What conditions must you meet to obtain a payday loan if you do not have a payroll?

What conditions must you meet to obtain a payday loan if you do not have a payroll?

  • According to the requested entity, it will be necessary to be over 21 years old and under 65 years old, other institutions require more than 23 years
  • Reside in Spain on a regular basis
  • Have a valid DNI / NIE
  • Be the holder of a bank account registered in Spanish banks

It will also be necessary to provide a phone number and email, so you can receive notifications and the entity could request more information if the information provided is not enough.

What are the main aspects to take into account?

Before applying for a payday loan it is necessary to consider several aspects that can make the difference between a good and a great choice.

Withdrawal period, it is crucial to select the appropriate period to repay the debt. Select the convenient time to effect the liquidation of the payday loan without setbacks. A longer term can lead to higher interest and the cost of the payday loan will be higher. Make sure that soon you will receive income to avoid falling into default.

Applicable interest, this can become the most remarkable part of your choice. With it you get information about the final value of the payday loan and how much money it will be necessary to return for the service provided. Too low interest may be tied to additional expenses make sure you have read and understood all the information.

Commissions and extra expenses, this is an element that disturbs many users before applying for a payday loan. It may increase the value of the same and in some contracts it is not entirely clear.

Why in these entities could it be different?

The payday loan simulator is the ideal tool to clarify those doubts before hiring, it offers detailed information of each one of the financial institutions of your interest without small print. We must emphasize that there is a current regulation that requires that all the elements and details be expressed in a clear, concrete and easy to understand manner.

How much money could you get with a payday loan?

Although it is a payday loan for the unemployed, the amount available depends to a lesser extent on the amount of the unemployment benefit. If the first application is the most common is that you can get up to € 300 and be returned within a maximum period of 30 days, for this offer is available with some entities a first payday loan without interest; free where the client should only return the exact amount obtained.

Your second request could provide a payday loan for a maximum amount of € 1000 and the return period would also be extended, here the corresponding interest applies.

The payday loan modality for the unemployed with some of the entities present in the simulator, does not require a bank guarantee, the client can access the money without providing excessive information and give details about the destination that will be given to the payday loan.

Main advantages of online unemployed payday loans

They can be requested from anywhere, it is not necessary to go to an office to make the request, the entire process is online from start to finish.

There are no paperwork and it is not necessary to provide information about the destination of the payday loan.

They do not require an endorsement, so the client who requests it is a strong candidate to get one, his income from being unemployed is enough to support his request.

The process of processing is simple, when done all over the Internet, these times are reduced to a scant 15 minutes, making it an instant process.