Navigating the loan market is not an easy task as new loan providers are constantly popping up. Comparing different providers is essential to finding the most advantageous loan option, but it can also be extremely time-consuming, especially for those seeking to receive money as fast as possible. But being pressed on time does not mean that one has to settle for an expensive deal.
A revolutionary loan comparison site Moneezy helps customers by doing the math for them, therefore saving both time and money. There is no need to spend hours scrolling through numerous websites if the information can be accessed on one single site, where customers can choose the best option for themselves. By clicking on the “apply” button, the applicant is redirected to a website, where they can fill in the application. Due to its user-friendliness and the continuous popularity of payday loans, Moneezy has grown exponentially since the founding of the site.
When should one consider taking a payday loan
Moneezy compares loans of various kinds, most of which are considered as payday loans or personal loans. But why are people opting for payday loans and in which circumstances are they worth considering? Payday loans (sometimes referred to as “cash advances”) are short-term loans, which are essentially meant to provide a part of the payday sum immediately. What also defines payday loans, is that the application is processed quickly and often entirely online, without a trip to your local branch or any unnecessary paperwork.
Customers usually opt for payday loans when they are in urgent need for money, for example due to an unforeseeable expense, such as a medical emergency, which cannot be postponed or would be even more expensive when treated later. A payday loan is worth considering in case the money is urgently needed and the applicant is confident, that they can pay it back by the due date.
What is the best measure for comparing loans
There are various things that people look at when deciding on a loan, with the term and sum being the most obvious ones. However, there is another factor that should be considered: the annual percentage rate (APR). So, what exactly is APR?
One probably does not think of APR as the first thing when comparing loans, however it should not be disregarded. APR helps to understand the cost of borrowing by showing the cost of the loan, including interest rates and fees – the lower the APR, the cheaper the loan. However, it is important to note, that APR only includes the compulsory charges, which is why it is important to read the terms and conditions.
Moneezy is owned by a Danish fintech company called Intelligent Banker ApS, which focuses on comparison sites. Moneezy providers personally tailored offers from various loan providers based on the chosen criteria. Moneezy does not offer any loans or financial advice. Always consider your options before entering into a loan agreement.
Press release distributed by Pressat on behalf of Moneezy, on Thursday 7 January, 2021. For more information subscribe and follow https://pressat.co.uk/