The 3 types of free credits that we can access



When seeking financing, whatever the project may be, one of our main objectives is to find the best offer on the market that allows us to pay in installments for the lowest possible cost. Although it is not always possible, for certain projects and to finance the purchase of some products, it is possible to find loans without interest. Let’s discover the three types of free credits that exist in the market, why use them and in which cases we can request them.

Free mini-credits, the best known

Free mini-credits, the best known

Online mini-loans are financing products that allow us to obtain small amounts of money, between $ 100 and $ 1,000, to be able to face punctual unforeseen events. These types of credits are characterized by having to be repaid within a maximum period of 30 days and in a single payment made up of the money borrowed plus fees.

Generally, their cost is around 1% daily, that is, 30 dollars in interest for every 100 dollars lent, but many companies offer free mini-credits to their new customers. In this way, after 30 days, we will only have to return the requested money.

Interest-free bank loans for specific projects

Interest-free bank loans for specific projects

Although less well known, banks also offer some interest-free loans. These types of credits, however, are not available for any purpose, but are designed to attract – generally – young clients.

The purpose of these loans are usually projects such as financing the driving license, advancing the amount of a scholarship, advance payments of payroll, loans for studies or the financing of certain electronic devices.

These types of interest-free loans are characterized by not lending amounts greater than 10,000 dollars and having repayment terms that rarely exceed 12 months. In addition, it is common for them to request a link with the entity, such as direct debiting the payroll or hiring some other bank product.

Financing in stores with specific promotions

Financing in stores with specific promotions

As a third option, we have financing offered by stores such as department stores or electronics stores, which have their own installment offers to encourage the purchase of their products. Household appliances, mobiles, furniture, cameras, all those products whose cost is higher than usual purchases.

Since the main objective of these stores is to sell the product and not to earn interest on the loans, they usually have great deals on their financing.

Generally, these types of free credits usually have specific repayment terms and, in many cases, are for specific products, so it is important to compare and take this information into account before choosing.

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