Payday Loans for 5000 euros: how do they work?

Let’s find out how to apply for small payday loans of 5,000 euros from us.

And make a request for a completely free online estimate , in order to get an idea of ​​the expense we are going to meet. Then you can evaluate whether or not to receive the credit we need, or compare the treatment received with others offered by the market.

The proposals offered by regarding the forms of financing available to its customers are different. Among these, one of those that receives greater success is that of payday loans . The latter allow us in fact to receive a sum not too high, but with the advantage above all of not having to specify the purpose of the loan that we are requesting. Moreover, as regards the delivery times, these are particularly fast loans.

With payday loans, you can receive a sum of up to 30,000 euros . In particular we will deal with the financing of small amounts , such as those of 5 thousand euros . It can often happen that you have to face an expense that for some may not be a problem, but that we may be in trouble paying in one installment. For this reason it can be very useful to defer the payment , in order to rectify the debt in convenient monthly installments, which will not excessively affect the budgets available to us, so as not to change our economic capacity.

One of the advantages of the 5,000 euro loans offered by is to be able to choose the duration of the loan . At the time of the loan request we need, in fact, we will decide the number of months in which we will repay the sum loaned to us by the bank. In this way we will be the ones to choose the amount we will have to face each month. So what we will do first of all assess how much we are willing to pay monthly for the repayment of the loan received, obviously taking into account the fact that by lowering the monthly payment , and thus increasing the duration of the loan, the interest that we pay will be greater and therefore the total expenditure will increase.

Free loan estimate for a 5 thousand euro loan

If you are interested in receiving a payday loan of 5,000 euros and want to evaluate the expense you would like to meet by choosing to contact , the best solution is undoubtedly to request a quote . To do this we will not have to face any expenses, and furthermore, registration on the site will not be necessary either. So even those who are not a customer can connect to the company’s website and calculate their loan according to the parameters they prefer.

Requesting an online quote is very simple and no IT skills are required. To do this, we just need to visit the website and enter the loan area . Here we will first find all the information about the available options , then the necessary requirements, the applied interest rates, how to make the request and anything else. We can also use a simulator , which in a few seconds will provide us with all the details of the loan that we are willing to request.

To receive this cost estimate, with the calculation of the installment that we will face each month, the only data that will be requested will be the amount we need (5000 euros) and the duration , therefore the number of months in which we prefer make a refund. On the basis of these two parameters we will be presented with the installment that we will have to pay each month, and next we will specify values ​​relating to the interest rates of Tan and Taeg . So if the installment seems too high we can decide to increase the duration of the loan, while we can choose to end the repayment a few months earlier to reduce the total cost of the loan. Finally, once you have identified the characteristics that satisfy us, we can finally make an appointment at the branch and proceed with the request for the desired loan.

Estimate: installment calculation table for loans of 5000 euros

Now let’s look at the official table for the calculation of the installment of a payday loan of 5000 euro, calculating the amount of the installment according to the chosen duration, ie the number of installments in which our loan will be divided. This is a convenient table that you can use to compare offers with those implemented by other financial companies.

Duration (months) TAN APR Installment
42 9.90% 12.31% 144.17 €
48 9.90% 12.13% 129,10 €
54 9.90% 12.00% 117.42 €
60 9.90% 11.89% 108,11 €
66 9.90% 11.80% 100,52 €
72 9.90% 11.71% 94,22 €
78 9.90% 11.65% € 88.92
84 9.90% 11.59% 84,40 €

In the table above we find all the information related to the 5,000 euro loans granted by . What varies from one line to another is the duration of the loan , ie the parameter that we can choose when applying for the loan. The other columns describe the interest rates of Tan and Taeg, and finally the precise amount of each monthly installment that we are going to face for the repayment of the sum loaned to us.

As highlighted by the table of the official website with all the loan combinations and installments available, therefore, as is obvious that the installment that we are going to pay decreases with the increase in the number of months in which we intend to return 5,000 euros. So if we prefer light installments, you can choose a longer duration. Taking as an example the two border cases, going from a duration of 42 months to 84 months, the installment, which was 144.17 euros, becomes only 84.40 euros. With regard to interest rates , we note that the Tan is fixed at 9.90% for any duration we have chosen. On the other hand, the Taeg decreases when the number of months increases: from 12.31% of the 42 months to 11.59% of the 84 months. Does this mean that you pay less interest for a longer term? Absolutely not! The percentage specified refers to the single year, so it is true that every year we will pay less, but overall the interest will be significantly higher.

 

 

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