Cheap loans are a Danish mortgage loan provider. As a new customer you have the opportunity to borrow up to DKK 8,000, while as an existing customer you can borrow up to DKK 15,000 with an annual fixed interest rate. Cheap loans are known for their fast processing of loan applications. If you apply in local’s opening hours, you can have the borrowed money in your account within 30 minutes. Of course, this requires that you be approved for the loan.
Cheap loans offer attractive maturities on loans
One of the things that makes Cheap loans attractive is the long term of the loan. You decide for yourself how long a repayment period you want on your loan. You have a minimum payment each month, which of course you must comply with. If you would like to pay off your quick loan ahead of time, you can easily do this. It does not cost extra if you would like to repay the loan ahead of time. Here, other Danish loan providers require a fee for early repayment.
Apply easily with Cheap loans
Cheap loans have an extremely user-friendly application where it is really easy to apply for a quick loan. The website contains all the necessary information, so you do not, as a starting point, have to contact Cheap Loan with any questions. You can quickly get an overview of the repayment amount, the APR, the loan interest rate and the credit costs. This is information that is essential when you need to know the price of the loan.
The application takes place in 4 easy steps.
- You choose the desired loan amount . You can borrow from DKK 100 and up to DKK 15,000 from local if you are an existing customer. If you are a new customer, you can borrow from DKK 100 and up to DKK 15,000. You can easily choose the amount you would like to borrow through the website.
- Complete your loan application . Once you have found the amount you would like to borrow, fill out the loan application. In the application you enter, among other things, your name and address. Based on your loan application, cash Loans makes a credit assessment where your final terms for the loan are calculated. If your credit rating is not good enough, you will be rejected for the loan.
- Sign your application . In order for Cheap loan to obtain the necessary information for the credit assessment, you must sign the loan application with your NEM-ID.
- Receive responses to your application . A few minutes after your application is submitted, you will receive a response to your application. If you get approved, you can approve the loan agreement. If you approve your loan with Cheap loan, you will have the money available within 30 minutes if you apply during their opening hours.
What are the requirements for cash loans?
In order to be approved to borrow money from a Cheap loan, there are a number of requirements that you have to live up to. These requirements are very similar to those of most Danish loan providers.
More specifically, the requirements you need to meet are:
- Be between 19 and 75 years.
- Danish citizen and have a valid CVR number.
- National register address in Denmark
- Have an NEM ID
- You must not be registered in the RKI or the Debtor Register.
- Have a Danish phone number and an e-mail address.
- You must have a Nemkonto in a Danish bank. It is for this account that your money is paid out.
Why Should I Choose a Cheap loan?
One of the great advantages of borrowing money from Cheap loans is that it is easy and fast. At the same time, disbursement is among the fastest in the country. Therefore, if you stand and lack money here and now, then local is a really good loan provider. One of the disadvantages of Cheap loans is that you are only able to borrow 8,000 cash if you are a new customer. If you need to spend more money, you must find another loan provider. At the same time, the loan’s OPP is at the high end. On the other hand, you have the option of choosing a long repayment period, which can make the installment more comfortable.