Payday loan is a great success, which is due to low loan interest rate. More and more people are using personal credit to solve their smaller, larger financial problems. To qualify for a Payday loan, you must meet the basic requirements, one of the most important of which is income. The higher the salary you can justify when borrowing a Payday loan, the more favorable your credit construction will be. Banks do not accept all types of income when applying for a Payday loan. Now, let’s see if you can get a Payday loan with a daily income!
Payday loan With Daily Income – Getting a Payday loan
General Terms and Conditions
- According to the regulations, a Payday loan can be applied for between the ages of 18-72. These age limits may vary from bank to bank. If the loan applicant does not meet the minimum or upper age limits set by the bank, the debtor must be involved in the loan transaction.
- As a member of staff, a minimum of 3 months’ employment is required. The probationary period and the notice period are grounds for exclusion.
- As an entrepreneur, you usually need at least one proof of a completed business year.
- Regular monthly verified income should reach the current minimum wage, but the exact amount is determined by each credit institution.
- Opening a bank account is required and must be maintained throughout the term.
- KHR (BAR) list is a ground for exclusion.
- The borrower must have a permanent registered address in Hungary, which must be certified by valid documents.
- identity card (or passport, driving license)
- address card
- tax card
- employer certificate (in case of sole proprietor, in case of KATA, EVA NAV certificate and zero certificate both for the company and the individual; in case of pensioner pension certificate and pensioner certificate)
- bank statement (last 2-6 months) if you are not seeking credit from the account keeping bank
- certificates of existing loans (proof of principal)
Not everyone gets a monthly salary. There are employers who pay their employees with a daily income. Subsistence allowance does not mean pay for days worked, as the employee has a basic salary and, in addition, receives a daily allowance. The latter is primarily provided at workplaces where higher costs may be incurred. This is the most common type of job in international shipping. In almost all cases, these workers are paid a daily wage. Banks do not really like this kind of salary when applying for a Payday loan and therefore do not always give money to loan applicants.
The daily allowance can be up to EUR 20-60. This can generate very high net income, yet financial institutions are reluctant to lend with this kind of income. The cause of the problem is already reflected in the name itself, the daily allowance. For example, if an employee goes on holiday or is on sick pay, the amount of the daily allowance will be lost. This poses a risk to the banks. In this case, the amount of sick pay and sickness benefit is calculated on the basis of the declared basic salary. In addition, there is a risk that the employee will be sent on domestic journeys instead of posting abroad, and then the tens of euros per day will jump.
There are credit institutions that provide Payday loans with a daily income. 30% of domestic banks can manage this income properly and even offer very favorable interest rates. The requested loan amount can reach the domestic market maximum, 10 million HUF.
The Bank Payday loan Calculator will help you choose the best Payday loan. If you don’t want to waste your time going from bank to bank and listening to Payday loan offers, apply for a loan online. When applying for a loan online, you can find out more quickly if you have approved a credit institution than personally. The system submits your claim directly to the bank’s pre-review or review department, so you can find out whether you’re eligible for the credit within a few hours.