Banks and microfinance organizations in Ukraine offer take a credit card and cash. To understand which solution is more profitable and more convenient, let's compare the advantages and disadvantages of both options.
Cash loan - pros and cons
Cash loans are provided by all banking institutions and some microfinance companies. The advantages of such loans are not as many as it might seem at first glance. Clients of credit organizations are relieved of the need to have personal bank cards and provide their data to third parties. In addition, they do not need to look for ATMs to cash out the approved limit.
- You can get a cash loan only with a direct visit to the office of a financial enterprise. You need to allocate time for visiting an offline unit, laying in it at least an hour to wait in line with a credit manager.
- It is not always necessary to have cash. Funds may be required, for example, to make a profitable online purchase.
- Not all MFIs, which differ from banks in their maximum loyalty to potential and real clients, issue cash loans.
Banks do not provide fully remote loans. Remotely they accept applications, after consideration giving preliminary answers. If their decisions are positive, the borrowers visit the branches and already here they take loans by transfer to cards. Therefore, now we will only talk about the advantages and disadvantages that are characteristic of microcredit.
Strengths and weaknesses of online loans
It will take you no more than 30 minutes to get a loan on a card, for example, in the Groshi Vsim microfinance company. Turning to the company for an Internet microloan, you get favorable conditions for cooperation:
- Efficiency. You do not need to personally come to the MFI office and provide managers with documents.
- Minimum requirements. To be approved, you must be between 18 and 65 years of age. You may not work officially, study, be retired or on maternity leave. Your credit history may be clean or bad. Salary statements are not required.
- Any goals. You can urgently get a loan on a card online to make an unplanned purchase, go to the doctor, or repair a car. The MFI will not force you to report on what exactly the borrowed funds were spent on.
But the most important advantage of Internet microloans is how they are issued and directly issued. Processes are as simple and fast as possible, even for new customers.
Online Loan Guide
If you decide to contact the MFI for the first time, use our instructions:
- Go to the website of the company "Money Vsim". The company is licensed by the National Financial Services Commission and issues from 500 to 15000 hryvnias according to the passport and TIN. If necessary, the debt can be extended without increasing the interest rate any number of times.
- Read the terms and conditions and submit your request. The application will need to indicate the full name, date of birth, place of residence and registration, source and amount of earnings, contacts and other standard information. If all columns of the questionnaire are filled out without errors, there will be no calls to clarify the information.
- Link a bank card. There must be at least one hryvnia on the account for quick identification of "plastic".
- Within 5 minutes you will receive an answer via SMS to your phone. The solution will also appear on the screen of the device.
If the application is approved, it remains to sign an electronic loan agreement. The company "Money Vsim" sends money to the cards linked in the Personal Account instantly. You don't need to come to the office to pick them up.