to his needs.
And since more and more people are giving importance to their vehicle, we very frequently validate loan files in the automotive sector! Car financing is a recommended operation in many situations, whether customers are interested in a new or used car, or are looking for a second or third car for the family.
If necessary, we can move directly home for the signing of the contract, knowing that people who want a car loan sometimes have mobility difficulties.
To Choose the Right Formula, Trust our Advisors.
How to perform a simulation?
To simulate your credit application , you can use our simulation tool at the top of this page. This one is of course free and without commitment. Select the amount you need and the repayment term, and you’ll have an idea of the monthly repayments.
Why do you Need to Simulate your Payday Loan Online before Embarking on this Credit Project?
Here are the main benefits of Internet estimation, a practice very common and accessible to all.
With a simple online simulation, in one or two minutes only, you have the opportunity to get all the details related to your payday loan project.
This initiative allows you to easily compare the different offers available on the market, to select the one that seems the most advantageous and the most reliable for you. No need to make a physical appointment in agency, the entire application process can be done virtually.
In most cases, the sites that offer the estimate can also send their request directly. Nevertheless, even if the tool to project on a consumer credit is very useful, it is always useful to turn to professionals in order to have advice, or even to ask the intervention of a credit broker , to negotiate the best terms.
When will I Receive my Payday Loan Reply?
We guarantee you a very fast response. You will be immediately fixed on the possibility of granting you the payday loan or not. If your request is accepted, all you need to do is complete a few formalities and sign your contract. You will then receive the money from your current account within 48 hours of signing the contract.
How Much can I Borrow?
You can borrow money on a range from € 1,250 to € 100,000. The payday loan is made as well for your little wishes as for the project of your life.
The borrowing capacity depends on the situation of each person. In general, it is considered that he must remain, to a single person the amount of 740 € to live after the payment of all these charges (rent, credits …) and 880 € for a couple. However, each situation is handled on a case-by-case basis and depending on your credit company , you may be able to negotiate terms.
What is the Repayment Period for my Payday Loan?
For this type of credit, we have set a minimum duration and a maximum duration for repayment. You can take out a payday loan for a period ranging from a minimum of 12 months to a maximum of 84 months (7 years). Exceptionally for the owners, we can extend this duration to 120 months.
What are the Conditions for Taking Out a Credit?
To obtain a loan , you must be over 18 years of age and reside in Belgium (or the Grand Duchy of Luxembourg). You must have regular income and you can not be registered in the national file of payment incidents of the National Bank of Belgium.
Why choose us?
We have extensive experience in the sector because we are an agency specialized in payday loans in Belgium since 1980. We have a network of branches all over Belgium and the Grand Duchy of Luxembourg. Thus, you will always have a qualified advisor near you. We are also reachable by phone and via our website. If necessary, we also go to your home free of charge for the signature of the contract.
We are an independent company of any financial group, which is guaranteed to receive objective advice. Credit is our only business. We are therefore more qualified and more attentive to the needs of our customers. We offer you a paydayized service and offer offers matching your profile and your needs. We also promise a fast and discreet service.
What is the Rate for my Payday Loan?
The Global Effective Annual Rate, also called APR, differs from one situation to another. The calculation of the APR depends on the amount borrowed, the length of the repayment period, the annual fixed debtor rate and the payment terms. The APR is 10%. A concrete example ; If you take out a loan of 20,000 € over a period of 5 years, your monthly payments will amount to 420,71 €.