Long term credit card

A large number of our fellow citizens use the services of microfinance organizations. The reason for the mass demand for microfinance companies is that they provide short-term microcredits at high interest rates. That is, if you need a small amount, then there is no need to contact the bank, because the money can be received instantly on a bank card. But sometimes there is a need to get a larger amount for a long time, but it is not possible to take a loan from a bank due to the lack of a permanent source of income or a damaged credit history.

Today, there are a huge number of microfinance companies that compete fiercely with each other. Companies that work online are in great demand; in this case, you don’t need to go anywhere to get a short-term loan; you can send an application online, and receive money in a matter of minutes on a bank card. In addition, there are companies that specialize in issuing larger loans and for a long period. Thus, you can get a microcredit for up to one year. Let us consider in more detail who gives long-term loans to the card online, and their essential conditions.

Microcredit service

The specialization of MFIs is the issuance of short-term loans at a high interest rate. Their peculiarity lies in the fact that, unlike banking organizations, they do not impose strict requirements on clients, and do not check the employment of a potential borrower, because in order to apply for a microcredit, it is enough to provide only an identity document.

Another feature of most microfinance companies is that they work online, that is, the user just needs to open the official website of the company and send a short questionnaire, and receive an answer within a few minutes. Moreover, in most companies, the approval rate exceeds 90%, that is, a greater number of applicants receive funds. MFIs repay the loan by transferring money to the client's bank card, respectively, at the time of application, it must be issued to him.

Please note that if the company works online, then basically applications are processed automatically, that is, a special program processes the client's data and analyzes them by comparing with other applications, if the parameters of a potential client correspond to a fully solvent borrower, then the answer to his application will be positive, if not, negative.

Terms of long-term cooperation

So, as mentioned earlier, there are microfinance organizations that provide the opportunity to get a loan on a card for a long time. After all, the competition between companies is quite serious, each of them is trying to win as many regular customers as possible, respectively, improves the conditions for obtaining microcredits and expands the range of offers.

A long-term loan is more like a bank loan, that is, if you borrow a large amount, then you do not need to pay it off at a time. When signing a loan agreement using an SMS code, you will be provided with a payment schedule, according to which you will make payments at a certain frequency, for example, once a week, or 2 times a week, or once a month.

The procedure for obtaining long-term microcredits is not much different from the short-term one, that is, you can carry out the procedure for obtaining a long-term loan without leaving your computer. As for individual conditions, they depend directly on the internal policy of the microfinance company, which will be discussed a little later.

By the way, one cannot fail to say that obtaining a loan for a longer period is more beneficial for the borrower, because the percentage for each day using the loan is much lower.

Requirements for the borrower

Another feature of microfinance companies is that they cooperate with clients over the age of 18, provided that most banks do not lend money to citizens under 21. However, not only age is essential, another requirement is the citizenship of the Russian Federation, the presence of a civil passport and registration on the territory of the Russian Federation.

Please note that if you apply for a loan online without visiting the organization's office, you must make a scan of your passport or its photo in order to send it to a company specialist for verification.

Basically, potential borrowers are concerned about whether the MFI checks the credit history, and how informal employment affects the decision. First of all, it should be noted that it is impossible to take urgent long-term loans on a card without checking a credit history, that is, one way or another, the company can check your report, and they are also required to transfer information about all their borrowers there. But they are going to cooperate with borrowers who have current open debts to other creditors, the main thing is that at the time of applying for a microloan, you have no debt in a particular organization.

Undoubtedly, those borrowers who have a regular source of income are most likely to get a loan. Lenders will probably not check it, but they may ask you to send the TIN number, and also require the employer's contacts. The unemployed have a chance, but a very small one, because we are talking about long-term cooperation and a large sum. By the way, before applying for a long-term loan, you need to take and pay off several microloans on time, this will significantly increase your opportunities.

Current Offers

There are a huge number of MFIs on the Russian financial services market, but far from all of them provide large amounts of debt. But there are several proven companies that are ready to cooperate on a long-term basis with potential borrowers, including online. Let's give an example of several proposals.

Instant credit

This microfinance company provides short-term and long-term loans to the card online. If you want to become a client of this company, you just need to go to the official website and leave a short application, only a passport is needed from the documents. You can contact us at any time of the day, regardless of the day of the week. If we talk about long-term cooperation, then here it is possible on the following conditions: the maximum amount is up to 100,000 rubles, for a period of up to 1 year, the interest rate starts from 0.27% per day, but is determined individually for each individual borrower. Only customers who have applied repeatedly can count on long-term cooperation.

For example, when applying for 100,000 rubles for a period of 48 weeks, the payment will be 9,520 rubles every two weeks.

Moneza

Moneza also provides loans for a long period, the maximum amount at the first application is up to 30,000 rubles for a period of up to two months. But when you re-apply, the conditions change as follows:

• the amount can be increased up to 60,000 rubles;
• the period can be extended up to one year.

The minimum interest rate is 0.3%. Difference: a high percentage of approval of applications. You can get a long-term loan for a year online without leaving your home.

EZAIMO

Microfinance company operating online, here you can also apply for a loan for up to a maximum of 80,000 rubles for a period of up to 12 months. If you need a large amount of more than 40,000 rubles, then you will need either a salary certificate or a deposit, which, of course, can be attributed to disadvantages. But the interest rate is more than loyal, on average, in one year you will overpay only 21,000 rubles, when applying for a loan in the amount of 80,000 rubles. The interest rate is determined individually for each client.

Home Money

This is a microfinance organization that pursues a certain policy, you cannot get money on a card here, but you can invite a representative of the company to your home who will fill out all the documents and send them to the security service for verification. Then the manager will give you a bank card, to which the loan amount will be transferred in the future. As for the conditions, the maximum loan amount is up to 50,000 rubles upon re-application, for a period of up to 1 year, the interest rate is a maximum of 225% per year.

Features of long-term cooperation

If you want to take a long-term loan at a minimum percentage, then be prepared for the fact that employees of a microfinance company will carefully check you, because a larger percentage of application approval falls on those users who borrow up to 10,000 rubles. Only existing clients can apply for larger amounts, respectively, if you want to get a large loan in the future, then you need to take several short-term microcredits and establish yourself as a conscientious borrower.

Another nuance is that a company may require a potential borrower to confirm their official earnings using a certificate in the 2-NDFL form, which already complicates the loan process. An alternative option is the provision of collateral, which already indicates that it will not be possible to issue a long-term loan in 15 minutes.

Please note that the same microfinance company may have different requirements and interest rates for different clients. This is due to the fact that the decision to issue a loan is made on the basis of an analysis of all data provided by the borrower, not only related to employment, but also his age, marital status and much more.

Advantages and disadvantages

Long-term microloans on the card have their own characteristics, as well as advantages and disadvantages. The advantages include the fact that you can apply for a microcredit without leaving your home, you can receive funds in a convenient way for yourself, for example, to a bank card, electronic wallet or by transferring to a bank account. Funds come almost instantly in case of a positive decision. And, therefore, a potential borrower does not need to wait, as when applying for a loan at a bank.

Perhaps this is where all the advantages ended, then about the disadvantages. You can also get a loan from a commercial bank, and at a lower interest rate. If we are talking about an amount of up to 100,000 rubles, then you can find a bank that will make a decision on your application within one day, you can get such a loan without providing a salary certificate. As an alternative, you can apply for a credit card, on which the percentage will in any case be lower than in a microfinance organization.

Whether or not to apply for a microcredit, of course, everyone will decide for himself. But if you are committed to long-term cooperation with your lender, then you need to be very careful about the essential terms of the contract, as well as interest rates. Even if the answer to your questionnaire is positive, you can refuse a loan if you are not satisfied with the interest rate, which, by the way, is determined individually by the lender at the stage of signing the contract.