Interest-free loans

Get your first free loan without interest!

Free loans are a reality and have become the favorite option of many users. And it is that financial institutions make this modality available to you, where you will not have to pay additional money. How do they work? Too easy! Ask for an amount and return the same amount, without interest or commissions.

What are you waiting for? Forget about fees and know the best interest-free loans in United States .

Last update: 11 November 2020
Ranking created based on the most frequently granted loans
7 - 30 days
term
$ 50 - $ 300
maximum first loan
Yes
Supports Credit Checker
" APPLY FOR "
91 - 120 days
term
$ 100 - $ 1,000
maximum first loan
Yes
Supports Credit Checker
" APPLY FOR "
5 - 30 days
term
$ 50 - $ 1,000
maximum first loan
Yes
Supports Credit Checker
" APPLY FOR "
61 - 120 days
term
$ 50 - $ 300
maximum first loan
Yes
Supports Credit Checker
" APPLY FOR "
5 - 31 days
term
$ 50 - $ 500
maximum first loan
Yes
? Your debt must not be more than 1500 $
Supports Credit Checker
" APPLY FOR "
1 - 48 months
term
$ 50 - $ 5,000
maximum first loan
Yes
Supports Credit Checker
" APPLY FOR "
5 - 62 days
term
$ 100 - $ 400
maximum first loan
Yes
Supports Credit Checker
" APPLY FOR "
5 - 30 days
term
$ 100 - $ 1,000
maximum first loan
Yes
Supports Credit Checker
" APPLY FOR "
5 - 30 days
term
$ 50 - $ 300
maximum first loan
No
Supports Credit Checker
" APPLY FOR "
2 - 3 months
term
$ 50 - $ 750
maximum first loan
Yes
Supports Credit Checker
" APPLY FOR "
61 - 90 days
term
$ 100 - $ 1,000
maximum first loan
Yes
Supports Credit Checker
" APPLY FOR "
1 - 38 days
term
1 - $ 300
maximum first loan
No
Supports Credit Checker
" APPLY FOR "

What are fast free credits?

In a short time, interest-free loans have become a very convenient financing alternative. This type of interest-free loans is aimed at recent clients , and consists of returning the same amount that the company has lent you, without interest (0 APR). Of course, as long as you respect the return period.

Interest-free loans are intended, among other things, to help you build a credit history with a private lender , if you pay on time.

You can get from 300 for free, since normally, loans of this type only offer limited amounts that do not exceed 1,000 EUR. It is a marketing and sales strategy that many financial entities implement to increase their client base.

What are interest-free loans for?

Interest-free loans are intended to cover unforeseen events or emergencies in which we need immediate liquidity, in addition to having time against us. For example, if it's a health emergency, traffic ticket, or car repair, you probably need to act as quickly as possible to avoid prolonging the problem . In these cases, gathering documentation and banking for several weeks is not an option.

In the same way, these loans can also help us pay for consumer goods or services such as a trip and even some study tuition without any interest , as long as they are small sums of money.

Free Loans for Youth and Unemployed

Normally, when we request a loan from the bank, it is mandatory to present a direct debit payroll. However, the reality is that there are a lot of people who also require financing, but are in irregular work situations such as students, unemployed, self-employed, retired or workers with temporary contracts .

In this case, it is possible to access loans without payroll and without interest at 0%, as long as you prove some proof or source of regular income that does not necessarily have to come from a work payroll, having alternatives such as:

Characteristics of personal loans without interest

The offers of the best online personal loans without interest, in the Spanish territory, are increasing. Why? Look at its main characteristics :

  • They are online loans aimed exclusively at recent clients in the financial institution.
  • They tend to be more attractive to people who are going to request a loan for the first time (young people and students, above all).
  • The average amount ranges from 300 US dollars to 1,000 EUR . However, lenders with more attractive terms are constantly emerging.
  • Their terms can range from 30 days to 3 months.
  • They do not generate interest or commissions if you return the money within the agreed period from the beginning. Otherwise, you will have to face additional expenses. Therefore, you must read the fine print of the contract .
  • Although the interest rate is 0, the costs for late payment of installments are usually higher than other types of loans.
  • They do not request, in general, to be on the payroll or to present a guarantee or guarantee .

Free Loans without Endorsement or Guarantee

The best thing about free online loans is that their requirements are very basic. They usually don't even ask for a justification of what you will use your loan for. They also offer loans without collateral , that is, they do not require the figure of a guarantor that is part of the contract or the provision of a guarantee in case of non-payment.

This facility is granted by financial lenders because in a quick loan without interest, small amounts are normally handled. In addition, these companies have the fact that you must attach proof of frequent income. In this way, they do not assume a great risk of default.

How do interest-free loans work?

The operation of interest-free loans is very simple:

  • You choose the amount you want , from 300 free to an amount that does not usually exceed 1,000 EUR.
  • You set the term for the refund , which does not usually exceed 31 days.

Keep in mind that the process is completely online . This means that you can request your first interest-free loan from the comfort of your home or office in a couple of minutes. You must have a mobile or computer.

And if you meet all the requirements and conditions in a short time you will have the requested money. You only have to return it within the stipulated period . For example, if you apply for a loan of € 1,000 on April 30, you will have to repay the same € 1,000 on May 30.

TIN and APR How to identify a completely free loan?

You can run into financial institutions that disguise the conditions of their free loans to make them more attractive. However, you should always read very well what they offer you in the interest rates section:

There are financial institutions that offer fast loans with 0% TIN . This means that the first loan will be free of interest. But it will not be exempt from additional expenses and costs.

So for it to be a free first loan in its entirety, you must specify a 0% APR . This is the true interest-free loan.

Why is the First Loan no interest paid?

Surely you are wondering if all this of the fast loans without interest is as they paint it or is it simple advertising. The truth is that it is common to ask what does the company gain if the loan is free? The answer is simple; New customers.

Offering a free first loan is a strategy that financial institutions have to attract new customers who in the future may request more financing . It is really a business tactic that users can benefit from by taking out their first free loan.

Types of free interest-free loans

You can find a wide variety of financial products on the market, but there may be additional fees. If you are considering requesting your first free loan , there are several alternatives to consider. Between them:

Credit cards Free mini-credits Payroll advances Youth and Student Loans Credits
in financial entities
They are characterized by their deferred payments. Which allows you to cover the amount spent, the following month. In many cases, without paying interest. They are the most common financial products on the market today. This type of loan does not usually exceed 300 EUR. And it must be returned within a period of no more than 30 days. You can advance your salary ahead of time at the bank where you are domiciled. Some entities do not charge interest for it. Some youth and student credits are usually interest free, on your first credit. They are aimed at recent clients with a fixed age range. There are banks that allow you to acquire other products (loans with Credit Checker, loans without payroll, etc.) with 0% APR and in promotions. That is, without interest and expenses.

These are some types of credits that exist. Of course, each financial product has different characteristics depending on the lender . So these options could be completely free. Or, failing that, have some free points, but with commissions. Therefore, you must review and read the smallest letters of the contract very well.

Common uses of interest-free credits

Considering that the amount of free credits is small , it allows you to cover any last minute situation. Some common uses:

  • Faults in the home.
  • Repairs to the car.
  • Payment of utility bills.
  • Health expenses.
  • Traffic fines.
  • Gifts or special purchases.

Interest Free Loans With Credit Checker - Is It Possible?

Being included in a delinquent list may make us less eligible for financing. However, when it comes to a free loan, financial institutions may approve your application and grant you a quick loan with Credit Checker. Currently there is a wide range of lenders, which has made these companies have to make their requirements and demands more flexible to adapt to the most common needs.

Normally, companies study in detail the financial profile of each person, in order to make a better decision. In this way, if you are in a delinquent file, we invite you to send your request in the same way, since beyond evaluating your credit history, they will be able to assess the level of your debt or your current income.

Characteristics of interest-free loans

Advantages of an interest-free loan

Quick loans without interest are a good alternative for those who need to cover an immediate payment, and do not want to pay additional expenses. Its main pros are:

  • Immediate online processing : just by entering the page of a credit organization, you register and request your loan. Without going anywhere, or being in queues, good service, quick response, immediate access, and assistance from Monday to Friday within the established hours.
  • Flexibility in requirements : the requirements and conditions are flexible, anyone can have them. From young people to adults, without extra paperwork.
  • No interest or commissions : you will not pay any subscription, study fees, or interest rates. However, you should check the interest rates.
  • Moderate amounts : the amount loaned does not exceed 1,000 EUR, making it easier to repay. And your data is protected by security policies.
  • Credit history - This is an excellent opportunity to start building a credit history . In addition, this modality sometimes accepts Credit Checker.
  • More credit limit : the financial entities that offer these personal credits admit requesting a second credit with higher amounts, as long as you meet the deadlines in the first.

Disadvantages of an interest-free credit

Like all financial loan modalities , this type also has disadvantages that you should know before filling out the form:

  • They are only available to new customers.
  • Terms from 30 days to 3 months.
  • The amount is small. If you need money to start a business or buy a car, this financing will not help you.
  • Some banks often confuse applicants with the interest rate with an offer of a free loan, but with added amounts.

What are the requirements to request money without interest?

The requirements and conditions to apply for a loan of this type are very simple. They are generally the following:

  • Be over 18 and under 70 years old.
  • Not having debts registered in delinquent files, but on some occasions this modality accepts Credit Checker.
  • Applicant documentation must be current.
  • Register on the lender's site to fill out the form.
  • Have a bank account in a United States bank.
  • Provable, periodic and sufficient income.
  • Active email account.
  • Mobile phone in your name.

Remember that these requirements may vary slightly from one lender to another . Especially when it comes to loans with Credit Checker . There are institutions that do grant this type of free credit to people who are on the list of defaulters.

It may also be the case that the lender offers free no payroll or no interest youth loans . You can consult our opinion section where you can find detailed information about various lenders.

reasons why Spaniards borrow interest-free loans

Steps to apply for an interest-free loan online

The procedure to apply for your loan lasts a few minutes and can be summarized in the following steps:

  • Visit the Lender's Website : Go to the official website of the lender you have selected. You can check the ranking of credits without any interest to make a comparison with the information.
  • Select amount and term : in the immediate loan simulator you must choose the capital and term to pay. Take into account your personal finances.
  • Online registration : make your electronic registration on the platform of the credit organization of your preference. Fill out the form with your personal data.
  • Data confirmation : you will receive a call or message from the lender to confirm your information. If you meet the requirements and your economic profile adapts to the conditions of the credit entity, you will receive immediate approval.

The receipt of money varies according to the bank you have registered. It can be in minutes or 48 hours. And remember to use the lender's web simulator . It is the best way to determine the payback period and, if there are any added opening fees or commission.

How to pay off free loans fast?

The term and conditions of free loans vary depending on the entity you choose. As a general rule, considering that it is not a high amount, the free credit is usually returned in a single amount on the same date next month (30 days). But, you may have the opportunity to do it in installments.

Regarding the payment method, it can be an automatic debit from the linked card or account. Or a bank transfer to the banks managed by the financial institution where you will have to pay the monthly fee.

Early Repayment of a Free Loan

It is logical to think that, if you have the opportunity to pay off a debt, it is best to do it as soon as possible so as not to postpone it. However, when it comes to a free loan, we usually talk about small amounts of money and with terms from 30 days to 3 months maximum.

Repaying a free loan in advance would only reduce the term of your contract, but it would not allow you to save money, since there are no interests or commissions involved. On the contrary, you may be charged a commission or penalty for this that is not worth assuming. The best thing is to pay an interest-free financing by following the agreed terms and monthly installments to the letter.

What happens if I cannot pay my Loan without Interest?

Everything has a solution! If your financial situation has become complicated and there is a possibility that you will not be able to pay a monthly fee on time, it is best that you contact the Customer Service department of your lender as soon as possible.

Normally, these companies will reach some type of negotiation with you, either reducing your monthly fee, or lengthening the payment term. The important thing is that you can notify in a timely manner so that you enjoy a new agreement with better conditions and that it does not greatly affect your budget or your current financial situation.

Some people believe that interest-free loans carry no late fees. For this reason, when they cannot pay a fee they decide to miss the deadline and accumulate the debt. This is a big mistake! Interest-free loans can cause problems if you do not meet the payment on time.

Are Interest-Free Loans Reliable?

Interest-free loans are safe as long as you go to a trustworthy entity, with digital security systems for the treatment of your personal and banking data, as well as favorable user opinions. It is important that you are over 18 years of age and that you read all the terms and conditions of the digital contract very well. Never sign an agreement that you don't understand or accept offers that seem too good to be true.

With this type of interest-free financing, there is nothing to worry about, since interest-free loans are safe because they are low amounts and short repayment terms . In addition, the loan is free as long as you meet your payments on time and return the entire amount within the established period. Otherwise, you may face penalties or interest for late payment.

As this type of interest-free loans is handled with a short repayment term, if you are not sure of being able to return the money in the corresponding time, it is best that you hire another type of financing; one that offers you a longer term to pay.

Frequently asked questions about the first free loan

If you have any additional questions , here you can find your answer:

⭐️ What is an interest-free loan?

It is a loan in which you must return the amount loaned by the credit entity, without added interest, and in a time no longer than 30 days.

⭐️ What are the characteristics of free loans?

They are credits aimed only at new clients, the amount does not exceed 1,000 EUR, does not generate interest and fees (to be reviewed with the lender) if you return the money within the agreed period, the application is completely online.

⭐️ What are the types of free interest-free loans?

Credit cards, free mini-credits, payroll advances (such as those from advances.es ), loans for young people or students, and credits in financial institutions. We recommend you review the services of the selected lender, they could consider other alternatives.

⭐️ What are the requirements to request a fast and free loan?

Be 18 years old, have a valid DNI or NIE, have a bank account in Spanish territory, have an active email / mobile and in your own name, not be registered in Credit Checker (in some cases it does accept Credit Checker). Always check the requirements as of today.

⭐️ What are the steps to apply for a free fast loan?

Enter the lender's website, choose the amount and term, fill in the online form, verify personal data and wait for approval.

⭐️ What aspects to consider when obtaining an immediate interest-free loan?

You have the power to choose the lender you want. But consider the amount, repayment term, conditions, requirements and interest rate (it must be at 0%).

⭐️ What happens when I do not cover a fee on a free loan?

Late fees are often very high compared to other loans. Some lenders may consider other penalties.

⭐️ Is it possible to repay a free loan in installments?

Although most free loans offer a 30-day repayment period, it is now more common to get installment loans at 0% interest. In fact, there are lenders with the possibility of repaying the money in 62 days or months, for example. But it is to consult with the selected lender, as well as the commission that would apply.

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