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How to get a loan abroad?

by Staff Writer
16 Jul 2020 at 23:14hrs | Views
Any unplanned spending abroad? Is it possible to take a loan in another country? Yes! Operational financial assistance is provided on the website "PaydayMe.com". With us, you can quickly get the money on your hands or on your bank card without any extra hassle.

Why is it profitable to take credits abroad?

The popularity of foreign banks is constantly growing. People often turn to foreign financial institutions for loans. Why? These are the main reasons:

- Low interest rate, which does not exceed 6% per annum.
- Reliable, proven banks.
- Flexible and customer loyal lending terms.

As banking institutions are quite sensitive to checking the solvency of potential borrowers, it is easier to turn to microfinance institutions. They approve loans in 90% of cases and do not require a full set of documents. However, they also carefully review applications, but it is still much easier to obtain a loan. You can form an application electronically, get money on the card and spend it on planned purchases. This process takes no more than 20 minutes.

Who are foreign loans given to?

It is not difficult to get a credit abroad for any nationality. The main thing is the official stay on the territory of a certain state. A foreign bank will approve a loan to a non-resident, if he is:

- legally stays in the country;
- has a residence permit;
- is the owner of movable or immovable property registered in the country of residence;
- is officially employed.

Suppose you have visited the country as a tourist. It is very likely that banking institutions will refuse the loan, as there is no 100% guarantee of repayment. And microfinance institutions do not take this into account and still provide monetary assistance. However, you should keep in mind that in such organizations the interest rate can be much higher. I strongly recommend that you read the agreement carefully, even if you need the money very urgently. If possible, contact a lawyer for advice.

How to get a loan abroad

When taking out a loan at a bank branch, you need to provide a package of documents to confirm your identity and solvency. An important nuance of the approval is the down payment from 10 to 30 percent of the total amount.

If you do not have time or opportunity to go to the bank, think about how to take a loan abroad through the Internet. Many institutions allow you to leave your application online by submitting the requested documents electronically. Once the form is completed and the loan is approved, the money goes to the card.

Microfinance institutions do not require a full set of documents. As a rule, a passport photo is sufficient. Some organizations ask for a photo of the borrower with his or her passport in hand. After completing the minimum application form, you will receive financial assistance while in Europe, America, and anywhere else in the world.


Source - Byo24News

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