Due to the great competition that exists in the financial market, lenders offer their loans at increasingly lower prices to attract new customers. Following this trend, some entities have decided to get on the car of interest-free loans. Now it is possible to obtain financing and return only the borrowed amount, not another euro. installment loans For Bad Credit Are A Smart Financial Move.
The best loans at 0% APR in the market
If we request one of the products that we will see next we will only have to return the borrowed money, nor one more euro. Of course, to enjoy the following offers we must comply with the lender’s conditions.
Vivus: free money for new customers
Vivus, a Spanish company specialized in the granting of mini-loans, offers interest-free loans of up to 300 euros to its new clients. Through its website, we can get the free money in a matter of minutes and return it within a maximum period of 30 days. To be granted these mini loans we must meet these requirements:
- Be between 21 and 75 years old.
- Reside in Spain
- Have a sufficient level of income to be able to return the borrowed money.
- Not be registered in any list of debtors such as Asnef, RAI, etc.
PepeDinero: mini interest-free loans of up to € 250
Another entity that offers mini loans without interest is PepeDinero. Thanks to the Godfather Program, if we go to this lender on the recommendation of a friend we can request up to € 250 to return in a maximum of 7 days without paying a single euro in commissions or interest.
Barclaycard credit cards: payment of purchases at 0% APR
Barclaycard credit cards allow us to return the total of our monthly purchases up to 59 days at 0% APR. That is, we can use the credit card and return all the money without interest after two months.
What happens if I do not repay the interest-free loans?
When we ask for money without interest we must return it within the term indicated in the contract. Otherwise, everything we have been able to save on commissions and interests will end up paying penalties for delay. In the face of default, entities usually apply these sanctions:
- Commissions for claiming debtor positions. It is a fixed amount charged by the entity for informing us that we owe money.
- Interest in delay. They are applied to the amount owed. By law, they can not exceed the normal loan interest by more than two points
- Registration in a register of defaulters. If the default is prolonged, the lender could register our data in one or more lists of defaulters, with all the inconveniences that entail.
- Judicial claim. It is the last resort for us to pay our debts. If we lose the trial, we will have to reimburse the credit and pay the penalties for delay and the costs of the judicial process.
Caution: not all interest-free loans are free
Free money is money that is returned without paying interest, commissions or any other additional expense. The interest-free loans that we have seen meet all these requirements, but there are others that are not really free. To distinguish between each other we must carefully read the contract to know if they will charge us for any concept (linked products, notary fees etc.). In addition, we should look at the APR and not the TIN: if the APR is 0%, we will not be charged interest or commissions.