You may have heard the term Pinnish Loan, it is a short-term loan whose roots truly extend back to Finland. One of the first companies to launch this service is called the Seraturm Group and, since 2005, has expanded to several European countries. In 2018, thousands of companies provide these loans, including in the Czech Republic. In this article, we’ll talk more about what these loans are and what you should be careful about.
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If you run into financial problems and no one else has helped you there is a solution in the form of a payday advance direct green-touch. Usually, it is possible to apply for an amount of up to CZK 20,000, but note that the maturity does not exceed 30 days. This means that you are required to return the full amount plus any overpayment that is not the smallest after this period. On the other hand, there are also loans with 0% interest, but these can only be received when you apply for a loan for the first time.
What to prepare – how does an SMS loan work?
You are interested in what you need to get a quick loan. Have your mobile phone, ID and bank account ready. The whole process is done from the house, there is no need to visit any stone branches. You can apply for a loan using the online form provided by the providers located on the website, or you can apply for a loan using a mobile phone. It is also likely that you will encounter the term SMS Loan, because to confirm the application very often you have to confirm the loan using sms code.
APR amount and interest rate
People complain about the APR, which usually exceeds several thousand percent. Yes, it is true, but the amount of these costs is given per year and these loans are provided for a few days only. That is why these figures are almost unclear and confusing.
Benefits of Pinnish loans
- processing speed
- high availability
- the first loan is free
Disadvantages of Pinnish loans
- high overpayments
- maturity only 1 month