Offers of funds raised have become so common that they can be found almost everywhere. With the simplification of the procedure for issuing loans, the habit of “living on credit” has firmly entered the lives of many. For which acquisitions microfinance organizations do not provide loans: from cars and real estate to small household appliances. Targeted loans are also popular for solving a specific problem. Among young people, popularity gets a target loan for the wedding.
Using consumer loans and buying goods in installments, the buyer guarantees that he can receive funds against his future income. This is rational: pay a little more for the opportunity to get what you want, before the accumulation of the full amount. And in our unstable economic time, when prices are rising literally “in front of an amazed public,” the decision to apply for a loan may also be dictated by the desire to “outrun” inflation. However, one should not rely on the myopia of banks and microfinance organizations: without financial gain, they cannot withstand competition in the market of services. We are also interested in what kind of credit can be useful for the consumer.
Having made a cash loan, we thus buy money. In fact, the fee for using the loan is the price of the goods. The cost of this “product” is different from different financial structures. The advantage of the buyer in any case, no matter how high the interest, is the advantage that the purchased product will bring him.
Cash advance loans Iowa
In the case of a physical product, everything is simple: household appliances will facilitate work at home and help to create coziness, computer technologies will allow you to enjoy modern technologies both in everyday life and at work. In these cases, it is sufficient to soberly calculate your financial capacity to repay the loan, which will allow you to enjoy the benefits obtained in the first days after the decision is made.
The very same people who take cash loans in order, as they say, to justify their salary, are themselves drawn into a financial trap. Loss of credit for its existence is unlikely to bring you tangible benefits. Rather, it will lead to the fact that the next salary will have to be spent not only on food, but also on the repayment of the loan already spent.
So, before you decide on a loan, you should seriously think about the appropriateness of such a step. The benefits of the achieved goal should be obvious and undeniable.
What is profitable loans for a wedding in Iowa?
First of all, loans for a wedding are attracted by the possibility of turning a cherished dream into reality. Citizens could save money for future significant expenses over the years. And in our time, the storage of savings at home is fraught with the risk of their depreciation. Opening a deposit at the bank does promise the potential impossibility of receiving them due to the sudden bankruptcy of the institution (which in practice is not uncommon). In addition, to know long before when such a significant event will take place in your life in order to have time to adequately prepare for it, except in the power of soothsayers.
The decision to create a family is not only a fateful event, but also very exciting for two lovers. Of course, they want the holiday on such an important occasion to surpass other family celebrations in their impressions. In any case, the cost of the wedding ceremony – the undisputed leader, when compared with other important celebrations.
Even if the newlyweds prefer to restrict themselves to honeymoon instead of noisy feasts, its cost can hardly be paid from even an ordinary salary to two people. Wedding rings – an indispensable attribute of the wedding – is not the last line in the cost. And what girl will refuse to dress up if not in a magnificent wedding dress, then at least in an expensive evening dress? The postponement of family happiness in the hope of accumulating the required amount for a couple of months can lead to a delay in marriage for many years.
By deciding to take a loan for a wedding, you save yourself from the humiliating procedure of borrowing money from relatives and friends. What if you can not return the borrowed money in the stipulated time? And what about the fact that the amount returned through time is partially depreciated due to inflation? You should not test the strength of relationships with family and friends. In addition, starting a family life with debts is extremely unpleasant.
It turns out that the loans for the wedding allow us to keep relations with relatives, and to organize the holiday at a decent level. It remains only not to be mistaken with the choice of a credit institution.
How to get a loan for the wedding
In order to have an idea about the total amount of wedding expenses, one should first of all decide:
- with a list of guests to whom invitations will be sent;
- with rings and dresses for newlyweds;
- with the number of wedding feast dishes;
- with the rental of cars and premises for celebration;
- with the cost of a toastmaster, decorations for cars and a banquet hall;
- with the organization of photo and video of the ceremony.
Summing up the planned expenses and comparing them with the available resources of two families, many newlyweds will say: “I want to take a loan for the wedding!”. And they will be right in their own way: the cost of using credit funds does not overlap the brightness of the impressions of the “heroes” of the celebration and their guests. And for many years, stored photos and videos will awaken pleasant memories and delight even the younger generation.
Given the variety of offers from large banks and microfinance structures, it is important to carefully examine the proposed credit conditions before deciding where to get a loan for the wedding in order not to get into a difficult situation. Most of these proposals amount to a loan in the amount of up to 5,000 $, with the possibility of its repayment for the period from 1 to 3 years. The difference in conditions lies mainly in the size of interest and commission rates.
If the amount of 1,000 $ is too significant for you, and you are afraid to take it at a percentage, then it makes sense to consider the option of a loan for a portion of wedding expenses. Usually after the celebration, a significant part of the loan amount is repaid by the newlyweds at the expense of money donated at the wedding.
If you are used to trusting solid structures with many years of experience, you can contact one of the most reputable banks in your city. Many banks, if they don’t give out a target (exactly for a wedding) loan, then they can get a simple consumer loan or a loan on a personal card.
Making a credit card will take a minimum amount of time. For example, in PrivatBank you will receive a “Universal” card in no more than half an hour. Credit cards have both advantages and disadvantages. The undisputed advantage is a grace period: usually up to 55 days, but sometimes up to 3 months. This is the period when you either do not pay at all for using the credit funds, or you pay literally a penny amount. The disadvantage of using a “credit card” for wedding expenses will be a limit in the amount that may simply not be enough for the planned events.
In any organization engaged in microfinance, you probably can quickly get money in cash. To get a loan for a wedding, you will need to provide the following documents:
- certificate of the assigned identification code
- documents confirming the intention to enter into a marriage
The cost of the loan will depend on its final amount, but on average it is from 11 to 25% per annum. At the conclusion of the contract should pay attention to whether the early repayment of the loan. In some organizations, such redemption is penalized altogether.
Can I get a loan for the wedding without references and guarantors
Many companies and even banking institutions have shifted to the so-called online banking – the implementation of online money transactions in real time. There is a huge variety of such services, for example, you can use this services. To do this, you just go to her site and fill out an application in electronic form. Your application will be processed within literally 10-20 minutes. The funds are credited to the card of any bank in the country. The transfer rate depends on the mode of the bank. So, in the case of specifying the details of the PrivatBank card, the company guarantees instant crediting of credit funds to the card. The funds of other banks can be credited within an hour after the application has been processed and a positive decision is made.
The use of online services is also suitable for processing a loan for a wedding if banks refuse to issue the required amount. This can happen if you:
- have a bad credit history or do not have it at all;
- you have an outstanding loan;
- you can not confirm your income with an official certificate or work experience in the last place does not exceed 6 months.
Based on the practice of communicating with borrowers, banks establish other reasons for refusing to issue a loan. Oddly enough, it may be a small amount of the amount you requested. The thing is that there is no economic interest in a large bank to issue a loan, which can be repaid within a few months. But it is beneficial to small organizations that are engaged in microcredit. And for you this option will be beneficial both in terms of the way of registration (as they say, without getting up from the sofa), and in terms of repayment speed due to small rates.