How to safely borrow money online?
Over the past ten years, the number of lending companies has increased rapidly. On the one hand, it's good because lenders are preparing competitive offers. On the other hand, however, there was a certain threat. We must verify the credibility and integrity of financial institutions more closely. See how to safely borrow money online.
Verify the lender
Remember to always check the credibility of the company before signing the contract. Check out her website. Check what information it shares with potential customers. Look for answers to the following questions:
- What's the name of the company? Who does it belong to?
- What is the registered office address?
- How many years has it been operating on the market?
- Is it controlled by state institutions?
- Does he check borrowers in debtors' databases?
Look for opinions about the company. Check out its social media channels (Facebook, Instagram, Youtube). Check to see if it has a Google listing. Browse online forums. Remember that all loan companies appearing on our website are thoroughly verified by us!
Read the loan agreement carefully
Before you make your final decision, be sure to read the contract. Pay close attention to what is written in small print. Thanks to this, you will avoid unpleasant surprises. Check that the saved conditions are the same as those suggested at the beginning. See if you will incur any additional costs. Look for information on penalty interest for late loan repayment. Check the repayment date and the APRC amount. Pay attention to whether the lender has included the option of extending the repayment or refinancing the loan.
If you have any doubts or questions, please contact the consultant. By the way, pay attention to the quality of customer service. If you are already familiar with the contract, read the attached documents, such as:
- agreement withdrawal form,
- installment repayment schedule,
- information sheet,
- table of fees and commissions.
Really assess your financial possibilities
Remember to only take out a loan that you can actually afford. Then there is less risk of falling into a debt spiral. Analyze your income and expenses. Don't make decisions on the spur of the moment. Only borrow as much as you really need.
Before signing the contract, pay attention to the loan interest rate, commission, amount of installments, total cost and additional costs (e.g. a preparation fee). It's worth spending a few minutes so that you don't regret your decision later. Never sign a contract blindly! Remember to apply only through a trusted internet network. If at some point you are redirected to a different page, check if it still belongs to the lender. If not, cancel your offer. Also make sure that it is properly secured. This is evidenced by the padlock in the browser bar. Then you can be sure that third parties will not have access to your data.
If you follow the above rules, you don't have to worry about your safety when taking out a loan online.Return