Small hour loans or micro loans
Small hour loans or micro loans are, as the names suggest, small loans without collateral with a short down payment period. As a rule, it is a few thousand dollars, and some providers allow you to borrow as little as 500 kroner. Anything up to $ 50 00 can still be described as a small loan.
The purpose of such loans is to cover unforeseen expenses, such as a bill that was not expected or extra costs when important assets break down. Then it is not certain that you can wait for the pay slip and thus you have to resort to a loan to get through the month. But then it is important to pay back as soon as possible, otherwise it can Small loans on the hour quickly become very expensive.
It can often be that you need the money right away, and on some websites it is suggested that you can get the money while you are still in the store. After all, it may be that you have seen a good deal and then you may need the money immediately. Several providers therefore advertise with fast loans; day, hour, or even down to the minute. But is it really possible to get the money so fast?
Reply on the day, the money on account within 1-2 days
In most cases, the answer to this is no. Loans during the day or hour usually mean that you get the application right away, but transferring the money usually takes a little longer. Even with the fastest players, it should be well done to get the money on the day.
Admittedly, applications and answers are quickly made. Since these are small loan amounts, you do not need to document fixed income to the same degree, and the application can thus be processed faster. This is done in most cases automatically, and you can also sign the loan agreement electronically with BankID.
The fastest form of loan is SMS loan. Then you simply send a password and the desired loan amount with your mobile phone. This assumes that you have already borrowed from this company via the internet and that they have information about your finances from before. If you have the same bank as the loan provider, an established customer relationship and the amounts are small you can actually get the money almost immediately. Otherwise, you should expect a wait of around 24 hours.