One thing is to decide that now you want to borrow money. Let’s say you want to borrow 10,000 kr. Something else is to be found in the jungle of providers and offers. There are SMS loans, quick payday loan, quick payday loan, click loans, consumer loans, mini loans, micro loans and a host of other loans.
Common to all of them is that they are easy loans. You must, in one way or another, send in a short application for a place, which you get relatively quickly. In a short time, the money ticks into your account and it is now up to you to pay back.
Designed to keep the jungle loan clear to you
You do not have to deal with whether it is called a quick loan or an SMS loan, because all the loans are arranged against each other. You simply choose your amount of USD 10,000, and then a lot of opportunities pop up.
You can see maturity, interest rates and any other criteria for the loan. You can even see the provider’s rating in stars. Once you have selected the loan that best suits you – whether it is a click loan or a quick loan – there is a link directly to the application. Smart and easy.
So what’s the difference?
Many people will probably wonder why there should be so many different names of loans that are almost identical. It is not exactly clear to the consumer. The answer is simple: it’s because the loan providers try to stand out by inventing “something new”. For example, an SMS loan and a mobile loan are two words for one and the same thing; loans taken by SMS through mobile. Therefore, a micro loan can also easily be an SMS loan if it is taken up via SMS. Alternatively, you would probably call it a very small quick loan as quick payday loan cover all fast loans. Are you confused?
All loans are consumer loans: loans you take out for private consumption. The name can cover how you took out the loan: SMS loan and click loan. It can also cover the fact that the loan is fast to borrow: quick payday loan and express loans. Last but not least, it can cover the size of the loan: Minimum loans and micro loans.
You do not use these small consumer loans to buy a house for
You need such a large loan in the bank or mortgage institution. The loan that looks most like a bank loan is a private loan. The loan is usually of a considerable size and with a longer, fixed maturity.
The terms are basically the same as a bank loan. However, the loan amount is still in a somewhat lower class than a bank loan can be. Such a loan can for example. used as an alternative to paying for a car or travel.