Want to borrow money without paying interest? That’s the dream of every borrower. Sounds like an April Fool’s joke? But it is not. Here are the exact terms and how to apply for an interest-free payday loan.
Make application online: here’s how it works
The application is quick and easy, as expected from a modern online payday loan. The money will be paid out to you immediately after successful online examination. Select 1,000 Euro as the amount and 36 months as the term. A table with different providers appears. The offer in the first place has an interest rate of 0%, as long as the action runs.
The exact conditions
The offer is valid under the following conditions: You borrow exactly 1,000 euros. You have exactly 3 years to pay the money back. The type of use is optional. In detail it looks like this:
- fixed borrowing rate: 0.0%
- annual percentage rate: 0.0%
- Net loan amount: 1,000 euros
- Duration: 36 months
- Processing fee: none
- Monthly rate: € 27.61 at exactly these conditions
- Exclusive Deal
What is a payday loan without interest?
A bank usually lends money to make money from lending itself. For this it demands a payment, the so-called interest. The interest is added to the loan amount. So the debtor has to pay more money in the end than he borrowed. That’s the way it usually works. A loan without interest works differently. The bank does not charge the customer for the loan. The customer pays exactly back the amount he has taken. So if you take out a 1,000 euro loan, you just have to repay this sum.
What is an interest-free payday loan not?
Of course, an interest-free payday loan must be paid back. Interest-free means only that you as a borrower do not have to pay any interest to the bank. However, this does not release him from the obligation to repay. The money borrowed naturally belongs to the bank, and must be paid off like a normal installment loan.
Action expired or application rejected?
The promotion has expired? Or the pledge by the bank did not work out? You need an alternative? We have researched some possibilities for you.
- if it should be cheap: here’s the installment loan comparison
- if it should be flexible: frame loan comparison
- if it has to be fast: other alternatives for quick loans
- if it’s in a hurry: still get money on the account today