Sometimes life is the way it plays. And sometimes it happens that you suddenly need money and then look at a house bank or an online bank to find out where you can get money from. This article is about the reasons why you have to raise money in the short term and the possibilities of where you can borrow money in the short term.
Reasons why you have to borrow money at short notice
One reason is that you have a new partner and she doesn’t want to move in until the new kitchen is there. The new kitchen is available in the furniture store and costs at least $ 3000 if you want a decent model.
Another reason may be that the car is broken. Then you need a new car because you need the car to go to work and you simply cannot do without it.
Another reason may be that you want to go on a big trip around the world right now, but just don’t have the money. Since the appointment should not be postponed too much, consider where you can get the money from.
4 ways to borrow money
For the other versions, we stick to the first example with the kitchen.
1. Financing already with the provider
Furniture stores often have a financing option. That means you can choose the kitchen in the furniture store and then pay the purchase amount over 48 months. This is very practical and is very popular with furniture stores. You need a certificate of monthly income so that you can check whether the installment is to be paid monthly. This income check also serves the security of the customer. In most of the cases, installment funding for the kitchen is gladly approved.
2. Private loan
Another option is to ask your relatives for money. Most of the time, parents still have a reserve that they don’t need themselves. If you ask them kindly, the parents are usually willing to provide support for new acquisitions.
3. Loan from the house bank
Another option is to ask the house bank for a personal loan. Here it is so that the house bank has an overview of the account activities and can easily decide whether a personal loan can be granted for the purchase of a new kitchen. This is a convenient solution because it doesn’t make you dependent on relatives. The disadvantage is that a personal loan is always associated with interest. These are at least 3.9 percent. But it may also be that the loan demands more than 10 percent interest per annum.
4. Online loan
You can find more ways to borrow money online on the Internet.
There you can get offers from popular credit banks that are also highly likely to be approved. The interest rate at online credit banks is only 1.9 percent per year. However, if you calculate your personal interest rate, it may result in a slightly worse offer with a higher interest rate. The transaction takes place via online traffic. The loan agreement must be signed and you must provide your house bank as a reference.
What do you have to consider if you want to borrow money at short notice?
You should check whether the purchase is really necessary. Sometimes you have a spontaneous idea and want to buy something, but after a while you realize that the purchase was not sensible, but only on a whim. So when trying to make a quick new purchase, first consider whether the purchase cannot wait until the money has really been collected. Every new loan leads to commitments, and 48 months of loan financing can be a long time that might not leave much else.
There are also similar financing options for the purchase of a new car and a trip around the world.