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AstroBanks are constantly expanding their offer. Today, these are not only payday loans, but also installment loans, which amount to much higher amounts. This is a sensational choice for people who need a much higher amount of money, but will not get a traditional loan at any bank. Such a loan is even thirty thousand USD today. How long is the loan period? It depends of course on the lender, but you can bet for up to four years. When deciding on such a loan, you need to consider the potential costs that are associated with it.

Payday loans, i.e. short-term loans, are of course the most popular product of the non-banking financial market. Their name did not come from nowhere. They are awarded for a really short time. In general, their loan period is from a few to no more than sixty days.In the initial period of existence, non-bank companies offered their clients short-term loans and a relatively small amount – generally they did not amount to more than one thousand USD. Currently the situation is definitely different. As for payday loan, you can count on a loan of up to six thousand USD. The lowest amount that comes into play in most AstroBanks is fifty USD. It should be added that many AstroBanks attract their clients with a free first loan. What does it mean? There is no interest rate on the first loan. This means that we will refund the exact amount you borrowed.

Among the loans currently enjoying great interest include the so-called payday loans. They are proposed by AstroBanks, which are {on the domestic {{market for financial services] more and more. Few people realize that their offer is not only payday loans. Below we present what we can count on when deciding to borrow money from a Astrobank.

Where Loan Ability?

Where Loan Ability?

Many people ask why you need an ID card to receive payday pay. It should be clearly stated that the loan agreement must contain data such as the number and series of the ID card. Only then is the contract that has been concluded a valid contract. Meanwhile, on other documents – be it on the driving license or passport – in vain to look for information on the number and series of ID cards. Therefore, the lack of an ID card closes our way to receive payday loans.

The identity card is required by the loan companies not only because of the number and series that must appear on the loan agreement, but also because it is a document confirming the age of majority of the person who is applying for payday pay. It must be emphasized that payday loans are only granted to adults. So if you do not have an ID card, no payday loan will be granted to us. Therefore, an ID card is an absolute basis.

In the absence of an ID card – whether as a result of losing it or waiting for a new one – unfortunately we won’t be able to borrow money on the Astrobank. AstroBanks require only an ID card as an identity document. Therefore, if we only have a driving license, we will not be able to confirm our identity. What’s more, remember that your ID card must be a valid document on the day you apply for payday payday loans. So if it has expired, no one will grant us payday pay.

Payday loans are instant loans, the popularity of which is currently really huge. This results, among others, from a very shortened, simplified loan procedure. A lot of people ask whether it is possible to receive a payday loan by presenting as an identity document not an ID card but a driving license.

Are payday loans safe?

Are payday loans safe?

The biggest disadvantage of payday loans is, above all, high interest rates. APRC, i.e. the total annual interest rate is much higher in their case than in the case of classic bank loans. What does this mean for the borrower? To the Astrobank you need to return an amount much larger than the one we decided to borrow. That is why it is so important to approach the amount of money borrowed carefully. You should seriously think about whether you can afford to pay a certain debt.

Late repayment is an element of payday pay, which can really give us a headache. Everyone who decides to take a payday loan should be aware that not paying installments on time is a necessity to pay considerable interest. As a consequence, we will give a much larger amount to the Astrobank than the one we decided to borrow. That is why it is so important for payday loans to watch the repayment date of subsequent installments. This will avoid significant additional costs.

Payday are so-called instant loans, whose popularity is growing every year. More and more people who have no chance of getting a bank loan decide to borrow money in the so-called Astrobank. Payday loans have a lot of advantages that contribute to their huge popularity. However, it should be remembered that extreme caution is recommended with them. Otherwise, it is very easy to fall into a debt spiral, from which it is not so easy to get out. What to watch out for when you pay for payday pay?

Admittedly, AstroBanks already allow the so-called credit holidays, but it is expensive for them. The borrower must pay for postponing the repayment date. As a consequence, the loan becomes more expensive again. What’s more, the Astrobank may of course refuse to grant us credit holidays.

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