There may be many reasons why you would like to borrow money over the weekend. It can be, for example, to cover unforeseen expenses or to use an offer.
Most Danes have jobs where they work in their everyday lives and are free at weekends. This means that if you want to do something fun and spontaneous, this usually happens on weekends. Thus one may need to cover expenses for these experiences, which can be a reason why one wants to borrow money on the weekend.
Unfortunately, the bank branches are closed on the weekend, so you can’t talk to them about borrowing money. Furthermore, the banks’ borrowing process also takes time, which is further extended by the fact that the money is not paid out on weekends.
Whether you want to borrow money on Saturday or borrow money on Sundays, this is possible with quick loans. Mortgages have a much shorter processing time in relation to applications for loans in relation to banks, so you can easily apply for quick loans at the weekend, which is not possible with bank branches. In addition, merchant loans also pay out the loan on weekends rather than waiting for an everyday life as bank branches do.
In order to quickly get the money on his account, one should find a loan provider with the same bank as himself, as the transfer thereof goes faster.
It is still possible to borrow money from different providers, even if you apply for the weekend. A new legislation in 2017 temporarily put a stop to quick loans – or at least the ‘quick’ in quick loans. Quick loans still need to be made relatively quickly, however, after 2017’s new legislation with a reflection time of 48 hours.
“Will it not stop borrowing at weekends?”, Both. The new law applies in relation to quick loans with maturity up to 3 months. That is, offering the loan provider loans with longer maturity, it will not be affected by the legislation and hence the extended reflection period. If you are willing to extend the maturity, you can immediately access the loan.
A longer maturity will mean paying less each month, as the loan expires over a longer period.
If you do not mind paying a small amount of a month over a longer period, as mentioned in the above section, and if you need to spend the money immediately, you can easily make use of loans with longer maturities, which you can get paid with. the same.
If, on the other hand, you want a quick loan to be settled as soon as possible, you must assess whether one should instead choose quick loans with the short maturity, which is precisely affected by the new legislation from 2017. A good reason to want to settle a loan most quickly Possible is that you know that the coming salary will cover the loan. Therefore, it may seem silly to let the loan and payments continue, if one would easily have been able to pay it off quickly.
This means that you have to do away with yourself if you can wait 48 hours to receive money for whatever they are used to. It is still a quick loan compared to various bank branches, where the application process and the payout process are longer. You can usually wait 48 hours for a possible purchase, but if it has to be here and now, you must agree with the longer term.
When you need to spend money right away, you can be tempted to just take the first offer you get. However, it may be a good idea to do research so that you secure yourself the cheapest loan. You sign a quick loan with NemID, and a loan is only binding once you have signed this way.
That is, you can easily apply for loans from several different loan providers and thereby compare the various offers that the providers bring. If you secure yourself the best deal, there is money to save. It is no obligation simply to apply for a loan, so do not fear to hang on the loan unless you have signed it.
One can easily be tempted by the opportunity to borrow money, especially when one does not have to reverse the purpose of the loan with a bank advisor. When you have the opportunity to borrow money at the weekend, you can easily be tempted to make impulse purchases. However, this must be taken care of, as one should think ahead in relation to the repayment of the loan.
When taking out a loan, one must feel well informed about the interest and maturity of the loan, and furthermore understand the consequences of not complying with the payment agreements in connection with the loan. As often, quick loans have a very high interest rate, so it can become a vicious circle with high bills if you do not pay as agreed.
Therefore, it is important that you are realistic in relation to the admission of loans and the repayment of this. A good idea is to make a budget in advance so you know how much money you can deduct with the month ahead. This can also be an advantage when it comes to choosing between short-term loans, of which one has to take into account this 48-hour reflection period, or long-term loans that you can record immediately.
You pay most of the month for short-term loans, so there must be room in the budget for the next few months for large payments. Furthermore, long-term loans run for longer periods of time, so one can risk hanging out on the loan during the Christmas months, where one is most likely not going to have the big budget for Christmas gifts.
The various elements are important to include in the budget and the possibility of borrowing and repayment of the loan. One important rule is that you do not have to take out loans you cannot pay back.