How can a pensioner get a loan?
Many credit organizations do not approve any credits to pensioners, so the best way for them is to apply to MFI (microfinance institutions) to solve all the short-term financial problems. It is fast and convenient to apply for a loan that is transferred to a bank card instantly, the applyer just has to fill out an online application. If it is difficult for an elderly person to do this, any family member, friend or neighbor can help him. Moreover the registration process is really fast, all the applications are processed in up to 15 minutes.
Both a working and a non-working pensioner in the age till 70 years can borrow money. This is an excellent option on favorable terms for those who urgently need money before getting pension or just have to pay any bills.
All loans that are being given to pensioners can be extended, so you don’t have to worry about not paying the loan on time. Moreover, microfinance organizations work 24/7 without days off and holidays, so financial resources can be obtained in a short time. The application is processed very quickly and it is very simple to receive money on profitable terms. You don’t have to leave home and go to the office, just use your smartphone or a computer with Internet access. Lots of documents are also not required – an official ID is enough to receive money.
Usually the conditions of MFIs are as follows:
- receiving from 1 000 to 25 000 pesos;
- it is required an ID and a mobile phone;
- review and approval within 15 minutes;
- receiving money to the card or e-wallet on the day of the application;
- convenient repayment terms.
The main thing that you have to do before applying for a loan is to assess your capabilities. It is necessary to calculate exactly how much money is required and for how long. Also, do not forget that in addition to the principal amount (sum of money that you borrow) you have to return an interest rate. You can view and evaluate different MFIs, their conditions, terms of loans and other options here.
If you want to choose the best online loan service, you need to filter all MFIs by several categories. In particular, you need to choose the amount and term of the loan, as well as the interest rate. Then you can sort the received options by chance of approval, overpayment, amount and time. After that, you need to read all the loan terms carefully and make sure that the following points are correct: payment schedule, early payment conditions, penalty interest amount and personal data processing.
