A 3-month loan is not a very popular product. Much greater demand exists for installment loans with a repayment period of at least 12 months. It is enough to look at the tendency of changes in loan offers of some brands. These systematically extend the repayment periods, which today can reach 48 or even 60 months in Wonga. However, there will be enthusiasts of this solution who do not want to get involved in a long-term commitment, and payday pay (even free) may not be enough.
How can I borrow for 3 months?
The payday loan for 90 days is still quite a distant future, given that only a few lenders have decided to introduce a repayment period longer than the standard 30 days (see: “Long-term payday loans – what companies borrow for the longest period?”). It seems that a 90-day payday would be too much of a risk for the lender to be in free form. So be prepared for the fact that virtually any such loan will be in installments only and will be payable.
The choice of the best lender will also be narrowed down. Not all installment loan institutions have such a short repayment period. It is true that in most cases the smallest number of installments is just that, but there will also be companies that consider the 6-month period to be the absolute minimum (e.g. very attractive Ferratum and Monedo Now). It may not be a noticeable reduction in the number of lenders, but in this way you will lose the opportunity to get financing on really good terms.
Where can I find the best loan for 3 months?
The only, but quite reliable, criterion for choosing a lender are the costs that a short-term loan will generate. So we’ll look at several loan proposals in three installments.
Jaijai is one of the cheapest loan brands on the market. It also offers one of the largest loans and a very long, 60-month repayment period – if 3 months were too short, it is possible to change the repayment schedule. However, you must remember that it also has slightly higher requirements for its customers. The sample loan costs are as follows:
A short repayment period is not always good
When borrowing for 3 months, the borrower must remember that this is a very short period and paying off a large amount, as with a payday loan, will not be easy. Fortunately, in most of the aforementioned companies it is possible to extend the repayment schedule, although this will involve higher liability costs. In any case, it’s worth leaving an emergency exit.